Info Setronica | December 20th, 2023
Delve into the evolving landscape of Mass Timber construction with our December 2024 market research. This web version provides a concise summary of key insights, highlighting trends, growth forecasts, and notable industry players. Download the full study using the link at the bottom.
According to Allied Market Research the global mass timber construction market was valued at $857.1 million in 2021, and is projected to reach $1.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 6% from 2022 to 2031.
According to Fact.MR the global timber frames market is set to enjoy a valuation of $487.3 Million in 2022 and further expand at a CAGR of 7.1% to reach $973.3 million by the end of 2032.
European Commission develops a comprehensive roadmap to reduce the whole-life carbon of the building sector by 2050.
Currently wood products are still only a less than 3% of market share of building materials in Europe that largely remain dominated by energy intensive and currently fossil fuel-based materials.
Europe aiming to reach 55% emission reduction by 2030. Greenhouse gas emissions and removals by forests and forest products will play a crucial role in reaching the ambitious net removal target for the Union of -310 million tonnes of carbon dioxide-equivalents, as set out in the proposal for a revised Regulation on Land Use, Land Use Change and Forestry.
Considering the above we can forecast outstanding growth potential for timber modular houses in Europe.
Cross-Laminated Timber (CLT) manufactured in North America must be certified to the ANSI/APA PRG 320 standard.
CLT manufactured in Europe must be certified to the EN 16351:2021, Eurocode 5, EI60, EI90, EI120 standards.
In 2019-2023, there were no significant merger and acquisition (M&A) activities in the timber market because of impact of the COVID-19 pandemic on demand.
|Modular Scalable Datacenter
|Campus in Silicon Valley made of CLT
Southland Log Homes
American Modular Systems
|Prefab wood buildings
|Daiwa House Industry
Asahi Kasei Corporation
|Timber construction frames
According to StraitsResearch the growing number of people living in cities in emerging markets like India, Japan, Indonesia, Nigeria, Mexico, and China is likely to increase spending on infrastructures like homes and businesses.
Modular construction is becoming more popular because it has many benefits, such as better structural stability, faster and better construction, more flexibility, less waste, and less need for labor.
The global modular construction market share is primarily divided into three regions, namely – North America, Europe, and Asia-Pacific.
Out of these three regions, the Asia-Pacific region is the most dominant and owes the major market share among the other regions.
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