Cross-Laminated Timber Market to reach 4,241,413 Cubic Metres by 2028 With a CAGR of 12.17%

According to IMARC Group's latest report, titled "𝐂𝐫𝐨𝐬𝐬-𝐋𝐚𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐓𝐢𝐦𝐛𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖", the global cross-laminated timber market size reached 2,105,690 Cubic Metres in 2022. Looking forward, IMARC Group expects the market to reach 4,241,413 Cubic Metres by 2028, exhibiting a growth rate (CAGR) of 12.17% during 2023-2028.

Cross-laminated timber (CLT) is an innovative engineered wood product that has gained significant popularity in the construction industry in recent years. It is a panelized building system made from layers of lumber boards that are stacked crosswise and glued together at right angles. The result is a sturdy, solid wood panel that can be used for walls, floors, and roofs. CLT panels are typically made from softwood species, such as spruce, pine, and fir, which are renewable resources and have excellent structural properties. The manufacturing process involves cutting the lumber into precise dimensions, laying it up in alternating layers, and pressing it under heat and pressure to create a solid, stable panel. One of the main advantages of CLT is its strength and durability. The cross-laminated layers provide exceptional dimensional stability, making them less prone to warping, twisting, or shrinking. As a result, CLT structures have a longer lifespan and require less maintenance than traditional wood-framed buildings. Another advantage of CLT is its versatility. The panels can be prefabricated off-site to precise specifications, making them ideal for fast and efficient construction. They can also be used in a variety of applications, from residential homes and multi-story buildings to bridges and even high-rise buildings. CLT is also an eco-friendly building material. Since it is made from sustainably sourced wood, it has a much lower carbon footprint than traditional building materials, such as concrete or steel. Additionally, the manufacturing process produces minimal waste, and the panels themselves can be recycled or repurposed at the end of their useful life.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐛𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.imarcgroup.com/cross-laminated-timber-manufacturing-plant/requestsample

Cross-Laminated Timber Market Trends:

The rising trend of prefabrication and modular construction represents one of the significant factors driving the growth of the market across the globe. In line with this, the rising demand for sustainable and environmentally friendly building materials, along with the expanding construction industry across both the developed and developing economies is contributing to the growth of the market. The market is also driven by the increasing demand for cost-effective and efficient building solutions. Apart from this, cross-laminated timber is manufactured from renewable wood resources, which have a significantly lower carbon footprint when compared with traditional building materials like steel and concrete, thus facilitating the growth of the market. In addition to this, the unique structural properties of CLT, including its high strength-to-weight ratio and fire-resistant properties, are contributing to the market growth. Governments of several nations around the world are offering incentives and funding for sustainable building practices, including the use of cross-laminated timber, which is driving the growth of the market. Other factors, such as the rising number of housing projects and increasing infrastructural development, steadily expanding population base, rapid urbanization, and easy access to raw materials, are creating a positive outlook for the market.

Cross-Laminated Timber Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the cross-laminated timber market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Stora Enso
• KLH
• Binderholz
• Mayr Melnhof
• Hasslacher
• XLam Limited
• Sterling Lumber
• Shilliger Holz AG
• Eugen Decker Holzindustrie KG
• Structurlam
• SmartLam
• Meiken Lamwood Corp.

Key Market Segmentation:

The report has segmented the cross laminated timber market on the basis of application, product type, element type, raw material type, bonding method, panel layers, adhesive type, press type, storey class, application type and region.

Breakup by Application:

• Residential
• Educational Institutes
• Government/Public Buildings
• Commercial Spaces

Breakup by Product Type:

• Custom CLT
• Blank CLT

Breakup by Element Type:

• Wall Panels
• Flooring Panels
• Roofing Slabs
• Others

Breakup by Raw Material Type:

• Spruce
• Pine
• Fir
• Others

Breakup by Bonding Method:

• Adhesively Bonded
• Mechanically Fastened

Breakup by Panel Layers:

• 3-Ply
• 5-Ply
• 7-Ply
• Others

Breakup by Adhesive Type:

• PUR (Polyurethane)
• PRF (Phenol Resorcinol Formaldehyde)
• MUF (Melamine-Urea-Formaldehyde)
• Others

Breakup by Press Type:

• Hydraulic Press
• Vacuum Press
• Pneumatic Press
• Others

Breakup by Storey Class:

• Low-Rise Buildings (1-4 Storeys)
• Mid-Rise Buildings (5-10 Storeys)
• High-Rise Buildings (More than 10 Storeys)
Breakup by Application Type:
• Structural Applications
• Non-Structural Applications

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝟏𝟎% 𝐟𝐫𝐞𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=602&flag=C

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

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This release was published on openPR.