The global cross-laminated timber market size reached US$ 1,586.5 million in 2023. The market is projected to reach US$ 3,715.8 million by 2032, exhibiting a growth rate (CAGR) of 9.6% during 2024-2032. The market is experiencing steady growth driven by the escalating shift towards green building practices, supported by government regulations and eco-friendly building standards, increasing environmental awareness among consumers, and the growing demand for sustainable construction materials.
2. What is the CLT market forecast?
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?
Cross-Laminated Timber Market Trends
Environmental benefits and sustainability
CLT is gaining traction primarily due to its environmental benefits. As a sustainable material, it significantly reduces the carbon footprint of construction projects. Unlike conventional building materials such as concrete and steel, CLT is produced from timber, a renewable resource. This aspect contributes to lower carbon emissions during the manufacturing process and enables the material to act as a carbon sink, effectively storing carbon dioxide absorbed by trees. Additionally, the increasing emphasis on green building practices and eco-friendly materials in global construction standards, including LEED and BREEAM certifications, is propelling the demand for CLT. This environmentally conscious shift is a critical factor propelling the market forward, as it aligns with global efforts to combat climate change and promote sustainability in construction.Advancements in building technology
The growth of the market is significantly influenced by advancements in building technology. CLT's compatibility with digital fabrication techniques, including CNC (Computer Numerical Control) machining, allows for high precision and customization in building components. This technological synergy enhances the efficiency of construction processes, enabling faster project completion times compared to traditional construction methods. Furthermore, CLT's structural properties, offering strength and durability comparable to steel and concrete, have expanded its applications in multi-story buildings. The integration of CLT in modern construction is being driven by innovations in engineering and design, fostering a new wave of architectural possibilities. These technological advancements improve the material's performance and broaden its appeal in diverse construction projects, from residential to commercial and public buildings.Regulatory support and standardization
The expansion of the market is further bolstered by increasing regulatory support and standardization. Governments and international building codes are progressively recognizing and incorporating CLT due to its sustainability and safety profile. Amendments in building codes, particularly in North America and Europe, to accommodate and encourage the use of CLT in construction projects, have played a pivotal role in market growth. This regulatory change is accompanied by the development of standards for CLT production and usage, ensuring quality and safety in its application. As these standards become more prevalent, they instill confidence in architects, engineers, and builders to adopt CLT in a wider range of projects. This regulatory landscape legitimizes the use of CLT and propels its growth by facilitating wider adoption and integration into mainstream construction practices.Cross-Laminated Timber Industry Segmentation:
The report provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. The 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
Residential accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the application. This includes residential, educational institutes, government/public buildings, and commercial spaces. According to the report, residential represented the largest segment.Breakup by Product Type:
- Custom CLT
- Blank CLT
Custom CLT holds the largest share in the industry
A detailed breakup and analysis of the cross-laminated timber market based on the product type has also been provided in the report. This includes custom CLT and blank CLT. According to the report, custom CLT accounted for the largest market share.Breakup by Element Type:
- Wall Panels
- Flooring Panels
- Roofing Slabs
- Others
Wall Panels represents the leading market segment
The report has provided a detailed breakup and analysis of the market based on the element type. This includes wall panels, flooring panels, roofing slabs, and others. According to the report, wall panels accounted for the largest market share.Breakup by Raw Material Type:
- Spruce
- Pine
- Fir
- Others
Spruce exhibits a clear dominance in the market
