Published Date : 13 Sep 19 | Views: 130 | Industry : Consumer Goods
Increasing Number of Applications to Propel the UCFA Segment
The global fire retardant plywood market is
segmented based on the product as UCFA and UCFB. The UCFA product type is
expected to grab a major market share owing to its widespread application in roof
trusses, partition walls, floor joists, platforms, beams, architectural
millwork, and rafters. On the other hand, UCFB is anticipated to foresee steady
growth during the forecast period. This growth is attributed to surging use of
the product in the construction of balconies, roof covering, fences, and
paneling.
As far as application is concerned, the global market
is segregated as paneling, architectural millwork, roof trusses, and beam. Roof
trusses may emerge as a frontrunner in the market as constructors across the
globe are making extensive usage of fire retardant plywood in the building roof
trusses as stated by the building codes. These type of structures are mainly
observed in public places such as railway stations, arenas, airports, cinema
halls, and theatres.
North America to Take a Lead in the Coming Years
Presence of majority of the leading players in
North America is giving the region an upper hand over other regions, thereby
boosting the market growth. Furthermore, increasing focus of the regional
government on reducing the property damage and losses and raising the human
safety level is acting as a key driver in the market. Other regions such as
Europe and Asia Pacific are anticipated to emerge as lucrative regional markets
in the forthcoming years. Demand for fire retardant plywood is estimated
witness a surge in the developing economies, thereby driving the Asia Pacific
market in the coming years.
Market Participants to Have a Strong Grip on the Global
Fire Retardant Plywood Market
Some of the key players operating in the global
fire retardant plywood market are Hoover Treated Wood Products, Chicago
Flameproof, Viance, Bayou City Lumber, Mets Woo,
Arch Wood Protection, and Capital City Lumber. The key players in
the market are taking up extensive research and development in order to
manufacture novel products with improved features. They are expanding their
reach geographically in order to increase the number of customers.
Additionally, manufacturers are making use of less toxic chemicals to manufacture this type of
wood, which is expected to drive the fire retardant plywood market in the near
future.
Implementation of Fire Safety Standards to Have a
Major Impact on the Market Growth
Fire safety standards and regulations for the commercial
as well as residential buildings have been implemented by the government, which
is further expected to drive the global fire retardant plywood market in the
forecast period. Increased awareness pertaining to the accessibility of fire
resistance wood products is also another factor fuelling the fire retardant
plywood market growth. In addition, associated benefits of fire retardant
plywood including low tendency of spark and ignite, less burning, and decreased
tendency of the fire to spread over the plywood surface are increasing the
demand for fire retardant plywood.
Besides that, features such as low
flammability, lesser smoke emission, and higher flame penetration time make the
product high in demand. Booming construction sector and rising usage of wood in
the construction of buildings are also contributing significantly to the fire
retardant plywood market growth.