Kate Fairhead
Head of Mass Timber, Construction, Marsh Specialty, United Kingdom
The global construction market is experiencing significant growth in demand for mass timber products and solutions, with the market set to reach US$1.5 billion by 2031 — up 75% from US$857.1 million of expenditure in 2021, according to Allied Market Research. Our UK clients are a part of this trend, with a healthy pipeline of exciting mass timber projects expected to be built in the upcoming years.
This growth is being fuelled by several drivers, including commitments to meet sustainability and net-zero carbon targets; material-linked benefits such as improved health and safety; reduced construction project timescales; and increased efficiencies in site management.
The procurement of insurance for mass timber projects is still a challenge for our clients around the world. We are pleased to see that the situation is improving, with various initiatives completed or underway to help this process — for example, the Marsh-funded publication of the Mass Timber Insurance Playbook by The Alliance for Sustainable Building Products in the UK. To further explore the procurement challenge, Marsh is hosting a new podcast series – The Rise of Mass Timber.
Our podcast will delve into the perspectives of all key stakeholders, outlining the drivers and concerns of both the construction and insurance industries and how to support better collaboration going forward.
In our first podcast, Kate Fairhead, Head of Mass Timber for Marsh Specialty Construction, meets Dr Mila Duncheva, Business Development Manager UK & Ireland at Stora Enso, to kick off our series with the question: What is Mass Timber?
Check out this episode charting the rise of mass timber and learn more about the different typologies of engineered timber, the manufacturing process, and growth management strategies.
Dr Mila also shares insights into the production and composition of mass timber while dispelling supply chain myths concerning forestry and biodiversity. The pair also touch on the technological advancements that enhance the quality of mass timber projects and provide successful case studies of both commercial and residential builds.
For more on this topic, listen to Stora Enso’s Renewable Future podcast episode Europe's forests are getting bigger - here's why.
Stay tuned for the next episode, where we explore why developers are choosing mass timber over traditional materials, before moving on to the insurance challenges and opportunities later in the series.
Head of Mass Timber, Construction, Marsh Specialty, United Kingdom