According to IMARC Group’s latest report, titled “Cross-Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global cross-laminated timber market size reached 1,853,437Cubic Metres in 2021. Looking forward, IMARC Group expects the market to reach 3,777,532 Cubic Metres by 2027, exhibiting at a CAGR of 12.4% during 2022-2027.
Cross-laminated timber (CLT) is a wood-engineered product made by piling up the layers of lumber cut from a single log. It is generally stacked perpendicular to the layers above and below it and then glued symmetrically on the wide faces of each board. This cross-laminated arrangement improves rigidity, dimensional stability, and mechanical properties. As a result, CLT is gaining popularity as a sustainable alternative to concrete and steel construction in commercial and residential sectors worldwide.
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Global Cross-Laminated Timber Market Trends:
The market is primarily driven by the increasing demand for CLT from the construction sector. This can be attributed to the numerous benefits associated with CLT, such as shorter construction time, fast installation and affordability. As a result, it is widely used for building different types of structures, including barns, powerline towers, houses, bridges, high-rise apartments, and office buildings. Moreover, CLT is a cheaper alternative to other popular construction materials such as precast concrete, which represents another major growth-inducing factor. Besides this, governments of numerous countries are undertaking various initiatives to promote the usage of green construction materials. In line with this, the growing environmental consciousness among the masses, and the sales of eco-friendly wooden panels, are anticipated to further propel the market growth.
Cross-Laminated Timber Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the cross-laminated timber market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players 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 Market Segmentation:
The report has segmented the cross laminated timber market on the basis of application, product type, element type, raw material type, bonding method, panel layers, adhesive type, press type, storey class, application type and region.
Breakup by Application:
• Residential
• Educational Institutes
• Government/Public Buildings
• Commercial Spaces
Breakup by Product Type:
• Custom CLT
• Blank CLT
Breakup by Element Type:
• Wall Panels
• Flooring Panels
• Roofing Slabs
• Others
Breakup by Raw Material Type:
• Spruce
• Pine
• Fir
• Others
Breakup by Bonding Method:
• Adhesively Bonded
• Mechanically Fastened
Breakup by Panel Layers:
• 3-Ply
• 5-Ply
• 7-Ply
• Others
Breakup by Adhesive Type:
• PUR (Polyurethane)
• PRF (Phenol Resorcinol Formaldehyde)
• MUF (Melamine-Urea-Formaldehyde)
• Others
Breakup by Press Type:
• Hydraulic Press
• Vacuum Press
• Pneumatic Press
• Others
Breakup by Storey Class:
• Low-Rise Buildings (1-4 Storeys)
• Mid-Rise Buildings (5-10 Storeys)
• High-Rise Buildings (More than 10 Storeys)
Breakup by Application Type:
• Structural Applications
• Non-Structural Applications
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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