Modified Wood Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Report
247 Pages
February 2024
Region: Global
Fairfield Market Research
ID: 5938821

Global Modified Wood Market Outlook

Unlocking Growth Opportunities, Overcoming Challenges, and Embracing Innovation

Market Overview: The global modified wood market is currently valued at approximately US$ 820 million, and forecasts project a remarkable CAGR of 13.0% through 2031, reaching a valuation of US$ 1950 Million. Decking, constituting 48% of the market in 2023, is expected to grow at a robust rate of 9.9% from 2024 to 2031, showcasing significant potential within the industry. Despite its immense potential, modified wood sales currently represent only 1% of the global wood market.

Key Opportunities for Manufacturers: The phase-out of potentially harmful chemicals in wood treatment processes, coupled with increasing awareness of environmentally friendly alternatives such as thermally modified wood, presents substantial growth avenues for modified wood suppliers. The booming construction sector, driven by population expansion and heightened demand for chemical-free, durable materials, further amplifies these opportunities.

Hindrances to Demand Growth: Challenges persist in the form of consumer and industry unawareness about modified wood's benefits and perceived high costs compared to alternatives. Additionally, outdated construction practices and technologies hinder market expansion. However, the forecasted surge in demand for skilled workers in the construction sector may offset these challenges to some extent.

Urbanization's Impact on Demand: Rapid urbanization fuels demand for modified wood in construction, as it finds versatile applications in residential, commercial, and industrial buildings. Increased urban migration drives construction activities, leading to heightened demand for quality materials like modified wood to meet rising living standards.

Innovative Manufacturing Trends: Advanced production techniques such as thermal treatment and furfurylation are revolutionizing the modified wood industry, offering high-quality products with reduced carbon emissions. This sustainable approach not only meets market demands but also contributes to environmental conservation efforts.

Country-wise Analysis: China remains a pivotal market for modified wood production and consumption, with significant growth anticipated in decking and cladding segments. Meanwhile, Germany's robust construction sector and high living standards continue to drive substantial demand for modified wood.

Category-wise Insights: The thermal treatment process gains traction due to its eco-friendly nature and suitability for various applications, particularly in decking and cladding. Residential buildings emerge as a significant end-use segment, accounting for approximately half of the demand for modified wood products.

COVID-19 Impact and Competitive Analysis: While the global market experienced setbacks in 2020, recovery is imminent as demand from residential, commercial, and industrial sectors rebounds. Key suppliers are expanding geographically through strategic alliances and prioritizing research and development for sustainable innovation.

Key Companies Profiled

Oy Lunawood Ltd
Accsys Technologies
Kebony
Thermory AS
Stora Enso
Oy SWM-Wood Ltd
Novawood
Karava Oy
Houthandel Lambert van den Bosch
ARBOR WOOD
Coillte Panel Products

Key Segments Covered in Modified Wood Industry Research

Modified Wood Market by Process

Thermal Treatment
Acetylation
Other Treatments

Modified Wood Market by Application

Modified Wood for Decks
Modified Wood for Siding
Modified Wood for Cladding
Modified Wood for Windows & Doors

Modified Wood Market by End Use

Modified Wood for Residential Use
Modified Wood for Commercial Use
Modified Wood for Industrial Use

Modified Wood Market by Region

North America Modified Wood Market
Latin America Modified Wood Market
Europe Modified Wood Market
East Asia Modified Wood Market
South Asia & Pacific Modified Wood Market
Middle East & Africa Modified Wood Market

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1. Executive Summary

1.1. Global Modified Wood Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Modified Wood Market Outlook, 2018 - 2031

3.1. Global Modified Wood Market Outlook, by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
3.1.1. Key Highlights
3.1.1.1. Thermal Treatment
3.1.1.2. Acetylation
3.1.1.3. Other Treatments
3.2. Global Modified Wood Market Outlook, by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
3.2.1. Key Highlights
3.2.1.1. Modified Wood for Decks
3.2.1.2. Modified Wood for Siding
3.2.1.3. Modified Wood for Cladding
3.2.1.4. Modified Wood for Windows & Doors
3.3. Global Modified Wood Market Outlook, by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
3.3.1. Key Highlights
3.3.1.1. Residential
3.3.1.2. Commercial
3.3.1.3. Institutional
3.4. Global Modified Wood Market Outlook, by Region, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
3.4.1. Key Highlights
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa

