Australia And New Zealand Cross Laminated Timber Market Expected to Reach US$ 252.6 Million by 2027, CAGR of 22.90%

According to the new market research report by IMARC Group, The Australia and New Zealand cross laminated timber (CLT) market size reached US$ 68.3 Million in 2021. Looking forward, the market expected 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) refers to prefabricated and solid engineered wood panels. They comprise of several layers of kiln-dried lumber boards stacked in alternating directions, pressed to form straight, solid, and rectangular panels, and bonded with structural adhesives. The CLT materials are lightweight and strong, with superior fire, acoustic, seismic, and thermal performance. They offer various advantages, including easy installation, aesthetic appeal, low greenhouse gas emissions, etc. As a result, CLT panel variants find extensive applications in numerous residential and non-residential construction activities in Australia and New Zealand.

List of Major Key Players:

The major players operating in the Australia and New Zealand CLT market include :

Stora Enso Oyj,
KLH Massivholz GmbH,
Binderholz GmbH,
XLam NZ Ltd./XLam Australia Pty Ltd.

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Australia and New Zealand CLT Industry Trends:

The increasing concern among the masses about the harmful impact of greenhouse gases on the environment is primarily driving the Australia and New Zealand cross laminated timber (CLT) market. Additionally, the rising number of green building projects and the launch of favorable policies and initiatives by government bodies to promote the adoption of wood-based construction materials are further augmenting the market across the countries. Besides this, the escalating need for sustainable storage facilities and factories is also positively influencing the product demand.

Furthermore, the elevating awareness about the benefits of using CLT, such as zero waste production, cost-effectiveness, and less time for the construction of multiple structures as compared to conventional materials, is acting as another significant growth-inducing factor. Moreover, the shifting preferences among the builders toward innovative construction materials and techniques that ensure airtightness and robust floor and wall structures and the inflating investments by leading players in research and development (R&D) activities are expected to propel the Australia and New Zealand cross laminated timber (CLT) market over the forecasted period.

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/australia-newzealand-clt-market

Australia and New Zealand CLT Market Summary:

Market Breakup by Application:

Detached Houses
Residential
Non-Residential Units

In Australia, the CLT market has been segmented as detached houses, residential units and non-residential units. Currently, non-residential units dominate the market, holding the largest share. This can be attributed to the growing preference for sustainable building materials like CLT which reduce fresh water consumption, enhance indoor environment quality and help in keeping the environment clean by generating zero waste during production.

New Zealand Cross Laminated Timber Industry

Market Breakup by Application:

Residential
Commercial

In New Zealand, the market has been bifurcated into residential and commercial units. Amongst these, residential units exhibit a clear dominance as cross-laminated timber is better suited for multi-storey buildings.

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