What Has Been the Growth of the Glue Laminated Timber Market So Far?
The glue laminated timber market has seen considerable growth due to a variety of factors.
• In recent times, the glue laminated timber industry has experienced a stable expansion. The market size, which stands at $3.65 billion in 2024, is set to escalate to $3.82 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 4.6%.
This significant elevation during the historic period is credited to the widespread utilization of glue-laminated timber across various sectors, fast-paced growth within the construction industry, and a surge in demand from the building and construction sector, as well as the residential sector.
How Will the Glue Laminated Timber Market?
The glue laminated timber market is expected to maintain its strong growth trajectory in upcoming years.
• There is a prediction for a steady increase in the size of the glue laminated timber market in the upcoming years, with an estimated value of $4.38 billion in 2029 and a compound annual growth rate (CAGR) of 3.5%.
The upsurgence during the forecast period can be linked to the increasing demand for glue-laminated timber products, rapid city development, a significant expansion in the construction industry, and increased government investment in glue-laminated timber. Furthermore, the surging urban population globally encourages more construction activities. The forecast period is also expected to witness persistent advancements in architecture and interior styling, sustainable construction practices, versatile architectural designs, enhanced energy efficiency and thermal performance, and a rise in green building certifications.
Which Factors Are Boosting Growth In The Glue Laminated Timber Market?
The glue laminated timber market's expansion is anticipated to be fuelled by the burgeoning construction industry. Comprising of planning, building, remodeling, and upkeep of physical structures and infrastructure, the construction sector is experiencing a surge. This surge is attributed to several factors, including increased infrastructure investments, escalating housing demands, and a growing requirement for environmentally friendly infrastructure. Glue laminated timber is a multi-purpose and eco-friendly building material that provides strength, flexibility, and an elegant aesthetic to modern construction projects. For example, data from the United States Census Bureau, a principal agency of the U.S. Federal Statistical System, revealed in February 2024 that construction activities' capital expenditure increased from $45 billion in 2021 to $53.7 billion in 2022, a rise of 19.4% from 2021 to 2022. Hence, the fast-paced growth of the construction industry is propelling the glue laminated timber market.
What Key Areas Define The Segmentation Of The Global Glue Laminated Timber Market?
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 Emerging Market Trends Are Altering The Glue Laminated Timber Industry?
In a bid to gain a competitive edge in the glue laminated timber market, leading companies are focused on the creation of cutting-edge products like timber-framed solar carports. These are essentially parking structures fabricated from wood, supporting solar panels on top, thereby fusing the production of renewable energy with sustainable materials. Innoventum AB, a renewable energy firm based in Sweden, unveiled their timber-framed solar carports in September 2024. Predominantly manufactured from glue-laminated timber (glulam), these carports possess a smaller carbon footprint as opposed to traditional steel structures. Wood variants such as larch, Douglas fir, and oak, all obtained sustainably, can be used for their construction. The design of timber solar carports can be custom-adapted to various requirements and spaces. These can be either procured as kits or as completely installed structures, offering flexibility in terms of lengths and arrangements to suit different parking setups.
Who Are the Key Players In The Glue Laminated Timber Market?
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.
What Is The Most Dominant Region In The Glue Laminated Timber Market?
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.
