Cross Laminated Timber Industry Overview
The global cross laminated timber market size was estimated at USD 955.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.6% from 2021 to 2028.
Superior design flexibility and faster installation processes in comparison to other building materials are likely to benefit the market over the forecast period. The construction industry across the globe registered a steep decline due to the advent of COVID, with governments resorting to the suspension of all construction activities. This led to a sudden dip in the demand for cross laminated timber. However, the resumption of the construction activities during the later part of 2020 and 2021 led to industry growth.
Gather more insights about the market drivers, restrains and growth of the Global Cross Laminated Timber market
The market in the U.S. is expected to exhibit growth owing to the high demand from the end-user segment. Factors such as high disposable income, large market size, the ability of established players to mass-produce, and an extensive range of products are expected to boost the cross laminated timber market growth in the region.
The transition as a trend towards using environment-friendly products that have a minimum adverse impact, as per the VOC regulations of U.S. EPA, and green building initiatives are the major forces positively impacting the market. The growing awareness among the consumers pertaining to the benefits of Cross Laminated Timber (CLT) in the construction industry is projected to drive the market.
CLT-based buildings have become common in North America and European regions. The majority of the construction in these areas are now utilizing wood-based materials to improve the overall thermal performance and durability of the structure. Major construction companies across the globe are increasingly shifting toward cross laminated timber and other wood-based construction materials.
Browse through Grand View Research’s Green Building Materials Industry Research Reports.
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Cross Laminated Timber Market Segmentation
Grand View Research has segmented the global cross laminated timber market on the basis of product, application, and region:
- Cross Laminated Timber Product Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 – 2028)
- Adhesive Bonded Cross Laminated Timber
- Mechanically Fastened Cross Laminated Timber
- Cross Laminated Timber Application Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 – 2028)
- Cross Laminated Timber Regional Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central and South America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global Cross Laminated Timber market include
- Stora Enso Oyj
- Mayr-MelnhofHolz Holding AG
- Binderholz GmbH
- Sterling Company
- SchilligerHolz AG
- KLH Massivholz GmbH
- B&K Structures
- Eugen Decker &WebMan
- Structurlam Mass Timber Corporation
- SmartLam NA
- MEIKEN LAMWOOD Corp
Order a free sample PDF of the Cross Laminated Timber Market Intelligence Study, published by Grand View Research.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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