Timber Construction Connectors Market Share, Trends, Size And Forecast Research Report To 2028

Posted on 2022-11-01 by researchinsights in Industrial // 0 Comments

Timber Construction Connectors Industry Overview

The global timber construction connectors market size was valued at USD 753.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.9% from 2021 to 2028.

The growing demand for wood-based constructions on account of the superior aesthetic appeal in the residential and commercial constructions is expected to drive the market. The suspension of construction activities in 2020 to curb the spread of the COVID-19 outburst has negatively impacted the wood construction activities, thus hampering the demand for connectors. Supply chain disruption and termination of trade activities across the globe emerged as the other key factors hampering market growth.

Gather more insights about the market drivers, restrains and growth of the Global Timber Construction Connectors Market

As per the reports by the U.S. Department of Agriculture, the demand for wood construction in the country is likely to double every two years till 2030, which is anticipated to offer growth prospects to the connectors market. Moreover, a rise in the demand for wooden construction, especially for residential and commercial construction projects, is anticipated to support the market growth.

The demand for timber construction is likely to increase in the upcoming years on account of a rise in the demand for sustainable constructions. Socio-ecological advantages of green constructions, along with the proliferation of Mass Engineered Timber (MET) products, are expected to increase the demand for timber construction in the coming years. Major benefits of timber construction include reduced Co2 emissions and carbon consumption and biophilic design.

Mass timbers, cross-laminated timber, wood panels, and other wood-based products are widely being accepted in construction projects, which is driving the demand for specialized connectors. Advancements in the production of fastening components have led to the introduction of durable connectors, including rings, plates, and rods, which can hold heavy wooden beams and panels firmly.

In Germany, the recent revision of the International Building Code (IBC) in 2021 has eased the construction approval process for wooden structures. Owners are now allowed the certificates to construct wooden premises up to 18 stories. Several economies across the globe, where timber production is abundant, are aiming to incorporate these new building codes for timber projects.

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