Cross Laminated Timber Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

Cross Laminated Timber Market

The market value of the cross-laminated timber market was USD 1.5 billion in 2022, and a growth rate of 13.8% is expected during the forecast period. It is a versatile and sustainable building material made from layers of wood stacked in alternating directions and glued together. Due to its strength, stability, and environmental benefits, it has gained popularity. Some of its key applications are building construction, residential buildings, educational and institutional buildings, and its usage in cultural and recreational facilities. These are used in bridge construction. Rising demand for green and environmentally friendly materials is leading to significant market growth. Rapid urbanization and growing awareness among people are driving the market significantly.

Impact of Covid-19

COVID-19 brought a slowdown in the market because construction work was put on hold. Due to stringent lockdown and physical distancing, all other sectors also had to face slowdowns due to disruptions in the supply chain. Due to it, the production and transportation of cross-laminated timber and its raw materials This led to delays in construction projects and increased costs. Lockdowns and social distancing measures in many regions led to a slowdown or temporary halt in construction activity. This impacted the demand for CLT in various construction projects. Economic uncertainty caused by the pandemic led to postponed or canceled projects, particularly in the commercial and hospitality sectors, affecting the demand for CLT. The construction industry faced labor shortages due to restrictions and safety concerns, which further delayed projects. The rise of the remote work trend increased the demand for suburban and rural housing.

Growth Drivers

Sustainability and Environmental Concerns

Cross laminated timber market is considered a sustainable building material as it is made from renewable wood resources. Growing environmental awareness and a focus on reducing Carbon footprints have boosted its demand.

Cost-Effectiveness

Cross Laminated prefabrication do reduce construction time and labor costs, making it an attractive option for builders and developers. Being a cost effective option, CLT is significantly increasing in demand.

Urbanization

The remote work culture since the pandemic and increasing facilities in urban areas is inspiring people to make a residence in these urban or semi urban areas. This rapidly growing construction is increasing the demand for cross laminated timber in the market.

Speed of Construction

Cross laminated timbers panel  are manufactured off-site and these are quickly assembled on the construction site, reducing projects timeline. People being efficiency-personified are highly impressed with this quality of cross laminated timbers, which help in construction of homes.

Design Flexibility

Cross laminated timbers flexibility in design and ease of customization allows for innovative architectural solutions, attracting designers and architects. The design flexibility of CLT makes it more suitable to use.

Awareness of Education

As awareness of the benefits of CLT grows, more professionals and industries are considering it as a viable construction material. Rising awareness about literacy is developing a sense in people all across the globe to get settled in Urban Areas. They are trying to make their own residences is growing the CLT market rapidly.

Segmentation

Type

·         Adhesive Bonded

o   Polyurethane

o   Melamine-Urea-Formaldehyde

·         Mechanically Fastened

o   Self Tapping Screws

o   Dowel Type Fasteners

End User

·         Structural

·         Non Structural

Industry

·         Residential

·         Non-Residential

o   Industrial

o   Public

o   Others

Distribution Channel

·         Direct Sales

·         Distributors

·         Online Platforms

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Polyurethane is a common choice for CLT production. It is known for its strong bonding properties, durability, and resistance to moisture. CLT panels bonded with polyurethane adhesive are suitable for various applications, such as residential, commercial, and industrial construction. Melamine-urea formaldehyde adhesive is another option in CLT manufacturing. It offers good bonding strength and is often chosen for its cost-effectiveness. CLT panels with melamine-urea-Formaldehyde adhesive are used in projects where cost is of utmost importance and environmental concerns are least important.

Cross Laminated Timber Market End-User Segmentation

On the basis of end-user, the cross laminated timbers market is segmented into Structural and Non structural segment. The structural segment is projected to witness the highest growth rate during the forecast period. Commercial structures are the primary users of structural grade across the world. The design, flexibility, and thermal characteristics are the advantages of structural cross laminated market.

Regional Outlook

On the basis of the regions, the cross-laminated timber market is segmented into five regions: North America, South America, Asia Pacific, Europe, and the Middle East and Africa. Europe is the world’s largest manufacturer of cross-timber products. It is the leading segment due to the rapid development of construction in the residential sector. The rising awareness about the use and reusage of wooden products is driving the growth of the market significantly. These timbers are used by wood lovers basically to construct a single-family home. Europe is not densely populated like Asia. People are educated, and they are well aware of where to invest their money. Countries like Austria, Germany, and Switzerland are pioneers in cross-laminated technology. The CLT market has been growing steadily in North America, with the United States and Canada being the primary players. Increasing awareness of CLT's environmental benefits and sustainable construction practices has driven demand. It is commonly used in residential and educational buildings in this region. The Asia Pacific region, including countries like Japan, Australia, and New Zealand, is experiencing a growing interest in the CLT market. Rapid urbanization and innovation in architecture are driving CLT adoption.

