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Global Thermally Modified Wood Boards Market Research Report - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2033)

Published Aug 13, 2025
Length 217 Pages
SKU # LOOK20514509

Description

Definition and Scope:

Thermally Modified Wood is referring to a wood which is modified by a controlled pyrolysis process. In this process, the wood is heated up to 180°Celcius, in the absence of oxygen. This process helps the chemical to change its cell structure of cell wall components in the wood in order to increase its durability. During this process, the low oxygen content prevents the wood from burning even at the high temperature. There are five thermal modification processes: Thermowood, Retification Process, Les Bois Perdure, Plato Process, and Oil Heat Treatment. Thermal modification uses heat to remove organic compounds from the wood cells, so it will not absorb water, expand, contract, or provide nourishment for insects or fungi. The high heat produces a naturally durable wood that is permanently resistant to water, insects, and decay. Because the wood is not absorbing chemicals to be treated, but rather removing moisture, the wood is lightweight. Thermally modified lumber is also more dimensionally stable because it is less susceptible to cupping and warping. The wood has increased heat resistance and weather resistance as well. When properly maintained, it will not chip, rot, or warp over the years. Many products offered in this category are rated for 20 or 25 years of exterior use. This thermally modified wood is eco-friendly since harsh chemicals are never used in the development of this product. Unlike pressure-treated lumber, it will not corrode metals. As previously mentioned, it is also dimensionally stable with incredible durability. Since thermally modified wood does not absorb or hold moisture as it would prior to treatment, species that typically do not perform well in outdoor or wet environments can now be used in a variety of applications, such as decking, siding, or flooring. It can also be used in environments that are less stable in moisture content, such as basements (with proper sub-flooring).

The global Thermally Modified Wood Boards market size is projected to reach US$ 903.15 Million by 2028, from US$ 514.22 million in 2021, at a CAGR of 7.18% during 2022-2028. Excellent properties of thermally modified wood and the accompanying increase in demand for thermally modified wood in both indoor and outdoor applications are the core drivers for the growth of the thermally modified wood market. Thermally modified wood is widely used in interior applications because it offers several advantages over other materials. It is stable and will not shrink or expand due to changes in humidity, making it ideal for floors, cabinets and paneling. Heat-modified wood also has a natural finish that can enhance the look of any interior space. Heat-modified wood is also used in outdoor applications because it does not warp or rot when exposed to the elements. The use of heat-modified wood on decks has increased due to its natural weatherability and low maintenance requirements. Additionally, decks made from heat-modified wood are available in a variety of finishes to suit different types of decorating styles.

At the same time, increasing investment, ease of handling advantages, and growing trend in green building construction are important drivers for thermally modified wood market growth.

Segment by Type, the Thermally Modified Wood Boards can be split into Thermo-S, Thermo-D, etc. Thermo-S is a more important market for Thermally Modified Wood Boards due to its stability and has captured 62.04% in 2021 % market share. But over the forecast period, we estimate that the Thermo-D market size will grow at a higher rate, reaching a CAGR of 7.55%.

From the perspective of application scenarios, the Thermally Modified Wood Boards market can be mainly divided into Commercial and Residential. The Commercial market, which has more customers and is larger in scale, has always been ahead of Residential and has already captured a 78.41% market share of the entire market in 2021.

On basis of geography, the Thermally Modified Wood Boards market is segmented into North America, Europe, Asia-Pacific, South America ,Middle East and Africa, etc. In 2021, the European market dominates the entire Thermally Modified Wood Boards market and has already Occupied 74.39% of the market share. Europe is seen as a valuable market for manufacturers. Heat-modified wood is an excellent choice for furniture manufacturers because it is very durable while maintaining stability in the presence of increased humidity. This feature, coupled with the growing trend of green building development, is expected to promote its use in the coming years.

The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period. The growth of this market can be attributed to the increasing demand from end-users such as furniture manufacturers and shipping industry. Furthermore, the presence of key players in the region has led to the development of innovative products that meet international standards.

