Glue Laminated Timber Market

Glue Laminated Timber Market Size

The global Glue Laminated Timber Market size was valued at USD 2.61 billion in 2022 and is projected to reach USD 4.28 billion by 2030, growing at a CAGR of 6.37% from 2023 to 2030. The growing demand for timber construction, particularly in the residential and commercial sectors, is likely to propel the glue laminated timber market growth. This demand is being driven by the increasing popularity of sustainable and environmentally friendly building materials, as well as by the need to address climate change and reduce carbon emissions. Glulam beams and panels are designed to be stronger and more flexible than traditional solid wood, allowing for greater design freedom in construction projects. The market is driven by factors such as rising demand for sustainable building materials and increasing construction activities.

Analyst’s Review

One significant trend in the glue laminated timber market is the rise of mass timber construction, which incorporates glulam and other engineered wood products into larger building structures. There is also a growing interest in using sustainable and responsibly sourced wood in the production of glulam, as well as a focus on reducing waste and energy use during the manufacturing process. There is also a growing interest in using it in residential construction due to its durability and aesthetic appeal. Overall, the market is expected to continue growing in the coming years due to its many benefits and increasing demand for sustainable building materials.

Market Definition

Glue-laminated timber, also known as glulam, is an engineered wood product that is constructed by bonding layers of dimensional lumber together using durable and moisture-resistant adhesives. The manufacturing process typically includes drying and packaging the boards, joining the wood to create long laminations, applying adhesive, finishing, and building up the layers. Glulam offers numerous advantages, including flexibility in shape and size, and versatility in use for various systems. As a convenient material for roofing, glulam continues to be a popular choice for many applications.

Glulam is majorly used in construction and is a versatile and durable material that is favored for buildings, bridges, and industrial and commercial buildings. It is also a popular choice for sports buildings due to its higher strength and stiffness compared to full-size timber. Glulam can be molded into virtually any shape or size, which gives architects greater flexibility in creating unique and innovative building designs. It is even strong enough to be used for frames and columns in residential buildings.

As glulam is a renewable and carbon-neutral material, it is frequently used in sustainable construction projects. Incorporating glulam in energy-efficient design and construction can enhance a building's energy efficiency and environmental sustainability. Moreover, the material is known for its durability, resistance to warping, checking, and cracking, making it a suitable option for outdoor applications in various weather and climate conditions.

Market Dynamics

There has been a rising demand for customized shapes in glue-laminated timber (glulam) due to its flexibility in design. Glulam's manufacturing process allows for unique shapes and sizes to be crafted, making it a great option for architects and builders looking to create distinctive structures. As a result, glulam has become increasingly popular in the construction industry, with a growing number of firms opting for this material in their projects. This trend is expected to continue in the coming years, as there is a growing demand for sustainable and adaptable building materials, and glulam's versatility in shape and size makes it a strong contender in the glue laminated timber market.

The concern pertaining to moisture loss that can lead to longitudinal cracking in glued laminated timber (glulam) is hampering the market growth. The loss of moisture in glulam can cause the constituent layers to shrink and develop cracks that can compromise its structural integrity and, in turn, potentially result in structural failure. Monitoring the moisture content of glulam during installation and in varying environmental conditions is crucial. Additionally, special care should be taken during the manufacturing process to avoid excessive moisture loss, such as adopting kiln-drying techniques to remove moisture before adhering to the layers. By applying proper moisture management techniques and keeping an eye on the manufacturing process, the risk of longitudinal cracking can be minimized in glulam.

Segmentation Analysis

The global glue laminated timber market is segmented based on product, application, and geography.

By Application

Based on the application, the market is segmented into floor and roof beams, replacement, household framing, window & door headers, supporting columns, ridge & curved beams, and others. The floor and roof beams segment held the highest market revenue of USD 1.21 billion in 2022. Glue laminated timber has become a preferred material for floor and roof beams in the construction industry due to its high strength and adaptability. Its exceptional load-bearing capacity makes it a dependable option for supporting the weight of buildings, while its customizable properties enable it to fit various design requirements. Given its durability and eco-friendliness, glue laminated timber has emerged as a leading choice for builders looking to construct robust and sustainable structures.

By End-Use

Based on the end-use, the glue laminated timber market is categorized into building and construction, architecture, and others. The building and construction segment accumulated the largest market share of 46.4% in 2022. Governments around the world have implemented programs to promote the use of sustainable building practices, which have led to the increased adoption of glue laminated timber (glulam) in building and construction projects. As an eco-friendly and durable material, glulam has gained popularity in programs aimed at encouraging the use of renewable and energy-efficient building materials.

Glue Laminated Timber Market Regional Analysis

Based on regional analysis, the global glue laminated timber market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Europe dominated the market share at 57.60% in 2022 owing to the major presence of manufacturers and increasing industrialization. The glue laminated timber market is expected to receive notable contributions from Germany and Italy, with both countries forecasted to make a substantial impact. However, Austria boasts the world's highest production rate of glue laminated timber with its ready access to softwood spruce and pine. This has positioned Austria as a key player in the global market for sustainable construction materials, with its domestic production capabilities allowing for increased competitiveness and greater opportunities for growth.

Competitive Landscape

The global glue laminated timber market study report will provide valuable insight with an emphasis on the fragmented nature of the global market. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. Expansion & investments involve a range of strategic initiatives including investments in R&D activities, new manufacturing facilities, and supply chain optimization.

List of Key Companies in Glue Laminated Timber Market

• Mayr-Melnhof Holz Holding AG
• Western Forest Products
• Moelven
• Boise Cascade
• Binderholz GmbH
• Structurlam Mass Timber Corporation
• B&K Structures
• Pfeifer Holding GmbH
• Canfor
• Schilliger Holz AG
• Setra Group AB
• HASSLACHER Holding GmbH

Key Industry Developments

• February 2023 (Acquisition): HASSLACHER Group has made a strategic investment by acquiring a 40% stake in Egoin Wood Group, a company that specializes in the development of construction timber solutions for the domestic and international markets. This move is expected to enhance HASSLACHER's portfolio of sustainable construction materials, enabling the company to expand its offerings and further strengthen its position in the market.
• February 2023 (Expansion): Holmen, a leading manufacturer of wood products, is committed to advancing sustainable construction by investing in the enhanced manufacture and processing of wood products. The production of wood products has become a significant aspect of the company's overall operations, with a particular focus on incorporating cross-laminated timber (CLT) and glue laminated timber (glulam) materials. With the strategic acquisition of Martinsons in 2020, the firm has further strengthened its position in the use of contemporary wood building materials.
• July 2022 (Acquisition): Western Forest Products has acquired the majority of assets of Calvert Company, one of the glulam manufacturers to establish its position as a leader in the burgeoning market for solid wood-engineered products. The acquisition aligns with their overarching strategy of increasing value proposition by expanding a suite of value-added products, thereby furthering our position in the marketplace.

The Global Glue Laminated Timber Market is segmented as:

By Application

• Floor and Roof Beams
• Replacement
• Household Framing
• Window & Door Headers
• Supporting Columns
• Ridge & Curved Beams
• Others

By End-Use

• Building and Construction
• Architecture
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America