Nordic countries like Sweden, Finland, Norway, and Denmark have strong timber resources and a rich tradition of wood construction. These countries are investing in CLT technology, and it is becoming increasingly popular in commercial and residential projects.

Key Players

·         Stora Enso

·         XLam NZ Ltd.

·         Structurlam Mass Timber Corporation

·         Schilizer Holz AG

·         Hasslacher  Holding GmBH

·         BinderHolz GmbH

·         Mayer-Melnhof Holz

·         KLH Massivholz GmBH

·         Holz 100

·         Pfeifer Group

·         SmartLam

·         B&K Structures

·         Other Players

Global Cross Laminated Timber Market research report presents a strategic analysis of the global Cross Laminated Timber Market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it.

This report delivers market size, regional and country market data, segmentation growth, market share, competitive landscape, company’s Cross Laminated Timber revenue analysis, strategies of domestic and global market players, opportunities analysis, strategic market growth analysis, and technological innovations. It analyses historical and current market data to accurately gauge its future growth potential. This market report provides in-depth analysis and insight of market drivers, challenges, trends & opportunities. At the same time, comprehensive coverage of major vendors (recent product development & industrial activities, company overview, insights on business strategy & financial performance, company SWOT analysis) is provided to give competitive overview. This study presents most detailed (COVID-19 updated) and in-depth analysis about the global Cross Laminated Timber market, covering all global regions and countries. The report provides intricate dynamics for each of the countries covered, offering unmatched value, accuracy and expert insights.

Report Purpose

The purpose of the report is to portray the state of the global Cross Laminated Timber Market and to present real and expert-verified data and insights about the market values, volumes, dynamics, segmentation and prices. It also offers forecast for the market development in the short and medium term and the impact COVID-19 has and will have on it. Further, it covers in-depth analysis of the key market players, industry trends and insights, growth drivers and challenges and all other factors, influencing the growth of market.

Scope of the Report

The report on the global Cross Laminated Timber Market presents:

·         Historical Data: Market data including volume, growth rate, value, and dynamics; Market segmentation (by product, by region and by country; etc.) for the last five years;

·         Strategic Insights for companies looking to launch new products to diversify their business, exploring leading countries to establish supply chain, and top countries to increase company export and go global

·         Comprehensive Regional Market Data: volume, growth rate, value, market share and dynamics of for the last five years (broken down by region);

·         Market Dynamics: Analysis of the factors impacting the market including demand drivers, industry trends and challenges and the short and the medium-term impact of COVID-19 presently and in near future;

·         Analysis and forecast for the global economy and demographics;

·         Supply chain and value chain analysis, risk analysis of supply side and demand side;

·         Market Forecast for next ten years (market share, year-on-year growth, volume, value and segmentation by region);

·         Company profiling of key market players covering company’s Cross Laminated Timber revenue, sales and market share;

·         Comprehensive coverage of competitive landscape offering market positioning and snapshot of key business strategies;

·         Porter’s Five Forces analysis;

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In this report you can:

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This report detailed and all-inclusive data on Cross Laminated Timber Market, providing valuable support to make vital decisions regarding:

·         Strategic planning;

·         Industry analysis;

·         Target Market/Marketing and sales;

·         Regional and country assessment and opportunity analysis;

·         Market entry into new product group or country;

·         Pricing of existing and new products;

·         New product development and Innovation in existing products;

·         Supply chain management;

·         Market evaluation;

·         Mergers, Expansions, Joint Ventures and acquisitions.

Who Is This Report for?

This report is intended to give broad overview of market to people who already are working on this market:

·         C-suite Level executives;

·         Directors;

·         Industry strategists;

·         Marketing professionals;

·         Business development professionals;

·         Product developers;

·         Product marketers and strategists;

·         Product managers;

·         Project managers;

·         Suppliers;

·         Traders;

This report also caters to people who are not involved in the market, representatives of investors, consultants, advisors and financial institutions:

·         Management consultants;

·         Investment managers;

·         Financial professionals;

·         M&A managers.

Regional Coverage

The report on the global Cross Laminated Timber Market breaks down the world into the following regions & countries and covers every single one of them:

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