Mass Timber Construction Market By Construction Type (1-8 Storey, Above 8 Storey), By Material (Cross-laminated Timber (CLT), Nail-laminated Timber (NLT), Glue-laminated Timber (GLT), Other), By Application (Residential Construction, Commercial Construction, Industrial Construction): Global Opportunity Analysis and Industry Forecast, 2022-2031
The Mass Timber Construction Market valued for $857.10 million in 2021 and is estimated to reach $1,542.20 million by 2031, exhibiting a CAGR of 6% from 2022 to 2031. Mass timber construction includes the construction of residential, commercial, and industrial buildings using engineered wood products that have been formed by fastening or gluing the wood panels in layers for providing stability and strength. Mass timber construction makes use of mass timber panels to form the primary structure of residential, commercial, and industrial buildings.
The mass timber construction market is driven mainly by the growth in the remodeling and renovation of older buildings. In addition, the latest housing projects are been responsible to drive the growth of the mass timber construction industry. Moreover, lumber and timber are eco-friendly and cost efficient alternatives over the steel, cement and other wood products which in turn is leading to growth in the adoption of mass timber over concrete and steel for construction.
Moreover, mass timber and other engineered wood emits lesser or no carbon or other harmful products during manufacturing as compared to materials, such as aluminum, steel, or concrete. Thus, timber and other engineered wood helps in minimizing the greenhouse gas emissions. Moreover, resins or adhesives which are been used in mass timber does not produces the greenhouse gases and are more environmentally stable. Thus, this led to growth in the adoption of timber by the architects and builders.
However, cheaper materials available sch as foils and plastic along with re-used engineered wood panels and products acts as restraints for the growth of the market.
In addition, during the outbreak of the COVID-19 pandemic, the construction, manufacturing, hotel, and tourism industries were majorly affected. Construction activities were halted or restricted. This led to a decline in mass timber construction and the demand for construction in the market, thereby restraining the growth of the mass timber construction market. Conversely, industries have gradually resumed their regular services. This is expected to lead to the re-initiation of companies at their full-scale capacities, which helped the market to recover by the end of 2021.
However, urbanization of developing countries in Asia-Pacific and LAMEA is expected to boost the mass timber construction market during the forecast period.
The mass timber construction market is segmented into construction type, type, application, and region. On the basis of construction type, the market is bifurcated into 1-8 stories and above 8 stories. On the basis of type, the market is segmented into cross-laminated timber(CLT), glue-laminated timber(GLT), nail-laminated timber(NLT), and others. On the basis of application, it is classified into residential, commercial, and industrial. On the basis of region, it is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
In 2021, Europe was the highest contributor to the global mass timber construction market share, and LAMEA is anticipated to secure a leading position during the forecast period.
On the basis of type, in 2021 the cross-laminated timber segment dominated the mass timber construction market, in terms of revenue, and the Nail-laminated timber segment is expected to witness growth at the highest CAGR during the forecast period. On the basis of construction type, in 2021, the type IVA segment led the mass timber construction market, and the type IVC segment is expected to exhibit the highest CAGR in the near future. By application, the residential segment led the market in 2021, in terms of revenue, and the industrial segment is anticipated to register the highest CAGR during the forecast period.
COMPETITION ANALYSISKey companies profiled in the mass timber construction market report include Canadian Timberframes Ltd., Hearthstone Homes, Hochstetler Milling Ltd., Honest Abe Log Homes, Inc., Lancaster County Timber Frames Inc., Mill Creek Post & Beam Company, American Post & Beam, British Columbia Timberframe Company, Blue Ridge Timberwrights, and Davis Frame Co.
The report offers a thorough analysis of Mass Timber Construction Market with detailed study of various aspects of the market such as market dynamics, vital segments, major geographies, key players, and competitive landscape. The report provides a clear picture of the current market situation and future trends of the Mass Timber Construction Market based on the impact of various market dynamics and vital forces influencing the market. The drivers and opportunities in the market contributing to the market growth are acknowledged in the market dynamics. Besides, challenges and restraints that hold potential to hamper the market growth are also premeditated in the Mass Timber Construction Market. Porter's five forces analysis is delivered through the report which precisely highlights the effects of key forces on the Mass Timber Construction Market. The report offers market size and estimations analyzing Mass Timber Construction Market through various segments.
In addition, the report includes geographical market analysis of these segments. Each segment entailed in the report is studied at regional and country level as well to provide complete coverage of Mass Timber Construction Market. The report categorizes the Mass Timber Construction Market into four major geographies including North America, Europe, Asia-Pacific, and LAMEA. These geographies are further sub-categorized into countries to cover Mass Timber Construction Market scenario across in respective regions. Furthermore, the report covers competitive scenario of the Mass Timber Construction Market. The key players operating in the Mass Timber Construction Market are studied in the report to understand their current market position and competitive strengths in the industry.
The report profiles 10 key companies. Moreover, the company profiles include various data-points such as company overview, company executives, recent financials of the company, major growth strategies espoused by company, new initiatives and advancements by company to sustain and mend their position in the Mass Timber Construction Market, and others
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mass timber construction market analysis from 2021 to 2031 to identify the prevailing mass timber construction 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 mass timber construction 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 mass timber construction market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Construction Type1-8 Storey
Above 8 Storey
By MaterialCross-laminated Timber (CLT)
Nail-laminated Timber (NLT)
Glue-laminated Timber (GLT)
Other
By ApplicationResidential Construction
Commercial Construction
Industrial Construction
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Hochstetler Milling, Ltd.
American Post & Beam
Hearthstone Homes, Inc.
Honest Abe Log Homes, Inc.
Davis Frame Company
Lancaster County Timber Frames Inc.
Mill Creek Post & Beam Company
British Columbia Timberframe Company
Blue Ridge Timberwrights
Canadian Timberframes Ltd.
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