Cross-Laminated Timber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cross-Laminated Timber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cross-laminated timber market size reached 2,105,690 Cubic Metres in 2022. Looking forward, IMARC Group expects the market to reach 4,241,413 Cubic Metres by 2028, exhibiting a growth rate (CAGR) of 12.17% during 2023-2028.

Cross-laminated timber (CLT) is an engineered wood product that is rapidly gaining popularity across the globe as a sustainable alternative to concrete and steel construction in commercial and multi-residential applications. The system consists of multilayer panels made from solid wood boards stacked crosswise and glued together. The cross-laminated configuration improves rigidity, dimensional stability, and mechanical properties. Structurally, CLT offers performance comparable to concrete or steel, with panels suitable for use as walls, floors, roofs and other applications.

CLT panels are strong and stiff, which allows them to be used in a wide range of applications. The use of CLT panels has become a successful and popular method of construction in Europe since it was first introduced during the early 1990’s. It is currently used for all kinds of structures ranging from houses, barns, powerline towers, churches and bridges to high-rise apartment and office buildings, adding visibility and reputation to the system.

Global Cross Laminated Timber Industry Drivers:
The structures built with cross laminated timber require shorter period of construction time than traditional construction materials such as concrete and bricks. This is largely attributed to its light weight nature and easy and fast installation. Due to the faster construction time and cheaper built up costs, CLT offers a cheaper alternative over other popular construction material such as precast concrete to the building industry.
CLT can be used for an entire building or any combination of wall, floor/ceiling and roof applications. Its light weight and other characteristics make it highly adaptable to different types of projects, designs and site conditions like soft soils or tight proximity to neighbouring buildings. CLT elements can also be combined with other building materials which provides more flexibility in design, style and finish architecture. Moreover, any change in CLT can be made on site with simple tools.
Cross laminated timber since its inception has been largely confined to Europe. However, due to the increasing awareness about its advantages over other traditional construction material, architects and other stakeholders in the building industry in several markets such as China, Japan, United States, Canada, Australia, NewZealand, etc., are now considering cross laminated timber as a building material for their projects.
Cross laminated timber, over the years, has been mainly used as a building material in constructing low to mid rise buildings which mainly includes educational institutes and residential buildings. However, due to recent technical advancement, now structures up to 10 storeys can be built using cross laminated timber. Therefore, due to this technical advancement coupled with the aesthetic value that CLT adds to a structure, several construction companies are considering this product to build large commercial spaces.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cross-laminated timber market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application, product type, element type, raw material type, bonding method, panel layers, adhesive type, press type, storey class and application type.

Breakup by Application:

Residential
Educational Institutes
Government/Public Buildings
Commercial Spaces

Breakup by Product Type:

Custom CLT
Blank CLT

Breakup by Element Type:

Wall Panels
Flooring Panels
Roofing Slabs
Others

Breakup by Raw Material Type:

Spruce
Pine
Fir
Others

Breakup by Bonding Method:

Adhesively Bonded
Mechanically Fastened

Breakup by Panel Layers:

3-Ply
5-Ply
7-Ply
Others

Breakup by Adhesive Type:

PUR (Polyurethane)
PRF (Phenol Resorcinol Formaldehyde)
MUF (Melamine-Urea-Formaldehyde)
Others

Breakup by Press Type:

Hydraulic Press
Vacuum Press
Pneumatic Press
Others

Breakup by Storey Class:

Low-Rise Buildings (1-4 Storeys)
Mid-Rise Buildings (5-10 Storeys)
High-Rise Buildings (More than 10 Storeys)

Breakup by Application Type:

Structural Applications
Non-Structural Applications

Breakup by Region:

Europe
Austria
Germany
Italy
Switzerland
Czech Republic
Spain
Norway
Sweden
United Kingdom
North America
United States
Canada
Asia-Pacific
Australia
New Zealand
Japan
China
Taiwan

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Stora Enso, KLH, Binderholz, Mayr Melnhof, Hasslacher, XLam Limited, Sterling Lumber, Shilliger Holz AG, Eugen Decker Holzindustrie KG, Structurlam, SmartLam, Meiken Lamwood Corp.

This report provides a deep insight into the global cross-laminated timber market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a cross-laminated timber manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cross-laminated timber industry in any manner.

Key Questions Answered in This Report
1. What was the size of the global cross-laminated timber market in 2022?
2. What is the expected growth rate of the global cross-laminated timber market during 2023-2028?
3. What are the key factors driving the global cross-laminated timber market?
4. What can be the impact of COVID-19 on the global cross-laminated timber market?
5. What is the breakup of the global cross-laminated timber market based on the application?
6. What is the breakup of the global cross-laminated timber market based on the product type?
7. What is the breakup of the global cross-laminated timber market based on the element type?
8. What is the breakup of the global cross-laminated timber market based on the raw material type?
9. What is the breakup of the global cross-laminated timber market based on the bonding method?
10. What is the breakup of the global cross-laminated timber market based on the panel layers?
11. What is the breakup of the global cross-laminated timber market based on the adhesive type?
12. What is the breakup of the global cross-laminated timber market based on the press type?
13. What is the breakup of the global cross-laminated timber market based on the storey class?
14. What is the breakup of the global cross-laminated timber market based on the application type?
15. What are the key regions in the global cross-laminated timber market?
16. Who are the key players/companies in the global cross-laminated timber market?