Thermowood Market Size, Share, Growth, and Industry Analysis, By Type (Hardwoods, Softwoods), By Application (Interior Applications, Exterior Applications) and Regional Forecast to 2032

Updated On: 04 November 2024

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THERMOWOOD MARKET REPORT OVERVIEW

The global Thermowood Market size was USD 0.439 billion in 2023, and the market is projected to touch USD 0.65 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period.

The thermowood industry is rapidly expanding due to an increase in the demand for sustainable and long-lasting wood products as people become more aware of the benefits of the usage of their wood. Thermowoods are mainly produced through a heat treatment process which improves the wood quality and longevity and provides resistance from rots, insects, and dampers, due to these factors this market is gaining more popularity mainly in the infrastructure and building industry. This trend is aligned with the growing trends towards ecologically responsible building methods.

Despite having positive sides, thermowood also faces several challenges such as higher costs than unentreated wood, and covers the integration of advanced technology and user-friendly experience. As industry is shifting towards sustainability in both residential and commercial buildings which is likely to grow exponentially in future years.

COVID 19 IMPACT

"COVID-19 Impact on the Thermowoods Market: Navigating Supply Chain Disruptions and Shifting Demand"

Covid 19 has had a mixed impact on the industry due the the disruption in the supply chain disruption creating a shortage in manpower due to lockdown and industrial limitations. However, the pandemic also boosted the trend towards adapting sustainable building materials, as companies become aware of environmental consequences, which is boosting the demand for home restoration and outdoor projects. As economies recover this market is going to get stable, with greater emphasis on eco-friendly materials.

LATEST TREND

"Rising Popularity of Thermowoods in Sustainable Architecture"

The thermowoods sector is experiencing rapid growth due to an increase in the demand for sustainable design mainly inclined toward environmental benefits, ensuring durability, and giving more aesthetic appeals which can attract more customers. Architecture now looking for thermowoods for green building projects that offer high resistance to moisture and decay without using any toxic chemicals. This market offers long-lasting woods with low-maintenance materials, resulting in this industry's very popular choice for environmentally friendly construction.

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THERMOWOOD MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Hardwoods, Softwoods

• Hardwoods: It mainly provides heat-treated wood such as ash and oak that are known for their enhanced durability.
• Softwoods: It mainly refers to the softwoods that are heat-treated woods such as pine and spruce that are valued for their affordability and broad use in building.

By Application

Based on application the global market can be categorized into Interior Applications, Exterior Applications

• Interior Applications: It mainly uses heat-treated wood for high-quality flooring paneling and furniture that is both durable and elegant
• Exterior Applications: It mainly refers to the use of heat-treated wood that is mainly weather-resistant decking and outdoor building that offers both durability and natural beauty.

DRIVING FACTORS

"Growing Demand for Sustainable Building Materials Boosts Thermowoods Sector"

This sector is expanding rapidly as the demand for eco-friendly building materials. As environmentally conscious, builders and consumers are looking for a sustainable product that has long-lasting properties. Heat-treated thermowoods provide better resistance properties with proper insulation and longer life without the use of chemicals, which makes it the perfect choice for the interiors.

"Rise of Green Construction Practices Propels Thermowoods Market Expansion"

The awareness of green construction and strong sustainability has boosted the thermowood market growth. As a popular certification mainly, LEED gained popularity due to the implementation of eco-friendly materials such as thermowoods, which have been created by using heat and steam. It ensures by emitting less carbon footprint and makes it aesthetically attractive which makes it a popular choice among architects and builders.

RESTRAINING FACTOR

"High Production Costs Pose a Challenge to Thermowoods Market Growth"

The major challenge this sector is facing is the high production cost due to the high energy consumption resulting the higher prices compared to untreated wood. This cost premium survival is creating obstacles for the market to grow, particularly in price-sensitive locations where consumers are less aware of the benefits of sustainability.

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THERMOWOOD MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa

"Europe Region Dominating the Market Due to the Presence of a Large Consumer Base"

The thermowood market shares vary with different geographical locations, Europe has the highest thermowood market share due to having strict environmental regulations and a long record for sustainable usage of wood. Particularly Finland and Sweden. North America is experiencing steady growth as the demand for eco-friendly is growing, yet traditional wood products are dominating in some places. In the Asia Pacific region, the market is still growing especially in nations such as Japan, China, and Australia, followed by the rise in the industrialization and growing emphasis on sustainability

KEY INDUSTRY PLAYERS 

"Key Industry Players Shaping the Market Through Innovation and Market Expansion "

The thermowood sector is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market. 

List of Market Players Profiled

• Oy Lunawood - Finland

• Thermoarena - Greece
• Thermory - Estonia
• Stora Enso - Finland
• Oy SWM-Wood - Finland
• Westwood Heat Treated Lumber - United Kingdom
• Novawood - Turkey
• Ducerf Group - France
• HeatWood - Sweden
• Tantimber - Turkey
• Thermalwood Canada - Canada

INDUSTRIAL DEVELOPMENT

May 2022: Thermory has announced its late product line in the thermowood industry which is mainly designed to improve sustainability in the building industry. This initiative mainly focuses on making innovative, eco-friendly solutions that can position themselves as a well-established position leader in the thermowood sector.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis considers both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including the market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.