Global Glue Laminated Timber Market is estimated to be US$ 5.46 billion by 2030 with a CAGR of 5.30%

Abhi795413 Apr, 2022Business

Global Glue Laminated Timber Market accounted for US$ 3.27 billion in 2020 and is estimated to be US$ 5.46 billion by 2030 and is anticipated to register a CAGR of 5.30%. Due to the growth of wood as a low-cost and sustainable alternative to steel and concrete, demand for glue laminated lumber has skyrocketed recently. Due to its greater strength, ease of construction, and maintenance, glue laminated timber is expected to rise in popularity during the next eight years. The market is expected to profit from growing product popularity and knowledge of its benefits in places such as North America and Asia Pacific. Framing, floor and roof beams, columns, door headers, trusses, and many other applications can all benefit from glue laminated timber. The product's application base in construction is expected to expand across a variety of sectors, including residential, commercial, and industrial.