Global fire retardant plywood market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Fire retardant plywood is also termed as FR grade plywood, is a type of plywood treated with special fire retardant chemicals during the time of production. It is exclusively used in public places, kitchens of restaurants, public theaters and halls, and others.
The factors that are playing a major role in the growth of fire retardant plywood market are the rising demand from end-users as reduces flame travel rate, it is cost-efficient, the high demand from designers and architects, and helps to alter the vapors released during the combustion process. However, the presence of substitutes may restrain the overall market in the years to come. The market is segmented based on type, product type, flame spread rating, application, distribution channel, and region.
Exterior and interior fire retardant plywood are the types that could be explored in fire retardant plywood in the forecast period. Interior sector comprises type A and type B fire retardant formulations. Type A fire retardant plywood is exclusively used in environments where wood is not exposed to weather and humidity is less than 95 percent. Whereas, type B fire retardant plywood is used where humidity does not exceed 75 percent.
Fire retardant treated lumber, fire retardant treated softwood plywood, and fire retardant treated softwood plywood are the product types that could be explored in fire retardant plywood market in the forecast period. Based on the flame spread rating, 0, 25 or less, 100, 75-200, and 74-200 could classify fire retardant plywood in the forecast period.
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The market could be categorized based on applications like a commercial, residential, trusses, stairwells, roof panels, farming, beams, automotive, laser cutting, sidewall sheathing, and others that could be explored in fire retardant plywood in the forecast period. Based on the distribution channel, offline channel and online channel could classify the market in the forecast period. The offline sector accounted for the substantial share of the market and is estimated to lead the overall market in the years to come.
Globally, North America accounted for the significant share of fire retardant plywood industry and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region and the growing demand from consumers. The United States and Canada are the major consumers of fire retardant plywood in the region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of fire retardant plywood in this region.
The key players of fire retardant plywood market are Hanson Plywood Ltd., Mets Wood, Chicago Flameproof, Bayou City Lumber, Hoover Treated Wood Products, Capital City Lumber, and Arch Wood Protection. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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