Rockville , Aug. 16, 2023 (GLOBE NEWSWIRE) -- As per this detailed Fact.MR research analysis, the global glue laminated timber market accounts for a valuation of US$ 8 billion in 2023 and is forecasted to climb to a size of US$ 13 billion by the end of 2033.
Glue laminated timber, or glulam, is a versatile and durable engineered wood product widely used in the construction industry for its structural strength, aesthetic appeal, and environmental benefits. Governments worldwide are promoting green building practices and providing incentives for the use of eco-friendly construction materials, positively impacting the glulam market.
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Glulam offers excellent strength-to-weight ratios and can be shaped into various architectural forms, making it a preferred choice for modern construction designs. Glulam beams are wood products that have been developed to satisfy particular performance standards. Due to its flexibility in shape, glulam does not need to be mined or subjected to energy-intensive production processes such as steel and cement.
One significant factor contributing to the growth of the glue-laminated timber market is the rising popularity of wooden furniture. Furniture for the home and business, including wooden furniture, is distinguished by increased durability and long replacement cycles. Because of increasing brand awareness among many consumers, there is a greater need for luxury wooden furniture and home furnishing products. This is likely to have a favorable effect on market expansion over the coming years.
Key Takeaways from Market Study
- The global glue laminated timber market is valued at US$ 8 billion in 2023.
- Sales of glue laminated timber are estimated to reach US$ 13 billion by 2033.
- Demand for glue laminated timber is set to increase at a CAGR of 5% through 2033.
- Premium-grade glue laminated timber accounts for 40% share of the global market.
- Use of framing-grade glue laminated timber is forecasted to rise at a CAGR of 5.2% over the next ten years.
- The market in Germany is projected to expand at 3% CAGR through 2033.
“Premium-grade glue-laminated timber provides long-term structural stability and reduces maintenance costs over the lifespan of a building. This durability factor is particularly advantageous for projects in harsh environments or those exposed to challenging weather conditions. Premium-grade glulam can be treated with fire-retardant coatings to enhance its fire resistance, providing an added safety advantage in construction projects,” says a Fact.MR analyst
Key Companies Profiled in This Report
- Structural Wood Systems
- Boise Cascade
- Ledinek
- Buckland Timber
- Siniat
- Saint-Gobain
- Swedish Wood
- Stora Enso Oyj
- Calvert Co. Inc.
- Pfeifer Group
- Canfor Corp.
- Setra Group AB
Winning Strategy
As per Fact.MR, a market research and competitive intelligence provider, top glue laminated timber manufacturers are emphasizing the development of the product's technology. Over the projection period, such developments, along with competitive pricing, are probably going to help them grow their market share. To address the challenges associated with employing glue-laminated timber and to improve product quality, businesses are making significant investments in research and development.
Leading companies are prioritizing quality control throughout the manufacturing process to deliver glulam products that meet or exceed industry standards. They obtain relevant certifications to demonstrate their commitment to producing high-quality and reliable products.
For instance,
- In 2019, Boise Cascade Company (Boise Cascade) announced that it has successfully acquired Alabama-based American Lumber Distributors. American Lumber is a supplier of a wide range of building supplies. With its skilled employees, it will be a great addition to Boise's national distribution network and increase its capacity to provide services in Southeast Asia.
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Key Segments of Glue Laminated Timber Industry Research Report
- By Type :
- Premium Grade
- Framing Grade
- Industrial Grade
- Architectural Grade
- By Shape :
- Straight
- Curved
- Custom
- By Application :
- Residential
- Commercial
- Industrial
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global glue laminated timber market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the glue laminated timber market based on type (premium grade, framing grade, industrial grade, architectural grade), shape (straight, curved, custom), and application (residential, commercial, industrial), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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