Pune, India, Nov. 16, 2021 (GLOBE NEWSWIRE) -- According to a report published by Fortune Business Insights™, the global cross-laminated timber market was worth USD 756.9 million in 2019 and expected to reach USD 2062.2 million By 2027 a CAGR of 13.7% during the forecast period, 2020-2027.
Cross-laminated timber is a type of engineered wood that is used in applications that require products with higher load handling capabilities. The product is engineered with three layers of solid-sawn wood that are bound together with an adhesive or mechanical pressure. This is mainly done to increase the rigidity of the product and is used in heavy-weight applications. The product was initially developed in the Alpine countries of Europe and is gaining rapid popularity in North America as well as the Asia Pacific.
The increasing investment in the development of efficient products, driven by increasing applications of the product across diverse industries, will have a positive impact on the growth of the market in the coming years. The favorable properties of cross-laminated timber such as good acoustic and thermal insulation will fuel the demand for the product across the world.
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List of companies profiled in the cross laminated timber market report:
- Stora Enso (Finland)
- Mayr Melnhof Holz Holding AG (Austria)
- Binderholz GmbH (Austria)
- Xlam Ltd. (Australia & New Zealand)
- Sterling Company (USA)
- Schilliger Holz AG (Switzerland)
- KLH Massivholz GmbH (Austria)
- B&K Structures (UK)
- Eugen Decker Holzindustrie KG (Germany)
- Structurlam Mass Timber Corporation (Canada)
- Smartlam NA (USA)
- APA - The Engineered Wood Association (USA)
- Katerra (USA & India)
- IB EWP Inc. (Canada)
- Nordic Structures (Canada)
- StructureCraft Builders Inc. (Canada)
- DRJ Wood Innovations (USA)
- PFS Corporation (USA)
- Other Key Players
Increasing Efforts taken to Maximize the Production of CLT Will Aid Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. It highlights a few of the key strategies adopted by major companies and discusses their impact on the overall market. Due to the increasing demand for CLT across the world, several large scale companies are looking to increase the production capacity of this material through the integration of advanced technologies.
In December 2019, Structurlam Mass Timber Corporation announced that it has expanded its operations in the United States. The company announced that it has begun the construction of its new manufacturing plant in Conway, Arkansus. The company claims that this plant will improve its production capacity and will open by the end of 2021. The company stated that it has invested around USD 90 million in the manufacturing plant with a view to addressing the massive product demand in the southern, eastern, and central parts of the United States.
Browse Detailed Research Insights with Table of Content:
https://www.fortunebusinessinsights.com/cross-laminated-timber-clt-market-102884
Europe Accounted for the Highest Share; Increasing Construction Activities Will Provide Impetus to Market Growth
The cross laminated timber industry report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Europe is projected to emerge as the dominant region in the coming years. The increasing construction activities will lead to a wider product adoption, subsequently creating several growth opportunities for the companies operating in the market. Driven by the massive demand for the product, the market in Europe accounts for around 65% of the overall market share. As of 2019, the market in Europe was worth USD 466.48 million and this value is projected to increase further in the coming years. The cross laminated timber market in North America will witness considerable growth owing to the huge adoption of locally manufactured CLT.
Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Cross Laminated Timber Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Bonding Technology
- Adhesive Bonded
- Mechanically Fastened
- Market Analysis, Insights and Forecast – By Application
- Residential Buildings
- Non-Residential Buildings
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of World
TOC Continued…!
Key Industry Developments:
August 2019: Binderholz GmbH announced that it has expanded its cross-laminated timber production capacity by integrating a new, digitized, and fully automated plant at Burgbernheim, Germany.
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