Cross Laminated Timber (CLT)

Cross Laminated Timber (CLT)

Global Cross Laminated Timber (CLT) Market to Reach US$3.8 Billion by 2030

The global market for Cross Laminated Timber (CLT) estimated at US$1.4 Billion in the year 2023, is expected to reach US$3.8 Billion by 2030, growing at a CAGR of 14.7% over the analysis period 2023-2030. Residential Application, one of the segments analyzed in the report, is expected to record a 15.7% CAGR and reach US$1.9 Billion by the end of the analysis period. Growth in the Institutional Application segment is estimated at 14.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$245.1 Million While China is Forecast to Grow at 17.6% CAGR

The Cross Laminated Timber (CLT) market in the U.S. is estimated at US$245.1 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$337.8 Million by the year 2030 trailing a CAGR of 17.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 15.3% and 14.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.2% CAGR.

Global Cross Laminated Timber (CLT) Market - Key Trends & Drivers Summarized

Cross Laminated Timber (CLT) is an innovative building material that has revolutionized the construction industry by offering a sustainable and versatile alternative to traditional materials such as steel and concrete. Developed in the early 1990s in Austria and Germany, CLT is made by gluing together layers of solid-sawn lumber, with each layer arranged perpendicular to the previous one. This crosswise arrangement enhances the structural integrity and dimensional stability of the panels, making them exceptionally strong and rigid. CLT panels are prefabricated in factories according to precise specifications, which allows for rapid on-site assembly and reduced construction times. The material is used in a wide range of applications, including residential, commercial, and institutional buildings, due to its strength, flexibility, and environmental benefits.

The manufacturing process of CLT involves selecting high-quality timber, which is then kiln-dried to the appropriate moisture content. The boards are planed and sorted before being laminated with adhesive under high pressure to form large panels. These panels can be up to several meters wide and long, and their thickness can vary depending on the number of layers used. The cross-laminated structure provides excellent load-bearing capacity and resistance to seismic forces, making CLT an ideal choice for constructing multi-story buildings. Additionally, CLT offers superior thermal insulation and acoustic performance, enhancing the comfort and energy efficiency of buildings. The use of CLT also contributes to sustainability, as it sequesters carbon dioxide and utilizes renewable wood resources, supporting the growing trend towards green building practices.

The growth in the Cross Laminated Timber market is driven by several factors, including increasing environmental awareness, advancements in building technologies, and supportive government policies. As the construction industry seeks to reduce its carbon footprint, CLT has emerged as a viable solution due to its low environmental impact and renewable nature. Technological advancements have improved the manufacturing efficiency and performance characteristics of CLT, making it more competitive with traditional building materials. Additionally, regulatory changes and building codes in many regions now recognize and support the use of mass timber in construction, encouraging wider adoption. The rising demand for sustainable and energy-efficient buildings, coupled with the material`s aesthetic appeal and design flexibility, is further propelling market growth. Moreover, the ongoing research and development efforts aimed at enhancing the fire resistance and durability of CLT are expanding its application range, ensuring continued market expansion in the coming years.

Select Competitors (Total 60 Featured) -

• Stora Enso Oyj
• Moelven Industrier ASA
• Holmen AB
• Ramboll Group A/S
• Lignotrend GmbH & Company KG
• Setra Group AB
• Binderholz GmbH
• Freres Lumber Co., Inc.
• HASSLACHER Holding GmbH (Hasslacher Norica Timber)
• Nordic Structures
• Mercer International Inc.
• Pfeifer Holding GmbH
• Segezha Group
• W. U. J. Derix GmbH & Co.
• Ledinek Engineering d.o.o.

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