Glued laminated timber, commonly referred to as glulam, is expected to grow at a CAGR of 5.8% between 2024-2030 and is expected to reach $5.39 billion. The glue-laminated timber market is experiencing growth due to global expansion in interior and construction designing, according to Maximize Market Research. Advancements in product development have increased demand, especially in the building & construction industry.
Laminated timber’s commendable properties like high tensile strength have fueled market growth. It is becoming an important aspect of interior designing, with architects showing more inclination towards it. Additionally, it is a sought-after material in furniture and leather industries, with manufacturers and consumers increasingly aware of its benefits compared to traditional materials like mortar and concrete.
Glue-laminated timber’s durability and quality have caught the eye of the leather and construction industries, driving market growth. Manufacturers and consumers prefer it over cross-laminated timber.
However, factors like consumer awareness and raw material availability could hinder market expansion. Issues like deformation, high cost, and wood cracking may also pose challenges for market growth. The major key players are the Boise Cascade Co., Pfeifer Holz GmbH, Setra Group AB, Canfor Corporation, Calvert Company Inc., Binderholz GmbH., Mayr-Melnhof Holz Holding AG, and Schilliger Holz AG. The Global market is analyzed regionally with North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Europe is the market’s fastest-growing region due to key manufacturers, easy raw material availability, and increasing demand for glue laminated building materials. Government housing policies, rising disposable income, consumer awareness, and industrialization are also driving market growth. The region offers lucrative opportunities over the forecast period.
Source: Woodworking Network
