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Cross Laminated Timber (CLT) - Global Strategic Business Report

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    Report

  • 351 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141054

Global Cross Laminated Timber (CLT) Market to Reach $3.7 Billion by 2030

The global market for Cross Laminated Timber (CLT) estimated at US$1.2 Billion in the year 2022, is projected to reach a revised size of US$3.7 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2022-2030. Adhesive Bonded , one of the segments analyzed in the report, is projected to record 14.9% CAGR and reach US$3.3 Billion by the end of the analysis period. Growth in the Mechanically Fastened segment is estimated at 12.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $214.9 Million, While China is Forecast to Grow at 17.5% CAGR

The Cross Laminated Timber (CLT) market in the U.S. is estimated at US$214.9 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$337.8 Million by the year 2030 trailing a CAGR of 17.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.2% and 14.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.2% CAGR.

Select Competitors (Total 60 Featured)

  • Stora Enso Oyj
  • Moelven Industrier ASA
  • Holmen AB
  • Ramboll Group A/S
  • Lignotrend GmbH & Company KG
  • Setra Group AB
  • Binderholz GmbH
  • Freres Lumber Co., Inc.
  • HASSLACHER Holding GmbH (Hasslacher Norica Timber)
  • Nordic Structures
  • Mercer International Inc.
  • Pfeifer Holding GmbH
  • Segezha Group
  • W. U. J. Derix GmbH & Co.
  • Ledinek Engineering d.o.o.

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Cross Laminated Timber (CLT) Market

What is the estimated value of the Cross Laminated Timber (CLT) Market?

The Cross Laminated Timber (CLT) Market was estimated to be valued at $1.2 Billion in 2022.

What is the growth rate of the Cross Laminated Timber (CLT) Market?

The growth rate of the Cross Laminated Timber (CLT) Market is 15.1%, with an estimated value of $3.7 Billion by 2030.

What is the forecasted size of the Cross Laminated Timber (CLT) Market?

The Cross Laminated Timber (CLT) Market is estimated to be worth $3.7 Billion by 2030.

Who are the key companies in the Cross Laminated Timber (CLT) Market?

Key companies in the Cross Laminated Timber (CLT) Market include Stora Enso Oyj, Moelven Industrier ASA, Holmen AB, Ramboll Group A/S, Lignotrend GmbH & Company KG, Setra Group AB, Binderholz GmbH, Freres Lumber Co., Inc., HASSLACHER Holding GmbH (Hasslacher Norica Timber) and Nordic Structures.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Cross Laminated Timber (CLT) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Cross-Laminated Timber: A Sustainable Construction Material
  • CLT Panels Production
  • Benefits of Cross-laminated Timber (CLT)
  • Lightweight Nature & Fast Installation
  • Fire Protection
  • Sustainability
  • Aesthetic Appeal
  • Key Advantages of Using Cross-Laminated Timber in Building Construction Projects
  • Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed?
  • Omicron Spreads Panic Worldwide; Omicron Variant Brings Back Memories & Fears of the Worst Part of the 2020 Pandemic
  • Steps taken by the Countries to Prevent Transmission of Omicron Variant
  • With IMF Making an Upward Revision of Global GDP for 2021, Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Cross Laminated Timber (CLT) Market Remains Strongly Influenced by Trends in the Construction Sector
  • Global Market Prospects & Outlook
  • Global Cross-Laminated Timber Market to Witness Rapid Growth
  • Cross-Laminated Timber Market to Recover from COVID-19 Shock
  • Interplay of Vibrant Drivers Augmenting Growth of Cross-Laminated Timber Market
  • Rising Popularity across Residential Sector
  • Strong Focus on Sustainable Living
  • Favorable Government Regulations
  • Product Type Analysis
  • Application Analysis
  • Residential: Primary Application Segment
  • Regional Analysis
  • North America Set to Rise Notably
  • Asia-Pacific to Exhibit Fast Growth
  • Competitive Landscape
  • Recent Market Activity
  • GLOBAL BRANDS
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Recovery in Global Construction Sector to Post Gains in Long Term
  • Global Construction Reset & Trajectory: Growth Outlook (In %) For Years 2019 Through 2025
  • Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040
  • Growing Focus on Sustainability to Drive CLT Demand
  • Growing Adoption of Green Building Initiatives Positively Influences Demand for CLT
  • Proliferation of CLT-based Buildings in Developed Countries
  • Mass Timber Gains Traction as a Sustainable Building Material in US Construction Projects
  • Building Renovations & Remodeling: Prominent Revenue Generating Vertical
  • Global Remodeling Market in US$ Trillion for the Years 2017, 2019, 2021, 2023 and 2025
  • Infrastructure Spending to Bring COVID-19 Hit Economies Back on Track
  • Large Adoption of CLT in Commercial Construction
  • Lucrative Opportunities in Emerging Economies
  • Green Building codes Enforcement in Asia Pacific Region to Drive Market Demand
  • Increasing Use of Adhesive Bonded CLT Across End-Use Industries
  • Mechanically Fastened CLT Market WItnesses Increased Popularity
  • Favorable Demographics Strengthen Market Prospects
  • World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
  • Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050
  • Urban Sprawl Encourages a Positive Tide
  • World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
  • Burgeoning Middle Class Population
  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
  • Rising Standards of Living
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Cross Laminated Timber (CLT) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Cross Laminated Timber (CLT) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 3: World 16-Year Perspective for Cross Laminated Timber (CLT) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Adhesive Bonded by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Adhesive Bonded by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 6: World 16-Year Perspective for Adhesive Bonded by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Mechanically Fastened by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Mechanically Fastened by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 9: World 16-Year Perspective for Mechanically Fastened by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 12: World 16-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Institutional by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Institutional by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 15: World 16-Year Perspective for Institutional by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 18: World 16-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 20: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 21: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 22: World Cross Laminated Timber (CLT) Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • CHINA
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • AUSTRALIA
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
  • INDIA
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
  • AFRICA
  • Cross Laminated Timber (CLT) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Stora Enso Oyj
  • Moelven Industrier ASA
  • Holmen AB
  • Ramboll Group A/S
  • Lignotrend GmbH & Company KG
  • Setra Group AB
  • Binderholz GmbH
  • Freres Lumber Co., Inc.
  • HASSLACHER Holding GmbH (Hasslacher Norica Timber)
  • Nordic Structures
  • Mercer International Inc.
  • Pfeifer Holding GmbH
  • Segezha Group
  • W. U. J. Derix GmbH & Co.
  • Ledinek Engineering d.o.o.