The global Glue Laminated Timber market is forecast to reach USD 8.80 Billion by 2027, according to a new report by Reports and Data. The transition from concrete and steel construction to wood building materials is expected to stimulate market demand. Important attributes such as high insulation, promising thermal performance, and high chemical resistance should positively influence the market. Besides, the advantages such as low cost and ease of construction offered by glue laminated timber compared to other construction materials have made it affordable for all customer segments.
The demand for wood-based residential constructions, including single-family houses and multi-family apartments, is increasing due to their aesthetic appeal and flexibility in design. Several benefits, such as improved fire resistance and durability of the product, are expected to increase market growth over the forecast period.
The residential and commercial segments are expected to collectively account for approximately 89 percent of global market revenues by 2027. The growing demand for these segments is attributed to the low cost of construction and the ease of maintenance of glue laminated timber. Innovations in building and design technologies are expected to stimulate demand for glue laminated timber products over the forecast period.
The easy availability of wood in the forests of central European countries and the presence of advanced wood processing industries are the main factors responsible for the growth of the market in Europe. Countries like Canada, the United States, Italy, Japan, Australia, and China are rapidly developing markets for glue laminated timber.
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Key participants include Structural Wood Systems, Forest Timber Engineering Ltd., Boise Cascade, Mayr-Melnhof Holz Gaishorn GmbH, Ecocurves, Pfeifer Holz GmbH, Canfor Corporation, Setra Group AB, Binderholz GmbH, and Meiken Lamwood Corp., among others.
Further key findings from the report suggest
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Market Overview:
Rapid developments in the manufacturing sector and equipment, robust growth in the building and construction sector, high adoption for eco-friendly materials in constructions and increasing demand for smart buildings and smart homes are boosting market growth. Steady increase in the disposable income across the globe, improvements in the standard of living, increasing number of redevelopment plans and high demand for aesthetic look and posh homes are further fueling market growth. In addition, increasing R&D investments, and government schemes to support manufacturing and construction industry are fueling growth of the global Glue Laminated Timber market.
For the purpose of this report, Reports and Data have segmented into the global Glue Laminated Timber market on the basis of Type, Shape, Application, and Region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Shape Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
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Detailed Regional Analysis Covers:
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