The Thermally Modified Wood Boards market has a high degree of concentration, and the corresponding concentration indicators CR5 and HHI have reached 73.82% and 13.41% respectively in 2021. We expect both metrics to rise slightly in 2022. In the United States, the largest heat-modified producer is Westwood, which first began heat-treatment production in the United States in 2007. In Europe, commercial-scale thermally modified wood production is mainly concentrated in Estonia. Estonia is geographically close to Finland's main thermal kiln producing countries, while labour and overhead costs are lower than in Finland or Scandinavian countries. Three major producers of heat-modified wood emerged in Estonia in the late 1990s: Brenstol OU, Tre-Timber OU and Ha-Serv. All 3 companies focus on providing sauna materials and interior floors for the Finnish market - Brenstol specialises in hardwoods and Tre-Timber specialises in softwoods. In the early 2000s, Brenstol acquired Tre-Timber and became the largest producer of thermally modified wood.

Around that time, the market for heat-modified wood expanded dramatically from traditional applications for sauna materials to include exterior products such as decking (terrace) and cladding (siding). While Ha-Serv continued to focus primarily on the Finnish sauna market, Brenstol established and began exporting to Europe and Japan under the brand Thermory, which has become the most well-known brand of thermally modified wood in these regions. The market for thermally modified exterior products is growing very rapidly as European consumers increasingly seek alternatives to tropical woods from Asia, Africa and South America. Turkish producer Nova Wood has also started producing thermally modified wood and has become a small player in the European market.

In 2012, Brenstol established a subsidiary Thermory USA in the United States and began to aggressively expand in the global market. The Thermory brand is established in the United States and Canada and ships to more than 55 countries around the world. In 2016, Thermory had revenues of EUR 29 million and a profit of EUR 1.8 million.

Major players in the current market include Stora Enso, Thermory AS, Oy Lunawood Ltd, Novawood, Oy SWM-Wood Ltd, Thermoarena OÜ, AHC Hardwood Group, Cambia by NFP, Timura Holzmanufaktur GmbH, Westwood Heat Treated Lumber Corporation, Bingaman & Son Lumber , Inc., Kärävä Oy and Arbor Wood.

This report offers a comprehensive analysis of the global Thermally Modified Wood Boards market, examining all key dimensions. It provides both a macro-level overview and micro-level market details, including market size, trends, competitive landscape, niche segments, growth drivers, and key challenges.

Report Framework and Key Highlights:

Market Dynamics: Identification of major market drivers, restraints, opportunities, and challenges.

Trend Analysis: Examination of ongoing and emerging trends impacting the market.

Competitive Landscape: Detailed profiles and market positioning of major players, including market share, operational status, product offerings, and strategic developments.

Strategic Analysis Tools: SWOT Analysis, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis

Market Segmentation: By type, application, region, and end-user industry.

Forecasting and Growth Projections: In-depth revenue forecasts and CAGR analysis through 2033.

This report equips readers with critical insights to navigate competitive dynamics and develop effective strategies. Whether assessing a new market entry or refining existing strategies, the report serves as a valuable tool for:

Industry players

Investors

Researchers

Consultants

Business strategists

And all stakeholders with an interest or investment in the Thermally Modified Wood Boards market.

Global Thermally Modified Wood Boards Market: Segmentation Analysis and Strategic Insights

This section of the report provides an in-depth segmentation analysis of the global Thermally Modified Wood Boards market. The market is segmented based on region (country), manufacturer, product type, and application. Segmentation enables a more precise understanding of market dynamics and facilitates targeted strategies across product development, marketing, and sales.

By breaking the market into meaningful subsets, stakeholders can better tailor their offerings to the specific needs of each segment—enhancing competitiveness and improving return on investment.

Global Thermally Modified Wood Boards Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Companies Profiled

Stora Enso

Thermory AS

Oy Lunawood Ltd

Novawood

Oy SWM-Wood Ltd

Thermoarena OÜ

AHC Hardwood Group

Cambia by NFP

Timura Holzmanufaktur GmbH

Westwood Heat Treated Lumber Corporation

Bingaman & Son Lumber, Inc.

Kärävä Oy

Arbor Wood

Market Segmentation by Type

Thermo-S

Thermo-D

Market Segmentation by Application

Commercial

Residential

Geographic Segmentation

North America: United States, Canada, Mexico

Europe: Germany, France, Italy, U.K., Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium, Russia.

Asia-Pacific: China, Japan, South Korea, India, Australia, Indonesia, Malaysia, Philippines, Singapore, Thailand

South America: Brazil, Argentina, Colombia.

Middle East and Africa (MEA): Saudi Arabia, United Arab Emirates, Egypt, Nigeria, South Africa, Rest of MEA

Report Framework and Chapter Summary

Chapter 1: Report Scope and Market Definition

This chapter outlines the statistical boundaries and scope of the report. It defines the segmentation standards used throughout the study, including criteria for dividing the market by region, product type, application, and other relevant dimensions. It establishes the foundational definitions and classifications that guide the rest of the analysis.

