Report Ocean recently released a research report on the Cross-Laminated Timber Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global cross-laminated timber market size was US$ 1061 million in 2021. The global cross-laminated timber market is forecast to grow to US$ 2080 million by 2030, registering a compound annual growth rate (CAGR) of 12.1% during the forecast period from 2022 to 2030.
Cross-laminated timber (CLT) works as a renewable option for concrete and steel construction. It is a form of wood panel produced by attaching the layers of solid-sawn lumber.
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Factors Influencing the Market Growth
The demand for cross-laminated timber is forecast to increase due to its eco-friendly characteristics. In addition, the growth of the construction industry is forecast to fuel the growth of the global cross-laminated timber market during the study period.
The rising demand for sustainable construction solutions is driving the growth of the global cross-laminated timber (CLT) market. CLT acts as a beneficial alternative that pollutes the environment. In addition, its lightweight properties help in producing efficient designs. Thus, all of these factors will contribute to the market growth during the study period.
Growing technological advancements are forecast to boost the adoption of cross-laminated timber in construction activities. The advancements in the industry have helped construct buildings up to ten stories tall.
Rising government support is forecast to accelerate the growth of the global cross-laminated timber market during the study period. In addition, increasing consumer awareness about the harmful effects of cement and bricks is forecast to fuel the demand for environmentally sustainable construction materials. Thus, the global cross-laminated timber market will benefit from growing environmental concerns.
The poor fire and moisture resistance of cross-laminated timbers may slow down the growth of the market.
Regional Analysis
The cross-laminated timber market is forecast to witness favorable growth results in Europe. The region is expected to hold dominance in the market due to the rising construction activities and favorable government initiatives. In addition, North America will hold a substantial proportion of the cross-laminated timber market, owing to the growing construction industries and rising number of residential and commercial projects.
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COVID-19 Impact Analysis
Cross-laminated timber has high applications in the construction industry. However, the construction industry has been one of those industries that witnessed negative impacts due to the COVID-19 pandemic. Thus, the demand for cross-laminated timber ultimately declined. In addition, the market also witnessed significant challenges in the production of cross-laminated timber. As a result of this, supply chains were highly disrupted. The global cross-laminated timber market is forecast to recover as the authorities ease restrictions and construction activities restart.
Competitors in the Market
- Sterling Company
- Stora Enso Group
- Binderholz GmbH
- Mayr Melnhof Holz Group
- Schilliger Holz AG
- KLH Massivholz GmbH
- Structurlam Mass Timber Corporation
- Nordic Structures
- Eugen Decker Holzindustrie KG
- Other prominent players
Market Segmentation
The global cross-laminated timber market segmentation focuses on Product, application, and Region.
Product Outlook
- Adhesive Bonded Cross Laminated Timber
- Mechanically Fastened Cross Laminated Timber
Application Outlook
- Residential
- Institutional
- Commercial
- Others
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By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Content
Chapter 1: Global Cross-Laminated Timber Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Cross-Laminated Timber market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Cross-Laminated Timber Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Cross-Laminated Timber market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Cross-Laminated Timber market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Cross-Laminated Timber market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Cross-Laminated Timber market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Cross-Laminated Timber business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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