Mass Timber Construction Market Expected to Reach $1.5 Billion by 2031: Building the Future Sustainably

According to a new report published by Allied Market Research, titled, "Mass Timber Construction Market," The mass timber construction market was valued at $857.10 million in 2021, and is estimated to reach $1.5 billion by 2031, growing at a CAGR of 6% from 2022 to 2031.

𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚: https://www.alliedmarketresearch.com/request-sample/16995

Mass timber is also called engineered wood or man-made wood or manufactured boards. Mass timber construction uses mass timber panels glued or nailed parallel or perpendicular in order to provide the required strength and stability to building construction. Mass timber construction uses blocks or panels of mass timber for the construction of the entire structure of the building.

Mass timber, being cost-effective and environment-friendly is preferred over other wood and cement products that emit harmful byproducts while manufacturing. In addition, subsidies provided by governments over green building material encourages builders and architects which contributes to the growth in adoption of mass timber construction.

There is a growth in demand for effective use of the current land of the city along with urbanization. Building new, contemporary structures requires demolishing outdated ones. In addition, a number of historic buildings and structures have reached the end of their useful lives and are unsafe to occupy. As a result, the owner or the government knocks down the structure to make room for a new one. Furthermore, it has become popular to update or modify older homes with modern technologies to increase their aesthetic value. Engineered wood is required for the floors, walls, and roofs in this home and building rehabilitation and remodel projects. For instance, 5,400 home restoration projects in Singapore received authorization to begin remodeling activities in June 2020. All these reconstruction, renovation, and remodeling activities are mostly conducted in developed countries such as the U.S., Germany, and the UK. These factors promotes the mass timber construction market growth around the world and is expected to offer new mass timber construction market opportunities.

𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮: https://www.alliedmarketresearch.com/purchase-enquiry/16995

In addition, another factor that drive the growth of mass timber is the global expansion of the residential construction industry. The growth in the number of residential construction projects boosts the demand for mass plywood panels as such panel provides better finishing to the surface. In addition, the mass timber panels used for construction are efficient in offering better resistivity towards water, fire, and earthquakes. Moreover, mass timber-constructed buildings require lesser maintenance and are more environment-friendly owing to the use of eco-friendly lumber and other engineered wood. These factors propel the mass timber construction industryforward. Governments of various countries invest in residential sectors due to the rise in population and for better living standards. For instance, in September 2021, an article published in The Indian Express stated that Germany will build 285,900 residential houses, the highest in 16 years. Expanding construction sector of Germany is thus one of the key drivers of the economic recovery of the country, and as a result, the mass timber industry is anticipated to grow in the forecast period.

Engineered wood is more environmentally friendly than building materials such as steel and concrete because it is stable for the environment and doesn't emit greenhouse gases. Wood waste is used to prepare some of the engineered wood. Additionally, this is recyclable, nontoxic, renewable, biodegradable, and non-toxic. Moreover, engineered wood has a significant advantage over cement, which is responsible for about 7% of the world's CO2 emissions. Because of the worldwide population boom, there is a rising need for homes. Growth in adoption of sustainable buildings in countries such as the Germany, France and U.S. has led to rise in requirement of green building materials such as engineered wood. It is expected that around 60% of the new construction projects are being planned according to the green building norms. Further, engineered wood is low cost compared to other cement and wood products. Thus, it also reduces the cost of the proejcts or cost of building construction, which encourages the architects and builders to opt for engineered wood over traditional building material. These factors currently drive the growth of the mass timber construction market in the world.

However, cheap, and easily available plastic, rubber, and synthetic materials over mass timber function as a restraint for the market during the mass the mass timber construction market forecast period. Similarly, plastic laminates also hamper sales of mass timber.

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗢𝘂𝘁𝗹𝗼𝗼𝗸

On the contrary, companies have keenly looked after products to enhance their aesthetics. Furthermore, rise in renovation and remodeling of old structures in developed nation of North America and Europe drives the market that is in turn helping in expansion of mass timber construction market size.

Mass timber construction, characterized by the use of engineered wood products like cross-laminated timber (CLT) and glulam, has gained significant attention in recent years as a sustainable and innovative approach to building. This emerging construction method has the potential to transform the construction industry by offering eco-friendly, cost-effective, and aesthetically pleasing alternatives to traditional building materials. In this blog post, we will dive into the mass timber construction market, conducting industry research to understand its growth, advantages, challenges, and future prospects.

𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩: https://www.alliedmarketresearch.com/checkout-final/5ec00437909512ee7588908a81ace8cb

The Growth of the Mass Timber Construction Market: The mass timber construction market has witnessed remarkable growth and adoption for several compelling reasons:

Sustainability Focus: Mass timber is a renewable and sustainable building material, making it an attractive choice for environmentally conscious construction projects.

Speed and Efficiency: Mass timber construction is often faster and more efficient than traditional methods, reducing construction timelines and costs.

Aesthetic Appeal: Mass timber structures offer a unique and visually appealing architectural style, creating spaces that are warm, inviting, and aesthetically pleasing.

Urbanization Trends: As urbanization continues, mass timber construction provides a solution for sustainable, mid-rise, and high-rise buildings in densely populated areas.

Advantages of Mass Timber Construction:

Sustainability: Mass timber is sourced from sustainably managed forests and has a significantly lower carbon footprint compared to concrete and steel.

Fire Resistance: Engineered timber products are designed to be fire-resistant, thanks to charring, which creates a protective layer in case of fire.

Strength and Durability: Mass timber components are incredibly strong and durable, capable of supporting substantial loads.

Reduced Construction Time: Prefabricated mass timber elements can be manufactured off-site, reducing on-site construction time.

Architectural Flexibility: Mass timber's versatility allows for diverse architectural designs, from traditional to contemporary.

Challenges and Considerations:

Regulatory Hurdles: Building codes and regulations often lag behind the development of mass timber construction techniques, posing challenges for adoption.

Material Sourcing: Ensuring a consistent and sustainable supply of timber can be a concern, as demand for mass timber grows.

Acoustic and Vibration Performance: Mass timber structures may require additional measures to meet acoustic and vibration control standards.

Education and Training: The construction industry needs skilled labor and professionals well-versed in mass timber construction methods.

Future Prospects: The mass timber construction market is poised for continued growth and innovation:

Tall Timber Buildings: The development of techniques for building tall timber structures, including skyscrapers, is an exciting frontier.

Hybrid Construction: Combining mass timber with other materials like concrete and steel can create hybrid structures with unique benefits.

Advancements in Technology: The integration of digital design tools and Building Information Modeling (BIM) will enhance the efficiency and precision of mass timber construction.

Increased Global Adoption: As sustainability becomes a global priority, mass timber construction will see increased adoption in countries around the world.

Conclusion: The mass timber construction market represents a significant shift in the way we build, offering sustainable, efficient, and aesthetically pleasing alternatives to traditional construction materials. As the industry continues to evolve, addressing regulatory challenges and expanding the knowledge base around mass timber construction will be crucial. With its numerous advantages and growing global interest, mass timber construction is well-positioned to shape the future of sustainable building practices and redefine the urban skyline.

1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.