CLEVELAND - According to a newly released study, demand for wood protection coatings and preservatives is expected to advance 4.5% per year through 2018 to $4.8 billion. Growth in the industry will primarily be driven by a rebound in residential construction activity, which in turn benefits the major applications in which wood coatings and preservatives are used, namely furniture, decking, and siding. These and other trends are presented in Solvents, a new study from The Freedonia Group Inc., a Cleveland-based market research firm.
Analyst Katherine Brink stated that, “Further advances will be restrained by the rising use of non-wood materials in several key applications. Coatings and preservatives will be limited in siding, where wood is forecast to account for a shrinking share of demand and faces fierce competition from alternative materials.” In decking applications, although wood still dominates, plastic composite decking continues to erode wood’s share, which also puts a dent in wood-protection product sales.
Demand for coatings is projected to rise 4.7% annually through 2018. Maintenance end-uses account for a slightly higher share of coatings demand, driven by the needs of the large existing base of wood items. Even so, demand for new coatings in construction-related applications will be the primary impetus for accelerating demand gains through 2018. Demand for wood preservatives is expected to increase 2.7% annually through 2018. Gains will be supported by the rising production of pressure-treated lumber as construction activity rebounds. Faster advances will be restrained by the maturity of a number of applications, such as railroad products and utility poles.
Wood protection product usage varies depending on the application. For instance, paint is the dominant product in siding and window and door applications, but stains and sealers are more widely used on decks, cabinets, furniture and flooring. Similarly, oil-based preservatives including creosote and penta tend to be utilized in industrial applications such as railroad products and utility poles, while water-based types such as copper azole and ACQ are used to treat wood intended for residential and non-industrial applications.
For additional information about the report, Wood Protection Coatings & Preservatives, visit www.freedoniagroup.com.