Catherine Diamond, Associate Editor 02.24.15
Thanks to a rise in the housing market, the wood coatings market has seen steady gains in recent years. In fact, according to Phil Phillips, President of CHEMARK Consulting, a growth of about 3.1% over the next 15 years is expected for the aggregate of wood protective and preservatives from $3100 million in 2013 to $4900 million by 2028.
“Currently wood coatings represent 84%, while wood preservatives hold a 16% SOM, Phillips said. “By 2023, the shares will shift three percentage points to 81% for coatings and 19% for preservatives.”
The key segments for this market include siding and decking, furniture and cabinets. In 2013, sliding and decking made up $698 and $673 million (22.5% & 21.7%) of the market, while furniture made up at $304 million and cabinets $332 million (9.8% & 10.7%).
“However,” Phillips said, “in 15 years we project the following: siding will grow at below 2% to $852 (17.4%); decking will grow aggressively at 4.3% to $1288 million (26.3%); furniture will go from 9.8 to 9.2% in 2028; and cabinets will go up from 10.7% to 11.8% in 2028. Those classified as ‘other&rsqu
“Currently wood coatings represent 84%, while wood preservatives hold a 16% SOM, Phillips said. “By 2023, the shares will shift three percentage points to 81% for coatings and 19% for preservatives.”
The key segments for this market include siding and decking, furniture and cabinets. In 2013, sliding and decking made up $698 and $673 million (22.5% & 21.7%) of the market, while furniture made up at $304 million and cabinets $332 million (9.8% & 10.7%).
“However,” Phillips said, “in 15 years we project the following: siding will grow at below 2% to $852 (17.4%); decking will grow aggressively at 4.3% to $1288 million (26.3%); furniture will go from 9.8 to 9.2% in 2028; and cabinets will go up from 10.7% to 11.8% in 2028. Those classified as ‘other&rsqu
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