According to expert forecasts, the global laminated timber market (glulam) will grow by an average of 5.8% from 2024 to 2030 and will eventually reach $5.39 billion. Maximize Market Research analysts believe that the key drivers of such growth are the global development of interior design and construction solutions. The growing demand from the construction industry is especially noted.

The properties of laminated timber, such as high tensile strength, have driven the market growth. The material is gradually becoming an important aspect of interior design, with architects increasingly leaning towards it. It is also a sought-after material in the furniture industry, as manufacturers and consumers increasingly recognize its advantages over traditional materials. The strength and quality of laminated timber attracts the attention of builders, leading to the growth of this segment.

However, factors such as consumer awareness and availability of raw materials may hinder the market expansion. Warping, high cost and cracking of wood may also pose challenges to the development of the trend, experts say.

Maximize Market Research names Boise Cascade, Pfeifer Holz, Setra Group, Canfor Corporation, Calvert Company, Binderholz, Mayr-Melnhof Holz Holding and Schilliger Holz as key global players in the laminated timber market. The forecast was compiled based on an analysis of the global market, including North and South America, Europe, Asia-Pacific, the Middle East and Africa.