Glue Laminated Timber Market Research Report – Global Forecast till 2030

Glue Laminated Timber Market Research Report, By Application (Residential, Commercial, Others) and Region — Global Forecast till 2030

ID: MRFR/CO/5758-HCR | February 2021 | Region: Global | 100 pages

Glue Laminated Timber Market

Glue-Laminated Timber Market value is projected to be USD 3,862.10 million by 2030 registering a CAGR of 3.30% for the forecast year 2021-2030

Segmentation

By Application Residential Commercial Others

Key Players

  • Boise Cascade Co
  • Pfieifer Holz GMBH
  • Setra Group AB
  • Canfor Corporation
  • Calvert Company Inc
  • Binderholz GmBH
  • Mayr-Melnhof Schilling AB
  • Sturcturlam
  • Hasslacher Holding GMBH

Drivers

  • Easy financing options available for private housing
  • Commercial buildings
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Glue Laminated Timber Market Overview


The CAGR for the glue-laminated timber market is 3.30%. The market is expected to register this growth rate for the five years from 2021-2030. The glue-laminated timber market value is projected to be USD 3,862.10 million by 2030. This is up from USD 4.76 billion in 2016.


Glue-laminated timber is popular because it’s strong and beautiful. It also lasts for years. It’s also not easily warped by chemicals.


COVID-19 analysis


COVID-19 is a dangerous virus. In fact, it’s the most dangerous virus that the post-modern era has seen. What made it dangerous was the fact that it made some people who got it deathly ill and even resulted in a few deaths. But what made people fear this virus the most - especially at first - was the fact that people who recovered could get it again and the fact that it could cause long-term health problems like strokes and other types of heart disease.


Governments realized this early on. That’s why they imposed quarantines and lockdowns. While these were soon lifted since they didn’t really do a good job at stopping the spread of COVID-19, many companies in most industries around the world suffered. They were forced to either shut down temporarily or dramatically scale their operations back. Some companies were forced out of business because of this.


Well, the companies in the glue-laminated timber market suffered the exact opposite fate because of COVID-19. Demand for this material soared during the height of the pandemic. Not surprisingly, so did the price of each unit of glue-laminated timber. What accounted for this was the fact that people were remodeling and renovating their homes with fervor during the quarantine and lockdown periods. Thus, demand for glue-laminated timber greatly exceeded supply.


List of companies



  • Boise Cascade Co - USA

  • Pfieifer Holz GMBH - Germany

  • Setra Group AB - Sweden

  • Canfor Corporation - USA

  • Calvert Company Inc - USA

  • Binderholz GmBH - Germany

  • Mayr-Melnhof Schilling AB - Austria

  • Sturcturlam - Canada

  • Hasslacher Holding GMBH - Germany


Market dynamics


Drivers


The glue-laminated timber market is currently experiencing phenomenal growth. There are some factors that account for this. The first is that the products look nice, are strong, economical, don’t warp easily when exposed to chemicals, and last for decades. Thus, many contractors and homeowners want to use it.


It’s made out of waterproof adhesives. This quality makes it one of the construction materials of choice when building bridges, utility poles, and docks. This quality is also making it popular in new infrastructure and construction projects.


Opportunities


Glue-laminated timber is easy on the enviornment. This is creating enormous opportunities for the glue-laminated timber market. Its environmental friendliness is the reason why many who are advocating the construction of green buildings encourage and demand the usage of glue-laminated timber in these projects.


This phenomenon is encouraging those in the glue-laminated timber industry to invest much more intensively in the processes and technologies that make glue-laminated timber. The objective is to try to make superior products that will help buildings last longer and will be friendlier for the environment.


Restraints


More and more manufacturers of glue-laminated timber complain that the primary species of wood - spruce and pine - are harder to source because of climatic changes that are hindering the growth of these trees.


Challenges


Glue-laminated timber is porous. All timber is. Therefore, it can become warped with time as it absorbs moisture from the environment. This is going to be a key challenge for companies in the glue-laminated timber market going forward.


Cumulative growth analysis


The CAGR for the glue-laminated timber market is 5.5%. The market is expected to register this growth rate for the five years from 2018 to 2023. The glue-laminated timber market value is projected to be USD 8.0 billion by 2025. This is up from USD 4.76 billion in 2016


Technology analysis


Boise Cascade Company is a major American player in the global glue-laminated timber industry. It became an industry leader by investing heavily in research, development, and marketing. Thus, it was able to develop a new generation of superior products which it could sell for a premium in the market. The company as also able to develop a sustainable competitive advantage that made it an industry authority.


Segment overview


By application


The glue-laminated timber market can be grouped into the following sub-segments based on application:



  • Commerical

  • Residential

  • Others


The residential sub-segment held the greatest glue-laminated timber market share in 2017. It’s also expected to grow at a high CAGR for the time period that this report covers. What’s driving growth in this sub-segment is the fact that more people around the world want to renovate and reconstruct their residential and commerical buildings.


