- Fire retardant treated wood prevents the spread of smoke and flame caused by fire. The fire retardant treated wood product market has witnessed many technological developments in the last few years. Most companies prefer to use wood preservatives in the wood. These preservatives are regulated by the CAN/CSA-O80 set of standards.
Key Drivers of the Global Fire Retardant Treated Wood Market
- Large number of consumers prefer to use fire retardant treated wood in the interior of buildings. It is also hugely popular in building high quality ceiling support. Fire retardant treated wood is helpful in case of emergency. Rising investment in residential and commercial complexes is expected to boost the market in the coming years.
- Furthermore, utility of fire retardant treated wood is increasing in exhibition stands, theater props, storage areas, and as internal partitions between rooms in open-plan buildings to make it more difficult for fire to spread through the open area.
- COVID-19 has created a major slowdown in the global fire retardant treated wood market. The U.S., India, UK, France, Mexico, Brazil, and Italy are the most affected countries. However, different governments are offering subsidies for industrial development, which is expected to drive the growth of the fire retardant treated wood market in the coming years.
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Improvement in Construction Industry to Create New Market Opportunities
- The global construction industry is growing at a higher pace in the last few years. Builders are using high quality products to improve the safety features in residential and commercial buildings. This factor is expected to create huge opportunity in the overall fire retardant treated wood market.
High Raw Material Cost to Restrict Market Growth
- Raw material cost of fire retardant treated wood is on the higher side. Treated wood price is increasing at a fast pace as a result of growing price of forestry equipment. This factor is a restraint for small and medium scale players at the global level.
Asia Pacific the Dominant Market for Fire Retardant Treated Wood
- Increasing number of wood production companies coupled with high foreign investment in different end-use segments in the Asia Pacific region is one of the key factors driving the demand for fire retardant treated wood in this region. China, Vietnam, and India are key markets. Furthermore, Japan and South Korea also account for significant share of the fire retardant treated wood market. Industrial growth in Brazil and South Africa are driving the demand for fire retardant treated wood in South America and Middle East & Africa. In South America, the interior fire retardant treated wood segment accounted for largest share in 2019.
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- Key manufacturers are operating their business from Asia Pacific and North America. However, these players have a global reach through their own sales channels or distributors. The market in North America and Europe also have significant share and are expected to expand at a significant pace in the coming years.
Key Players Operating in the Global Fire Retardant Treated Wood Market
Key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Small scale players are trying to increase their sales by improving their domestic market share. The global fire retardant treated wood market is fragmented in nature. Companies are working on product innovation and development to expand their customer base. Large scale companies are investing in research and development activities to improve their market share at the global and regional level. Some of the key players operating in the global fire retardant treated wood market are listed below:
- Conrad Forest Products
- Flameproof Companies
- Great Northern Lumber
- Hoover Treated Wood
- Quality Support, LLC.