Cross Laminated Timber Market Key Players, Demands, Trends, Size, Share and Forecasts to 2028

The global cross laminated timber market size is projected to grow from USD 1.4 billion in 2023 to USD 2.6 billion by 2028, at a CAGR of 13.7%, between 2023 and 2028. The cross laminated timber market is mainly characterized by two main types: adhesive bonded, and mechanically fastened. Cross laminated timber has significant use in residential and non-residential end-use industries. The demand for environment-friendly materials from the construction industry and the rising need to improve performance, durability, and aesthetics are the key factors contributing to the growth of the cross laminated timber market. The growing investment in emerging markets is expected to create growth opportunities for the market players globally, driving the demand for cross laminated timber during the forecast period. However, stringent and time-consuming regulatory policies act as a challenge for the market players.

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Prominent companies includes Mayr-Melnhof Holz (Austria), Stora Enso (Finland), Binderholz GmbH (Austria), Eugen Decker Holzindustrie KG (Germany), Hasslacher Holding GmbH (Austria), Schilliger Holz AG (Switzerland), KLH Massivholz GmbH (Austria), Structurlam Mass Timber Corporation (Canada), XLam NZ Limited (New Zealand), and others.

Cross Laminated Timber (CLT) is a type of engineered wood product that is made by gluing layers of solid-sawn lumber together, with each layer oriented perpendicular to the adjacent layer. CLT offers several advantages over traditional building materials, such as concrete and steel, including its sustainability, low carbon footprint, and quick and easy installation.

The report also highlights the increasing adoption of CLT in various applications such as residential, commercial, and institutional buildings. CLT is increasingly being used in the construction of low-rise and mid-rise buildings, as well as tall buildings up to 18 stories high. The use of CLT in construction can significantly reduce the carbon footprint of buildings, while providing excellent structural performance and aesthetic appeal.

Europe is expected to be the largest market for CLT during the forecast period, owing to the region's advanced construction industry, favorable government regulations, and growing focus on sustainability in construction. The Asia Pacific region is also expected to witness significant growth in the CLT market, driven by the increasing adoption of sustainable building materials in countries such as Japan, Australia, and New Zealand.

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In conclusion, the CLT market is expected to witness significant growth in the coming years, driven by the increasing demand for sustainable building materials, the growing focus on green construction, and the rising use of CLT in tall buildings.

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