Authored By: Sarah
11 Jul 2024

 Cross Laminated Timber Market to grow by USD 1239.79 million between 2024-2028

According to a research report “ Cross Laminated Timber Market” by End-user (Non-residential, Residential) Application (Structural, Non-structural) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1239.79 million at a CAGR of  12.42% during the forecast period. The real estate sector's expansion globally, driven by urbanization and infrastructure development in emerging economies, has fueled the demand for cross laminated timber (CLT) in construction and structural applications. Key consumers of CLT in the Asia Pacific (APAC) region are China and India, where robust economic growth and infrastructure development are propelling the global CLT market's growth. The industrial, architectural, and infrastructural sectors all benefit from CLT's versatile uses..

Browse market data tables, figures, and in-depth TOC on “Cross Laminated Timber Market” by End-user (Non-residential, Residential) Application (Structural, Non-structural) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028.

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By End-user, the Non-residential segment is projected to dominate the market size in 2024.

In the Cross Laminated Timber (CLT) market, structural applications held the largest market share in 2022 and are anticipated to continue this trend during the forecast period. Complying with the APA-PRG 320 standard in North America, mills manufacture CLT panels for structural use. The Engineered Wood Association grants qualification, ensuring both process and product certification for commercial production. Structural CLT's load-bearing and load-carrying capacities make it a preferred choice for commercial construction, heavy construction, and framing systems.

By Application, Structural  segment is expected to hold the largest market size for the year 2024.

Cross laminated timber (CLT) has gained significant traction in the commercial construction sector, particularly for open spaces and intricate architectural designs, including curved and domed ceilings, complex arches, and flat roof systems. The primary drivers of CLT's popularity are its ease of maintenance and cost-effective construction. Advancements in building design technologies and the growing trend towards sustainable materials, such as wood, are expected to fuel the demand for CLT in non-residential construction during the forecast period. Notable applications of CLT include museums, gathering centers, and hospitals, which benefit from its superior strength and aesthetic appeal.

Europe is forecasted to hold the largest market size by region in 2024.

The European region emerged as the frontrunner in the global Cross Laminated Timber (CLT) market in 2022, with a strong forecast to continue its market dominance. Key European contributors to this sector include Germany, Italy, France, and Austria. The region's market growth is primarily driven by the increasing demand for eco-friendly building materials, such as wood, and the expansion of industries like construction and furniture. Europe is home to significant softwood producers, namely Germany, Austria, France, Sweden, Finland, and the UK.

The Cross Laminated Timber Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • B and K Structures
  • Binderholz GmbH
  • DRJ Wood Innovations
  • Eugen Decker Holzindustrie KG
  • Freres Engineered Wood
  • HASSLACHER Holding GmbH
  • HESS TIMBER GmbH
  • KLH Massivholz GmbH
  • Mayr Melnhof Holz Holding AG
  • Mercer International Inc.
  • Nordic Structures
  • Pfeifer Holding GmbH
  • PFS Corp.
  • Schilliger Holz AG
  • SmartLam
  • Stora Enso Oyj
  • STRABAG SE
  • StructureCraft
  • XLam Ltd.
  • Sterling Lumber
.

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Research Analysis Overview

The Cross Laminated Timber (CLT) market encompasses various sectors, including non-residential and residential industries. Façade cladding, roofs, floors, walls, and building frames are key applications for CLT in construction. Advanced adhesives and resins are utilized for glueing layers, ensuring precision and construction efficiency. CLT's carbon-neutral properties make it an attractive option for investment in infrastructure, particularly in emerging economies. Its moisture-absorbing capacity and fire-resistance properties contribute to its structural integrity. Solid-sawn lumber is a primary raw material in CLT production. Hasslacher Holding, Eugen Decker Holzindustrie, and Stora Enso are notable players in the CLT market. These companies leverage digital fabrication and CNC machining in their building design processes to produce high-quality CLT products. The market's growth is influenced by purchasing power and investment trends in both the non-residential and residential sectors. Mechanically fastened and adhesive-bonded CLT structures are increasingly popular due to their cost-effectiveness and durability.

Market Research Overview

The Cross Laminated Timber (CLT) market encompasses the production and application of this advanced building material in various sectors. CLT offers several benefits, including fire resistance, enhanced insulation, design variety, stability, and lightweight properties. These advantages align with environmental concerns, as CLT has a carbon sequestering ability and contributes to green building initiatives. Architects and builders value CLT for its versatility in design, structural integrity, and aesthetic appeal. Multi-story buildings, commercial structures, and residential applications all benefit from CLT's durability and project completion efficiency. Construction processes utilizing CNC machining and digital fabrication further enhance the precision and flexibility of CLT. CLT's carbon-neutral properties and eco-friendly credentials make it an attractive alternative to traditional materials like steel, concrete, and timber. However, high initial costs and regulations may impact its adoption in emerging economies and industries with varying purchasing powers. Major players in the CLT market include Hasslacher Holding, Eugen Decker Holzindustrie, and Stora Enso. These companies invest in infrastructure and capacity expansion to meet the growing demand for sustainable building practices and green buildings. CLT's application scope extends to solid structural wood, glulam, and hardwood floor beams. Its versatility in design and structural properties make it suitable for use in both the non-residential and residential segments. Additionally, CLT offers seismic performance, acoustic performance, and fire protection, making it a valuable resource for public infrastructure and engineering construction projects.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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