Cross-Laminated Timber (CLT) Market to witness massive growth by 2025 - HASSLACHER Holding, BinderholzBausysteme, Stora Enso, KLH Massivholz, Eugen Decker Holzindustrie
Expansion of production capacity either through upgradation in existing production facility or through establishing a new production facility is a major trend in CLT market. For instance, Sterling Lumber declared an investment of USD 30 million to build a new cross-laminated timber (CLT) plant. Partnerships among the product manufacturers is one of the strategies incorporated by the players to enhance or maintain their position in the market.
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Government of many countries have backed-up the construction practices in which concrete is replaced by wood, to reduce the carbon dioxide emission. Additionally, advantages associated with wood-based construction, which includes waste reduction, environment friendly, cost-efficiency and superior quality will further drive the cross-laminated timber demand in near future. However, regulations regarding the use of solvents or adhesives for cross-laminated timber production coupled with limited availability of sustainable wood might hamper the product demand in coming years.
The Indian construction industry is also growing rapidly due to higher population growth rate, rapid industrialization & urbanization and rising disposable income. Favorable government initiatives, such as 100% foreign direct investment for construction development under automatic route which includes townships, built-up infrastructure, housing is also a chief factor driving the construction activities in the country. These trends will have positive impact on cross-laminated timber market size. On the other hand, ongoing and increasing number of upcoming construction projects across the world will also boost the global construction industry, which in turn will drive the demand for cross-laminated timber market in coming years.
Key players in cross-laminated timber market share include HASSLACHER Holding, BinderholzBausysteme, Stora Enso, KLH Massivholz, Eugen Decker Holzindustrie, Structurlam (Structurlam Mass Timber Corporation), Ed. Züblin AG, Nordic Structures, Sterling Lumber Company, W. u. J. Derix, etc.
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The Chinese government has planned to relax many measures that were imposed earlier for the purpose of reining in excessive debt-driven investment in the construction sector that was resulting in excess capacity and oversupply in infrastructure and real estate. This move is aimed towards reinvigoration of construction industry demand in the country. For instance, in 2018, the state council issued guidelines to attract investments in various infrastructure projects, especially for airports, roads, railways and waterways. Such developments will augment the Chinese construction market which will in turn propel the cross-laminated timber market growth.
In 2013, construction spending by China was over 45% of the total construction spending in the Asia Pacific region. It can be attributed to trends such as escalating population growth, rapid development in industrial infrastructure in the country, etc. The country’s construction industry has witnessed an average annual growth of more than 8% between 2013 and 2016.
Related News: https://www.marketwatch.com/press-release/cross-laminated-timber-clt-market-2019-by-regional-industry-trends-growth-forecast-to-2025-2019-10-09
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