The global glue laminated timber market size was US$ 6.2 billion in 2021. The global glue laminated timber market is forecast to grow to US$ 10.27 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
Glue-laminated timber is produced using a wide range of small trees. The eco-friendly properties of the product are forecast to surge the growth of the glue-laminated timber market.
The increasing demand for glue-laminated timber is forecast to boost for household purposes. Glue-laminated timber finds its wide applications in the development of floor beams, window headers, trusses, and roof beams. As a result, it will boost the growth of the global glue laminated timber market.
The growing need for laminated building materials is predicted to increase in developing countries. As a result, it will contribute to the growth of the glue-laminated timber market. Moreover, the expansion of the glue-laminated timber market is likely to be driven by various benefits associated with glue-laminated timber, such as fire resistance and durability.
The low cost of the raw material is forecast to boost demand for glue-laminated timber worldwide.
The growing number of construction activities and increasing urbanization will surge the growth of the global glue-laminated timber industry during the study period.
COVID-19 Impact Analysis
The COVID-19 outbreak has negatively impacted the overall glue-laminated timber business. The government and other local authorities have ordered a complete lockdown in certain afflicted areas. As a result, the demand for floor beams, window and door header, trusses and supporting columns, and roof beams declined steeply. Due to labor shortages, construction activities declined drastically. As a result, it restricted the growth of the global glue laminated timber market.
Regional Analysis
Asia-Pacific is forecast to hold the largest share in the global glue laminated timber market. The growth of the market is attributed to the rising number of construction activities. In addition, rising urbanization and increasing disposable income will benefit the regional glue-laminated timber market. In addition, growing lifestyle changes and rising demand for aesthetic changes will contribute to the growth of the glue-laminated timber market.
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Competitors in the Market
- Boise Cascade Company
- Calvert Co., Inc.
- Canfor Corporation
- Binderholz GmbH
- Structural Wood Systems
- Mayr-Melnhof Holz Group
- Pfeifer Holz GmbH
- Eugen Decker Holzindustrie KG
- Meiken Lamwood Corp.
- Other Prominent Players
Market Segmentation
The global glue laminated timber market segmentation focuses on End-Use, Application, and Region.
Based on the end-use, the glue-laminated timber market has been segmented into ––
- Residential
- Non-Residential
Based on the application, the glue-laminated timber market has been segmented into–
- Floor Beams
- Window and Door Header
- Trusses and Supporting Columns
- Roof Beams
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Based on the region, the glue-laminated timber market has been segmented into–
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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