Fire Retardant Plywood Market to Hit USD 1 Billion Mark by 2022 – Global Insights on Applications, SWOT Analysis & Forecast
North America is the major market for fire retardant plywood followed by Europe. The increasing number of fire incidences is expected to boost the growth of fire retardant treated wood market in North America.
Dallas, United States – May 26, 2021 /MarketersMedia/ —
The research report covers the global fire retardant plywood market value and volume for a period ranging in between 2012 to 2022, where 2012 to 2017 imply the historical value with forecast between 2018 and 2022. The global fire retardant plywood market report also includes qualitative insights of the market such as investment opportunities, drivers, challenges and production capacity by region.
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The global fire retardant plywood market is projected to reach USD 1,163.4 million by 2022. Major internal factors that are driving the fire retardant plywood demand are rising awareness about the availability of fire resistance wood products, growing demand from Asia Pacific and South America, increasing structural fire incidents across the globe. Moreover, the external factors including growing construction industry, increasing use of wood for the construction of residential and commercial houses, migration of people from rural to urban areas, and increasing population are expected to drive the fire retardant plywood market further.
On the basis of type the global fire retardant plywood market is segmented as UCFA also known as Interior FRT plywood and UCFB also known as Exterior FRT plywood. Interior type had the highest market share which occupied 71.8% globally in 2017 and is expected to maintain its dominance during forecast period. Interior type FRT plywood is used in many applications such as roof trusses, and partition walls, beams, architectural millwork, rafters, floor joists, and platforms. However, Exterior type FRT plywood is witnessing a consistent growth during the forecast period as a result of its increasing use in the construction of roof covering, fences, balconies and paneling. Moreover, the exterior type FRT plywood also protects the wood from external environmental factors such as moisture, water and sun heat and other climate variations.
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The global fire retardant plywood market on the basis of major application was segmented by roof trusses, architectural millwork, beams and paneling. Roof trusses occupies the highest market share of 42.2% in 2017 as builders are using FRT plywood for the construction of roof trusses as specified by the building codes. As roof trusses support the horizontal, vertical and inclined structures of the buildings more number of plywood are used in its design. These type of structure are majorly seen in cinema halls, auditoriums, railways, stations, stadiums, and airports.
As of 2017, the global fire retardant plywood market is fragmented with presence of domestic and international players. However, on the basis of regional analysis the market is consolidated in North America with established players such as Lonza (Arch Wood Protection, Inc.), Flameproof Companies and Viance, LLC occupying major market share. The major players analyzed in the industry are Lonza (Arch Wood Protection, Inc.), Flameproof Companies, Viance, LLC, Capitol City Lumber Company, Bayou City Lumber, Hoover Treated Wood Products, Inc., Westminster Industries Ltd and Quality Support LLC
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About Adroit Market Research
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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