A new study from Global Info Research finds the worldwide market for thermally-modified wood will grow 3 percent each year over the next five years. This would increase its value from $328.5 million in 2019 to more than $380 million in 2024.
North America ranks the top in terms of production volume of modified wood worldwide - making up of 58 percent of the national market in 2016. Europe comes second, with 29 percent of the global market. Asia occupies 5.5 percent.
Lonza is the world's leading manufacturer of modified wood, occupying close to 13 percent of the global market share. Next up is Hoover Treated Wood Products with a market share of close to 11 percent.
Thermally modified wood is wood that has been heated to extreme temperatures in absence of oxygen, inducing some chemical changes that boost its durability. Low oxygen content prevents the wood from burning at these high temperatures. Modified wood products are usually more expensive than traditional outdoor woods such as cedar and pressure-treated southern yellow pine, but generally cheaper than hardwoods.
Have something to say? Share your thoughts with us in the comments below.