Glue Laminated Timber Market Expansion Projected to Gain an Uptick By 2025
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.
To Know More Information @ https://www.grandviewresearch.com/industry-analysis/glue-laminated-timber-market