Glue Laminated Timber Market Size

Glue Laminated Timber Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The market for glued laminated timber is valued at about $ 8.69 billion in 2023, and is forecast to reach $ 12.0 billion by 2032, growing at a CAGR of 3.75% from 2024 to 2032. This trend reflects a steady increase in demand for wood-based products, which is driven by the increasing demand for sustainable building materials and the growing construction industry worldwide. As urbanization accelerates and green building practices gain popularity, glued laminated timber is increasingly recognized for its strength, versatility, and environmental benefits, which makes it a favorable alternative to traditional building materials. There are several factors driving the growth of the glued laminated timber market, such as the development of new adhesives that enhance the performance and longevity of glued laminated timber products. The growing demand for eco-friendly building solutions is also leading to an increase in R & D spending by key industry players. Structurlam, Binderholz, and Glulam are among the key players in the glued laminated timber market that have been actively pursuing strategic initiatives such as strategic alliances and product innovations. Recent collaborations to develop new glued laminated timber applications for commercial and residential buildings are a clear indication of the industry's commitment to meeting evolving consumer needs and sustainable goals.

Regional Market Size

Regional Deep Dive

The Glulam Market is experiencing a significant growth across the globe, owing to the increasing demand for sustainable building materials and the technological advancements in the construction industry. In North America, the market is characterized by the strong emphasis on eco-friendly building practices and the growing preference for the use of engineered wood products. In Europe, the regulatory framework promoting the use of wood in construction is very strong, while in Asia-Pacific, the rapid urbanization and development of the construction industry are driving the demand for glulam. The Middle East and Africa are slowly adopting glulam in their construction sector, while Latin America is beginning to explore the opportunities offered by glulam in its building and construction sector.

North America

• Through its LEED certification program, the US Green Building Council has encouraged the use of sustainable materials such as glued laminated timber, and has thereby created a demand for eco-friendly construction materials.
• The major producers of glued laminated timber, such as Boise Cascade and Weyerhaeuser, are investing in advanced manufacturing processes to improve the quality and performance of their products, thus expanding their market share.
• The use of wood in the building of houses and buildings is becoming more and more common.

Europe

• In the context of the European Union’s commitment to reduce greenhouse gas emissions, the construction industry is being given more support, and glulam is now the material of choice for sustainable building.
• Developments in fire-resistant glued laminated timber are being made by companies like Stora Enso, which are enhancing the safety and applicability of these materials in urban settings.
• Culture and customs, especially in the Scandinavian countries, are influencing the construction industry. People are looking for natural materials which are in harmony with their environment.

Asia-Pacific

• In countries such as China and India, where urbanization is rapidly advancing, there is a need for more and more high-rise buildings, and glue-laminated timber is gaining popularity as a building material because of its lightness and strength.
• The Japanese government has recently enacted a law encouraging the use of wood in building construction. This is expected to give a major boost to the market for glued laminated timber in the region.
• It has been a while since I’ve written. Glulam has been gaining in popularity in recent years, largely because of the efforts of architects such as Kengo Kuma, who have been experimenting with its use in large-span structures.

MEA

• VISION 2021, the national development plan of the United Arab Emirates, is based on sustainable development, which includes the use of eco-friendly materials in construction, especially in the projects for the World Expo in Dubai in 2020.
• In this respect, a number of local firms have teamed up with international companies to introduce the most advanced technology and ensure the quality and availability of products in the region.
• There is a growing awareness of the advantages of using wood, which is expected to boost market growth.

Latin America

• In Brazil, as a part of its policy of promoting sustainable forestry and reducing deforestation, there is a growing interest in the use of laminated timber.
• Local architects and builders are experimenting with the use of glue-laminated timber in public buildings, demonstrating its practicality and beauty.
• The new building regulations which are being formulated by the Government have a tendency to favour the use of wood in construction.

Did You Know?

“It is manufactured in lengths of 100 feet, and is therefore a material of great value for bridges and auditoriums.” — American Institute of Timber Construction

Segmental Market Size

The glued laminated timber (GLT) sector plays a key role in the construction and architectural markets, and is currently enjoying strong growth because of its versatility and strength. The use of sustainable building materials, since glulam is usually derived from fast-growing timber, is also a key factor. The growing need for lightweight, yet strong, construction materials is also driving demand. Also, regulatory policies that promote the use of sustainable building materials are strengthening the sector’s position.

The use of GLT in architecture is now at a mature stage. Examples such as the T3 tower in Minneapolis and the International House in Sydney are illustrative. The principal application areas are in commercial buildings, bridges and residential constructions, where aesthetics and structural integrity are paramount. The market is set to grow further, as the trend towards sustainable building and the requirements of governments to go green accelerate the process. Moreover, technological developments, such as the automation of the lamination process, are improving both production efficiency and product quality.

Future Outlook

From 2023 to 2032, the global market for glued laminated timber will grow at a CAGR of 3.75%. This growth is due to the increasing demand for sustainable building materials. Architects and builders are increasingly focusing on the sustainable and environmentally friendly building. Also, the use of glued laminated timber in the construction of houses and commercial buildings is expected to increase significantly due to the high strength-to-weight ratio and versatility of design. GLT will represent about 15% of the total wood market in 2032, up from about 10% in 2023, as more and more players recognize its benefits over other building materials.

Glued timber is a type of wood-based composite material. Glued wood is a bonded timber product. Government initiatives aimed at promoting sustainable building practices and reducing carbon footprints will also play an important role in shaping the market. Emerging trends, such as the integration of smart technology into timber construction and the growing popularity of prefabricated building systems, are expected to create new opportunities for market players. These trends will continue to evolve, and to take advantage of the expanding market potential, market players will need to remain flexible and responsive.