Glue Laminated Timber Market Size, Share & Trends Analysis Report By Application (Residential, Commercial), By Region (North America, Europe, Asia Pacific, CSA, and MEA), And Segment Forecasts, 2018 - 2025

Industry Insights

The global glue laminated timber market, most commonly known as glulam, was valued at USD 4.76 billion in 2016 and is projected to grow at a CAGR of 5.9% over the forecast period. Growing sustainability concerns across the globe and mounting awareness among consumers about wood as a building material are likely to be the major driving forces for the market in the coming years. Shifting consumer preference for wood-based construction owing to its durability, high thermal performance, and light weight is expected to propel market growth over the forecast period.

The demand for glue laminated timber has observed a tremendous surge recently on account of the evolution of wood as a low-cost and sustainable alternative to steel and concrete. The growing acceptance of glue laminated timber, due to its superior strength, ease of construction, and maintenance, is likely to fuel market growth over the next eight years. Increasing popularity of the product and awareness regarding its benefits in regions such as North America and Asia Pacific is anticipated to positively impact the market.

Glue laminated timber can be used in framing, floor and roof beams, columns, door headers, trusses, and many other areas. Expanding application base for the product in construction across diverse sectors such as residential, commercial, as well as industrial is projected to aid market growth over the forecast period.

Key attributes associated with glue laminated timber, such as consistent performance, durability, and chemical resistance, are set to promote market growth. Moreover, glue laminated timber, being environment-friendly, has attracted the attention of governing authorities across the globe as a green building material. Major players in the industry are constantly striving for technological advancements to manufacture quality products with increased efficiency.

However, the tendency of wood to absorb moisture from the atmosphere is expected to pose a challenge to the market. The use of spruce and pine in glulam production could also have adverse impact on the market as specific climatic conditions are a prerequisite for spruce and pine to grow; thus, adverse climatic conditions may hinder raw material availability for the market. Furthermore, manufacturers are required to conform to regulations laid by numerous timber authorities in different regions. 

Application Insights

Glue laminated timber can be used for residential as well as non-residential construction to reduce the erection time to a great extent as compared to steel or concrete. Residential segment held the maximum share in the global glue laminated timber market in 2016. This can be attributed to the increasing use in the residential construction applications such as flooring & roofing systems and straight or arched beams.

The favorable aesthetic qualities of glulam make it even more suitable for the residential segment, as there is a high demand for designing stylish houses. The design flexibility offered by the product is also a major factor promoting market growth. Glulam is also fire-resistant owing to which it is a safe and perfect fit for residential constructions. Residential construction is hence, likely to be the fastest growing application segment.

Additionally, the product is also used for commercial and industrial purposes. Growing demand for the product due to its ability to span long distances, its ease of use in constructions, and favorable performance in the construction of a variety of structures such as office buildings, plants, malls, schools, colleges, and bridges is anticipated to augment the market.

Additionally, the product is also used for commercial and industrial purposes. Growing demand for the product due to its ability to span long distances, its ease of use in constructions, and favorable performance in the construction of a variety of structures such as office buildings, plants, malls, schools, colleges, and bridges is anticipated to augment the market.

Regional Insights

Germany and Italy cumulatively accounted for around 60% of the Europe market revenue owing to the high acceptance and growing consumption of wood as a building material. Austria, being a rich source of softwood spruce and pine, is the largest production of glue laminated timber across the globe.

The demand for glulam in North America was valued at USD 360.1 million in 2016. The U.S., being a premier market in the region, makes most of its imports from Canada. The popularity of glue laminated timber in North America is not as high as other engineered wood products. However, despite low acceptance, it is used for framing and flooring & roofing systems in most residential buildings in the region.

The growing consumer demand for stylish and luxury apartments is likely to have a positive impact on the industry. Rising preference of manufacturers to shift manufacturing facilities to China and Australia is also expected to fuel its production. Asia Pacific is expected to offer tremendous opportunities for market growth. Growing consumption of glue laminated timber in Japan and other Asian countries is likely to spur market demand over the forecast period.

Glue Laminated Timber Market Share Insight

Key players in the market include Boise Cascade Co., Canfor Corporation, Pfeifer Holz GmbH, Calvert Company, Inc., and Setra Group AB. In April 2016, Canfor acquired Wynndel Box & Lumber Ltd., based in British Columbia, to expand its operations and provide its customers with high quality products and improved service.

Manufacturers of glue laminated timber continue to focus on technological advancements in the product. Such developments, coupled with competitive pricing, are likely to assist them in increasing their market share over the forecast period. Companies are investing heavily in research and development to overcome the barriers faced while using glue laminated timber and to enhance product quality. 

Report Scope

Segments covered in the report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the glue laminated timber market on the basis of application and region:

• Application Outlook (Volume, Million Cubic Meters; Revenue, USD Million; 2014 - 2025)

  • Residential

  • Commercial

  • Others

• Regional Outlook (Volume, Million Cubic Meters; Revenue, USD Million; 2014 - 2025)

  • North America

    •  U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • Italy

    • France

    • Austria

    • Rest of Europe

  • Asia Pacific

    • Japan

    • China

    • Australia

    • Rest of Asia Pacific

  • South & Central America

  • The Middle East and Africa