Translucent Wood Market Huge Growth Opportunity by Trend, Key Players and Forecast 2030

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Translucent Wood: Introduction

• Translucent wood is a type of construction material that is produced by treating and compressing wood strips. Optical transparent wood is a type of wood veneer, wherein the lignin, a component of cell walls, is removed chemically. It is an environment-friendly material compared to its alternatives such as plastic and glass.
• During the production of translucent wood, lignin is replaced by polymers to make it transparent. Translucent wood is far lighter compared to lumber wood. However, both these material possess similar strength. Wood is by far the most used bio-base material in buildings.
• Translucent wood is used in a wide range of applications as a construction material in residential and commercial buildings. Translucent wood is a preferred construction material by builders or architects owing to its excellent set of properties such as high optical transmittance, low thermal conductivity, outstanding toughness, and lower density compared to glass.

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Production Process of Translucent Wood

• At first, wood blocks or strips are added into boiling bath of water, sodium hydroxide, and other chemicals for almost two hours. This causes lignin, a polymer which gives wood its color, to leach out of the cell walls, causing wood to turn white.
• After this, hydrogen peroxide is used as an oxidizing agent to complete the leaching of lignin.
• Wood is then soaked with an epoxy to strengthen the wood and make it clearer. When epoxy is applied on wood, the end product looks akin to a piece of plastic. However, the underlying structure and strength of wood remains the same.

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Key Drivers of Translucent Wood Market

• The global population is estimated to increase from 6.4 billion in 2005 to 8.2 billion by 2030. Governments of countries such as Bahrain, India, Kingdom of Saudi Arabia, and the UAE are planning to build homes to cater to the housing needs of the emerging population. Rise in global population and increase in disposable income are key factors that are driving the demand for residential homes and various other construction projects. This is expected to boost the demand for translucent wood in the next few years.
• The global GDP increased from about US$16 Trn in 1970 to US$47 Trn in 2005. It is estimated to increase to US$100 Trn by 2030.  High investments have been made in the building & construction industry in the last few years across the globe. Improvement in economic conditions in developing economies such as Vietnam, Indonesia, Thailand, and India, especially in the construction sector, is anticipated to boost the global translucent wood market in the near future.
• According to a report published by the Food and Agriculture Organization of the United Nations (FAO), the sale of wood-related products such as translucent wood increased by 11% in 2018 compared to that in 2017
• Translucent wood can reduce energy cost by lowering the usage of artificial lights inside homes and other buildings. Nowadays, urban architecture depends heavily on the use of glass and steel. Biodegradable materials such as translucent wood can reduce heating costs, thereby lowering fuel consumption.

Key Restraints of Translucent Wood Market

• Translucent wood is more vulnerable to water damage. This can lead to external damage of translucent wood. Regular sealing of wood sealant is required to safeguard the wood material. This is one of the factors that can negatively impact the translucent wood market in the near future.
• Countries such as China, the U.S., and Japan are facing a temporary slowdown due to lockdown caused by the COVID-19 pandemic. Similar to the case with the SARS outbreak, the economy is estimated to return to the normal levels in the near future.

Asia Pacific Emerging as Key Region of Global Translucent Wood Market

• China, the U.S., and India alone account for 57% of construction activities across the globe, as per a report published by Global Construction Perspectives and Oxford Economics. Governments of China and India are striving to meet the housing needs of their population. The Government of India plans to invest US$ 3.304 Bn in the near future to revive stalled housing projects. Furthermore, the Ministry of Housing and Urban Affairs of India, in its annual budget, allocated US$ 6.618 Bn, a nearly 18.39% increase from the revised estimate of US$ 5.590 Bn for 2019–2020.