Global Cross Laminated Timber Market to be Driven by the Increasing Construction Activities in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Cross Laminated Timber Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Global Cross Laminated Timber Market, assessing the market based on its segments like type, formulation, functionality, application, and region. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026)

Historical Market Size (2020):USD 780 Million
Forecast CAGR (2021-2026):13%
Forecast Market Size (2026):USD 1624 Million

The cross-laminated timber market is currently being driven by rising construction activity and demand from the education sector, as well as residential and non-residential applications, which is placing pressure on conventional materials supplies and leading developers to search for faster alternatives like CLT.

Industry Definition and Major Segments

Cross laminated timber (CLT) is a type of engineered wood that is used as a building material to supplement light and heavy timber framing. It can be used as a substitute for steel, concrete, and masonry in a variety of building forms due to its dimensional stability and high strength. It is more cost-effective, environmentally sustainable because it emits less greenhouse gases, and it is simple and quick to instal because it is prefabricated. It also allows for more design versatility because it is light weight and solid.

Based on application, the cross-laminated timber market is divided into:

Residential
Educational Institutes
Government/Public Buildings
Commercial Spaces
Others

On the basis of product type, the industry is segmented into:

Custom
Blank

Based on element type, the industry is divided into:

Wall Panels
Flooring Panels
Roofing Slabs

On the basis of raw material type, the industry is segregated into:

Spruce
Pine
Fir
Others

Based on panel layers, the market is segmented into:

3-Ply
5-Ply
7-Ply
Others

On the basis of adhesive type, the industry is categorised into:

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

On the basis of region, the market is segmented into:

North America
Europe
Asia
Latin America
Middle East and Africa

Market Trends

Green building trends, improvements in building codes, consistent marketing efforts, and the growth of distribution networks have made Europe the largest market on a regional basis. In addition, the study examined industry dynamics, top producers, and market forecasts in European countries such as Austria, Germany, Italy, Spain, Switzerland, and others, as well as North American countries such as the United States and Canada.

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Key Market Players

The major players in the market are Stora Enso Group, Binderholz GmbH, Mayr Melnhof Holz Group, Schilliger Holz AG, KLH Massivholz GmbH, HASSLACHER Holding GmbH, Sterling Company, Structurlam Mass Timber Corporation, Nordic Structures, Eugen Decker Holzindustrie KG, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.