Cross-laminated Timber, Laminated Veneer Lumber and Glue Laminated Timber Market
Mass-Engineered Timber Industry | Forecast 2030
Mass-Engineered Timber Industry Data Book – Cross-laminated Timber, Laminated Veneer Lumber and Glue Laminated Timber Market
The economic value generated by the mass-engineered timber industry was estimated at approximately USD 9.49 billion in 2022. This economic output is an amalgamation of businesses that are involved in the manufacturing of mass-engineered timber materials, distribution & supply, and application of mass-engineered timber. The positive growth outlook exhibited by the construction industry, along with the growing penetration of advanced construction sustainable materials is expected to bolster the mass-engineered timber materials industry as they are key to green building.
Europe dominated the market in 2022 with a revenue share of over 40%. Europe is expected to remain the largest regional segment and witness notable growth over the forecast period owing to rising awareness about the use of sustainable building materials backed by the expected implementation of the stringent emission norms in the future. In addition, Europe also exhibits the largest production base for these materials due presence of several major manufacturers.
Access the Global Mass-Engineered Timber Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Mass-Engineered Timber Industry Data Book Coverage Snapshot
Markets Covered
Cross Laminated Timber Market Growth & Trends
The global cross laminated timber market size is expected to reach USD 3.56 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.9% from 2023 to 2030.
This growth can be attributed to the growing adoption of cross laminated timber, as solid wood construction of cross laminated timber has a high strength-to-weight ratio, making it superior for usage in structural flooring systems as it can withstand both, compressive and tensile stress and has an extremely high static load-carrying capability.
Cross laminated timber market has been continuously witnessing expansion across the world. It is characterized by partnerships among major players to ensure their profitability and competitiveness in the market. For instance, in 2020, Stora Enso Oyj announced an investment worth USD 96.1 million in a new production line for manufacturing cross laminated timber at its sawmill in Ždírec, the Czech Republic. The investment is expected to enhance the market positioning of the company as a global provider of cross laminated timber panels and wooden products.
Order your copy of the Free Sample of “Mass-Engineered Timber Industry Data Book – Cross-laminated Timber, Laminated Veneer Lumber and Glue Laminated Timber Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research
Glue Laminated Timber Market Growth and Trends
The global glue laminated timber market size is anticipated to reach USD 8.0 billion by 2025, according to a new report by Grand View Research, Inc. The global sustainability concerns along with the persistent energy crisis are among the major factors that are expected to propel market growth over the years to come. The transition from concrete- and steel-based construction to wood building materials is set to actuate demand from the market over the next eight years.
Significant attributes such as high insulation, promising thermal performance, as well as high chemical resistance, are projected to influence the market positively. In addition, the advantages such as low cost and ease of construction offered by glulam relative to other building materials have made it affordable for all consumer segments.
The demand for wood-based residential buildings, including single-family homes and multifamily apartments, is increasing due to their aesthetic appeal and design flexibility. Various benefits, such as improved fire resistance and durability, of the product are expected to augment market growth over the forecast period.
Competitive Insights
The mass-engineered timber market is less competitive owing to the presence of a limited number of manufacturers consolidated majorly in Europe and North America, serving major geographies across the globe including Asia Pacific. These manufacturers compete based on product quality such as wood thermal resistance, surface finish, and prices to increase their applications in commercial, industrial, and residential buildings. The market players focus on gaining various construction projects in institutional and industrial construction, replacing concrete as a primary building material to gain a competitive advantage.
Prominent manufacturers have been adopting various strategies including investments, agreements, partnerships, contracts, production capacity expansions, joint ventures, and collaborations, to gain greater market presence and to cater to the changing requirements of application industries. Stora Enso Oyj, Binderholz GmbH, KLH Massivholz GmbH, Mayr-Melnhof Holz Holding AG, and Eugen Decker & WebMan among other prominent market players focus on the development of multi-story wooden buildings. These companies have been filing new patents and adopting performance-enhancing technologies, which are also followed by emerging players in the market.
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