The latest report by IMARC Group titled “Cross-Laminated Timber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” finds that the global cross-laminated timber market reached a value of US$ 1.07 Billion in 2020. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Cross Lamination 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. Looking forward, IMARC Group expects the market to grow at a CAGR of around 13.2% during the forecast period (2021-2026).
- Based on the application, the market has been segmented into residential, educational institutes, government/public buildings, and commercial spaces.
- On the basis of the product type, the market has been bifurcated into custom and blank CLT.
- Based on the element type, the market has been classified into wall panels, flooring panels, roofing slabs, and others.
- Based on the raw material, the market has been segregated into spruce, pine, fir, and others.
- On the basis of the bonding method, the market has been categorized into adhesively bonded and mechanically fastened methods.
- Based on the panel layers, the market has been divided into 3-ply, 5-ply, 7-ply, and others.
- Based on the adhesive type, the market has been classified into polyurethane (PUR), phenol resorcinol formaldehyde (PRF), melamine-urea-formaldehyde (MUF), and others.
- On the basis of the press type, the market has been segregated into hydraulic, vacuum, pneumatic and other presses.
- Based on the storey class, the market has been segmented into low-rise (1-4 storeys), mid-rise (5-10 storeys), and high-rise buildings (more than 10 storeys).
- On the basis of the application type, the market has been bifurcated into structural and non-structural applications.
- Region-wise, the market has been classified into Europe (Austria, Germany, Italy, Switzerland, Czech Republic, Spain, Norway, Sweden, and the United Kingdom), North America (the United States and Canada), and Asia Pacific (Australia, New Zealand, China, Japan, and Taiwan).
- The competitive landscape of the market has been studied in the report, with the detailed profiles of the key players being, Stora Enso Oyj, KLHMassivholz GmbH, Binderholz GmbH, Mayr Melnhof Karton AG, Hasslacher Holding GmbH, XLam Limited, Sterling Lumber and Investment Company, Shilliger Holz AG, Eugen Decker Holzindustrie KG, Structurlam Products Ltd., SmartLam, LLC, and Meiken Lamwood Corp.
- Stora Enso
- Mayr Melnhof
- XLam Limited
- Sterling Lumber
- Shilliger Holz AG
- Eugen Decker Holzindustrie KG
- Meiken Lamwood Corp.
Key Market Segmentation:
Breakup by Application:
- 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
Breakup by Raw Material Type:
Breakup by Bonding Method:
- Adhesively Bonded
- Mechanically Fastened
Breakup by Panel Layers:
Breakup by Adhesive Type:
- PUR (Polyurethane)
- PRF (Phenol Resorcinol Formaldehyde)
- MUF (Melamine-Urea-Formaldehyde)
Breakup by Press Type:
- Hydraulic Press
- Vacuum Press
- Pneumatic Press
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:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- 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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