US Fire Retardant Treated Wood Market is Estimated to Exhibit above $115 Million by 2024
13 November 2018 –
The U.S. Fire Retardant Treated Wood Market is estimated to exceed USD 115 million by 2024. A rising number of incidences of wildfire break out is expected to result in increased demand for fire retardant wood.
The U.S. fire retardant treated wood market has changed drastically over the period owing to the increase in arson accidents lately. For instance, there was a warehouse fire which killed approximately 33 people and left other injured in California, in December 2016. Such incidences have resulted in personal safety concerns and are expected to result in a surge of the fire retardant treated wood industry.
The government has mandated stringent regulations mandating the use of fire retardant materials in institutional and public places or event venues owing to the recent elevation in temperatures and fire incidences. The flameproof wood is gaining popularity among builders as the safety of residents is preferred the most, hence increase in demand from construction sector will help boost the fire retardant treated wood market.
Demand for fire retardant in institutional structures accounted for 25.2% of the total revenues in 2016. The segment is expected to witness sluggish growth on account of the saturation of the market in this space. Nonetheless, the mandated use of flame retardants in museums, schools, and universities by authorized regulatory bodies is expected to drive the market.
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Other areas of applications such as personalized gifts and defense sector are expected to boost the market for fire retardant treated wood. For instance, the U.S. Navy uses flame retardant treated wood to construct blimp hangars for controlling the fire on ships.
The increase in the construction and sale of new houses is expected to augment the growth of the market. Moreover, consumer preference for wood over other construction materials is expected to provide an impetus to the market growth over the next few years.
Chemco, Westminster Industries Ltd., Quality Support, LLC, Conrad Forest Products, Viance, and Lonza are some of the key players operating in the industry. Viance is integrated in its operations from raw material supply to manufacturing fire retardant treated wood products. Low switching cost owing to low product differentiation has resulted in high rivalry among competitors.
Hexa Research has segmented the U.S. fire retardant treated wood market based on type and application:
Segmentation By Type, 2014 – 2024 (USD Million)
Segmentation By Application, 2014 – 2024 (USD Million)
Key Players Analyzed
• Quality Support, LLC
• Westminster Industries Ltd.
• Flameproof Companies
• Conrad Forest Products
• Western Wood Preserving Co.
• RAM Forest Products
• Hoover Treated Wood
• Great Northern Lumber
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