A detailed breakup and analysis of the cross-laminated timber market based on the raw material type has also been provided in the report. This includes spruce, pine, fir, and others. According to the report, spruce accounted for the largest market share.Breakup by Bonding Method:
- Adhesively Bonded
- Mechanically Fastened
Adhesively bonded dominates the market
A detailed breakup and analysis of the cross-laminated timber market based on the bonding method has also been provided in the report. This includes adhesively bonded and mechanically fastened. According to the report, adhesively bonded accounted for the largest market share.Breakup by Panel Layers:
- 3-Ply
- 5-Ply
- 7-Ply
- Others
- 3-Ply is the predominant market segment
Breakup by Adhesive Type:
- PUR (Polyurethane)
- PRF (Phenol Resorcinol Formaldehyde)
- MUF (Melamine-Urea-Formaldehyde)
- Others
PUR (Polyurethane) accounts for the majority of the market share
The report has provided a detailed breakup and analysis of the market based on the adhesive type. This includes PUR (polyurethane), PRF (phenol resorcinol formaldehyde), MUF (melamine-urea-formaldehyde), and others. According to the report, PUR accounted for the largest market share.Breakup by Press Type:
- Hydraulic Press
- Vacuum Press
- Pneumatic Press
- Others
Hydraulic Press holds the largest share in the industry
A detailed breakup and analysis of the cross-laminated timber market based on the press type has also been provided in the report. This includes hydraulic press, vacuum press, pneumatic press, and others. According to the report, hydraulic press accounted for the largest market share.Breakup by Storey Class:
- Low-Rise Buildings (1-4 Storeys)
- Mid-Rise Buildings (5-10 Storeys)
- High-Rise Buildings (More than 10 Storeys)
Low-rise buildings (1-4 storeys) represent the leading market segment
A detailed breakup and analysis of the cross-laminated timber market based on the storey class has also been provided in the report. This includes low-rise buildings (1-4 Storeys), mid-rise buildings (5-10 Storeys), and high-rise buildings (more than 10 Storeys). According to the report, low-rise buildings accounted for the largest market share.Breakup by Application Type:
- Structural Applications
- Non-Structural Applications
Structural Applications exhibits a clear dominance in the market
A detailed breakup and analysis of the cross-laminated timber market based on the application type has also been provided in the report. This includes structural applications and non-structural applications. According to the report, structural accounted for the largest market share.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
- Taiwanz
Europe leads the market, accounting for the largest cross-laminated timber market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include Europe (Austria, Germany, Italy, Switzerland, Czech Republic, Spain, Norway); North America (the United States, Canada); Asia-Pacific (Australia, New Zealand, Japan, China, Taiwan). According to the report, Europe accounted for the largest market share.Competitive Analysis
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:- Stora Enso
- KLH
- Binderholz
- Mayr Melnhof
- Hasslacher
- XLam Limited
- Sterling Lumber
- Shilliger Holz AG
- Eugen Decker Holzindustrie KG
- Structurlam
- SmartLam
- Meiken Lamwood Corp.
Key Questions Answered in This Report
1. How big is the cross laminated timber market?2. What is the CLT market forecast?
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?
Table of Contents
1 Preface3 Executive Summary18 Global Cross Laminated Timber Industry: Environmental Impact/Benefit Analysis19 Global Cross Laminated Timber Industry: Financial Impact/Benefit Analysis22 Loans and Financial Assistance
2 Scope and Methodology
4 Introduction
5 Global Cross Laminated Timber Industry
6 Performance of Key Regions
7 Market by Application
8 Market by Product Type
9 Market by Element Type
10 Market by Raw Material Type
11 Market by Bonding Method
12 Market by Panel Layers
13 Market by Adhesive Type
14 Market by Press Type
15 Market by Storey Class
16 Market by Application Type
17 Competitive Landscape
20 Cross Laminated Timber Manufacturing Process
21 Project Details, Requirements and Costs Involved
23 Project Economics
24 Key Player Profiles
List of Figures
List of Tables
Companies Mentioned
- Stora Enso
- KLH
- Binderholz
- Mayr Melnhof
- Hasslacher
- XLam Limited
- Sterling Lumber
- Shilliger Holz AG
- Eugen Decker Holzindustrie KG
- Structurlam
- SmartLam
- Meiken Lamwood Corp.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | January 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 1.59 Billion |
| Forecasted Market Value ( USD | $ 3.72 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
