In recent years, the construction industry has experienced a rapid surge in the adoption of mass timber construction. Not only is timber construction a sustainable material, but it also boasts a proven track record of profitability within the construction industry. The fact is supported by an article from Research Nester which states that the cross laminated timber market size is anticipated to expand at a CAGR of 14% from 2024 to 2036. By the end of 2036, the market is expected to reach a revenue of USD 7 billion, a substantial increase from USD 2 billion in 2023.

The Australian government launched a USD 300 million program, the Timber Building Program, to promote mass timber construction in the property sector. In 2023, Hines completed T3 Collingwood in Melbourne, Australia, a pioneering 15-level commercial office building made from mass timber, costing USD 200 million. The Clean Energy Finance Corporation (CEFC) notably invested USD 70 million in T3 Collingwood, marking the start of the Timber Building Program and indicating a promising future for mass timber constructions in Australia.
Timberlink will pioneer Australia’s mass timber market with a new CLT and GLT facility slated for completion in 2023. With the global CLT market projected to hit USD 1.6 billion by 2024, growing at 15% annually from 2018, Timberlink’s strategic venture places it at the forefront of this building revolution. Additionally, Built Pty. Ltd and Obayashi Corporation are constructing Atlassian Central, a 39-story office tower in Sydney, combining steel and timber elements. This USD 1.04 billion project is set to become the world’s tallest hybrid timber and steel building, pushing boundaries in sustainable construction. It is essential to adopt mass timber construction promptly to remain competitive amid increasing investment in this sector.

The Mass Timber Construction Summit, a flagship event by Trueventus, features presentations from leading industry experts on the latest techniques and technologies in timber construction. Gain firsthand insights and experience on the latest innovations and opportunities in modern construction methods to streamline workflows, improve productivity, generate ample profit, and take advantage of the excellent networking opportunities throughout the summit.