Press release
Emerging Trends to Drive Cross Laminated Timber Market Growth at 18.1% CAGR Through 2029
Cross Laminated Timber
Cross Laminated Timber Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size for cross laminated timber has witnessed a rapid escalation. The market, which was valued at $1.6 billion in 2024, is projected to reach $1.89 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 18.5%. The remarkable growth during the historic period is the result of several factors including sustainable construction methods, green building certifications, cost-efficiency in construction, increasing cognizance about climate change, architectural flexibility and creative liberty, along with urbanization and population rise.
How Will the Cross Laminated Timber Market Size Evolve and Grow by 2029?
In the coming years, the cross laminated timber market is predicted to experience a significant expansion. The projections suggest that this industry will swell to a worth of $3.68 billion by 2029, with an impressive compound annual growth rate (CAGR) of 18.1%. The predicted growth in this period is believed to be driven by factors such as regulatory backings for timber construction, a shift towards carbon-neutral construction methods, a rising demand for energy-efficient buildings, and the material's durability in seismic zones. Its utilization in cost-effective housing projects, and an increasing consumer liking for natural materials also contribute to this expansion. Key emerging trends forecasted for this period include a focus on sustainability and environmental benefits, advancements in cross laminated timber manufacturing, integration with building information modelling (BIM), its application in hybrid construction systems, development in codes and standards. Initiatives in education and training, alongside financial benefits and support, are also seen as influential factors.
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What Drivers Are Propelling the Growth of Cross Laminated Timber Market Forward?
The rise in construction endeavors is predicted to stimulate the expansion of the cross-laminated timber market. Activities related to on-site construction are what come under construction activity, with timber playing a pivotal role in the formation of doors, windows, cabinetry, cupboards, shelving units, tables, and balustrades amongst other things; this invariably propels the usage of cross-laminated timber. Construction Digital, a United Kingdom-based firm linking all construction brands reported in June 2023 that a 12% growth is forecasted for the UK's construction sector in 2024, with an additional 3% growth anticipated in 2025. Thus, the surge in construction activities is likely to fuel the expansion of the cross laminated timber market.
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Which Emerging Trends Are Transforming the Cross Laminated Timber Market in 2025?
Leading firms active in the cross laminated timber market are updating their manufacturing processes to augment output, enhance performance, and cater to the surging demand for eco-friendly construction materials. For example, Timberlab, a US-based firm expert in engineered wood products, announced in March 2024 that it is opening a new cross-laminated timber (CLT) facility in Oregon. The purpose of this facility is to boost the production of CLT panels and serve the escalating demand for green building materials. It's a strategic move by Timberlab to back environment-friendly construction methods and fulfill the evolving needs of the construction sector.
What Are the Key Segments in the Cross Laminated Timber Market?
The cross laminated timber market covered in this report is segmented -
1) By Type: Adhesive Bonded, Mechanically Fastened
2) By Application: Residential, Institutional, Commercial, Other Applications
3) By End User: Structural, Non-Structural
Subsegments:
1) By Adhesive Bonded: Phenol-Formaldehyde Bonded, Polyurethane Bonded, Melamine-Urea-Formaldehyde Bonded
2) By Mechanically Fastened: Nail-Laminated Timber (NLT), Screw-Laminated Timber (SLT)
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Who Are the Key Players Shaping the Cross Laminated Timber Market's Competitive Landscape?
Major companies operating in the cross laminated timber market are 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., Smartlam NA, HASSLACHER Gruppe, Ante group, Decker holding GmbH, Meiken Lamwood Corporation, PFS Corporation, Blackwell Structural Engineers, Boise Cascade Company, Building Systems Design Inc., Canadian Timberframes Ltd., Nordic Structures, Oregon Canadian Forest Products, DRJ Wood Innovations, Eco Building Systems, TimberLab Solutions, Eurban Ltd., Freres Lumber Co. Inc., Züblin Timber GmbH, Holz100, Lignotrend Produktions GmbH, Massiv Lustenau GmbH
What Geographic Markets Are Powering Growth in the Cross Laminated Timber Market?
Europe was the largest region in the cross laminated timber market in 2024. Asia-Pacific is expected to be the fastest-growing region in the cross-laminated timber market report forecast period. The regions covered in the cross laminated timber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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