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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Cross-Laminated Timber Market Share
Commercial Application To Gain Significance Due To Demand In Sustainable And Cost-Effective Building Solutions
The commercial segment is expected to have a quite dominant share in the cross-laminated timber market. It is also driven by increasing demands from commercial sectors of office buildings, retail spaces, and hospitality structures for more sustainable, attractive, and economical construction methods. In commercial applications, the adoption of CLT has been especially very appealing since it allows for faster construction time and lesser environmental impacts, thus making performance versus sustainability, not an either-or proposition. Ultimately, this leads to an increase in the cross-laminated timber industry revenue globally.
Mid-Rise Buildings (5-10 Storeys) To Use CLT On A Wide Scale For Structural Efficiency
As per cross-laminated timber industry analysis, the mid-rise buildings (5-10 storeys) segment is likely to drive tremendous growth. Such a segment reaps all the benefits from the combination of CLT's structural strength with lighter weight, hence being quite perfect for buildings that are taller than low-rise and less demanding than high-rises. Applications in the mid-rise balance cost with performance and sustainability, highlighting the benefits of using CLT in residential and commercial applications. It is this growing focus on urban density and sustainable development that further drives interest in mid-rise CLT construction.
Cross-Laminated Timber Market Report Snapshots
Cross-Laminated Timber Market Size
Cross Laminated Timber Market Growth
Cross Laminated Timber Market Trends
Cross Laminated Timber Market Share
Cross-Laminated Timber Market Analysis
Cross-Laminated Timber Companies
Cross Laminated Timber Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global cross-laminated timber market attained a value of nearly USD 1,574.10 million.
The cross-laminated timber market is projected to grow at a CAGR of 11.4% between 2023 and 2032.
By 2032, the market is projected to reach USD 4,142.33 million.
The major market drivers include rising population, increasing construction activities, and the flexibility offered by cross-laminated timber.
The rising awareness about the advantages of cross-laminated timber over other traditional construction materials and the growing focus on reducing construction time are the key trends fuelling the market growth.
The major regions in the cross-laminated timber market are North America, Europe, Japan, and Oceania, among the rest of the world.
The major applications of cross-laminated timber are residential, public, and commercial.
The leading product types in the market are custom CLT and blank CLT.
The significant element types in the market are wall panels, flooring panels, and roofing panels.
The major raw material types of the product include spruce, pine, and fir, among others.
The significant bonding methods of the product are adhesively bonded and mechanically fastened.
The major panel layers of the product are 3-Ply, 5-Ply, and 7-Ply, among others.
The several adhesive types considered in the market report are PUR (Polyurethane), PRF (Phenol Resorcinol Formaldehyde), and MUF (Melamine-Urea-Formaldehyde).
The significant press types of the product include hydraulic press, vacuum press, and pneumatic press, among others.
The significant storey classes of the product are low-rise buildings (1-4 storeys), mid-rise buildings (5-10 storeys), and high-rise buildings (more than 10 storeys).
The major end uses of the product include structural applications and non-structural applications.
The major players in the market are Stora Enso Group, Binderholz GmbH, Mayr Melnhof Holz Group, Schilliger Holz AG, KLH Massivholz GmbH, HASSLACHER Holding GmbH, Sterling Company, Structurlam Mass Timber Corporation, Nordic Structures, and Eugen Decker Holzindustrie KG, among others.
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