Timber frame is set to outperform other areas of construction this year, heralding a phase of rapid expansion, according to new independent market research.
Low carbon regulations continue to be a key factor in demand for timber frame, driven by both greater market share in housebuilding and an increase in non-residential projects in health and education.
Wood for Good and the Timber Trade Federation have welcomed the report by MTW Research, which shows that timber frame building is set to grow by 9% in 2012 and exceed £400m. The longer forecast is for sales to increase by 60% in volume and 80% in value by 2016.
Sales of timber frame, SIPs, and volumetric timber buildings increased by £30m in 2011 with much of the demand from share growth in housebuilding. However, patterns are likely to shift from mid-2012 as commercial construction regains ground.
MTV Research director Mark Waddy said: “Construction and its related industries are often hard hit during economic downturns, but our research shows that the timber industry is faring remarkably well. The challenge is to ensure that customers have a clear understanding of the benefits of building with timber, rather than being put off by the myths.”
While the report shows that the recession has also hit the timber frame market, 60% of manufacturers reported “good” or “excellent” credit ratings, and just 4% of suppliers were regarded as being at immediate risk of failure.
Wood for Good spokesperson David Hopkins said: “This report shows that the timber frame sector has a lot to look forward to. When coupled with faster construction times, less waste, reduced CO2 consumption and of course, lower costs, timber has a natural advantage.”
MTW based its report on financial data from 80% of the industry. For a copy click here
