Australia Glue Laminated Timber Market size is projected to grow at a CAGR of 6.7% during 2024–2030F

Based on end use, the residential sector attained the highest revenue share in Australia Glue Laminated Timber Market – 6Wresearch

By type, the residential sector dominated the glue laminated timber market owing to increasing preference for sustainable building materials along with government aims to constructing between 240,000 to 248,000 new homes annually, are contributing to market demand.

According to 6Wresearch, Australia GlueLaminated Timber Market size is projected to grow at a CAGR of 6.7% during 2024–2030F. As of January 2019, Australia's construction sector was a significant contributor to the nation's greenhouse gas emissions and non-biodegradable waste, accounting for over 25%. With Australia's ambitious goal of becoming a zero-emissions country by 2030, the government is actively seeking ways to mitigate carbon footprints while accommodating population growth and maintaining existing infrastructure.

One of the avenues toward achieving these goals is through the increased utilization of low-carbon construction materials, such as wood products. Studies suggest that embracing these materials could play a pivotal role in Australia's journey towards achieving net-zero emissions by 2050. Additionally, regulatory incentives and government initiatives, like the Australian Government's commitment at COP28 in Dubai, to boost the utilization of timber in buildings by 2030, serve as catalysts for market expansion, particularly in the realm of glue laminated timber (glulam), as a sustainable and versatile building material.

The projected shortage in timber framing production in Australia, as highlighted by Master Builders Australia (MBA) and the Australian Forest Products Association (AFPA) concluding there would be 2,50,000 house frames short by 2035 poses several challenges restraining the growth of the glue laminated timber (glulam) market.

According to Abhishek Raj, Senior Research Analyst, 6Wresearch, the structural glue-laminated timbers category is anticipated to rise more in the future due to its wide range of structural applications and suitability.

Australia Glue Laminated Timber Market (2024-2030) report provides an in-depth analysis with 13 figures and 8 tables, covered in 66 pages. The report comprehensively covers the market by type, application and end use. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.