How regional mass timber markets can support decarbonization and help build local economies

By Jake Chidester
The World Economic Forum
November 15, 2024
Category: Wood, Paper & Green Building
Region: United States, US East

The global market for mass timber is expected to grow to $3.7 billion by 2032 from $1.5 billion in 2020, according to 2023 report. This growth is being driven by the US, Europe and Asia-Pacific building construction industries. Hyperlocal approaches to creating a mass timber industry are already taking shape around the world. …In North America, British Columbia and Ontario have created local mass timber action plans, while the US city of Boston has  also successfully catalyzed a local mass timber market through targeted accelerator programmes. And in Detroit, Michigan, real estate developer, Bedrock, has partnered with Michigan State University programme MassTimber@MSU, the United States Forest Service and other public, private and academic stakeholders to build the Great Lakes Open-Source Timber Innovation Collaborative. This will further develop mass timber research, manufacturing, fabrication, design and construction capacity in the Great Lakes region.

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