Cross Laminated Timber Market Size is estimated to grow at a CAGR of 13.8% during the forecast period

 

In 2022, the cross-laminated timber market was valued at USD 1.5 billion, and over the projection period, growth at a rate of 13.8% is anticipated. It is an incredibly adaptable and environmentally friendly building material composed of glued-together layers of wood piled in different directions. It has grown in popularity as a result of its durability, dependability, and environmental advantages. Building construction, residential building, educational and institutional building, as well as its use in cultural and recreational facilities, are some of its major applications. These are employed in the building of bridges. Significant market expansion is being driven by the growing demand for eco-friendly and green products. The industry is being driven largely by increasing awareness among people and rapid urbanization.

 

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Impact of Covid-19

The market slowed down as a result of COVID-19 because construction projects were delayed. The strict lockdown and physical separation caused supply chain interruptions, which in turn caused delays in all other sectors. As a result, the manufacturing, shipping, and storage of cross-laminated lumber as well as its raw materials Construction projects experienced delays as a result, and expenses went up. Building work slowed or came to a temporary stop in many areas due to lockdowns and social distancing measures.

 

Growth Drivers

Sustainability and Environmental Concerns

Because cross-laminated lumber is produced using renewable wood resources, it is regarded as a sustainable building material. Its demand has increased because to rising environmental awareness and an emphasis on lowering carbon footprints.

Cost-Effectiveness

Cross-laminated prefabrication is a desirable alternative for builders and developers since it cuts down on labor expenses and building time. Due to its affordability, CLT is seeing a sharp rise in demand.

Urbanization

People are choosing to live in urban or semi-urban locations due to the distant work culture that has emerged since the epidemic and the expansion of facilities in these areas. The market's need for cross-laminated timber is rising as a result of the building industry's explosive growth.

Segmentation

Type

·         Adhesive Bonded

o   Polyurethane

o   Melamine-Urea-Formaldehyde

·         Mechanically Fastened

o   Self Tapping Screws

o   Dowel Type Fasteners

End User

·         Structural

·         Non Structural

Industry

·         Residential

·         Non-Residential

o   Industrial

o   Public

o   Others

Distribution Channel

·         Direct Sales

·         Distributors

·         Online Platforms

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

 

Key Players

·         Stora Enso

·         XLam NZ Ltd.

·         Structurlam Mass Timber Corporation

·         Schilizer Holz AG

·         Hasslacher  Holding GmBH

·         BinderHolz GmbH

·         Mayer-Melnhof Holz

·         KLH Massivholz GmBH

·         Holz 100

·         Pfeifer Group

·         SmartLam

·         B&K Structures

·         Other Players

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                   

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