Chapter 2: Executive Summary

This chapter presents a concise summary of the market’s current status and future outlook across different segments—by geography, product type, and application. It includes key metrics such as market size, growth trends, and development potential for each segment. The chapter offers a high-level overview of the Thermally Modified Wood Boards Market, highlighting its evolution over the short, medium, and long term.

Chapter 3: Market Dynamics and Policy Environment

This chapter explores the latest developments in the market, identifying key growth drivers, restraints, challenges, and risks faced by industry participants. It also includes an analysis of the policy and regulatory landscape affecting the market, providing insight into how external factors may shape future performance.

Chapter 4: Competitive Landscape

This chapter provides a detailed assessment of the market's competitive environment. It covers market share, production capacity, output, pricing trends, and strategic developments such as mergers, acquisitions, and expansion plans of leading players. This analysis offers a comprehensive view of the positioning and performance of top competitors.

Chapters 5–10: Regional Market Analysis

These chapters offer in-depth, quantitative evaluations of market size and growth potential across major regions and countries. Each chapter assesses regional consumption patterns, market dynamics, development prospects, and available capacity. The analysis helps readers understand geographical differences and opportunities in global markets.

Chapter 11: Market Segmentation by Product Type

This chapter examines the market based on product type, analyzing the size, growth trends, and potential of each segment. It helps stakeholders identify underexplored or high-potential product categories—often referred to as “blue ocean” opportunities.

Chapter 12: Market Segmentation by Application

This chapter analyzes the market based on application fields, providing insights into the scale and future development of each application segment. It supports readers in identifying high-growth areas across downstream markets.

Chapter 13: Company Profiles

This chapter presents comprehensive profiles of leading companies operating in the market. For each company, it details sales revenue, volume, pricing, gross profit margin, market share, product offerings, and recent strategic developments. This section offers valuable insight into corporate performance and strategy.

Chapter 14: Industry Chain and Value Chain Analysis

This chapter explores the full industry chain, from upstream raw material suppliers to downstream application sectors. It includes a value chain analysis that highlights the interconnections and dependencies across various parts of the ecosystem.

Chapter 15: Key Findings and Conclusions

The final chapter summarizes the main takeaways from the report, presenting the core conclusions, strategic recommendations, and implications for stakeholders. It encapsulates the insights drawn from all previous chapters.

