According to IMARC Group’s latest report, titled “Cross-Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The global cross-laminated timber market size reached 2,105,690 Cubic Metres in 2022. Looking forward, IMARC Group expects the market to reach 4,241,413 Cubic Metres by 2028, exhibiting a growth rate (CAGR) of 12.17% during 2023-2028.
Cross-laminated timber (CLT), or XLam, is a pre-assembled, engineered wood lumber that is used as a common alternative to concrete, masonry, and steel. It is composed of two or more layers of structural composite or solid-sawn wood that are cross-oriented, adjoined, and stacked together mechanically with various glue and adhesives to offer enhanced rigidity and dimensional stability. CLT is reliable, easily installable, corrosion-resistant, and offers high load-carrying capacity with enhanced thermal and acoustic insulation qualities. As a result, CLT is extensively employed as load-bearing components and in building frames for the construction of floors, roofs, and walls of residential and commercial complexes.
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Global Cross-Laminated Timber Market Trends:
The growth of the global CLT market can be attributed to ongoing infrastructural projects and the increasing need for lightweight and stable construction materials with flexible design and modern architecture as a suitable alternative to steel and concrete. Furthermore, the escalating environmental concerns have encouraged governments to promote the uptake of diverse, sustainable building materials, which is favoring the market growth. Owing to such green initiatives, manufacturers are engineering eco-friendly cross-laminated timber to reduce carbon emissions. Moreover, the widespread incorporation of bamboo and softwood as substitute raw materials for producing create CLT with improved product performance is positively stimulating the market growth. Besides this, rapid urbanization, a rise in the demand for green buildings, and significant technological advancements in the manufacturing processes to fabricate high-quality CLT with soundproofing properties are supporting the market growth.
Cross-Laminated Timber Market 2023-2028 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
• Mayr Melnhof
• XLam Limited
• Sterling Lumber
• Shilliger Holz AG
• Eugen Decker Holzindustrie KG
• 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:
• 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:
• 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 (2017-2022)
• Market Outlook (2023-2028)
• 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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