Global Glue Laminated Timber Market Size To Exceed USD 6.2 Billion By 2033 | CAGR of 4.22%
The Global Glue Laminated Timber Market Size was Valued at USD 4.1 Billion in 2023 and the Worldwide Glue Laminated Timber Market Size is Expected to Reach USD 6.2 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Mayr-Melnhof Holz Holding AG, Moelven, Boise Cascade, HASSLACHER Holding GmbH, Setra Group AB, Structural Wood Systems, Inc., Pfeifer Holding GmbH, Confor Corporation, Calvert Company Inc., Sturcturlam, Western Forest Products, Binderholz GmbH, Structurlam Mass Timber Corporation, B&K Structures, and Others.
New York, United States , May 16, 2024 (GLOBE NEWSWIRE) -- The Global Glue Laminated Timber Market Size is to Grow from USD 4.1 Billion in 2023 to USD 6.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.22% during projected period.
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Glue laminated timber, commonly referred to as glulam, is a type of structurally engineered wood product constituted by layers of dimensional lumber bonded together with durable, moisture-resistant structural adhesives. These are manufactured in various shapes, offering artistic freedom possess high strength and stiffness. It has a higher resistance to lateral-torsional buckling than steel. It is environmental friendly as it naturally sequesters carbon with longer life spans, heavier loads, and shape versatility. It has wide application in sports structures, bridges, religious buildings, and others. Several advancements such as resin glues in construction, automatic finger-jointing machines, and computer numerical control have contributed to a wide application in glue laminated timber construction. The growing emphasis on sustainability, environmental consciousness, and inclination towards green construction materials promotes the glue laminated timber market. The increasing urbanization propelling the market demand of glue laminated timber due to rising construction needs, ease of installation, and reduced construction time. On the contrary, the growing concerns about the structural failure of glued laminated timber impede the market growth.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "*Global Glue Laminated Timber Market** Size, Share, and COVID-19 Impact Analysis, By* *Product Type (Straight Beams, Curved Beams, Columns, and Trusses). By Glue Type (Phenol Formaldehyde, Melamine Urea Formaldehyde, Polyurethane, and Epoxy), By End-Use (Floor and Roof Beams, Replacement, Household Framing, Window & Door Headers, Supporting Columns, Ridge & Curved Beams, and Others) and By Application (Residential, Commercial, Industrial Construction, Bridges and Infrastructure, and Others),* *and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."*
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*The straight beams segment dominates the market with the largest revenue share through the forecast period.*
Based on product type, the global glue laminated timber market is segmented into straight beams, curved beams, columns, and trusses. Among these, the straight beams segment dominates the market with the largest revenue share through the forecast period. The straight beam glue laminated timber has a wide range of applications in roof beams, floor beams, and columns in commercial and residential buildings.
*The phenol formaldehyde segment is anticipated to hold the largest market share during the forecast period.*
Based on the glue type, the global glue laminated timber market is segmented into phenol formaldehyde, melamine urea formaldehyde, polyurethane, and epoxy. Among these, the phenol formaldehyde segment is anticipated to hold the largest market share during the forecast period*.* It is most suitable for use in heavy-duty constructions due to its excellent bonding strength and high load-bearing capacity.
*The floor and roof beams segment is anticipated to hold the largest market share during the forecast period.*
Based on the end-use, the global glue laminated timber market is segmented into floor and roof beams, replacement, household framing, window & door headers, supporting columns, ridge & curved beams, and others. Among these, the floor and roof beams segment is anticipated to hold the largest market share during the forecast period. The glue-laminated timber is increasingly used in floor and roof beams due to its high strength and adaptability. The load-bearing capacity of glue laminated timber makes it the leading choice to use in the floor and roof segment.
*The residential segment is expected to hold the largest market share during the forecast period.*
Based on the application, the global glue laminated timber market is categorized into residential, commercial, industrial construction, bridges and infrastructure, and others. Among these, the residential segment is expected to hold the largest market share during the forecast period. Glulam is an eco-friendly and durable material that can be used in various residential segments by homeowners and builders to encourage the use of renewable and energy-efficient building materials. Further, the implementation of programs by the government to promote the use of sustainable building practices has promoted market demand.
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*Europe dominates the market with the largest market share over the forecast period.*
Europe dominates the market with the largest market share over the forecast period. The growing focus on energy efficiency and green building solutions promotes the market demand for glue-laminated timber in the construction sector. The rich architectural heritage places in the region promote the use of traditional building materials, preferably glulam in modern constructions propelling the market demand. Further, the innovative design and engineering with glue-laminated timber meeting rigorous safety standards are anticipated to aid the market growth in the region.
Asia-Pacific region is expected to grow the fastest during the forecast period. The potential growth of the construction sector has promoted the glue laminated timber market. Further, the increasing preference for manufacturing facilities propels the market demand for glue-laminated timber. In the Asia Pacific region, China has the largest market share while India is the fastest-growing market of glue laminated timber in the region.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global glue laminated timber market are Mayr-Melnhof Holz Holding AG, Moelven, Boise Cascade, HASSLACHER Holding GmbH, Setra Group AB, Structural Wood Systems, Inc., Pfeifer Holding GmbH, Confor Corporation, Calvert Company Inc., Sturcturlam, Western Forest Products, Binderholz GmbH, Structurlam Mass Timber Corporation, B&K Structures, and Other Key Players.
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*Recent Developments*
· *In August 2023, *Boise Cascade reached an agreement to purchase Brockway-Smith Company. Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a leading U.S. wholesale distributor of building products. Brockway-Smith Company is a leading wholesale distributor specializing in doors and millwork. This acquisition furthers the strategy to expand the millwork business of BROSCO (Brockway-Smith Company).
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global glue laminated timber market based on the below-mentioned segments:
*Global Glue Laminated Timber Market, Product Type Analysis*
· Straight Beams
· Curved Beams
· Columns
· Trusses
*Global Glue Laminated Timber Market, Glue Type Analysis*
· Phenol Formaldehyde
· Melamine Urea Formaldehyde
· Polyurethane
· Epoxy
*Global Glue Laminated Timber Market, End-Use Analysis*
· Floor and Roof Beams
· Replacement
· Household Framing
· Window & Door Headers
· Supporting Columns
· Ridge & Curved Beams
· Others
*Global Glue Laminated Timber Market, Application Analysis*
· Residential
· Commercial
· Industrial Construction
· Bridges and Infrastructure
· Others
*Global Glue Laminated Timber Market, Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of Middle East & Africa
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