New York, NY, March 03, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Cross Laminated Timber Market Share, Size, Trends, Industry Analysis Report, By Type (Adhesive Bonded, Mechanically Fastened); By Industry; By End-Use; By Region; Segment Forecast, 2022 - 2030” in its research database.
“According to the latest research study, the global cross-laminated timber (CLT) market size & share is anticipated to be valued at approximately USD 1.11 Billion in 2021 and is projected to hit a revenue of around USD 3.72 Billion By 2030, at a CAGR of around 14.54% between 2022 and 2030.”
What is Cross Laminated Timber (CLT)? How Big is Cross Laminated Timber (CLT) Market Size & Share?
- Overview
Cross-laminated timber is an engineered wood panel consisting of at least three layers of solid-sawn lumber. CLT is quick and simple to install and has outstanding acoustic, fire, seismic, and thermal properties. It is also lightweight but highly robust. The manufacturing process of CLT includes selecting the lumber, removing flaws, cutting, applying adhesive, stacking the panels, and assembly pressing.
CLT can be used in place of concrete to make a building's walls, roof, floors, and ceilings. It can also be used for making cantilevered floors and balconies, load-bearing elevator shafts, and stairs. The increasing demand for cross-laminated timber from the residential sector and the adoption in flexible designs and stylish architecture are majorly driving the market growth. Various characteristics of cross-laminated timber involving durability, stability, design variety, lightweight, strength, enhanced insulation, and fire resistance are boosting the cross-laminated timber market demand.
Request Sample Copy of Cross Laminated Timber (CLT) Market Research Report @ https://www.polarismarketresearch.com/industry-analysis/cross-laminated-timber-market/request-for-sample
(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Highlights of The Report
- All-inclusive information on the product portfolios of the top players in the market.
- An in-depth assessment of the geographic and business segments of the market.
- Market segmentation on the basis of the type of product, application, and region.
- It offers a forward-looking perspective on the developing elements driving or controlling the business area’s development.
- The recent research and development projects performed by each key player.
- A thorough analysis of the market’s value chain and assess the effect of Porter’s five forces.
Some of the Top Market Players Are:
- B&K Structures
- Stora Enso
- Eugen Decker & WebMan
- Structurlam Mass Timber Corporation
- SmartLam NA
- & Others
For Additional Information on Key Players, Download a PDF Brochure: https://www.polarismarketresearch.com/industry-analysis/cross-laminated-timber-market/request-for-sample
Market Dynamics
Key Growth Driving Factors
- Growing building and construction sector to drive the market growth
The rising popularity of cross-laminated timber in countries like Europe and North America is expected to fuel the cross laminated timber market size. The use of mass timber and prefabricated wood structures is anticipated to lower costs for developers as well as encourage the generation of new jobs and economic growth. Over the past few years, the building and construction sector experienced tremendous growth which is accelerating the cross-laminated timber industry expansion. An increasing shift from cement concrete towards cross-laminated timber due to environmental concerns is expected to propel the market growth.
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Recent Trends Influencing the Market
Increasing shift from concrete-based to wood-based construction is boosting the industry's expansion
- The market is also benefiting from global government programmers that are encouraging the shift from concrete-based to wood-based construction. The rise in consumer awareness of the damage that the manufacture of bricks and concrete causes to the environment is pushing the demand for cross laminated timber.
- Furthermore, compared to other conventional building materials, the product provides greater design flexibility and installs more quickly. Thus the factor is expected to create growth opportunities for cross laminated timber market in developing nations like North America.
Cross Laminated Timber (CLT) Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2030 | USD 3.72 Billion |
| Market size value in 2022 | USD 1.26 Billion |
| Expected CAGR Growth | 14.54% from 2022 - 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 - 2030 |
| Top Market Players | Stora Enso, Pfeifer Group, HASSLACHER Holding GmbH, Mayr-Melnhof Holz, Binderholz GmbH |
| Segments Covered | By Wallet Type, Industry, End-User, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Segmental Analysis
- The adhesive-bonded CLT was dominating the market in 2021
Based on type, the adhesive-bonded CLT segment held the largest cross laminated timber market share in 2021 and is expected to continue to dominate the market during the predicted period. Due to the requirement of less machinery, the manufacturing process of CLT requires less cost as compared to mechanical fastened CLT. Preservative treatment of CLTs may adversely affect the adhesive bonding at a microscopic level and is predicted to weaken the connection, resulting in delamination.
- The residential segment witnessed the greatest revenue share
On the basis of industry segmentation, the residential category captured the highest revenue share in 2021 and is expected to retain its dominance throughout the foreseen period. The extensive usage of CLT in the construction of office buildings in North America and the Asia Pacific is fueling segment growth.
- By end-use, the nonstructural segment witnesses the fastest growth
Nonstructural category is growing at the fastest rate due to the increasing urban residential sector. CLT panels can be used in constructions for floor, wall, and roof applications that are both non-load bearing and load bearing. The materials were initially employed to construct low- and mid-rise buildings. However, in recent years they have become a preferred option for high-rise structures.
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Geographic Overview
- The demand in the Asia Pacific is projected to experience a significant growth
Based on geography, Europe accounted for more than 50% of revenue share in cross laminated timber market in 2021 and is anticipated to maintain this revenue share during the foreseen period. But, North America is also a highly competitive market because there are good green construction regulations there for the product. The rise in demand for CLT from the United States is fueling the cross laminated timber market growth in North America.
Moreover, the adoption of green building regulations by different governments around the Asia Pacific region is anticipated to accelerate market expansion. Also, the Asia Pacific market is expected to grow owing to the demand from countries like Australia, Japan, China, and India, where it will be used to build wood-based structures with improved seismic performance characteristics.
Browse the Detail Report “Cross Laminated Timber Market Share, Size, Trends, Industry Analysis Report, By Type (Adhesive Bonded, Mechanically Fastened); By Industry; By End-Use; By Region; Segment Forecast, 2022 - 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/cross-laminated-timber-market
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Recent Developments
- In 2022, With an investment of EUR 79 million, Stora Enso opened a new CLT production facility in the Czech Republic. The increased demand for affordable, environmentally friendly, and recyclable construction materials will be satisfied by the new location's greatly increased capacity for CLT production.
Important Questions Answered by Report
- What is the present size of the market?
- What are the names of key players working in the market?
- What are trending strategies utilized by market enterprises to expand their businesses?
- What are the key regions of the market?
- Which region of the market is expected to show promising expansion avenues in the assessment period?
- Which product type of the market is in high demand?
- What is the projected size of the market at the end of the forecast period?
- What are the opportunities and threats to which players are exposed in the market?
Polaris Market Research has segmented the cross laminated timber market report based on type, industry, end-user, and region:
By Type Outlook
- Adhesive Bonded CLT
- Mechanically Fastened CLT
By End-Use Outlook
- Structural
- Non-structural
By Industry Outlook
- Residential
- Commercial
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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