Global Modified Wood Market: Introduction
Wood modification is becoming very popular process of improving the natural properties of timber. The heat treatment is one of the most common process for wood modification. It helps to increase the wood dimension stability and insect and rot resistance. Also, the wood modification process can be applied to many wood products, but it is mainly suited for pine and spruce.
The modified wood is widely used for indoor and outdoor applications. Also, thermally modified wood is highly preferred all over the globe for several applications such as house construction and packaging of products. The modification process enhances the wood quality with its color and is also used for professional applications such as garden and yard. The modified wood is an eco-friendly product.
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Global Modified Wood Market: Dynamics
High focus on research and development by key manufacturers to produce innovative modified wood products will help to grow the global modified wood market over the forecast period. The rapidly increasing trend of constructing home in the developed nations including the U.S., Canada, Russia, and UK will fuel the modified wood products demand during the forecast period.
The macroeconomic factors such as rapidly increasing wood production in key countries along with the growing construction industry will stimulate the modified wood demand growth over the forecast period. Moreover, significantly growing demand for modified wood for packaging of different materials and industrial machines to provide high safety and security during transportation and logistics will increase the growth of the global modified wood market over the forecast period.
Furthermore, high mergers of key market players with local suppliers to enhance the overall revenue share will push the modified wood demand growth over the forecast period. The key restraining factors such as stringent government regulations to cut tree and high shipment cost of modified wood products may hinder the global modified wood market to grow over the forecast period.
Building and construction segment is anticipated to witness a significant growth rate in the global modified wood market over the forecast period due to the growing demand for modified wood for house construction, garden and other decoration purposes. On the other hand, the thermally modified wood segment is estimated to account for a high market share in the global modified wood market due to the increasing demand for modified wood for indoor and outdoor applications.
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Global Modified Wood Market: Regional Outlook
The global modified wood market is classified into seven regions: North America, Latin America, Europe, CIS & Russia, Japan, APEJ (the Asia Pacific excluding Japan) and MEA (the Middle East and Africa). Among the above-mentioned regions, North America accounts for a significantly high market share in the global modified wood market over the forecast period, due to the robust demand for modified wood for flooring and construction of garden as well as different other applications. With high production of wood in key European countries such as France, Belgium, Norway, Poland, and Italy will help to avail the modified wood at affordable prices in Europe that stimulate the modified wood market over the forecast period in the region. Besides, Russia is also one the key wood-producing countries that help to generate the demand for the modified wood in CIS & Russia over the forecast period for indoor and outdoor applications. Moreover, APEJ is estimated to showcase significant revenue growth in the global modified wood market over the forecast period owing to a rapidly growing population and increasing demand for modified wood for building furniture.
Global Modified Wood Market: Prominent Market Players
Few prominent players in the global modified wood market are Arbor Woods, Bailey Wood Products, Cambia, Intectural, Eastman Chemical, Pakari, Thermory AS, AccSys Technologies and other market players. The prominent players of the global modified wood market are strategically focusing on expansion of sales channel, as well as product innovation, to increase its overall market share and profitability in the global modified wood market.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
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Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.