Australia and New Zealand Cross Laminated Timber (CLT) Market to Reach US$ 252.6 Million by 2027

According to IMARC Group latest published report, titled "Australia and New Zealand Cross Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," that the Australia and New Zealand cross laminated timber (CLT) market reached a value of US$ 68.3 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 252.6 Million by 2027, exhibiting a CAGR of 22.90% during 2022-2027.

The report also includes competitor and regional analysis, and contemporary advancements in the market.

Cross-laminated timber (CLT) arrived in Australia and New Zealand later than in Europe and North America, and rapidly gained popularity within the engineering community. It is preferred across both the residential and non-residential sectors owing to its advantageous characteristics such as dimensional stability, versatility, strength, easy and faster installation, low greenhouse gas emissions, light weight, and aesthetic appearance.

On account of growing environmental concerns, the demand for green buildings is increasing in Australia and New Zealand. In line with this, builders are focusing on better construction practices and opportunities for innovation with new materials and techniques as well as business strategies and industry transformation. CLT has been identified as one of the materials with prospects for contribution in all of these areas.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/australia-newzealand-clt-market/requestsample

Competitive Scenario with Key Players:

The competitive landscape of the market has also been analyzed, with some of the key players being

KALIA LTD (KLH:Australian Stock Exchange Ltd)
STORA ENSO OYJ (SEOAY)
Binderholz GmbH
XLam etc.

Australia and New Zealand CLT Industry Trends:

The eco-friendly nature of CLT makes it a promising alternative to concrete as a core construction material. Owing to this, the governments in Australia and New Zealand are encouraging consumers to shift towards wood panels. For instance, Tasmania has adopted a state-wide Wood Encouragement Policy (WEP), whereas, the Rotorua Lakes Council in New Zealand is encouraging the use of natural timber-based products in construction. As a result, the share of green-rated buildings is further anticipated to increase, thereby intensifying the demand for CLT in infrastructural constructions. Moreover, technical advancements coupled with the aesthetic value of CLT has led several construction companies in Australian and New Zealand to build structures over 10 storeys in commercial spaces.

Ask Analyst for 10% free customized report: https://www.imarcgroup.com/australia-newzealand-clt-market

The report cover the below key market segments:

Australia Cross Laminated Timber Industry Segmentation

Market Breakup by Application:

Detached Houses
Residential
Non-Residential Units

New Zealand Cross Laminated Timber Industry Segmentation

Market Breakup by Application:

Residential
Commercial

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This release was published on openPR.