Global Cross Laminated Timber Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2027

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Cross Laminated Timber (CLT) is an engineered wood product which is made from several layers of lumber board, stacked crosswise and glued together on their wide faces. This structure offers strength, stability, and firmness which makes the product a possible alternative to concrete and steel for many applications. It can be used for a building purpose or any combination of wall, floor and ceiling. Its light weight nature makes it highly adaptable to different types of projects. In addition, as a construction material, timber is renewable and creates environmental benefits. CLT is gaining popularity owing to its various features such as cheaper, cleaner and quicker product to build than traditional structures.

From the past five years the use of this timber in construction has showing augmented growth. The material is being used for constructing spectacular and sustainable homes, offices, schools, towers etc. Additionally, supportive government initiatives across the globe influencing the users to shift from concrete construction to wood-based construction, which will fuel demand for the target product and drive the global market. Furthermore, decreasing overall cost of CLT, increasing number of suppliers and shorter construction time is responsible for rise in demand for the global market. Timber trade federations and large construction companies are promoting the usage of cross laminated timber in their recent construction projects. However, moisture trapping in certain climatic conditions may hamper the market growth negatively.

Cross laminated timber has wider usage in Europe due to the early adoption of the product and increasing research & development on CLT technologies. Recently in 2016, Binderholz GmbH planned to extend its CLT production plant at its Burgbernheim site in Germany. Some factors such as green development, changes in building codes, and consistent R&D effort by CLT manufactures boosting the market of cross laminated timber. The building codes in Europe gives importance to the usage of wood in the construction business. Furthermore, In North America, CLT is relatively new concept and gaining momentum positively. Governments are focusing on green building solutions, this will provide a new way to CLT in the construction industry over the forecast period.

Global Cross Laminated Timber Market Segmentation:

By product type:

• Adhesive-bonded CLT market
• Mechanically Fastened CLT

By application:

• Residential
• Institutional
• Commercial

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa