Laminated Timber Market Report and Forecast 2024-2032

According to the report, the global laminated timber market is being propelled by the global cross laminated timber industry, which attained a value of about USD 995.98 million in 2023. Aided by the mounting demand for sustainable building materials and the versatile applications of laminated timber in contemporary architectural designs, the market is further expected to grow in the forecast period of 2024-2032, supported by the global cross laminated timber industry at a CAGR of 13%.

Laminated timber, frequently referred to as glued laminated timber or glulam, is an engineered wood product manufactured by bonding together individual layers of timber. This composite material is renowned for its strength, flexibility, and environmental sustainability. Laminated timber's appeal lies in its aesthetic versatility; it can be moulded into a variety of shapes, rendering it a favourite among modern architects and designers.

The growing consciousness towards eco-friendly construction materials is a driving force behind the laminated timber market growth. With climate change taking centre stage globally, there's a rising demand for sustainable and renewable construction materials, placing laminated timber in a favourable position. Its lower carbon footprint compared to concrete and steel reinforces its reputation as a green alternative.

Simultaneously, the global architecture industry is experiencing a renaissance in wooden constructions. From skyscrapers to bridges, laminated timber is heralded for its ability to blend structural strength with visual appeal. These contemporary wooden structures not only reduce the overall weight of the building but also offer earthquake resilience, a feature particularly appealing to seismic zones.

Furthermore, the inherent properties of laminated timber, such as thermal efficiency and sound insulation, are propelling the laminated timber market demand in residential constructions. With urban areas grappling with noise and temperature fluctuations, laminated timber structures offer a cocoon of tranquillity and comfort.

In industrial applications, laminated timber's attributes extend beyond aesthetics and sustainability. Its lightweight nature, combined with its formidable strength, makes it a desired material in constructing warehouses, hangars, and factories. Its ability to span long distances without intermediary columns offers an expansive and flexible interior space.

The cosmetics of laminated timber cannot be understated. In the sphere of interior design, laminated timber beams, arches, and columns are coveted for the warmth and natural elegance they bring. The demand for spaces that mirror natural environments, a trend known as biophilic design, is further influencing the laminated timber market outlook.

Innovation in the laminated timber sector is paving the way for broader applications. Fire-resistant laminated timber, developed through intensive research, is finding its way into public buildings, schools, and other infrastructures that prioritise safety. Moreover, advancements in adhesive technologies are ensuring that laminated timber structures have longevity and resistance to environmental elements.

Market Segmentation

The market can be divided based on type, end use, and region.

Market Breakup by Type

• Cross Laminated Timber (CLT)
• Glue Laminated Timber (Glulam)
• Nail Laminated Timber (NLT)
• Others

Market Breakup by End Use

• Residential
• Institutional
• Commercial

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global laminated timber market. Some of the major players explored in the report are as follows:

• Ace Hardware Corporation
• Century Furniture LLC
• Forever Patio
• Haworth, Inc.
• Nilkamal Furniture
• Others