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Glue Laminated Timber Global Market Report 2024 - By Demand, Size, Share, Trends, Drivers, Outlook By 2033
Glue Laminated Timber Market
The glue laminated timber market size is expected to see steady growth in the next few years. It will grow to $4.24 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to demand for glue-laminated timber products, rapid urbanization, rapid urbanization unprecedented growth in the construction sector, rising government investments in glue-laminated, growing urban populations worldwide stimulate construction activities. Major trends in the forecast period include continuous advancements in architecture and interior designs, sustainable construction, architectural design flexibility, energy efficiency and thermal performance, green building certifications.
Market Overview -
Glue laminated timber refers a type of structurally engineered wood product made up of layers of solid wood boards bonded together with high-strength adhesive. It has the ability to span long distances and carry heavy loads while remaining lightweight and inexpensive. The purpose of glue laminated timber is to produce large, sturdy, and adaptable structural elements for use in construction projects.
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Construction Industry Boom Fuels Surge In Glue Laminated Timber Market
The rapid growth of the construction industry is expected to propel the growth of the glue laminated timber market going forward. The construction industry involves planning, creating, renovating, and maintaining physical structures and infrastructure. The construction industry is on the rise due to several factors, including growing infrastructure investments, rising housing demands, and the rising need for green infrastructure. Glue laminated timber is a versatile and sustainable structural material that offers strength, flexibility, and aesthetic appeal in contemporary construction projects. For instance, in February 2022, according to a report published by the Office for National Statistics, a UK-based administrative office, the construction sector saw a record rise of 12.7% in 2021 compared to 2020. The construction output volume increased by 2.0% in December 2021, driven entirely by a 3.5% growth in new work. Therefore, the rapid growth of the construction industry is driving the growth of the glue laminated timber market.
Competitive Landscape -
Major companies operating in the glue laminated timber market are Stora Enso Oyj, Boise Cascade Company, Canfor Corporation, Binderholz GmbH, Pfeifer Holding GmbH, Western Forest Products Inc., Holzindustrie Schweighofer GmbH, Forest Timber Engineering Ltd., Mayr-Melnhof Holz Holding AG, Setra Group AB, W. u. J. Derix GmbH & Co. KG, Eugen Decker GmbH & Co. KG, Eacom Timber Corporation, Structurlam Mass Timber Corporation, B&K Structures Ltd., D.R. Johnson Wood Innovations LLC, Structural Wood Systems Inc., Wiehag GmbH, HASSLACHER Holding GmbH, Schilliger Holz AG, Nordic Engineered Wood, KLH Massivholz GmbH, Glulam Ltd., Calvert Company Inc., Rubner Holzbau GmbH, EcoCurves BV, Meiken Lamwood Corp.
Innovative Products Shaping The Glue Laminated Timber Market
Major companies operating in the glue laminated timber market are developing innovative products, such as NeXTimberto, to gain a competitive edge in the market. NeXTimber refers to a range of mass timber building solutions, including cross-laminated timber (CLT) panels and glue-laminated timber (GLT) members. For instance, in December 2021, Timber Link International Limited, a UK-based timber company, launched the NeXTimber brand of engineered wood products and mass timber building solutions. The NeXTimber range will include CLT (cross-laminated timber) and GLT (glue-laminated timber) and will be manufactured on Timberlink's Tarpeena site from Timberlink timber, sourced from local certified pine plantations, providing both biophilic and environmental benefits. NeXTimber products offer the strength required for taller and more complex structures while maintaining the advantages of traditional timber.
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Key Segments -
The glue laminated timber market covered in this report is segmented -
1) By Type: Premium Grade, Framing Grade, Industrial Grade, Architectural Grade
2) By Shape: Straight, Curved, Custom
3) By Application: Floor And Roof Beams, Replacement, Household Framing, Window And Door Headers, Supporting Columns, Ridge And Curved Beams
4) By End-Use: Building And Construction, Architecture
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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