Recent changes in the International Building Code (IBC) for the U.S. now allows for timber construction projects up to 18 stories. In Canada, the change in the IBC now allows for timber construction projects that can reach 12 stories. If two of the world’s largest construction markets are making these changes, it certainly will not be long before other countries jump on the band wagon. Due to its adaptability timber is quickly becoming a major component of the prefabricated construction industry. With modular and prefabricated construction growing in popularity, experts anticipate this market will be worth $157 billion by 2023. Timber has always been a pivotal part of construction, with its popularity waxing and waning as new techniques and materials hit the market. With things like sustainability and biophilic design at the forefront of everyone’s mind, this natural material and others will continue to accelerate for years to come.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Why you will see timber trending in the coming years?