Modified Wood Market: Know The Key Growth Drivers Developments and Innovations
“The Latest Research Report Modified Wood Market – Global Industry Trend Analysis 2013 to 2017 and Forecast 2018 – 2028 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – MarketResearchReports.biz”
Global Modified Wood Market: Introduction
Modified wood can be defined as wood treated by thermal or chemical means to alter and improve properties such as wear and tear resistance, thermal and chemical resistance and protection from biological attacks. Wood modification essentially involves changing the cell wall structure of wood. There has been an increase in the demand for wood modification to improve resistance to termites, decay and marine organisms and extreme environmental conditions. Major principles of wood modification include lumen filling, cell wall filling, reaction with polymers, cross linking and degradation of cell wall. Modified wood is used for various applications in residential and commercial sectors such as decks, docks, marinas, outdoor structures and cladding. Wood is exposed to photochemical degradation when exposed to UV light. Modified wood also has improved resistance to shrinkage and swelling. Modified wood can be made through many methods including thermal modification, impregnation with resins and polymers, acetylation and others. Modified wood requires low maintenance, offers high resistance, improved hardness and aesthetics and is safe, non-toxic and environment-friendly, among others.
Global Modified Wood Market: Dynamics
Modified Wood Market Drivers
Thermal modification of wood results in increase in stability and durability of wood. Heat treatment or thermal treatment of wood removes resin, other extractives and their attached hydroxyl group from the wood. Therefore there has been rise in demand for thermally treated timber (TMT). Growing government initiatives especially in the European countries to promote the use of wood in construction and renovation sector
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The growing concern about global warming and increasing deforestation have caused a rise in awareness for the development of durable, eco-friendly and thermally and chemically stable wood. This would decrease the need for replacement of wood thus is an environmental friendly initiative.
There has been a rise in the demand for modified wood among various applications in which wood is exposed to high humid conditions such as bathroom furnishings, outdoor structure such as decking, door and window components, cladding and other outdoor areas.
Modified Wood Market Restraints
A major challenge faced by manufacturers in the global modified wood market include stringent regulations limiting the use of toxic materials used to protect wood from biological and other chemical attacks. Also, in some cases, there has been degradation in the mechanical properties of wood through modification. This can be a major restraint, especially for load bearing applications in the construction sector.
Modified Wood Market Trends
Manufacturers are focusing on the development of high quality modified wood applications. The market for modified wood is a fragmented market with a number of small scale players. Therefore, in order to expand the customer base, manufacturers are offering customized solutions for tailored applications.
Global Modified Wood Market: Segmentation
The global modified wood market can be segmented on the basis of the chemical used, process, end use and region.
On the basis of chemicals used, the global modified wood market can be segmented as:
- Carboxylic acids
- Acid chlorides
On the basis of process type, the global modified wood market can be segmented as:
- Thermal Treatment
- Chemical Modification/ Polymer Grafting
On the basis of end use sector, the global modified wood market can be segmented as:
Global Modified Wood Market: Regional Outlook
From a regional point of view, North America and Europe are anticipated to represent major shares in the demand for modified wood. This can be attributed to the high focus on aesthetics and appearance and the growth in construction and renovation activities. There are also increasing investments in the commercial sector, which is projected to create positive traction in the market. Regions such as Latin America and Middle East and Africa are projected to witness relatively higher growth rates. The growing development of the commercial sector, especially in the Middle East and Africa, is projected to create an upsurge in the modified wood market. Asia Pacific is anticipated to register rapid growth in the sales of modified wood. Urbanization has led to an increase in the construction industry and there has been an increase in construction sector spending over the past decade, which is projected to drive the demand for modified wood. Japan is also anticipated to hold a noteworthy share in the global modified wood market, expanding at a moderate CAGR over the forecast period.
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Global Modified Wood Market: Market Participants
Some of the market participants identified across the value chain of the global modified wood market include,
- Accsys Technologies
- Coillte Panel Products
- Houthandel Lambert van den Bosch
- Metsä Wood
- SWM-Wood Ltd
- Arbor wood Co
- CFP Woods
- Thermory AS
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The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
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- Growth pace of the market
- Competitive landscape and key players’ strategies
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