significant growth in the coming years, driven by increasing environmental awareness, demand for cost-effective construction solutions, and rapid urbanization

WILMINGTON, DE, UNITED STATES, January 13, 2025 /EINPresswire.com/ -- Allied Market Research recently published an insightful report titled, "Mass Timber Construction Market by Construction Type (1-8 Stories and Above 8 Stories), Timber Type (Glue-Laminated Timber (GLT), Cross-Laminated Timber (CLT), Nail-Laminated Timber (NLT) and Others), and End-user Industry (Residential Construction, Commercial Construction, and Industrial Construction): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global mass timber construction market generated $857.1 million in 2021 and is projected to reach $1,542.2 million by 2031, growing at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2031.

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𝐊𝐞𝐲 𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

The mass timber construction market has witnessed significant growth due to increased awareness of the environmental impact of steel and concrete construction, which have a high carbon footprint. Mass timber offers a sustainable alternative, reducing greenhouse gas emissions. Additionally, demand for cost-effective and durable construction materials has driven the preference for mass timber. However, the market faces challenges such as high installation costs and the potential for decay, which restrain growth. Despite these barriers, rapid urbanization and industrialization in emerging economies, particularly in countries like India and China, present substantial opportunities for market expansion.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

Report Coverage

Forecast Period: 2022–2031

Base Year: 2021

Market Size in 2021: $857.1 million

Projected Market Size in 2031: $1,542.2 million

CAGR: 6.0%

Segments Covered: Construction Type, Timber Type, End-user Industry, and Region

Drivers of Growth

Increased preference for timber over conventional materials.

Growing demand for restoration and remodeling of old buildings.

Rising interest in luxury residential construction.

Opportunities

Accelerating urbanization and industrialization in developing regions.

Restraints

High roofing installation costs.

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The COVID-19 pandemic negatively impacted the mass timber construction market. Lockdowns and restrictions resulted in a significant slowdown in construction activities worldwide. Additionally, the temporary shutdown of manufacturing units further hampered production. Despite these setbacks, the industry witnessed a recovery as construction activities resumed in developing regions, driving renewed demand for mass timber products.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

𝐁𝐲 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐓𝐲𝐩𝐞

The 1-8 stories segment held the largest share in 2021, contributing nearly two-thirds of the total market revenue. This dominance is attributed to the cost-saving benefits offered by lightweight materials, making mass timber an appealing option for mid-rise buildings. The segment is expected to maintain its lead during the forecast period. However, the above 8 stories segment is projected to grow at the highest CAGR of 7.5% from 2022 to 2031, driven by the increasing number of high-rise buildings and skyscrapers in both developed and developing countries.

𝐁𝐲 𝐓𝐢𝐦𝐛𝐞𝐫 𝐓𝐲𝐩𝐞

Cross-laminated timber (CLT) dominated the market in 2021, accounting for nearly 40% of the global revenue. CLT is extensively used in various structures, including houses, bridges, office buildings, and high-rise apartments, owing to its versatility and strength. This segment is expected to retain its leading position throughout the forecast period. Meanwhile, the nail-laminated timber (NLT) segment is anticipated to register the highest CAGR of 8.3%, thanks to its fire-resistant properties and cost-competitive advantages compared to CLT.

𝐁𝐲 𝐄𝐧𝐝-𝐮𝐬𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

In terms of application, residential construction emerged as the largest segment in 2021, representing more than half of the market revenue. The strong demand for mass timber in residential projects, especially for single-family and multi-family housing units, is a key driver. Glulam and I-beams are widely used in residential buildings due to their ability to span long distances without intermediate supports. Despite the dominance of residential construction, the commercial construction segment is projected to witness the highest CAGR of 8.1% during the forecast period, driven by increased construction of low-rise non-residential buildings and multi-story structures in North America and Europe.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

Europe led the global mass timber construction market in 2021, contributing over 50% of the total revenue. The region's dominance can be attributed to government initiatives promoting sustainable construction and increased adoption of eco-friendly building materials. With a focus on reducing carbon emissions, Europe continues to be a key player in the mass timber market. However, the LAMEA (Latin America, Middle East, and Africa) region is expected to experience the fastest growth, with a projected CAGR of 18.6% from 2022 to 2031. The surge in construction activities, coupled with growing industrialization and sustainability initiatives, is driving the demand for mass timber in these regions.

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𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Several prominent players are driving innovation and competition in the mass timber construction market. Key companies include:

Canadian Timberframes Ltd.

Hearthstone Homes

Hochstetler Milling Ltd.

Honest Abe Log Homes, Inc.

Lancaster County Timber Frames Inc.

Mill Creek Post & Beam Company

American Post & Beam

British Columbia Timberframe Company

Blue Ridge Timberwrights

Davis Frame Co.

David Correa
Allied Market Research
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