PUBLISHER: The Business Research Company | PRODUCT CODE: 1465792
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465792
Glue laminated timber is a form of structurally engineered wood product that consists of layers of solid wood boards joined together using high-strength adhesive. This construction material is designed to span considerable distances and support heavy loads, all while maintaining a lightweight composition and cost-effectiveness. The primary objective of utilizing glue laminated timber is to manufacture substantial, resilient, and versatile structural elements suitable for various construction projects.
Glue laminated timber comes in several types, including premium grade, framing grade, industrial grade, and architectural grade. Premium Grade represents the highest quality level of glue laminated timber, known for its outstanding strength, consistency, and aesthetic appeal. It is frequently chosen for prestigious architectural projects and is available in various shapes, including straight, curved, and custom configurations. Premium Grade glue laminated timber finds applications in diverse areas such as floor and roof beams, household framing, replacements, window and door headers, supporting columns, ridge beams, and curved beams. Its applications span various end-uses, including construction, architecture, and building projects.
The glue laminated timber market research report is one of a series of new reports from The Business Research Company that provides glue laminated timber market statistics, including glue laminated timber industry global market size, regional shares, competitors with a glue laminated timber market share, detailed glue laminated timber market segments, market trends and opportunities, and any further data you may need to thrive in the glue laminated timber industry. This glue laminated timber market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The glue laminated timber market size has grown steadily in recent years. It will grow from $3.48 billion in 2023 to $3.65 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The expansion observed in the historical period is attributable to the increased utilization of glue-laminated timber across various industries. This growth is driven by the rapid expansion of the construction industry and a heightened demand within the building and construction sector, particularly in the residential segment.
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 anticipated growth in the forecast period is ascribed to the increasing demand for glue-laminated timber products, accelerated urbanization, and unprecedented expansion in the construction sector. Contributing factors include rising government investments in glue-laminated materials and the global stimulation of construction activities driven by growing urban populations. Key trends in this period encompass ongoing advancements in architecture and interior designs, a focus on sustainable construction practices, architectural design flexibility, enhanced energy efficiency, thermal performance, and the pursuit of green building certifications.
The glue laminated timber market is poised for substantial growth, driven by the robust expansion of the construction industry. This sector, encompassing the planning, creation, renovation, and maintenance of physical structures, is experiencing an upswing due to factors such as increased infrastructure investments, heightened housing demands, and a growing emphasis on green infrastructure. Glue laminated timber emerges as a versatile and sustainable structural material, offering strength, flexibility, and aesthetic appeal in contemporary construction projects. Notably, a report from the Office for National Statistics in February 2022 revealed a record 12.7% rise in the UK construction sector in 2021 compared to 2020. This growth, highlighted by a 2.0% increase in construction output volume in December 2021, fueled entirely by a 3.5% growth in new work, underscores the pivotal role of the construction industry in propelling the glue laminated timber market forward.
Leading companies in the glue laminated timber market are actively pursuing innovation to gain a competitive advantage. One noteworthy example is the development of NeXTimber by major players, such as Timber Link International Limited. Launched in December 2021, NeXTimber encompasses a range of mass timber building solutions, including cross-laminated timber (CLT) panels and glue-laminated timber (GLT) members. This engineered wood product line, manufactured using locally sourced Timberlink timber from certified pine plantations, offers both biophilic and environmental benefits. The strength provided by NeXTimber products caters to the requirements of taller and more complex structures while retaining the advantages associated with traditional timber.
In January 2022, Binderholz Group, an Australian timber company, completed the acquisition of BSW Timber Ltd. for an undisclosed amount. This strategic move is aimed at strengthening Binderholz's foothold in the expanding British market, characterized by significant demand for sawn timber, solid wood, timber construction, and do-it-yourself (DIY) products. BSW Timber Ltd., based in Scotland, is a key player in the manufacturing of timber products, including glue-laminated timber (glulam). The acquisition aligns with Binderholz Group's commitment to capitalizing on growth opportunities and enhancing its presence in key markets.
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.
Europe was the largest region in the glue laminated timber market in 2023. 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.
The countries covered in the glue laminated timber market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The glue laminated timber market consists of sales of Douglas-fir, spruce-pine-fir (SPF), and western hemlock, and other wood species. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Glue Laminated Timber Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on glue laminated timber market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for glue laminated timber ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The glue laminated timber market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.