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Glue Laminated Timber Market

Glue Laminated Timber Market - Global Industry Analysis, Size, Share, Trends, Growth, and Forecasts, 2021-2031

Glue Laminated Timber Market – Overview

The global glue laminated timber market is anticipated to expand at a favorable rate from 2021 to 2031 (forecast period). The expansion of the building and construction industry in emerging nations is projected to boost the glue laminated timber market. In accordance with this, the great levels of engineering efficiency, design flexibility, improved structural performance, and aesthetic designs are expected to be significant factors influencing the glue laminated timber market growth. Additionally, the growing popularity of wood-based construction owing to its durability, lightweight, and high thermal performance is projected to propel the glue laminated timber market.

Furthermore, the rise in the number of homes built using glue laminated timber and the increase in the usage of glue laminated timber in the manufacturing industry are projected to provide a number of growth prospects for the glue laminated timber market during the forecast period.

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Glue Laminated Timber Market – Competitive Landscape

Key players in the global glue laminated timber market include Pfeifer Holz GmbH, Boise Cascade Co., Calvert Company, Inc., Canfor Corporation, and Setra Group AB.

Manufacturers of glue laminated timber strive to prioritize technological breakthroughs in the product. Together with competitive pricing, such developments are projected to aid them in creating a competitive advantage throughout the projected period. Companies are investing extensively in research and development to solve the challenges associated with utilizing glue laminated timber and improving product quality.

Glue Laminated Timber Market – Trends and Opportunities

Growing environmental concerns around the world and rising consumer awareness of wood as a construction material are important factors expected to drive the global glue laminated timber market in the future years. Moreover, consumer demand for wood-based structures due to their sturdiness, excellent thermal performance, and low weight is likely to boost market expansion over the projection period.

The growth of wood as a low-cost and environmental substitute to concrete and steel has resulted in a massive increase in demand for glue laminated timber. The increasing adoption of glue laminated timber, due to its sturdiness, ease of construction, and maintenance, is likely to fuel the global glue laminated timber market growth over the forecast period. Moreover, the widespread demand for the product and awareness of its advantages in places such as the Asia Pacific and North America is expected to positively impact the global glue laminated timber market.

Glue laminated timber can be used for columns, framing, door headers, roof and floor beams, trusses, and a variety of other applications. The product's increasing application base in construction across different commercial, residential, and industrial sectors is expected to boost the global glue laminated timber market over the forecast period.

Key characteristics of glue laminated timber, such as durability, consistency, and chemical resistance, are expected to drive global glue laminated timber market expansion. Furthermore, since it is environmentally beneficial, glue laminated timber has captured the interest of regulatory agencies all over the world as a green building material. Major industry players are continuously pushing for technological breakthroughs in order to provide high-quality products with more efficiency.

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Glue Laminated Timber Market – Regional Landscape

The glue laminated timber market in Europe is projected to grow due to the widespread acceptance and increasing usage of wood as a building material. Germany and Italy are expected to contribute significantly to the regional market. Austria produces the most glue laminated timber in the world, owing to its abundant supply of softwood spruce and pine.

The Asia Pacific glue laminated timber market is anticipated to witness considerable growth during the forecast period. The rising consumer demand for attractive and luxurious apartments is expected to benefit the regional market. Moreover, the rising inclination of manufacturers to relocate production plants to Australia and China is also projected to increase its output. Furthermore, the rising demand for glue laminated timber in Japan and other Asian nations is expected to drive the glue laminated timber market over the forecast period.

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