4. North America Modified Wood Market Outlook, 2018 - 2031

4.1. North America Modified Wood Market Outlook, by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. Thermal Treatment
4.1.1.2. Acetylation
4.1.1.3. Other Treatments
4.2. North America Modified Wood Market Outlook, by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.2.1. Key Highlights
4.2.1.1. Modified Wood for Decks
4.2.1.2. Modified Wood for Siding
4.2.1.3. Modified Wood for Cladding
4.2.1.4. Modified Wood for Windows & Doors
4.3. North America Modified Wood Market Outlook, by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.3.1. Key Highlights
4.3.1.1. Residential
4.3.1.2. Commercial
4.3.1.3. Institutional
4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Modified Wood Market Outlook, by Country, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.4.1. Key Highlights
4.4.1.1. U.S. Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.4.1.2. U.S. Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.4.1.3. U.S. Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.4.1.4. Canada Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.4.1.5. Canada Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.4.1.6. Canada Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Modified Wood Market Outlook, 2018 - 2031

5.1. Europe Modified Wood Market Outlook, by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. Thermal Treatment
5.1.1.2. Acetylation
5.1.1.3. Other Treatments
5.2. Europe Modified Wood Market Outlook, by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Modified Wood for Decks
5.2.1.2. Modified Wood for Siding
5.2.1.3. Modified Wood for Cladding
5.2.1.4. Modified Wood for Windows & Doors
5.3. Europe Modified Wood Market Outlook, by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.3.1. Key Highlights
5.3.1.1. Residential
5.3.1.2. Commercial
5.3.1.3. Institutional
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Modified Wood Market Outlook, by Country, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1. Key Highlights
5.4.1.1. Germany Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.2. Germany Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.3. Germany Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.4. U.K. Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.5. U.K. Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.6. U.K. Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.7. France Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.8. France Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.9. France Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.10. Italy Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.11. Italy Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.12. Italy Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.13. Turkey Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.14. Turkey Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.15. Turkey Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.16. Russia Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.17. Russia Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.18. Russia Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.19. Rest of Europe Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.20. Rest of Europe Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.1.21. Rest of Europe Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Modified Wood Market Outlook, 2018 - 2031

6.1. Asia Pacific Modified Wood Market Outlook, by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.1.1. Key Highlights
6.1.1.1. Thermal Treatment
6.1.1.2. Acetylation
6.1.1.3. Other Treatments
6.2. Asia Pacific Modified Wood Market Outlook, by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.2.1. Key Highlights
6.2.1.1. Modified Wood for Decks
6.2.1.2. Modified Wood for Siding
6.2.1.3. Modified Wood for Cladding
6.2.1.4. Modified Wood for Windows & Doors
6.3. Asia Pacific Modified Wood Market Outlook, by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.3.1. Key Highlights
6.3.1.1. Residential
6.3.1.2. Commercial
6.3.1.3. Institutional
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Modified Wood Market Outlook, by Country, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1. Key Highlights
6.4.1.1. China Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.2. China Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.3. China Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.4. Japan Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.5. Japan Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.6. Japan Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.7. South Korea Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.8. South Korea Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.9. South Korea Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.10. India Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.11. India Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.12. India Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.13. Southeast Asia Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.14. Southeast Asia Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.15. Southeast Asia Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.16. Rest of Asia Pacific Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.17. Rest of Asia Pacific Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.1.18. Rest of Asia Pacific Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Modified Wood Market Outlook, 2018 - 2031

7.1. Latin America Modified Wood Market Outlook, by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.1.1. Key Highlights
7.1.1.1. Thermal Treatment
7.1.1.2. Acetylation
7.1.1.3. Other Treatments
7.2. Latin America Modified Wood Market Outlook, by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.2.1.1. Modified Wood for Decks
7.2.1.2. Modified Wood for Siding
7.2.1.3. Modified Wood for Cladding
7.2.1.4. Modified Wood for Windows & Doors
7.3. Latin America Modified Wood Market Outlook, by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.3.1. Key Highlights
7.3.1.1. Residential
7.3.1.2. Commercial
7.3.1.3. Institutional
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Modified Wood Market Outlook, by Country, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1. Key Highlights
7.4.1.1. Brazil Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.2. Brazil Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.3. Brazil Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.4. Mexico Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.5. Mexico Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.6. Mexico Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.7. Argentina Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.8. Argentina Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.9. Argentina Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.10. Rest of Latin America Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.11. Rest of Latin America Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.1.12. Rest of Latin America Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Modified Wood Market Outlook, 2018 - 2031

