Press release
Explosive Growth Estimated in the Cross Laminated Timber Market: Noteworthy CAGR and Market Drivers
Cross Laminated Timber Market
What Is The Projected Market Size Of The Global Cross Laminated Timber Market And Its Growth Rate?
The cross laminated timber market is flourishing with leaps and bounds stemming from green construction, design flexibility, and urbanization.
• 2024 Market Size: $1.6 billion
• 2025 Market Size: $1.91 billion (19.9% CAGR)
• 2029 Market Size: $3.77 billion (18.5% CAGR)
The market growth extends beyond construction solutions and addresses climate change concerns, contributing to its accelerating demand.
What Is Driving The Growth In The Cross Laminated Timber Market?
The upturn in the construction sector is primarily driving the growth of the cross-laminated timber market. Timber finds extensive applications in construction, from doors to railings, thereby leading to an extensive utilization of cross-laminated timber. Construction Digital, a UK-based company, affirms that the UK construction industry is projected to register a growth rate of 12% in 2024 and subsequently, an increase of 3% in 2025. Consequently, the rise in construction activities is anticipated to catalyze the expansion of the cross laminated timber market.
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Who Are the Key Players Driving Cross Laminated Timber Market Growth?
Noteworthy companies catering to the cross laminated timber market include:
• Maye-Melnhof Holz Holding AG
• Stora Enso Oyj
• Binderholz GmbH
• Eugen Decker Holzindustrie KG
• Schilliger Holz AG
• KLH Massivholz GmbH
• Structurlam Mass Timber Corporation
• XLam Limited
• Sterling Lumber
• B & K Structures Ltd.
What Are The Key Trends In The Cross Laminated Timber Market?
Key trends paving the path of the market growth encompass:
• Sustainability and environmental benefits
• Enhancements in CLT manufacturing practices
• Integration with Building Information Modeling (BIM)
• Application in hybrid construction systems
• Development of industry-specific codes and standards
What Are The Segments Of The Global Cross Laminated Timber Market?
The global cross laminated timber market spans:
1) By Type: Adhesive Bonded, Mechanically Fastened
2) By Application: Residential, Institutional, Commercial, Other Applications
3) By End User: Structural, Non-Structural
Which Region Leads The Cross Laminated Timber Market?
Europe commanded the largest share of the cross laminated timber market in 2024, followed by Asia-Pacific which is expected to manifest swift growth over the forecast period. The market report encapsulates Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa amongst others.
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What Is Covered In The Cross Laminated Timber Market Global Market Report?
- Market Size Analysis: Analyze the Cross Laminated Timber Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cross Laminated Timber Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cross Laminated Timber Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cross Laminated Timber Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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