Paulownia (Paulownia tomentosa) is used in applications where a lightweight yet strong wood is needed. It is perfect for shutters due to its resistance to moisture, straight grain, light weight, durability, high silica content, decay resistance and because it takes a wide variety of glues, stains, and finishes well.
Paulownia is a fast growing plantation timber which is not an endangered or threatened species.
It's among the lightest woods available, but not as styrofoam-soft as Balsa or as likely to dent easily as Western Red Cedar. It is also one of the most stable woods with regard to humidity and has very low movement in service.
Paulownia is prized in Japan and used for all sorts of things. More recently Paulownia has become reknown as the best wood for shaped timber surfboards because of its highly unusual property of not absorbing and therefore not swelling in water.