Modified Wood Market revenue will expand at a solid CAGR of 9.6%. | By Top Key Players Oy Lunawood Ltd, Accsys Technologies PLC, Kebony, Thermory AS, Stora Enso, Oy SWM-Wood Ltd, Houthandel Lambert van den Bosch.

The global modified wood is projected to experience solid growth through 2026, reaching an estimated revenue of around US$ 1.5 billion. Increasing demand for durable wood products from the construction industry is the key factor driving demand for modified wood market. Europe currently holds nearly 70% share in the global market value, and is likely to remain the most prominent regional consumer of modified wood.

Growing Concern Regarding Use of Chemicals for Wood Treatment to Create Opportunities for Thermally Modified Wood Manufacturers

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Growing concerns regarding illegal logging and increasing regulations on the use of chemicals for wood treatment are the two factors anticipated to create significant growth opportunities for thermally modified wood manufacturers in future.

In 2008, the amendments made in Lacey Act increased implementation of regulations associated with the trade of illegally harvested timber. Huge amount of penalties will be applied to those who illegally try to enter the supply chain. Increased enforcement will thus create significant growth opportunities for domestically sourced wood products, such as thermally modified wood. Furthermore, chemicals used for the treatment of wood, such as chromated copper arsenate, are potentially harmful chemicals and have been discontinued for residential applications in the US.
This has created significant demand for wood products treated using chemical-free processes, such as thermally modified wood. Hence, the demand for thermally modified wood is expected to grow at a significant pace during the forecast period.

modified wood market

Europe Holds a Majority of Share in Global Modified Wood Market

Europe is the most prominent market in the global modified wood market. The region is the largest producer as well as consumer of modified wood for various applications, such as decking, cladding, window, doors, etc. Additionally, the market in North America is also expected to witness significant transitions in future owing to growing preference for thermally modified wood over pressure treated wooden products.

Lack of Awareness About Concerned Product

The biggest challenge faced by the global manufacturers of modified wood is lack of awareness about the product among both consumers and intermediates. People across major economies do not have sufficient actual knowledge about what modified wood is. Moreover, those who know about this kind of wood either think it’s too expensive or not available easily. These two factors will have a significantly negative impact on the overall sale of modified wood globally.

High price point associated with products manufactured from modified wood will also remain a longstanding challenge facing manufacturers of modified wood, operating in the global marketplace.

Modified Wood Market: Competition Analysis

The global modified wood market is moderately consolidated. European players hold the dominant share in the Global modified wood market. Long-term supply contracts with wood providers will be among the key success factors for achieving long-term growth in the modified wood market. The manufacturers of modified wood are also engaged in the development and manufacturing of modified wood via other techniques rather than just using the thermal treatment process.

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Key market participants have been involved in production capacity expansion activities to enhance their presence in the market as well as to cater to the growing demand for modified wood products across the globe. Additionally, acquisitions and collaborations are among the key expansion strategies being followed by existing players operating in the global modified wood market.

Key Questions Answered in Modified Wood Market Report

How has the modified wood market evolved over the past five years?
What shape is the modified wood market expected to take in terms of volume and value during the study period?
What are some of the competition developments and trends in the modified wood market?
What are the key market dynamics in the modified wood market?
What are the underlying macro-economic and industry factors impacting the growth of the modified wood market?
What are the market positioning and key strategies of key manufacturers as per the modified wood market taxonomy?
What are the key challenges, opportunities and improvement factors for modified wood market players?
How is the competition structured in the modified wood market at present and how has it evolved over the past few years?

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