Modified Wood Market Promising Growth Opportunities over 2018 to 2028

Rising consumer demand for green alternatives to tropical hardwood has led to the development of eco-friendly modified wood. Modified wood stretches the borders of what wood in its natural state is proficient of doing. Modified wood can be defined as wood processed using chemical treatment, with or without heat, to impart it with the significant properties which differentiate it from those of original wood. Modification of wood can be done by heat treatment, acetylation and polymer grafting.

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Modification of wood is done to enhance its properties, features and expand the range of its usability in a wide spectrum of residential and commercial applications. The wood modification technology increases the lifespan of wood and leads to other changes, such as increased dimensional stability and hardness. Modified wood is on the verge of replacing tropical hardwood due to its wide offerings. Modified wood offers excellent characteristics, such as refined and beautiful shape, maximum hardness, outstanding stability, expansion of lifespan and eco-friendly attributes. Thus, the overall outlook for the global modified wood market is projected to be progressive during the forecast period.

Modified Wood Market: Dynamics

There are different types of wood available in the market. However, consumers’ perception towards sustainability issues will drive their attention towards eco-friendly modified wood. This factor is expected to drives the modified wood market during the forecast period. During the last decade, there has been a significant increase in demand for modified wood. However, ongoing annihilation of hardwood forests and uncontrolled harvesting of hardwood and softwood forests is leading to global warming. Exceptional properties of modified wood, such as suitability for challenging environment, changing climatic condition and increase in decay resistance, are the key factors driving the growth of the global modified wood market during the forecast period. Availability of modified wood in different color as well as their smooth & silky texture and rusty & knotty look is another factor increasing the demand for modified wood.

Modified wood has a profound brown color which steadily changes to stunning silver grey patina over time, which makes it the brilliant choice for decking, siding, flooring and other applications. This factor is likely to fuel the growth of the global modified wood market during the forecast period. The admirable characteristics of modified wood require less maintenance as compared to hardwood. This factor is expanding the use of modified wood in various residential as well as commercial applications and pushing the growth of the global modified wood market. Thus, the overall outlook for the global modified wood market is likely to be positive during the forecast period.

Modified Wood Market: Regional Outlook

The Asia Pacific Excluding Japan region is the fastest growing market for modified wood. The demand of modified wood in this region is due to the expansion of the building and construction industry, which is creating significant demanding for modified wood. Western Europe appears to be a major market for modified wood due to growing consumer awareness and rising stringent norms regarding the environment. The North America region is a significant shareholder in the modified wood market and is projected to attain positive growth during the forecast period. Increasing focus of Latin America and the Asia Pacific excluding Japan region towards infrastructural development will lead to potential demand for modified wood during the forecast period. Hence, this factor is projected to fuel the growth of modified wood during the forecast period. Eastern Europe and the Middle East & Africa are expected to attain positive growth in the modified wood market during the forecast period. The Japan region is also a significant shareholder in the modified wood market owing to significantly modified wood manufacturing capacity.

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Modified Wood Market: Segmentation

On the basis of process, the global modified wood market is segmented into:

Heat Treatment
Acetylation
Polymer Grafting
On the basis of applications, the global modified wood market is segmented into:

Decking
Siding
Flooring
Others
On the basis of applications, the global modified wood market is segmented into:

Residential
Commercial
Household
Others
Modified Wood Market: Key Players

Some of the key players operating the global modified wood market are:

Arbor Wood Co.
Stora Enso
Bailey Wood Products
Kebony
Bingaman & Son Lumber, Inc.
Timura Holzmanufaktur GmbH
HOXAN CORPORATION
Lunawood
Rhinowood
Timbermax
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