Table of Contents

217 Pages
1 Introduction to Research & Analysis Reports
1.1 Thermally Modified Wood Boards Market Definition
1.2 Thermally Modified Wood Boards Market Segments
1.2.1 Segment by Type
1.2.2 Segment by Application
2 Executive Summary
2.1 Global Thermally Modified Wood Boards Market Size
2.2 Market Segmentation – by Type
2.3 Market Segmentation – by Application
2.4 Market Segmentation – by Geography
3 Key Market Trends, Opportunity, Drivers and Restraints
3.1 Key Takeway
3.2 Market Opportunities & Trends
3.3 Market Drivers
3.4 Market Restraints
3.5 Market Major Factor Assessment
4 Global Thermally Modified Wood Boards Market Competitive Landscape
4.1 Global Thermally Modified Wood Boards Sales by Manufacturers (2020-2025)
4.2 Global Thermally Modified Wood Boards Revenue Market Share by Manufacturers (2020-2025)
4.3 Thermally Modified Wood Boards Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
4.4 New Entrant and Capacity Expansion Plans
4.5 Mergers & Acquisitions
5 Global Thermally Modified Wood Boards Market by Region
5.1 Global Thermally Modified Wood Boards Market Size by Region
5.1.1 Global Thermally Modified Wood Boards Market Size by Region
5.1.2 Global Thermally Modified Wood Boards Market Size Market Share by Region
5.2 Global Thermally Modified Wood Boards Sales by Region
5.2.1 Global Thermally Modified Wood Boards Sales by Region
5.2.2 Global Thermally Modified Wood Boards Sales Market Share by Region
6 North America Market Overview
6.1 North America Thermally Modified Wood Boards Market Size by Country
6.1.1 USA Market Overview
6.1.2 Canada Market Overview
6.1.3 Mexico Market Overview
6.2 North America Thermally Modified Wood Boards Market Size by Type
6.3 North America Thermally Modified Wood Boards Market Size by Application
6.4 Top Players in North America Thermally Modified Wood Boards Market
7 Europe Market Overview
7.1 Europe Thermally Modified Wood Boards Market Size by Country
7.1.1 Germany Market Overview
7.1.2 France Market Overview
7.1.3 U.K. Market Overview
7.1.4 Italy Market Overview
7.1.5 Spain Market Overview
7.1.6 Sweden Market Overview
7.1.7 Denmark Market Overview
7.1.8 Netherlands Market Overview
7.1.9 Switzerland Market Overview
7.1.10 Belgium Market Overview
7.1.11 Russia Market Overview
7.2 Europe Thermally Modified Wood Boards Market Size by Type
7.3 Europe Thermally Modified Wood Boards Market Size by Application
7.4 Top Players in Europe Thermally Modified Wood Boards Market
8 Asia-Pacific Market Overview
8.1 Asia-Pacific Thermally Modified Wood Boards Market Size by Country
8.1.1 China Market Overview
8.1.2 Japan Market Overview
8.1.3 South Korea Market Overview
8.1.4 India Market Overview
8.1.5 Australia Market Overview
8.1.6 Indonesia Market Overview
8.1.7 Malaysia Market Overview
8.1.8 Philippines Market Overview
8.1.9 Singapore Market Overview
8.1.10 Thailand Market Overview
8.1.11 Rest of APAC Market Overview
8.2 Asia-Pacific Thermally Modified Wood Boards Market Size by Type
8.3 Asia-Pacific Thermally Modified Wood Boards Market Size by Application
8.4 Top Players in Asia-Pacific Thermally Modified Wood Boards Market
9 South America Market Overview
9.1 South America Thermally Modified Wood Boards Market Size by Country
9.1.1 Brazil Market Overview
9.1.2 Argentina Market Overview
9.1.3 Columbia Market Overview
9.2 South America Thermally Modified Wood Boards Market Size by Type
9.3 South America Thermally Modified Wood Boards Market Size by Application
9.4 Top Players in South America Thermally Modified Wood Boards Market
10 Middle East and Africa Market Overview
10.1 Middle East and Africa Thermally Modified Wood Boards Market Size by Country
10.1.1 Saudi Arabia Market Overview
10.1.2 UAE Market Overview
10.1.3 Egypt Market Overview
10.1.4 Nigeria Market Overview
10.1.5 South Africa Market Overview
10.2 Middle East and Africa Thermally Modified Wood Boards Market Size by Type
10.3 Middle East and Africa Thermally Modified Wood Boards Market Size by Application
10.4 Top Players in Middle East and Africa Thermally Modified Wood Boards Market
11 Thermally Modified Wood Boards Market Segmentation by Type
11.1 Evaluation Matrix of Segment Market Development Potential (Type)
11.2 Global Thermally Modified Wood Boards Sales Market Share by Type (2020-2033)
11.3 Global Thermally Modified Wood Boards Market Size Market Share by Type (2020-2033)
11.4 Global Thermally Modified Wood Boards Price by Type (2020-2033)
12 Thermally Modified Wood Boards Market Segmentation by Application
12.1 Evaluation Matrix of Segment Market Development Potential (Application)
12.2 Global Thermally Modified Wood Boards Market Sales by Application (2020-2033)
12.3 Global Thermally Modified Wood Boards Market Size (M USD) by Application (2020-2033)
