Glue-Laminated Timber Market 2023: Size, Share, Global Industry Overview, Analysis, Latest Insights And Forecast To 2028

The Glue laminated timber market is expected to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.

According to IMARC Group's latest report, titled“Glue-Laminated Timber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028′′, The global glue-laminated timber market size reached US$ 4.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.

Glue laminated timber refers to a type of engineered wood product. It is created by layering thin veneers of wood and bonding them together using high-strength adhesives. The result is a structural product that is strong, stable, and durable. It is generally used due to its versatility and environmentally friendly properties, as it is made from a renewable resource. It is often used as a substitute for solid wood in the production of beams, columns, and headers, as well as in flooring, decking, and furniture applications. It can span long distances and provide strong support, thus making it a popular choice in residential and commercial construction projects.

Glue-Laminated Timber Market Trends:

The increase in construction activities, along with the rising demand for building materials, including glue laminated timber, represents a significant factor driving the market growth across the globe. Moreover, the increasing focus on sustainability and growing awareness regarding wood as an eco-friendly building material is contributing to the market growth. In line with this, the growing preference for wood as a building material, due to its durability, excellent thermal performance, and lighter weight is further driving the growth of the market. Other factors, including improved manufacturing technology and government support and regulations encouraging the use of sustainable building materials, are expected to create a positive outlook for the market.

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Source: IMARC Services Private Limited