Unveiling the Growing Global Mass Timber Construction Market 2023: Building the Future

In a recent report released by Allied Market Research, titled "Mass Timber Construction Market," the market has demonstrated substantial growth, reaching $857.10 million in 2021 and projected to achieve $1.5 billion by 2031, with a commendable CAGR of 6% from 2022 to 2031.

Download PDF Sample https://www.alliedmarketresearch.com/request-sample/16995

Mass timber, also known as engineered wood or manufactured boards, has become a pivotal player in construction, utilizing glued or nailed parallel or perpendicular timber panels to provide strength and stability. The cost-effectiveness and eco-friendliness of mass timber make it a preferred choice over traditional wood and cement products emitting harmful byproducts during manufacturing. Government subsidies promoting green building materials further contribute to the adoption of mass timber construction.

As cities grapple with effective land use and undergo urbanization, the demand for new, contemporary structures rises, necessitating the demolition of outdated or unsafe buildings. Moreover, the surge in renovation and remodeling projects, particularly in developed nations like the U.S., Germany, and the UK, fuels the growth of the mass timber construction market globally. For example, Singapore authorized 5,400 home restoration projects in June 2020, showcasing the trend of modernizing older homes with engineered wood.

Buy This Report https://www.alliedmarketresearch.com/checkout-final/5326d34eebea38a7323cfee81ece8a88



The expansion of the residential construction industry globally serves as a significant driver for mass timber. Residential projects demand mass plywood panels for superior finishing, and the efficient resistivity of mass timber panels towards water, fire, and earthquakes contributes to their popularity. With lower maintenance requirements and environmental friendliness due to the use of eco-friendly lumber, mass timber construction aligns with the global push for sustainable building practices.

Governments investing in residential sectors, aiming to accommodate population growth and improve living standards, further stimulate the mass timber industry. In September 2021, Germany announced plans to construct 285,900 residential houses, the highest in 16 years, contributing to the economic recovery of the country and driving the mass timber industry's anticipated growth.

The environmental advantages of engineered wood, including stability, minimal emissions, recyclability, and cost-effectiveness, position it favorably against materials like steel and concrete, which are responsible for significant CO2 emissions. The rise in sustainable building adoption, especially in countries like Germany, France, and the U.S., emphasizes the need for green building materials such as engineered wood. Approximately 60% of new construction projects align with green building norms, further propelling the mass timber construction market.

Inquire Before Buying https://www.alliedmarketresearch.com/purchase-enquiry/16995



While the mass timber construction market witnesses substantial growth, challenges persist. Cheap and readily available plastic, rubber, and synthetic materials pose a threat to mass timber adoption. Plastic laminates also hinder mass timber sales. However, the market is offsetting these challenges with a focus on aesthetic enhancements and a surge in renovation and remodeling activities, particularly in developed nations in North America and Europe.

Key Findings of The Study:

The 1-8 stories construction type segment led in revenue generation in 2021.

The cross-laminated timber material segment generated the highest revenue in 2021.

The residential application segment dominated the market in 2021.

Europe is anticipated to remain the dominant region in the global mass timber construction market throughout the study period.

Contact Us:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Delaware. 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.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.