Cross Laminated Timber Market Intelligence Report: Analyzing Key Futuristic Trends, Research Methodologies, and Competitive Landscape until 2029 | Mayr-Melnhof Holz (Austria), Stora Enso (Finland), Binderholz GmbH (Austria), Eugen Decker Holzindustrie KG

Cross Laminated Timber Market by Type (Adhesive Bonded, and Mechanically Fastened), Industry (Residential, and Non-residential), End Use (Structural, and Non-structural), & Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2028

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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.

The growth in the building and construction especially remodel category and supportive growth from environmental material usage in construction is driving the cross laminated timber market.

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.

Adhesive bonded segment is expected to account for the largest share in 2023

Cross laminated wood is creating significant disruption in the mass timber market. With its incorporation in the International Building Code, cross laminated wood is expected to disrupt the mass timber sector globally by aiding builders and architects in the building and design of taller structures. The application in the non-residential sector is expected to be critical on a global scale. The bulk of the adhesives used in cross laminated timber is PU adhesives, making it an even more enticing option because they are formaldehyde-free and have VOC content that is below legal limits. As regulatory standards tighten, demand for PU adhesive products is expected to climb.

The DACH nations (Germany (D), Austria (A), and Switzerland (CH)) have been driving forces in CLT growth, not only as originators of CLT goods but also as prominent CLT producers. Austria has seven CLT manufacturing sites, Germany has three, and Switzerland has two. Smaller manufacturing sites exist in Finland, Italy, Norway, Spain, and Sweden, and new CLT plants are being built in Finland, France, Sweden, and the United Kingdom.

Structural segment in end use is expected to account for the largest share in 2023

Prefabricated buildings or concurrently created structures can be employed in modern construction to save time. There are standards for headers above doors and window apertures when building walls. These headers support the load of the roof from the top and prevent the wall framework from drooping. Headers increase the strength and stability of constructions. As a result, the header gives an extra layer of security to structures and improves the functionality of windows and doors for extended periods of time.

North American cross laminated timber market is estimated to register one of the highest CAGR during the forecast period

The market for cross laminated timber in North America is driven by technological advancements in the construction industry. The US is projected to be the largest consumer of cross laminated timber products and accounted for the largest market share, in terms of value as well as volume, among the countries in the North American region. These companies primarily focus on new product developments to cater to the increasing demand from end users. The North American cross laminated timber market is driven by technological advancements in manufacturing and high-quality end product.

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Reasons to buy this report: The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cross laminated timber market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Research Coverage:

This research report categorizes the cross laminated timber market by type (adhesive bonded, and mechanically fastened), by end use (structural, and non-structural), industry (residential and non-residential), and region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the cross laminated timber market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the cross laminated timber market. Competitive analysis of upcoming startups in the cross laminated timber market ecosystem is covered in this report.

This release was published on openPR.