Cross-Laminated Timber Market to Witness Major Growth by 2028 | Stora Enso, Binderholz, KLH Massivholz
Published Via 11Press : According to HTF MI, “Global Cross-Laminated Timber Market: Industry Trends, Size, Opportunity and Forecast 2023-2029“. It is expected that between 2023 and 2028, the global cross-laminated timber market will expand at a compound annual growth rate (CAGR) of 5.1%, reaching USD 285.9 million in 2023 and USD 386.9 million by that time.
Cross-laminated timber (CLT) is a form of wood panel that typically comprises three, five, or seven layers of dimension lumber placed at right angles to one another and then joined in order to produce structural panels with extraordinary strength, dimensional stability, and stiffness. Transport regulations frequently limit the length of CLT, however, it may be built to particular proportions, and panel sizes differ depending on the producer. The structurally engineered wood product glulam, sometimes referred to as glued laminated timber, is constructed of many layers of dimensional lumber linked together using moisture-resistant, long-lasting structural adhesives.
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The coverage has highlighted several important and rising stars, including
- Stora Enso
- Binderholz
- KLH Massivholz
- Mayr-Melnhof Holz
- MHM Abbund-Zentrum
- Hasslacher Norica
- ZÜBLIN Timber Construction
- Lignotrend
- Eugen Decker
- XLam Dolomiti
- u. J. Derix
- Schilliger Holz
- Structurlam
- Mosser
- Bullinger
- SCHNEIDER
- Pfeifer Holz
Market Drivers
- Cross-laminated lumber, an environmentally friendly building material, is in increased demand as a result of growing consumer awareness of the environmental harm caused during the manufacture of cement and bricks.
- As a result, the use of sustainable materials like wood in the construction of buildings and other infrastructure is receiving increased attention from both customers and experts.
- Given that CLT is comprised of wood and helps the user financially and spatially, several governments promote its usage in construction.
Market Trend
- The construction industry is expected to grow significantly in the near future, especially in the countries of Latin America and Asia Pacific.
- The building industry is expected to expand despite being paralyzed by the COVID-19 outbreak thanks to significant investments planned by the governments of India, China, Brazil, and the Pacific countries.
- This development is predicted to result in market growth since sustainable building materials are sought after by both governments and construction companies in order to construct infrastructure and meet WHO standards for CO emissions.
Market Opportunities
- The integrity of functioning and product durability have been ranked as consumers’ top priorities and have been shown to be important determining factors in the purchase of these things.
- Businesses rely on natural certification and clean labeling to prove a product’s authenticity.
- These labels add to the legitimacy of the raw components used in the completed product, which were supplied by an authorized entity.
- There will likely be a significant increase in demand for certification labels.
Market Restraints
- The market for cross-laminated wood as a whole has been significantly impacted by the conflict between Russia and Ukraine.
- The aftermath of the battle had an impact on every industry, with construction suffering the most.
- The construction sector is regarded as one of any country’s economic pillars. Due to a labor shortage and a restricted raw material supply chain at the time, the market for cross-laminated timber saw a rapid decrease.
- In general, consumers stopped making purchases, which diminished demand and compelled producers to shut down factories.
- Due to the dramatic decline in the number of enterprises brought on by the economic turmoil, the supply side’s expenses and inventories were reduced.
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Cross-Laminated Timber Market Segmentation:
According to type, distribution method, and geographic location, the market for cross-laminated wood has been segmented in the study.
Market Breakdown by Applications:
- Adhesive Bonded Cross Laminated Timber
- Mechanically Fastened Cross Laminated Timber
Market Breakdown by Types:
- Residential Building
- Institutional Building
- Commercial Building
- Industrial Facility
Report Scope
| The Market size value in 2023 | USD 285.9 Million |
| Revenue Forecast by 2033 | USD 386.9 Million |
| Growth Rate | CAGR Of 5.1% |
| Regions Covered | Latin America, North America, Europe, the Middle East, and Africa, and the rest of the globe |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
Competitive Landscape:
The competitive climate of the industry is thoroughly explored in addition to a study of the top competitors in the market for cross-laminated wood. Among the athletes highlighted are Stora Enso, KLH Massivholz, Binderholz, MHM Abbund-Zentrum, Mayr-Melnhof Holz, ZÜBLIN Timber Construction, Hasslacher Norica, Lignotrend, XLam Dolomiti, Eugen Decker, W. u. J. Derix, Structurlam, Schilliger Holz, Mosser, SCHNEIDE, Bullinger, Pfeifer Holz.
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Key highlights of the report:
- Cross-Laminated Timber Market Performance (2018-2022)
- Cross-Laminated Timber Market Outlook (2023-2028)
- Cross-Laminated Timber Market Trends
- Cross-Laminated Timber Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Detailed competitive landscape
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