Transparent Wood Market - Forecast(2023 - 2028)

Report Code: CMR 1501 Report Format: PDF + Excel

Transparent Wood Market Overview

The Transparent Wood Market size is forecast to reach US$1.5 billion by 2027 after growing at a CAGR of 10.2% during 2022-2027. Transparent Wood is a different type of wood that offers numerous benefits over alternatives such as glass. The fabrication of transparent wood (TPW) has created interest in the recent past, owing to its favorable physical, mechanical and thermal resistance properties. The transparent wood fabrication process includes the removal of a brown-colored chemical called lignin. Later, the wood is kept in a vacuum and then smothered with clear epoxy resins such as a synthetic polymer called polyvinyl alcohol (PVA), creating a virtually transparent product. As a result, transparent wood is ideal for several applications like roofing, panels, facade and solar cells widely used in various end-use industries, such as buildings construction and furniture to solar panels and electronics. These factors are expected to boost the growth of the Transparent Wood Market size over the projected timeframe. For instance, according to Statistics Canada, the total number of permits for residential and non-residential for January 2022 was 7,817,471; 10,314,435 for February 2022 and 12,475,549 for March 2022. Therefore, the growing construction activity would eventually drive the Transparent Wood Market size during the forecast period. However, the global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in demand for building construction, furniture and others, all across the world, which had a significant impact on the growth of the Transparent Wood Market.

Transparent Wood Market Report Coverage

The report: “Transparent Wood Market Report – Forecast (2022 - 2027)” by Industry ARC, covers an in-depth analysis of the following segments in the Transparent Wood industry.

By Type: Hard Wood and Soft Wood.
By Application: solar cells, Roofing, electrochromic devices, Facades, Panels and Others.
By End-Use Industry: Building Construction (Residential, Commercial, Infrastructure and Others), Furniture, Solar Energy, Electronics and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • The North American region dominates the Transparent Wood Market and is expected to register a CAGR of 8.5% during the forecast period (2022-2027). The increasing demand for transparent wood in construction materials among North American countries such as the U.S, Canada and Mexico is driving the Transparent Wood Market share.
  • The rapid increase in the development of high-rise structures can raise the demand for Transparent Wood, owing to its thermal resistance properties and benefits. These factors would drive the demand for the Transparent Wood Market during the forecast period.
  • Rising investments and inclining growth of solar energy will boost demand for solar cells and panels and eventually raise demand for the Transparent Wood Market during the forecast period

Figure: North America Transparent Wood Market Revenue, 2021-2027 (US$ Million)

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Transparent Wood Market Segment Analysis – By Type

The hardwood segment held a significant share in the Transparent Wood Market share in 2021 and is expected to grow at a CAGR of 10.8% during 2022-2027. Hardwood is extensively used in roofing, panels, facade and many more, owing to its high thermal and optical resistance properties. The thermal resistance of hard transparent wood is due to the alignment of its cellulose fibers, which were retained after removing lignin and adding epoxy resins. Hard transparent wood is widely used in construction materials because of its strong energy efficiency and operational savings potential. For instance, in February 2022, TH Group commenced the development of the Thai Binh food processing factory in the northern province of Thai Binh's Quynh Phu district in Vietnam. The overall cost of the project reached up to VND 620 billion (approx. US$27 million). Thus, the rise in commercial construction activity would eventually drive the hardwood segment of the Transparent Wood Market during the forecast period.

Transparent Wood Market Segment Analysis – By End-use Industry

The building construction industry held a significant share in the Transparent Wood Market share in 2021 and is estimated to grow at a CAGR of 8.9% during the forecast period 2022-2027. Transparent wood is one of the most innovative construction materials that hold the potential to lift the construction sector to a whole new level as it is not only environmentally friendly but also a great alternative to plastic & glass. Lignin is replaced with synthetic polymers to make the wood transparent. The growing consumption of transparent wood with an increase in construction activity will flourish the market. For instance, various construction projects are underway globally. Some of them are Al Maktoum International Airport (Dubai), Jubail II (Saudi Arabia), Dubailand (Dubai), Beijing Airport (China), Samsung Chip Factory (Austin, Texas) and Amazon HQ2 (Arlington/Crystal City, Virginia). With the increasing construction activities, it is estimated that the requirement for transparent wood in the building construction industry would rise in the upcoming years. This would boost the growth of the Transparent Wood Market. 

