As the mitigation of climate change becomes critical, the public perception of wood as a sustainable building material that can facilitate the shift towards a bio-based economy is crucial to consider. This study aimed to explore the attitudes towards timber construction among young millennials in Austria, a cohort that in the coming years will increasingly occupy decision-making positions and gain purchasing power. A representative online survey (quota sample, n = 757) was conducted to explore the attitudes of 20 to 29-year-olds towards timber construction and the forest-based sector. In general, timber construction was described positively in comparison to other construction methods, in particular, it was considered aesthetically appealing and ecologically advantageous. Indecisiveness prevailed regarding the role of wood in climate change mitigation. The industry’s current approach to advertising does not attract much attention. Doubts were expressed about the sustainability of sourcing wood as a building material and certain physical characteristics for building were perceived as a disadvantage. Four distinct market segments were then identified by means of exploratory factor analysis and a cluster analysis using Timber Construction Affinity and Opinion Leadership Wood as categorization factors. Two segments are essential for future marketing measures: Passive Preservers showed the most negative view of the industry, its practices and its offerings, while Active Supporters were in favor of increased wood use and actively promoted timber constructions among peers. Subsequently, marketing implications were given to develop “preserving” into “supporting” clusters and to further involve Active Supporters in the communication of wood and timber construction related topics.