Mass Timber Construction Market by Material Type (Bamboo, Birch, Cedar, Cherry, Mahogany, Oak, and Others), Construction Type (Type IVA, Type IVB, and Type IVC), Timber Type (Glue-laminated Timber (Glulam), Cross-laminated Timber (CLT), and Nail-Laminated Timber (NLT)), and End-user Industry (Residential and Commercial Buildings, Infrastructure, and Manufacturing): Global Opportunity Analysis and Industry Forecast, 2021–2030

COVID-19 Impact Analysis

• COVID-19 pandemic ceased the production of various products in the mass timber construction industry, which is attributed to the global lockdown. This has hampered the growth of mass timber construction market in the years 2020 and 2021, this trend is expected to continue in the first half of 2022 as well.
• The major demand for mass timber construction type was previously noticed from giant countries, including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for mass timber construction.
• Further, potential long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Mass timber construction contractors can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
• Mass timber construction contractors are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

Rise in concern over environmental degradation has forced many sectors to innovate and reinvent their old methods of operations. Hence, the construction sector is increasing its demand for sustainable and environmental friendly products such as mass timber, thereby increasing the demand for mass timber construction. Construction with mass timber is inexpensive, quick, and reliable. These features are anticipated to increase demand in the mass timber market. The availability of different kinds of wood used in preparing timber gives a variety of options to choose from. This availability of a wide range of options is anticipated to drive demand in the mass timber construction market. However, the insect infestation, water damage, and fungal attack on mass timber reduce its life. This is one of the restraining factors hindering the growth of the mass timber construction market. Contrarily, technological developments in mass timber construction design tools have enhanced the usability of mass timber in construction. This is expected to create lucrative opportunities for the mass timber construction market's growth during the forecast period.

Market Trends

• Similarly, many public and private entities are looking forward to making sustainable and creative buildings to suit their and environment needs. For instance, in Jan 2020, Brookfield Properties planned to build largest mass timber office building in North America as part of its 28-acre Pier 70 waterfront development in San Francisco.
• Moreover, business expansion strategies assist in enhancing the geographic footprint of the company and help in gaining significant market share for mobile crane products. For instance, in December 2019, Structurlam Mass Timber Corporation, the major mass timber manufacturer in North America, announced that it would expand its operations into the U.S., with a plant in Conway, Ark. The facility is expected to improve the service offerings for mass timber in the U.S.
• In addition, in August 2019, SmartLam announced its plans to expand its presence throughout North America. As of 2019, it operated in Montana and Alabama in the U.S., and planned to open three more plants by 2022, which would boost its annual cross-laminated timber (CLT) production capacity to more than 17.2 million cubic feet.  

Key Benefits of the Report

• This study presents the analytical depiction of the Mass Timber Construction industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, and opportunities, along with detailed analysis of the Mass Timber Construction market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the Mass Timber Construction market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed Mass Timber Construction market analysis based on competitive intensity and how the competition will take shape in coming years.