Also, more people are spending lavishly on interior design. This is expected to bolster growth for this sub-segment in the near and long-term future. Many people are investing more in affordable and sustainable housing solutions. This is also expected to be a major growth driver for this sub-segment.


The commercial sub-segment is expected to have the second-largest glue-laminated timber market share in this segment. This is because glue-laminated timber is used more extensively in various commercial and residential building and infrastructure projects. These include but are not limited to office buildings, hotels, bridges, gyms, public and government buildings, hospitals, airports, and other rec facilities.


Once again, glue-laminated timber is affordable. It’s also stiffer and stronger than most other timber products in the same price range. The fact that using moisture-resistant adhesives can make it almost completely waterproof makes it the material of choice when building beams, curved members, and other strong and sturdy pieces of architecture.


Regional analysis


The global glue-laminated timber market can be grouped into the following regions:



  • North America

  • Asia-Pacific

  • The European Union

  • The rest of the world


Demand for glue-laminated timber is skyrocketing in the Asia-Pacific and Middle Eastern regions mainly because these regions are industrializing and modernizing rapidly. Thus, the demand for residential, commercial, and other buildings is skyrocketing.


The Asia-Pacific region is expected to register a high CAGR for the time period that this report covers. There are a few reasons for this. The first is because most governments in the Asia-Pacific region have been passing legislation and promoting policies that encourage the building of more high-quality infrastructure. The same applies to building new houses.


Glue-laminated timber is flexible. Therefore, it has many applications. These are mainly in warehouse roof beams, highways, and bridge beams. It’s affordable and many governments are offering builders easy financing options to encourage them to build more. This is encouraging more developers to build more office buildings and houses throughout the region.


Additionally, most governments in all regions of the world that this report covers are encouraging the construction of more green buildings in their nations. This is driving huge demand for glue-laminated timber. It’s easy on the environment since it’s easy to harvest this type of timber from plantations and smaller forests.


Competitive landscape


The global glue-laminated timber industry is extremely competitive. The reasons for this are that the market has a high CAGR and is fairly lucrative. Additionally, there are few barriers to entry, especially for larger companies with huge treasuries. This is encouraging many companies, especially larger ones, to enter the industry with breakneck speed.


Companies are finding that they have to invest heavily in research and analysis if they want to develop the newer generations of superior products that will give them the sustainable competitive advantage that they need to continue to dominate the industry and remain profitable.


Many companies are finding that entering into strategic partnerships with other successful companies in the glue-laminated timber industry is allowing them to increase their knowledge bases, financial resources, and human resources. Thus, they are able to invest more in research and development. They are also able to market more extensively.


These companies are able to enter new markets and consolidate their positions in existing markets.


Mergers and acquisitions with other successful companies also has the same results.


Pfiefer Holz GMBH is a major German player in the global glue-laminated timber industry. It has managed to develop a sustainable competitive advantage by investing heavily in research and development. Thus, it has been able to develop and market superior products at much higher price points than the competition has been able to justify. Incidentally, this company has also managed to become a respected industry leader.


Recent developments



  • Boise Cascade Co launches website for Millwork business


Report overview


The CAGR for the glue-laminated timber market is 5.5%. The market is expected to register this growth rate for the five years from 2018 to 2023. The glue-laminated timber market value is projected to be USD 8.0 billion by 2025. This is up from USD 4.76 billion in 2016.


The Asia-Pacific and Middle Eastern regions are expected to register high CAGRs mainly because of heavy modernization and industrialization



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 3,862.10 million
  CAGR   3.30% 2030
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Technology, by Application, by Material
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Boise Cascade Co., Pfeifer Holz GmbH, Setra Group AB, Canfor Corporation, Calvert Company Inc., Binderholz GmbH., Mayr-Melnhof Holz Holding AG, Schilliger Holz AG, Structurlam, and Hasslacher Holding GmbH
  Key Market Opportunities

  • Rapid urbanization
  • Unprecedented growth in the construction sector
  •   Key Market Drivers

  • Easy financing options available for private housing
  • Commercial buildings


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    Frequently Asked Questions (FAQ) :

    Glue Laminated timber market would record 3.30% CAGR during the forecast 2030.

    Favorable infrastructure and housing policies would drive the APAC glue laminated timber market.

    Increase in number of new construction projects would drive Middle Eastern and South American glue laminated timber market.

    The residential segment would dominate glue laminated timber market.

    Market players are Pfeifer Holz GmbH, Boise Cascade Co., Canfor Corporation, Setra Group AB, Binderholz GmbH., Structurlam, Calvert Company Inc., Schilliger Holz AG, Mayr-Melnhof Holz Holding AG, and Hasslacher Holding GmbH.