Transparent Wood Market Segment Analysis – By Geography

The North American region dominated the Transparent Wood Market share in the year 2021 and is expected to grow at a significant CAGR of 8.5% during the forecast period. Rising construction activities, abundant wood supply, the artistic appearance of wood and its environmentally sound qualities drive the wood demand in the U.S., Mexico and Canada. Renovation and modernization, especially in the residential & commercial segments, are bound to make transparent wood a popular choice. Also, owing to the climate condition of the region, transparent wood helps in giving five times more thermal resistance than glass, cutting energy costs substantially. According to the U.S., Associated of General Contractors, construction is a major contributor to the U.S. economy and creates nearly US$1.4 trillion worth of structures each year. The construction sector is one of the largest customers for manufacturing, mining and a variety of services. With the rise in the construction activity in the region, the demand for Transparent Wood would increase eventually in the region during the forecast period.

Transparent Wood Market Drivers

The Increase in Commercial Places with the Rise in Construction is Boosting the Demand for Furniture:

Transparent Wood is used in making a wide range of wooden furniture such as chairs, table tops, interior& exterior decor and many more, such as a rod or round bar, mullion and so on. Owing to the flexibility of transparent wood, it helps in creating new design possibilities in interior design. The rise in construction of commercial places like airports, hotels, malls, institutions and others would drive the Transparent Wood Market. For instance, China is the world’s largest construction market and is forecast to grow at an annual average rate of 8.6% between 2022 and 2030, according to Fitch Solutions Infrastructure Report. Moreover, China’s 14th Five-year plan includes greenfield construction, relocation, renovation and expansion of 140 airport projects. Thus, the rise in the growth of commercial construction would drive the demand for the Transparent Wood Market during the forecast period.

The Growing Emergence of Solar Energy Globally:

In the solar industry, Transparent Wood is utilized for making solar cells, especially for large surfaces. The rise in the investment in the production of solar energy would eventually boost the demand for the Transparent Wood Market. For instance, in July 2022, Apollo and Summit Ridge Energy, LLC announced that Apollo Funds affiliates have agreed to make a US$175 million strategic investment in Summit Ridge, a leading owner-operator of community solar assets to expand the solar footprints globally. Moreover, National Mining Development Corporation is looking to set up solar power plants in the southern state of Telangana (India). With the massive investment in solar energy, the demand for solar cells would increase and eventually drive the Transparent Wood Market during the forecast period.

Transparent Wood Market Challenge:

 The Fabrication of Transparent Wood for the Elimination of Lignin Must be Taken into Consideration

Lignin is a component that appears in the woody tissues of plants and has a very important function. The function of lignin in wood is to hold the cellulose fiber together and perform essential functions for their life. The fabrication of transparent wood involves various processes which include removing brown a colored chemical called lignin. Later, the wood is kept in a vacuum and then smothered with clear epoxy resin. The removal of lignin is crucial as it can affect the transparency of wood. Therefore, the fabrication of the transparent wood must be done with efficiency to obtain Transparent Wood.

Global Transparent Wood Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies players adopt in the Transparent Wood Market. The top 5 companies in the Transparent Wood Market include:

  1. Cellutech AB
  2. Nomaco Inc
  3. InventWood
  4. Woodoo
  5. Forest Products Laboratory (FPL)

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1. Transparent Wood Market - Market Overview
    1.1 Definitions and Scope 
2. Transparent Wood Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End-Use Industry
    2.4 Key Trends by Geography
3. Transparent Wood Market – Comparative analysis 
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Transparent Wood Market - Startup Companies Scenario Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Transparent Wood Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Transparent Wood Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Transparent Wood Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies 
8. Transparent Wood Market – by Type (Market Size - US$ Million/Billion)
    8.1 Hard Wood
    8.2 Soft Wood
9. Transparent Wood Market – by Application (Market Size - US$ Million/Billion)
    9.1 Solar cells
    9.2 Roofing
    9.3 Electrochromic devices
    9.4 Facades 
    9.5 Panels
    9.6 Others 
10. Transparent Wood Market – by End-use Industry (Market Size - US$ Million/Billion)
    10.1 Building Construction
        10.1.1 Residential
        10.1.2 Commercial
        10.1.3 Infrastructure
        10.1.4 Others
    10.2 Furniture
    10.3 Solar Energy
    10.4 Electronics
    10.5 Others 
11. Metal Biocides Market - by Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 The USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 The UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 The Netherlands
        11.2.6 Spain
        11.2.7 Belgium
        11.2.8 The Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zeeland
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 The Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 The Rest of South America
    11.5 The Rest of the World
        11.5.1 The Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 The UAE
            11.5.1.3 Israel
            11.5.1.4 The Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 The Rest of Africa
12. Transparent Wood Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Transparent Wood Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share by Key Geography - Major companies 
    13.3 Market Share at Country Level - Major companies
    13.4 Market Share by Key Application - Major companies
    13.5 Market Share by Key Product - Major companies
14. Transparent Wood Market – Key Company List by Country Premium Premium
15. Transparent Wood Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more    
* "Financials would be provided to private companies on best-efforts basis."    
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