Cross Laminated Timber Market By Layer type (3-ply, 5-ply, Other), By Structure type (Wall, Roof and floor, Other), By Application (Residential, Non-Residential): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Cross Laminated Timber Market was valued for $1,575.50 million in 2020 and is estimated to reach $3,735.90 million by 2032, exhibiting a CAGR of 8.4% from 2023 to 2032. Furthermore, in terms of volume, the global cross laminated timber market was valued at 75.03 million cubic feet in 2020, and is projected to reach 160.67 million cubic feet by 2032, registering a CAGR of 7.5% from 2023 to 2032.
Cross-laminated Timber (CLT) is a type of prefabricated engineering lumber that consists of layers of cross-stacked timber, joined by structural adhesives. The cross-laminated layers create a solid and stable construction material that can be used for various applications, including walls, floors, and roofs. It is widely said to be the alternative to steel and concrete for small-scale construction.
In the last few years, the demand for cross-laminated timber has increased substantially owing to it being a sustainable and versatile construction material. CLT offers higher strength and rigidity, providing impressive structural stability to buildings or other structures. CLT panels have a higher degree of fire-resistant properties, and they retain their structural integrity even when exposed to high temperatures for an extended period, making them a safer alternative to traditional timber construction. More importantly, CLT is a sustainable and environmentally friendly building material, which has a lower carbon footprint compared to conventional construction materials like concrete and steel. Such advantages of CLT make it an ideal construction material for low- and mid-rise residential and non-residential buildings, as well as detached and semi-detached houses.
However, the high initial cost of acquiring cross-laminated timber is a major restraint to the market growth. On the contrary, the adoption of automation in the production of cross-laminated timber is anticipated to provide lucrative opportunities for the growth of the cross laminated timber market.
Moreover, the price of oil & gas and the price of raw materials are experiencing increased volatility globally, due to a rise in inflation mainly driven by Ukraine–Russia war. This has led to slow-paced growth of the cross laminated timber market and its related industries.
The cross laminated timber market is segmented on the basis of layer type, structure type, application, and region. By layer type, the market is divided into 3-Ply, 5-Ply, and other. Depending upon the structure type, the market is categorized into wall, roof and floor, and others. On the basis of application, it is divided into residential and non-residential. Region-wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)
Competition Analysis
Key companies profiled in the cross laminated timber market report include Mayr-Melnhof Holz Holding AG, Mercer International Inc., SmartLam LLC, Stora Enso Oyj, KLH Massivholz GmbH, XLam Pty Ltd., SIPEUROPE s.r.o., Schilliger Holz AG, HESS TIMBER GmbH, and Binderholz GmbH & Co. KG. The major players that operate in the global market have adopted key strategies such as acquisition, expansion, product launch, and other strategies to strengthen their market outreach and sustain the stiff competition in the market.
Key benefits for stakeholders
The report provides an extensive analysis of the current and emerging cross laminated timber market trends, and historic data.
In-depth cross laminated timber market analysis is conducted by constructing market estimations for key market segments between 2020 and 2032.
Extensive analysis of the cross laminated timber market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The cross laminated timber market revenue and volume forecast analysis from 2023 to 2032 is included in the report.
The key players within the cross laminated timber market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the cross laminated timber industry.
Key Market SegmentsBy Layer type3-ply
5-ply
Other
By Structure typeWall
Roof and floor
Other
By ApplicationResidential
Non-Residential
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Binderholz GmbH & Co. KG
HESS TIMBER GmbH
KLH Massivholz GmbH
Mayr-Melnhof Holz Holding AG
Mercer International Inc.
Schilliger Holz AG
SIPEUROPE s.r.o.
SmartLam LLC
Stora Enso Oyj
XLam Pty Ltd.
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