Glue Laminated Timber (Glulam) Market size is forecast to reach $8.7 billion by 2026, after growing at a CAGR of 5.8% during 2021-2026. Glue laminated timbers are ideal for residential and commercial uses. Glulam does not need to be mined and exposed to the high energy demand manufacturing procedures that steel and cement require; it has a flexibility of shape. Glulam beams are engineered wood products that are manufactured to meet specific performance criteria.
Glulam product consist of fire resistance material to prevent undesired fire, because of its big section, compared with light timber frame structures composed of small sectional dimension lumber and several kinds of plank. Glued laminated timber structure could also be called heavy wood-frame structure. Due to easy installation and reducing cost of transportation the demand of glue-laminated timber will be rapidly increased in near future.
All the new constructions were delayed due to COVID-19 and glulam’s exportation has stopped. The whole productions of glue laminated timber were affected in this lockdown, which stopped the use of glulam in residential and commercial sectors as these are used in green building material. Due to this, all investment towards green building was on hold and because of its big section, compared with light timber frame structures composed of small sectional dimension lumber and several kinds of plank, glued laminated timber structure could also be called heavy wood-frame structure.
Glue Laminated Timber Market Segment Analysis – By Application
Flooring & roofing sector has been the primary application for glue laminated timber market in 2020 followed by housing framing. Glue laminated timber is ideal for residential and commercial construction owning to which its demand is increasing for new infrastructure construction. Glue laminated timber has a good strength to weight ratio in comparison with other laminated timber, also it has excellent bearing capacity. Due to its high durability with excellent humidity and chlorine levels, glulam provides a durable low maintenance solution which has increased its demand in flooring & roofing, housing framing, and other constructional infrastructure.
Because of their high strength and dimensional stability, glulam is much better than solid wood, as solid wood beams have cracks but glulam beams remain stable for many years as well as retaining its aesthetic beauty. Consumer preference for wood-based construction (engineered wood) owing to its durability, high thermal performance, and light weight is expected to propel market growth over the forecast period.
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Glue Laminated Timber Market Segment Analysis – By End Use Industry
Building & construction dominates the glue laminated timber market in 2020 with 6% as glulam construction offers superior strength and stiffness over dimensional lumber, and pound-for-pound it is stronger than steel. Glue laminated timber is used for large curved or arching members to build vaulted roofs, domes, and even bridges. Wood based timber is highly durable and moisture resistant, capable of generating large pieces and unique shapes. It has ability to bear load hence it is used in green building material which increases the demand of glue laminated timber.
According to International Finance Corporation (IFC), in India green building sector in India is expected to generate a $1.4 trillion by 2030 in residential sector worth $1.25 trillion and commercial sector worth $ 228 billion. The world green building council estimates that green buildings could generate high returns in form of additional cost by 0.5 % to 12 % and operational costs up to 37%. Thus, the growth in green building construction is expected to influence the glue laminated timber market growth.
Glue Laminated Timber Market Segment Analysis – By Geography
Europe dominated the glue laminated timber market size in 2020 up to 30%, followed by North America and Asia Pacific. Consumers are aware about glue laminated timber in form of engineered wood product as a green building material. Glue laminated timber used as structural engineered wood products constituted by layers of dimensional lumber bonded together with durable, moisture-resistant structural adhesives in the region.
According to European Bank for Reconstruction and Development (EBRD) Green buildings represent a major global investment opportunity, with buildings making up the largest segment of the US$ 231 billion energy efficiency market. North America is anticipated to positively impact on this market because of the high scale usage of glulam in railway bridges, engineered wood for household forming, highways and pedestrian.
According to an International Union of Railways (IUR), in July 2017 almost 1,500 rail infrastructure projects were planned or under construction globally, totaling at least $2.1 trillion with an additional $80 billion set aside for current rolling-stock procurement. Asia Pacific is expected to grow at a significant CAGR during the forecast period, owing to the growing popularity of glue laminated timber as form of wood-based building materials in developing countries such as India, China, and Japan.
Glue Laminated Timber Market Drivers
Superior Properties of Glulam as Compared to other Structural Construction Materials
Glue laminated timber has no negative environmental effects. Glulam products have a natural place in an eco-cycle society. The engineered wood is renewable and recyclable, while its manufacture is largely based on bio-energy. Glulam beams are very efficient to produce. The energy required to produce a glue-laminated beam from the log is only a fraction of the energy required to produce steel or concrete. Glulam has superior earthquake resilience and greater resistance to fire than any other structural construction material. Hence, its superior structural performance coupled with flexibility in esthetic design will boost the demand for glulam laminated timbers.
Increasing Demand from Building & Construction Sector
Glue laminated timbers are versatile and innovative construction materials used widely in commercial as well as residential projects. According to the National Development and Reform Commission (NDRC) China approved 26 infrastructure projects with a total expected investment of 981.7 billion yuan (US$142 billion) in 2019. Many glulam timber structures have been constructed in China, including bridge, temple, gymnasium, exhibition gallery, museum and other public buildings.
China State Construction Technology Exploit Corporation Limited undertook the task to exploit the technology of glulam timber beam. The glued laminated heavy timber structure is a system using cross-section of a larger size laminated wood components to form the force system. Heavy laminated wood structure is mainly used in long-span and large space buildings, such as bridges, large public buildings, etc. Because of its excellent structural form and natural material, glulam timber structure is the key choice to construct green building materials.
Glue Laminated Timber Market Challenges
High Price of Glue Laminated Timber
Glue laminated timber can be easily folded so that it can be easily used anywhere in the roof structure. It is made from many timber layers, so they can be placed on different angles but the price of glulam timber is always higher than normal timber because the cost of production of this timber is high. Glue laminated timber is often chosen over steel or concrete for its appearance, and is often credited with creating a warm and comfortable feel to a building. However, the high price of glulam is expected to hamper the market growth.
Glue Laminated Timber Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the glue laminated timber market. Major players in the Glue Laminated Timber Market top 10 companies are Structurlam Products Ltd, Setra Group AB, Canfor, Schilliger Holz AG, Binderholz GmbH, Calvert Co., Inc., Meiken Lamwood Corp, Eugen Decker Holez Industrie Kg, and Pfeifer Holding GmbH.
In December 2019, Binderholz completed the construction of its new cross-laminated timber factory at the company’s site in Burgbernheim. It has significantly increased the annual production capacity of the timber giant.
In February 2019, the Canadian Canfor Corporation acquired a majority stake in the Swedish supplier of wood products Vida Group, with 70% shares. The Swedish group Vida is now majority-owned by the Canadian forest group Canfor Corporation.
Europe dominates the glue laminated timber market owing to increasing demand from residential and commercial sector of glulam with excellent fire resistant, versatility and adaptability features.
Due to increase adoption of sustainable and environment friendly products and consumption of engineered wood for buildings, the market for glue laminated timber is expected to rise in the near future.
Extensive use of glue laminated timber in the manufacture of a wide range of roof beams, floor beams, wood based residential buildings and structural applications, is influencing the market for glulam.
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