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2025-2034 Glue Laminated Timber Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Glue Laminated Timber
What Will the Glue Laminated Timber Industry Market Size Be by 2025?
In the past few years, there has been a steady growth in the glue laminated timber market size. Predictions show an increase from $3.65 billion in 2024 to $3.77 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.3%. Factors contributing to this progression during the historical period include the expanding usage of glue-laminated timber across various sectors, a swift advancement in the construction industry, and growing demands from the building and construction fields as well as the residential sector.
What's the Long-Term Growth Forecast for the Glue Laminated Timber Market Size Through 2029?
The market size of glue laminated timber is anticipated to experience consistent growth in the upcoming years, predicted to increase to $4.28 billion in 2029 at a compound annual growth rate (CAGR) of 3.2%. The factors contributing to this growth in the predicted period include increased demand for glue-laminated timber, accelerated urban development, extraordinary expansion in the construction sector, and increased government funding towards glue-laminated projects, as well as the growth in urban populations globally, driving construction activities. The forecast period is expected to witness key trends such as ongoing advancements in architectural and interior design, sustainable construction practices, flexibility in architectural design, enhanced energy efficiency and thermal performance, and the rise in green building certifications.
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What Are the Key Growth Drivers Fueling the Glue Laminated Timber Market Expansion?
The surging expansion of the construction sector is anticipated to drive the growth of the glue laminated timber market in the future. The construction sector encompasses the design, creation, renovation, and upkeep of physical structures and infrastructure. Various factors, such as increased infrastructure investments, heightened housing requirements, and the growing demand for eco-friendly infrastructure are fueling the rise of the construction industry. Glue laminated timber, a strong, flexible, and aesthetically pleasing structural material provides sustainability in modern construction projects. For example, the United States Census Bureau, a primary U.S. Federal Statistical System agency, reported in February 2024 that construction activity's capital expenditure rose from $45 billion in 2021 to $53.7 billion in 2022. This represents a 19.4% increase from 2021 to 2022. Thus, the accelerated expansion of the construction sector is fuelling the growth of the glue laminated timber market.
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What Are the Key Trends Driving Glue Laminated Timber Market Growth?
Leading firms functioning in the glue laminated timber industry are adopting innovative tactics such as the creation of timber framed solar carports in order to achieve a superior stand in the market. These are parking infrastructures built from wood which bear solar panels on their top - a blend of sustainable materials and renewable power resources. Innoventum AB, a renewable energy corporation from Sweden, introduced these timber-framed solar carports in September 2024. These carports, primarily made from glue-laminated timber, or glulam, present a smaller carbon footprint as compared to conventional steel constructions. They are customizable with different types of wood such as larch, Douglas fir, and oak, all of which are sourced in a sustainable manner. The timber solar carports are adaptable to different spaces and requirements, either available as self-assembly kits or fully fitted solutions, offering flexible designs and dimensions according to divergent parking arrangements.
How Is the Glue Laminated Timber Market Segmented?
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
Subsegments:
1) By Premium Grade: High-Performance Laminated Timber, High-Strength Laminated Timber, Aesthetic-Grade Laminated Timber
2) By Framing Grade: Structural Framing Timber, Load-Bearing Laminated Timber
3) By Industrial Grade: Heavy-Duty Laminated Timber, Industrial-Strength Laminated Timber
4) By Architectural Grade: Decorative Laminated Timber, Custom Design Laminated Timber, Exposed Laminated Timber
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Which Companies Are Leading the Charge in Glue Laminated Timber Market Innovation?
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.
Which Regions Are Leading the Global Glue Laminated Timber Market in Revenue?
Europe was the largest region in the glue laminated timber market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glue laminated timber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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