12.4 Global Thermally Modified Wood Boards Sales Growth Rate by Application (2020-2033)
13 Company Profiles
13.1 Stora Enso
13.1.1 Stora Enso Company Overview
13.1.2 Stora Enso Business Overview
13.1.3 Stora Enso Thermally Modified Wood Boards Major Product Offerings
13.1.4 Stora Enso Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.1.5 Key News
13.2 Thermory AS
13.2.1 Thermory AS Company Overview
13.2.2 Thermory AS Business Overview
13.2.3 Thermory AS Thermally Modified Wood Boards Major Product Offerings
13.2.4 Thermory AS Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.2.5 Key News
13.3 Oy Lunawood Ltd
13.3.1 Oy Lunawood Ltd Company Overview
13.3.2 Oy Lunawood Ltd Business Overview
13.3.3 Oy Lunawood Ltd Thermally Modified Wood Boards Major Product Offerings
13.3.4 Oy Lunawood Ltd Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.3.5 Key News
13.4 Novawood
13.4.1 Novawood Company Overview
13.4.2 Novawood Business Overview
13.4.3 Novawood Thermally Modified Wood Boards Major Product Offerings
13.4.4 Novawood Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.4.5 Key News
13.5 Oy SWM-Wood Ltd
13.5.1 Oy SWM-Wood Ltd Company Overview
13.5.2 Oy SWM-Wood Ltd Business Overview
13.5.3 Oy SWM-Wood Ltd Thermally Modified Wood Boards Major Product Offerings
13.5.4 Oy SWM-Wood Ltd Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.5.5 Key News
13.6 Thermoarena OÜ
13.6.1 Thermoarena OÜ Company Overview
13.6.2 Thermoarena OÜ Business Overview
13.6.3 Thermoarena OÜ Thermally Modified Wood Boards Major Product Offerings
13.6.4 Thermoarena OÜ Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.6.5 Key News
13.7 AHC Hardwood Group
13.7.1 AHC Hardwood Group Company Overview
13.7.2 AHC Hardwood Group Business Overview
13.7.3 AHC Hardwood Group Thermally Modified Wood Boards Major Product Offerings
13.7.4 AHC Hardwood Group Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.7.5 Key News
13.8 Cambia by NFP
13.8.1 Cambia by NFP Company Overview
13.8.2 Cambia by NFP Business Overview
13.8.3 Cambia by NFP Thermally Modified Wood Boards Major Product Offerings
13.8.4 Cambia by NFP Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.8.5 Key News
13.9 Timura Holzmanufaktur GmbH
13.9.1 Timura Holzmanufaktur GmbH Company Overview
13.9.2 Timura Holzmanufaktur GmbH Business Overview
13.9.3 Timura Holzmanufaktur GmbH Thermally Modified Wood Boards Major Product Offerings
13.9.4 Timura Holzmanufaktur GmbH Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.9.5 Key News
13.10 Westwood Heat Treated Lumber Corporation
13.10.1 Westwood Heat Treated Lumber Corporation Company Overview
13.10.2 Westwood Heat Treated Lumber Corporation Business Overview
13.10.3 Westwood Heat Treated Lumber Corporation Thermally Modified Wood Boards Major Product Offerings
13.10.4 Westwood Heat Treated Lumber Corporation Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.10.5 Key News
13.11 Bingaman and Son Lumber, Inc.
13.11.1 Bingaman and Son Lumber, Inc. Company Overview
13.11.2 Bingaman and Son Lumber, Inc. Business Overview
13.11.3 Bingaman and Son Lumber, Inc. Thermally Modified Wood Boards Major Product Offerings
13.11.4 Bingaman and Son Lumber, Inc. Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.11.5 Key News
13.12 Kärävä Oy
13.12.1 Kärävä Oy Company Overview
13.12.2 Kärävä Oy Business Overview
13.12.3 Kärävä Oy Thermally Modified Wood Boards Major Product Offerings
13.12.4 Kärävä Oy Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.12.5 Key News
13.13 Arbor Wood
13.13.1 Arbor Wood Company Overview
13.13.2 Arbor Wood Business Overview
13.13.3 Arbor Wood Thermally Modified Wood Boards Major Product Offerings
13.13.4 Arbor Wood Thermally Modified Wood Boards Sales and Revenue fromThermally Modified Wood Boards (2020-2025)
13.13.5 Key News
14 Key Market Trends, Opportunity, Drivers and Restraints
14.1 Key Takeway
14.2 Market Opportunities & Trends
14.3 Market Drivers
14.4 Market Restraints
14.5 Market Major Factor Assessment
14.6 Porter's Five Forces Analysis of Thermally Modified Wood Boards Market
14.7 PEST Analysis of Thermally Modified Wood Boards Market
15 Analysis of the Thermally Modified Wood Boards Industry Chain
15.1 Overview of the Industry Chain
15.2 Upstream Segment Analysis
15.3 Midstream Segment Analysis
15.3.1 Manufacturing, Processing or Conversion Process Analysis
15.3.2 Key Technology Analysis
15.4 Downstream Segment Analysis
15.4.1 Downstream Customer List and Contact Details
15.4.2 Customer Concerns or Preference Analysis
16 Conclusion
17 Appendix
17.1 Methodology
17.2 Research Process and Data Source
17.3 Disclaimer
17.4 Note
17.5 Examples of Clients
17.6 Disclaimer
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