The cross laminated timber global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cross Laminated Timber Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Cross Laminated Timber Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cross Laminated Timber Market Overview
Market Drivers –
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.
Market Trends –
Product innovations are a key trend gaining popularity in the cross laminated timber market. Major companies in the cross-laminated market are advancing their technologies and product innovations, such as Woodbe self-locking frame. For instance, in September 2021, Woodbe, a Sweden-based company operating in cross-laminated timber, reused its old technology self-locking frame system in a new way to create innovation to build smarter with cross-laminated timber. It improves the working environment for construction workers and reduces the construction industry’s climate footprint. This innovation provides higher precision, reduces the risk of error at the building site, and makes it easier for architects and civil engineers to build easily on wood.
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
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Regional Insights –
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.
Key Companies –
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
1. Executive Summary
2. Cross Laminated Timber Market Report Structure
3. Cross Laminated Timber Market Trends And Strategies
4. Cross Laminated Timber Market – Macro Economic Scenario
5. Cross Laminated Timber Market Size And Growth
…..
27. Cross Laminated Timber Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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