Fire Retardant Treated Wood: Introduction
- 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.
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.
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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.
- 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.
- RAM Forest Products
- Western Wood Preserving Co.
- Westminster Industries Ltd.
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Global Fire Retardant Treated Wood Market: Research Scope
Global Fire Retardant Treated Wood Market, by Type
- Interior Fire-retardant Treated
- Exterior Fire-retardant Treated
Global Fire Retardant Treated Wood Market, by Application
- Residential Constructions
- Institutional Buildings
- Commercial Buildings
Global Fire Retardant Treated Wood Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global fire retardant treated wood market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.