Cross-Laminated Timber Market Size, Demand, Trends, Companies and Research Report 2024-2032 | Stora Enso, KLH, Binderholz, Mayr Melnhof

IMARC Group, a leading market research company, has recently released a report titled "Cross-Laminated Timber Market Report by Application (Residential, Educational Institutes, Government/Public Buildings, Commercial Spaces), Product Type (Custom CLT, Blank CLT), Element Type (Wall Panels, Flooring Panels, Roofing Slabs, and Others), Raw Material Type (Spruce, Pine, Fir, and Others), Bonding Method (Adhesively Bonded, Mechanically Fastened), Panel Layers (3-Ply, 5-Ply, 7-Ply, and Others), Adhesive Type (PUR (Polyurethane), PRF (Phenol Resorcinol Formaldehyde), MUF (Melamine-Urea-Formaldehyde), and Others), Press Type (Hydraulic Press, Vacuum Press, Pneumatic Press, and Others), Storey Class (Low-Rise Buildings (1-4 Storeys), Mid-Rise Buildings (5-10 Storeys), High-Rise Buildings (More than 10 Storeys)), Application Type (Structural Applications, Non-Structural Applications), and Region 2024-2032". The study provides a detailed analysis of the industry, including the CLT market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the cross-laminated timber (CLT) market?

The global cross-laminated timber (CLT) market size reached US$ 1,586.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,715.8 Million by 2032, exhibiting a growth rate (CAGR) of 9.6% during 2024-2032.

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Factors Affecting the Growth of the Cross-Laminated Timber Industry: 

• Increasing Environmental Awareness and Sustainability Initiatives:

The growth of the cross-laminated timber (CLT) market is being influenced by a rising global consciousness about environmental sustainability. As individuals and organizations are increasingly seeking eco-friendly construction materials, CLT emerges as a preferred choice due to its lower carbon footprint compared to traditional building materials like concrete and steel. Moreover, the sustainable forestry practices involved in sourcing timber for CLT production align with green building certifications and environmental regulations, further propelling the market. This shift towards sustainable construction practices is not only driven by regulatory pressures but also by the growing public demand for greener building solutions, positioning CLT as a key material in future construction projects.

• Technological Advancements in Manufacturing and Design:

Technological advancements in the manufacturing and design of cross-laminated timber are actively shaping the market's growth trajectory. These advancements are enabling more efficient and precise production of CLT, reducing waste and improving the quality of the final product. Innovations in digital tools, such as computer-aided design (CAD) and computer-aided manufacturing (CAM), are facilitating complex architectural designs and customization in CLT construction, broadening its application scope. As these technologies continue to evolve, they are making CLT a more versatile and attractive option for a wider range of construction projects, from residential buildings to large-scale commercial and public structures.

• Expansion in Global Construction Markets:

The expansion of global construction markets is a significant factor driving the growth of the cross-laminated timber market. Rapid urbanization and the consequent rise in construction activities, especially in emerging economies, are creating a high demand for building materials, including CLT. This demand is bolstered by the growing trend of constructing taller wooden buildings, for which CLT is an ideal material due to its strength and stability. Furthermore, the increasing investment in infrastructure development and the rising preference for prefabricated and modular construction methods are opening new avenues for the utilization of CLT, thus contributing to its market growth.

Cross-Laminated Timber Market Report Segmentation:     

By Application:  

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

By application, residential applications represented the largest segment due to its growing popularity in sustainable and efficient housing construction. 

By Product Type:  

• Custom CLT
• Blank CLT

By product type, custom CLT represented the largest segment as it offers flexibility in design and can be tailored to meet specific architectural requirements. 

By Element Type:  

• Wall Panels
• Flooring Panels
• Roofing Slabs
• Others

By element wall, wall panels constituted the largest segment in CLT because of their fundamental role in providing structural support and thermal insulation in buildings. 

By Raw Material Type:  

• Spruce
• Pine
• Fir
• Others

By raw material, spruce dominated the raw material segment in CLT manufacturing owing to its favourable mechanical properties and widespread availability. 

By Bonding Method:  

• Adhesively Bonded
• Mechanically Fastened

By bonding method, adhesively bonded CLT represented the largest segment due to its superior structural integrity and ease of assembly in construction projects. 

By Panel Layers:  

• 3-Ply
• 5-Ply
• 7-Ply
• Others

By panel layers, 3-Ply CLT panels were the most prevalent, balancing strength and material efficiency, making them suitable for a wide range of construction needs. 

By Adhesive Type:  

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

By adhesive type, PUR (Polyurethane) adhesives led the segment in CLT due to their strong bonding capability and resistance to moisture and temperature variations. 

By Press Type:  

• Hydraulic Press
• Vacuum Press
• Pneumatic Press
• Others

By press type, hydraulic presses represented the largest segment because of their ability to evenly distribute pressure, essential for producing high-quality panels. 

By Storey Class:  

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

By storey class, low-rise buildings represented the largest segment due to its suitability for small to medium-scale constructions and efficiency. 

By Application Type:  

• Structural Applications
• Non-Structural Applications

By application, structural applications represented the largest segment due its strength, durability, and load-bearing capacity as key attributes. 

Regional Insights:  

• Europe

o Austria
o Germany
o Italy
o Switzerland
o Czech Republic
o Spain
o Norway
o Sweden
o United Kingdom

• North America

o United States
o Canada

• Asia-Pacific

o Australia
o New Zealand
o Japan
o China
o Taiwanz

Region wise, Europe emerged as the largest market, driven by its advanced timber industry, stringent environmental regulations, and growing adoption of sustainable construction practices. 

Global Cross-Laminated Timber Market Trends:

The growing trend towards sustainable and eco-friendly construction practices represents one of the key factors driving the growth of the cross-laminated timber market across the globe. This, coupled with CLT being favored for its environmental benefits, such as carbon sequestration and renewable sourcing is acting as a major growth-inducing factor. CLT's versatility and strength are enabling innovative architectural designs, including taller wood structures and complex shapes, thus appealing to modern architectural preferences.

CLT is gaining traction in both residential and commercial construction due to its aesthetic appeal, structural integrity, and quick assembly time. Many governments are promoting sustainable building materials like CLT through regulations and incentives, which is further boosting its market. Advances in manufacturing technologies are improving CLT's quality and affordability, thus making it more accessible for a wider range of construction projects.

Top Cross-Laminated Timber Manufacturers Worldwide:

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

Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=602&flag=C

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• 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.

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This release was published on openPR.