Cross Laminated Timber Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Cross-laminated timber is a type of engineered wood material composed of layers of kiln-dried dimension lumber positioned at sharp angles to one another and glued together to form structural panels. It is used in both load-bearing and non-load-bearing structures, walls, floors, and roofs. The panel obtains good structural strength in both directions by bonding it in different angles.

Sizing and Forecast
The cross laminated timber market size has grown rapidly in recent years. It will grow from $1.34 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to sustainable construction practices, green building certifications, cost-effective construction solutions, rising awareness of climate change, architectural flexibility and design freedom, urbanization and population growth..

The cross laminated timber market size is expected to see rapid growth in the next few years. It will grow to $3.17 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to regulatory support for timber construction, focus on carbon-neutral construction, demand for energy-efficient buildings, resilience in seismic zones, adoption in affordable housing projects, consumer preference for natural materials.. Major trends in the forecast period include sustainability and environmental benefits, advancements in clt manufacturing, integration with building information modeling (bim), use in hybrid construction systems, code and standards development, education and training initiatives, financial incentives and support..

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Segmentation & Regional Insights
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

Europe was the largest region in the cross laminated timber market in 2023. 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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Major Driver Impacting Market Growth
The increase in construction activities is expected to propel the growth of the cross-laminated timber market going forward. Construction activity refers to any activity associated with construction at a site. Timber is used in the construction of doors, windows, cabinets, cupboards, shelves, tables, and railings, among other things, which increases the use of cross-laminated timber in construction activities. For instance, in September 2021, according to Construction digital, a UK-based magazine, the global construction market grew from $4.5 trillion to $15.2 trillion, with China, India, the United States, and Indonesia accounting for 58% of the projected growth. The predicted average annual growth rate of 3.6 % per year will be faster than the services or manufacturing sectors, and global infrastructure construction grew by 5.1 % annually. Therefore, an increase in construction activities is expected to drive the growth of the cross laminated timber market.

Key Industry Players
Major companies operating in the cross laminated timber market report 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

The cross laminated timber market report table of contents includes:

1. Executive Summary

2. Cross Laminated Timber Market Characteristics

3. Cross Laminated Timber Market Trends And Strategies

4. Cross Laminated Timber Market – Macro Economic Scenario

5. Global Cross Laminated Timber Market Size and Growth

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31. Global Cross Laminated Timber Market Competitive Benchmarking

32. Global Cross Laminated Timber Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Cross Laminated Timber Market

34. Cross Laminated Timber Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Maye-Melnhof Holz Holding AG

Stora Enso Oyj

Binderholz GmbH

Eugen Decker Holzindustrie KG

Schilliger Holz AG

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