Figures released by MTW Research in the Timber Frame Housebuilding & Construction Market report indicate that while the sector was hit by the recession it doing well.
The report acknowledges that the timber frame market, was hit by the UK recession but says the sector is in reasonable financial health, with around 60 per cent of manufacturers having good or excellent credit ratings and just four per cent of suppliers currently regarded as being at immediate risk of failure.
Much of the demand came from timber gaining an increasing share of the house building market.
This year, MTW expects the timber frame market to grow by nine per cent and surpass £400 million in value. Beyond that, the research firm expects growth of around 60 per cent in volume and 80 per cent in value by 2016.