Cross-Laminated Timber Market Size, Demand, Growth, Drivers and Forecast 2023-2028

The latest report by IMARC Group, titled "Cross-Laminated Timber Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global cross-laminated timber market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Cross Laminated Timber Market Size, CAGR and Forecast Value: 2023-2028

The global cross-laminated timber market size reached US$ 1,429 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,759 Million by 2028, exhibiting a growth rate (CAGR) of 11.02% during 2023-2028.

Cross-laminated timber (CLT) is a multi-layered, wood panel product made from solid-sawn lumber. Each layer of boards, typically three to seven, is orientated perpendicular to the adjacent layer and then glued under high pressure to form structural panels with exceptional strength, dimensional stability, and rigidity. The panels are light in weight, allowing for quick and easy construction, yet robust enough to support heavy loads, making them a viable alternative to concrete, steel, and masonry in many construction applications. CLT's advantageous attributes include its high load-bearing capacity, resistance to fire, and impressive thermal insulation properties.

Furthermore, as a renewable resource, CLT offers a more sustainable building material, significantly reducing the carbon footprint associated with construction. Its versatility lends itself to a wide range of structures, from residential to commercial buildings, thus broadening its reach within the construction sector. The advent of modern design and fabrication techniques has further expanded the usability and aesthetics of CLT, marking it as a crucial component in innovative construction materials.

Report Sample: https://www.imarcgroup.com/cross-laminated-timber-manufacturing-plant/requestsample

Market Trends and Growth Factors:

The rising trend toward sustainable construction materials and practices represents one of the key factors driving the market growth. As a renewable resource, CLT fits perfectly into this trend, thus stimulating its demand across the globe. The increasing recognition of its structural advantages and versatility in construction applications further propels the market growth. In addition to this, the shift toward prefabrication in the construction industry, where components are made off-site and then assembled on-site, aligns well with CLT's characteristics, thereby enhancing its adoption rate.

Another crucial driver of the market is the continuous technological advancements in design, fabrication, and installation methods, making CLT a more practical and cost-effective building solution. The increased emphasis on reducing construction time and labor costs is creating a positive outlook for the market further across the globe.

What is included in market segmentation?

The report has segmented the market into the following categories:

Application Insights:

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

Product Type Insights:

• Custom CLT
• Blank CLT

Element Type Insights:

• Wall Panels
• Flooring Panels
• Roofing Slabs
• Others

Raw Material Type Insights:

• Spruce
• Pine
• Fir
• Others

Bonding Method Insights:

• Adhesively Bonded
• Mechanically Fastened

Panel Layers Insights:

• 3-Ply
• 5-Ply
• 7-Ply
• Others

Adhesive Type Insights:

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

Press Type Insights:

• Hydraulic Press
• Vacuum Press
• Pneumatic Press
• Others

Storey Class Insights:

• Low-Rise Buildings (1-4 Storeys)
• Mid-Rise Buildings (5-10 Storeys)
• High-Rise Buildings (More than 10 Storeys)

Application Type Insights:

• Structural Applications
• Non-Structural Applications

Note: We are also providing Cross Laminated Timber Manufacturing Plant Project Report 2023: https://www.imarcgroup.com/cross-laminated-timber-manufacturing-plant-project-report

Who are the key players operating in the industry?

The report covers the major market players including: 

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

Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=602&flag=C

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 require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.