Dallas, TX -- (ReleaseWire) -- 06/23/2014 -- US demand to rise 5.3% annually through 2018
US demand for wood protection coatings and preservatives is expected to expand 5.3 percent per year to $5.1 billion in 2018. Growth in this industry is primarily driven by trends in key wood protection product applications such as furniture, decking, and siding. Because many of these applications are closely tied to construction activity levels, rebounds in both new and improvement and repair construction spending will propel sales of wood coatings and preservatives. The ongoing adoption of higher priced versions — e.g., combined paint and primer or stain and sealer coating products — will also boost value gains.
Even faster growth for wood protection products will be restrained by pressures on the market base of wood products. For instance, wood faces competition from alternative materials, such as wood plastic composites and plastics, which are often more durable and require less maintenance. Additionally, newer types of wood protection products last longer and are effective with fewer coats or less initial treatment, further restraining volume gains.
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Coatings to remain dominant over preservatives
Coatings (e.g., stains, paints, sealers, primers) account for the majority of wood protection product demand, with stains and paints holding the two largest shares. Re-coatings for maintenance projects account for the larger share of the market than do coatings used on new products. Maintenance uses helped support sales of coatings during the recession and slow recovery between 2008 and 2013, even as demand for new coatings fell over that period. Through 2018, improvements in new construction and consumer spending trends will boost increases in demand for wood protection coatings, particularly for new uses.
Preservatives, which are applied to lumber by wood treatment companies, account for the smaller portion of wood protection demand. Although alkaline copper quaternary (ACQ) was initially the most popular substitute for chromate copper arsenate (CCA) in residential end uses, copper azole’s share of demand grew to account for the largest share of preservative sales by 2013. Sales were fueled in particular by the availability of micronized formulations, which are less corrosive than conventional versions.
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Windows & doors, cabinets to lead gains by application
Among applications, paint is the dominant wood protection product used on siding and windows and doors, but stains and sealers are more widely utilized on decks, cabinets, furniture, and flooring. Additionally, outdoor applications are more likely to use pressure treated or otherwise preserved wood. In 2013, furniture, decking, and siding were the three largest applications in value terms. However, the smaller windows and doors and cabinets applications will achieve faster growth through 2018.
Manufacturing to be fastest growing market
Residential end uses make up the largest market for wood protection products, driven primarily by maintenance demand for items such as decks, siding, and fences. Manufacturer applied coatings and preservatives also account for a significant share of demand, with nonresidential and non building uses holding much smaller shares. The manufacturing market will grow the fastest through 2018, boosted by the recovery in construction activity and consumer spending.
Profiles 27 US industry players such as Akzo Nobel, Koppers, Masco, PPG, RPM, Sherwin-Williams & Valspar
This study analyzes the US market for wood protection coatings (stains, paints, sealers, primers, and other) and preservatives (copper azole, alkaline copper quaternary, chromated copper arsenate, creosote, pentachlorophenol, and other). Demand for wood protection coatings and preservatives is provided by type, application, and market. In addition, major manufacturers of wood protection coatings and preservatives are identified and profiled, and the key industry competitive variables are discussed. The entire report is framed within the wood protection coatings and preservatives industry’s economic, technological, and market environments.
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