Cross Laminated Timber Market Research Report Information, By Type (Adhesive-Bonded CLT and Mechanically Fastened CLT), Application (Residential, Commercial and Industrial) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2030

Cross Laminated Timber Market Overview

The global Cross Laminated Timber Market is anticipated to achieve a market size of approximately USD 671.5 Billion by the end of 2030. In 2021, this global market was estimated to generate nearly USD 890 million. Further, the global market for Cross Laminated Timber is anticipated to hold the market value at a CAGR of 2.73% between the review period of 2022 to 2030.

The rising use of cross-laminated timber in commercial and residential constructions is projected to drive the global market growth during the review period. Also, the rising application of Cross Laminated Timber across various industries is projected to enhance the market growth. Moreover, the growing rapid urbanisation, rising focus on innovation in green construction materials, and unprecedented growth in the construction sector are projected to bring significant growth during the forecast period. However, the rising demand for CLT and barriers to design are estimated to hamper the global market growth during the review period. The global market for Cross Laminated Timber might experience challenges due to the long lead times by CLT suppliers.

The global Cross Laminated Timber Market is segmented based on application outlook and product. Further, the application outlook segment has been segregated into institutional, residential, commercial, and others. The product segment has been classified into mechanically fastened cross-laminated timber and adhesive-bonded cross-laminated timber. The European regional market is contributing largely to the global market for Cross Laminated Timber during the forecast period.

COVID -19 Analysis

As everyone knows that the world is facing a hard situation from the year 2020 because of the spread of the pandemic all over the world. Because of this everything is shut down, so all the things in the market are facing a loss. To control the spread of the virus, the government has announced some restrictions like lockdown and maintaining social distance. This brought a great loss to the market. It is believed that things will get normal and the market will also gradually increase after all the troubles.

Market Dynamics

Cross Laminated Timber Market is growing gradually in recent days. There are many reasons for which the cross laminated timber market is growing these days. The first factor for which the people is preferring the cross-laminated timber is for the adaptability in the flexible design and the stylish architecture. This caused the demand for cross-laminated timber in the residential sector. Not only do these factors increase the growth of the timber market but it is preferred over concrete and steel because of their light weightiness and dimensional stability, and because of their longevity.

In the present day, there are growing opportunities for cross-laminated timber when compared to concrete and steel construction. As people are getting interested in buying things that do not harm the environment, so there is a chance in the future to get extraordinary growth for the cross laminated timber market share. In many growing countries there is rapid urbanization, increase in demand for green buildings so the growth opportunities are tremendous.

The main restriction faced in the growth of the cross laminated timber industry is that the people don’t have proper awareness and idea about the timber. The moisture-absorbing nature of the wood is also considered as one of the main restraints. While talking about the fireproof capability, it could not able to compensate with other conventional building materials. And the manufacturing companies are facing government regulations regarding carbon emission. And the manufacturing companies are also facing a lack of investments.

One of the greatest challenges which are faced by the manufacturing company is to face government regulation which is against carbon emission while manufacturing timber construction materials. Then in 2020 the whole cross laminated timber market value got down because of the spread of the pandemic. So there was a severe loss in the market value.

Once the government relaxed all the lockdown restrictions, there was a demand for materials. So the manufacturer team are working to higher their production with their unique ideas and strategies. After the lockdown relaxation, the cross laminated timber market size is regaining its position.

When compared to steel the timber's longevity and cost-effectiveness is less. So in recent times, we could find better growth in the market value of the timber. One of the best benefits of using timber is the cost-effectiveness and the lightweight when compared to other products which are in the construction market. Due to all these gradual growths in the market, we could find the great demand for the timber products in the constructions.

Market segment overview

• Adhesive bonded cross-laminated timber


• Mechanically fastened cross-laminated timbe

• Residential


• Institutional/ institutional


• Commercial


• Others 

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Austria
  
  
  • Germany
  
  
  • Switzerland
  
  
  • Italy
  
  
  
  


• Asia pacific
  
  
  
  • New Zealand
  
  
  • China
  
  
  • Japan
  
  
  • Australia
  
  
  
  


• Central and South America


• The Middle East and Africa

Competitive landscape

There is some recent drastic growth in the cross laminated timber market. Because of the prominent growth, the key players are using different strategies to increase the need of the customer. They are performing some strategies like new production process, innovation in the existing products, expanding the business, partnership and collaboration. These strategies help in increasing the customer base for the sale in the cross laminated timber market globally.

In present days, cross-laminated timber is used in various institutional and commercial buildings for construction. So this also paved the way for the growth of the cross laminated timber market. So the competitors are performing hardly to increase the value of their products in the market. By this, they can extend their business to the next level.

Regional analysis

Europe is one of the reasons to increase the global revenue in 2020 because of the trend raising in the construction of the green building movement which is being initiated in the region. The main reason for the growth of the cross laminated timber market trends paved the way for the usage of wooden products for construction purposes.

In North America, there is a great demand for cross-laminated timber products because they are getting inspired by the construction ideas and strategies used in the US. As Canada and Mexico are bringing the great demand for cross-laminated timber products, they strongly believe in the idea of using timber products for construction purposes.

Due to the climatic condition and high temperature in the Asia Pacific region, the growth of the laminated timber market is slow when compared to other regions. As the construction method which is followed in the Asia Pacific's goal is to use concrete products when compared to wooden construction.

Though there are many reasons for the growth in the cross laminated timber market trends. But the expansion of the commercial, residential and industrial sector is also one of the main reasons for the growth of the timber market globally.

Key players

• Stora Ensa Oyj


• Mayr- Melnh of holz holding AG


• Binderholz Gmbh


• XLam


• Sterling company


• B&K Structures


• Schilliger holz AG


• KLH massiv holz GmbH


• Ante group


• Decker holding GmbH


• Structurlam Mass Timber corporation


• Sterling lumber company


• J,Derix GmbH & CO

Recent Developments

In December 2021

The prominent market player Mayr-Melnhof Holz Holding Firm has signed an agreement with the Swedish sawmill group Bergkvist Siljan to purchase it. Purchasing it mainly aims to expand the growth plan and maintain the business expansion.

In October 2021

The prominent market player Stora Enso has invested USD 114.76 million to enhance the production in Sweden at its Skoghall facility.

Market overview

• Overall market overview


• COVID -19 analysis


• Market dynamics


• Crucial market drivers


• The market growth opportunities


• The market restraints


• The market challenge


• Cumulative growth analysis


• Value chain analysis

• By product


• By application outlook


• By region

• Regional analysis


• Key players


• Recent updates

In the global market, the growth of cross-laminated timber products has increased their market value. This happened because of the people who are showing their interest in constructions which is built using timber products. One of the main reasons is the trending green building which brought a great impact in the global market of cross-laminated timber products.