Laminated Timber Market By Type (Cross-Laminated Timber (CLT), Glue Laminated Timber (Gulam), Laminated Veneer Lumbar (LVL), Others), By End-Use Industry (Residential, Non-Residential): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global laminated timber market was valued at $1.6 billion in 2021, and is projected to reach $3.5 billion by 2031, registering a CAGR of 8.1% from 2022 to 2031.
Laminated timber is a flexible building material with numerous applications. It is used in the building of roofs, commercial structures, columns, beams, and other structural elements, as well as for aesthetic purposes. It is also utilized in sporting facilities such as arenas and stadiums, where it provides a sturdy and long-lasting support system for the weight of the structure. Laminated timber, commonly known as glulam, is a form of engineered wood product constructed of glued-together layers of wood. Because of its strength, durability, and versatility, it is widely employed in the construction industry. It is frequently used in the construction of buildings for structural beams and columns, as well as pedestrian and vehicular bridges.
Laminated timber is a popular choice among designers and architects because it can be curved and shaped to form unique architectural features. Because it is made from renewable resources and has a lower carbon footprint than other construction materials, laminated timber is also a sustainable building material. It is resistant to fire because it burns on the surface while maintaining structural integrity, making it a safer alternative for building construction. Due to its strength, durability, and aesthetic appeal, laminated timber is a flexible building material that can be employed in a wide range of applications. It is utilized for roof constructions, commercial structures, columns, beams, and other structural parts, as well as aesthetic aspects. It is also utilized in sporting facilities such as arenas and stadiums to provide a sturdy and long-lasting support system for the structure's weight.
The laminated timber market is segmented into type, end-use industry, and region. On the basis of type, the market is categorized into cross-laminated timber (CLT), glue laminated timber (Gulam), laminated veneer lumbar (LVL), and others. On the basis of end-use industry, it is classified into residential and non-residential. Region-wise the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
By end-use industry, the non-residential segment dominated the global laminated timber market in 2021. Non-residential construction uses laminated timber to provide strength, sustainability, and aesthetic appeal. Due to its aesthetic appeal and durability, it is utilized in commercial constructions, educational structures, cultural and recreational structures, and bridges. It is a sustainable building material as it is manufactured from renewable materials and can be recycled at the end of its life. It absorbs carbon dioxide and requires less energy to produce than other construction materials, resulting in a lower carbon footprint. In addition to its strength, durability, and fire resistance, it can also be utilized to create warehouses, factories, and other industrial structures.
In addition, the report covers profiles of key industry participants such as Binderholz GmbH, DRJ Wood Innovations, Eugen Decker & WebMan, HASSLACHER Holding GmbH, KLH Massivholz GmbH, Mayr-Melnhof Holz Holding AG, NORDIC STRUCTURES, SmartLam, Stora Enso, and Structurlam Mass Timber Corporation. These players have adopted several strategies to propel the market of laminated market during the forecast period. In February 2022, HASSLACHER Holding GmbH acquired a 40 percent stake in Egoin Wood Group. This acquisition will enable the exchange of know-how and optimization ranging from forest management through the production of high-quality system solutions for modern timber construction to renewable energy solutions such as biomass and photovoltaic systems. The 40 percent stake in the Egoin Wood Group will help HASSLACHER Holding GmbH to strengthen its position in Southwest Europe.
COVID-19 Analysis on Laminated Timber Market
The COVID-19 pandemic has had a significant impact on the global laminated timber market, leading to significant disruptions in global supply chains and delays in production and delivery of laminated timber products. This has caused a decrease in demand for construction materials, including laminated timber, leading to a decrease in sales and revenue for laminated timber manufacturers.
According to Automatic Gain Control (AGC), an outbreak has forced 40% of construction enterprises to lay off workers. Price swings have resulted, with laminated timber prices climbing to $1,494 per thousand board feet in May 2021, a 250% rise from $427 per thousand square feet a year previously in 2020. However, cross-laminated timber (CLT) is gaining popularity in the building industry as it is constructed of layers of wood glued together in alternating directions, resulting in a robust and durable material that can be used for walls, floors, and roofing.
Additionally, non-residential construction spending has increased 5.8% through May 2019, while construction spending in the power and water supply sectors are raised 1.1% and 19.2% respectively during the period.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the laminate timber market analysis from 2021 to 2031 to identify the prevailing laminate timber market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the laminate timber market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global laminate timber market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeCross-Laminated Timber (CLT)
Glue Laminated Timber (Gulam)
Laminated Veneer Lumbar (LVL)
Others
By End-Use IndustryResidential
Non-Residential
Application Type
Commercial
Institutional
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Structurlam Mass Timber Corporation
Stora Enso
HASSLACHER Holding GmbH
Eugen Decker & WebMan
NORDIC STRUCTURES
Binderholz GmbH
Mayr-Melnhof Holz Holding AG
SmartLam
DRJ Wood Innovations
KLH Massivholz GmbH
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