Global Modified Wood Market Forecast To 2031Posted by sandeep gade on August 23rd, 2022 The global modified wood market is anticipated to witness a high growth rate of around 9.5% over the decade. Growing urbanization, expanding building sector, and rising individual living standards are expected to drive market expansion. In residential applications, modified wood is gaining traction as a construction material. Decking, cladding, outside fencing, and a variety of other inside uses are all produced with modified wood. Because of its high aesthetic appeal and eco-friendly qualities, increased imports of modified wood are being witnessed in Latin America and the Middle East and Africa. Due to an increase in the development of residential, industrial, and commercial buildings, particularly in emerging countries, the market for decking, cladding, window frames, and exterior doors is expected to grow over the coming years. Thermally modified wood is mostly used in building and construction. Architects, builders, and homeowners employ thermally treated wood in the construction of houses and buildings because of its appearance, durability, and dimensional stability. Decking and cladding are also made from thermally treated wood. It gives the siding a royal texture, color, consistency, grade, stability, and longevity. Request For Free Sample Report Of Global Modified Wood Market @ https://www.persistencemarketresearch.com/samples/23839 Due to widespread lockdowns and transportation limitations, the Covid-19 pandemic has had a substantial influence on market growth in the year 2020. The construction business, has been placed on pause as a result of this. As a result of the halt in the construction of residential, commercial, and institutional buildings, the demand for external wall materials, furniture, and flooring materials has decreased. Acquisitions, expansions, investments, etc., by key market players are being witnessed across the landscape. In December 2019, investment fund Accent Equity 2017 L.P. signed an agreement to acquire Lunawood from funds managed by CapMan and a number of minority shareholders. On 28 May 2021, a new wood acetylation reactor was installed at the Accsys production facility for Accoya wood in Arnhem, the Netherlands. This will increase the annual production capacity of Accoya wood from ~60,000m3 to ~80,000m3 per year. For critical insights on this market, request for customization here@ https://www.persistencemarketresearch.com/request-customization/23839 Competitive Landscape The global market for modified wood has been identified as a fragmented space owing to substantial presence of key market participants along with enormous number of small and medium size players. Some of the key market players included in the report are Oy Lunawood Ltd, Accsys Technologies PLC, Thermory AS, Stora Enso, Kebony, Oy SWM-Wood Ltd, and Novawood, Kärävä Oy. These market participants are expected to maintain a competitive environment across the world. Key market participants are focusing on expansion through acquisitions, collaborations, and by entering into emerging economies. Market players are also launching new and innovative products that are associated with low carbon emissions. For instance, in August 2020, Accsys and Eastman Chemical Company introduced Accsys USA LLC, a joint venture company. To serve the North American market, the joint venture plans to build and operate an Accoya wood production plant. Buy The Complete Report to read the analysed strategies adopted by the top vendors either to retain or gain market share@ https://www.persistencemarketresearch.com/checkout/23839 About Us Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs. Persistence Market Research stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, Persistence Market Research’s engagement models are highly flexible without compromising on its deep-seated research values. Contact Us: Persistence Market Research Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States U.S. Ph. – +1-646-568-7751 USA-Canada Toll-free – +1 800-961-0353 Like it? Share it! More by this author |