Laminated timber market seen reaching $3.5 billion by 2031

Allied Market Research says the global laminated timber market is on track to nearly double from 2021 to 2031, driven by construction demand, sustainability benefits and wider use of engineered wood. Europe leads the market now, while North America is expected to grow fastest over the forecast period.

Why it matters: - Laminated timber is gaining share in construction because it combines strength, durability, versatility and light weight. - The market’s growth reflects broader demand for lower-carbon building materials that can be recycled or repurposed at the end of use. - The forecast points to a global market worth $3.5 billion by 2031, up from $1.6 billion in 2021.

What happened: - Allied Market Research published a report on the global laminated timber market on June 12, 2026. - The report covers the market by type and by end-use industry across the 2021-2031 period. - The market is projected to grow at a CAGR of 8.1% from 2022 to 2031. - Request PDF Brochure - Access the full summary report

The details: - Glue laminated timber, or glulam, held more than two-fifths of the market in 2021 and is expected to stay the largest segment through 2031. - Glulam beams and columns are widely used as load-bearing elements in commercial and residential construction. - Cross-laminated timber, or CLT, is expected to post the fastest growth at an 8.5% CAGR from 2022 to 2031. - CLT is being used more often as a primary building material for single-family homes, apartment buildings, schools and offices. - The non-residential segment accounted for more than half of the market in 2021 and is projected to remain the largest end-use category. - Non-residential construction uses laminated timber in commercial buildings, educational buildings, cultural and recreational buildings and bridges. - Non-residential demand is forecast to grow at an 8.2% CAGR from 2022 to 2031. - Europe held nearly three-fifths of global revenue in 2021 and is expected to stay the dominant region through 2031. - European projects often use prefabricated homes built off-site and assembled on-site, including CLT for walls, roofs and floors. - North America is expected to be the fastest-growing region, also at an 8.2% CAGR from 2022 to 2031. - In North America, laminated timber is used in commercial and institutional projects such as schools, offices and sports facilities.

Between the lines: - The report frames laminated timber as a beneficiary of both construction demand and sustainability preferences. - High CLT costs remain a restraint, even as renewable sourcing and reuse potential create new opportunities. - The regional split suggests Europe remains the most mature market, while North America has more room for expansion. - The competitive landscape includes Structurlam Mass Timber Corporation, Stora Enso, HASSLACHER Holding GmbH, Eugen Decker & WebMan, NORDIC STRUCTURES, Binderholz GmbH, Mayr-Melnhof Holz Holding AG, SmartLam, DRJ Wood Innovations and KLH Massivholz GmbH. - The report says these players are using product launches, collaborations, expansion, joint ventures and agreements to strengthen market share.

What's next: - Growth is likely to be driven by broader adoption of engineered wood in residential and non-residential projects. - CLT’s faster growth rate suggests more large-scale building use over the next several years. - Europe should remain the center of market value, while North America is positioned for faster percentage growth.