Glue Laminated Timber Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company's Glue Laminated Timber Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The glue laminated timber market, a key segment of the engineered wood products sector, has demonstrated steady growth in recent years. It is projected to increase from $3.48 billion in 2023 to $3.65 billion in 2024, achieving a Compound Annual Growth Rate (CAGR) of 4.9%. It will grow to $4.24 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%.This growth trajectory can be attributed to the rising utilization of glue laminated timber across various industries, bolstered by rapid advancements in the construction sector and increasing demands from both residential and commercial applications.

Rapid Growth in Construction Industry Drives Market Expansion
The rapid expansion of the construction industry worldwide is a primary driver fueling the demand for glue laminated timber. With increasing investments in infrastructure, growing housing needs, and a rising focus on sustainable building materials, glue laminated timber offers an attractive solution. Its versatility, structural strength, and aesthetic appeal make it ideal for modern construction projects. For instance, the UK construction sector saw a substantial rise of 12.7% in 2021 compared to the previous year, underscoring the robust growth driving the glue laminated timber market.

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Major Players and Market Trends
Key companies such as Stora Enso Oyj, Boise Cascade Company, and Canfor Corporation are actively engaged in product innovation to maintain their competitive edge. For example, Timber Link International Limited launched the NeXTimber brand in 2021, featuring cross-laminated timber (CLT) panels and glue-laminated timber (GLT) members. These innovations aim to meet the demand for taller and more complex structures while enhancing environmental sustainability.

Market Segments
The glue laminated timber market is segmented based on:
• Type: Premium Grade, Framing Grade, Industrial Grade, Architectural Grade
• Shape: Straight, Curved, Custom
• Application: Floor And Roof Beams, Replacement, Household Framing, Window And Door Headers, Supporting Columns, Ridge And Curved Beams
• End-Use: Building And Construction, Architecture

Geographical Insights: Asia-Pacific Leading Growth
Europe dominated the glue laminated timber market in 2023, driven by significant infrastructure development. However, Asia-Pacific is expected to emerge as the fastest-growing region in the forecast period. This shift is attributed to rapid urbanization, increasing construction activities, and rising investments in sustainable building solutions.

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Glue Laminated Timber Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Glue Laminated Timber Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on glue laminated timber market size, glue laminated timber market drivers and trends, glue laminated timber market major players, competitors' revenues, market positioning, and market growth across geographies. The glue laminated timber market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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