U.S. Demand for Wood Coatings and Preservatives to Reach $4.8 Billion
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.