8.1. Middle East & Africa Modified Wood Market Outlook, by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.1.1. Key Highlights
8.1.1.1. Thermal Treatment
8.1.1.2. Acetylation
8.1.1.3. Other Treatments
8.2. Middle East & Africa Modified Wood Market Outlook, by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.2.1. Key Highlights
8.2.1.1. Modified Wood for Decks
8.2.1.2. Modified Wood for Siding
8.2.1.3. Modified Wood for Cladding
8.2.1.4. Modified Wood for Windows & Doors
8.3. Middle East & Africa Modified Wood Market Outlook, by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.3.1. Key Highlights
8.3.1.1. Residential
8.3.1.2. Commercial
8.3.1.3. Institutional
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Modified Wood Market Outlook, by Country, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1. Key Highlights
8.4.1.1. GCC Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.2. GCC Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.3. GCC Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.4. South Africa Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.5. South Africa Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.6. South Africa Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.7. Egypt Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.8. Egypt Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.9. Egypt Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.10. Rest of Middle East & Africa Modified Wood Market by Material, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.11. Rest of Middle East & Africa Modified Wood Market by Application, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.1.12. Rest of Middle East & Africa Modified Wood Market by End Use, Value (US$ Mn) and Volume (Cubic Meters), 2018 - 2031
8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. By End Use vs by Application Heat map
9.2. Manufacturer vs by Application Heatmap
9.3. Company Market Share Analysis, 2023
9.4. Competitive Dashboard
9.5. Company Profiles
9.5.1. Accsys Technologies
9.5.1.1. Company Overview
9.5.1.2. Product Portfolio
9.5.1.3. Financial Overview
9.5.1.4. Business Strategies and Development
9.5.2. Oy Lunawood Ltd
9.5.2.1. Company Overview
9.5.2.2. Product Portfolio
9.5.2.3. Financial Overview
9.5.2.4. Business Strategies and Development
9.5.3. Kebony
9.5.3.1. Company Overview
9.5.3.2. Product Portfolio
9.5.3.3. Financial Overview
9.5.3.4. Business Strategies and Development
9.5.4. Thermory AS
9.5.4.1. Company Overview
9.5.4.2. Product Portfolio
9.5.4.3. Financial Overview
9.5.4.4. Business Strategies and Development
9.5.5. Stora Enso
9.5.5.1. Company Overview
9.5.5.2. Product Portfolio
9.5.5.3. Financial Overview
9.5.5.4. Business Strategies and Development
9.5.6. Oy SWM-Wood Ltd
9.5.6.1. Company Overview
9.5.6.2. Product Portfolio
9.5.6.3. Financial Overview
9.5.6.4. Business Strategies and Development
9.5.7. Novawood
9.5.7.1. Company Overview
9.5.7.2. Product Portfolio
9.5.7.3. Financial Overview
9.5.7.4. Business Strategies and Development
9.5.8. Karava Oy
9.5.8.1. Company Overview
9.5.8.2. Product Portfolio
9.5.8.3. Financial Overview
9.5.8.4. Business Strategies and Development
9.5.9. Houthandel Lambert
9.5.9.1. Company Overview
9.5.9.2. Product Portfolio
9.5.9.3. Financial Overview
9.5.9.4. Business Strategies and Development
9.5.10. ARBOR WOOD
9.5.10.1. Company Overview
9.5.10.2. Product Portfolio
9.5.10.3. Financial Overview
9.5.10.4. Business Strategies and Development
9.5.11. Coillte Panel Products
9.5.11.1. Company Overview
9.5.11.2. Product Portfolio
9.5.11.3. Financial Overview
9.5.11.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Companies Mentioned

Oy Lunawood Ltd
Accsys Technologies
Kebony
Thermory AS
Stora Enso
Oy SWM-Wood Ltd
Novawood
Karava Oy
Houthandel Lambert van den Bosch
ARBOR WOOD
Coillte Panel Products

Unlocking Growth Opportunities, Overcoming Challenges, and Embracing Innovation

Key Companies Profiled

Key Segments Covered in Modified Wood Industry Research

Modified Wood Market by Process

Modified Wood Market by Application

Modified Wood Market by End Use

Modified Wood Market by Region

Table of Contents

Companies Mentioned

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