ID: MRFR/CO/6490-HCR | February 2021 | Region: Global | 100 pages
Cross Laminated Timber Market is projected to reach USD 3,562.6 Million by 2027 from an estimated USD 1,710 million in 2020, at a CAGR of 12% from 2021 to 2027.
The cross laminated Timber Market is witnessing some upsurge in the growth of construction over the past few years. Now that with growing investments that are made into residential and commercial constructions there are straight away emerging economies and increase in demands.
The manufacturers do follow expansion strategies that allow them to strengthen the position of this market. Hence the estimated CAGR is around 12% over the forecasted period.
COVID 19 Analysis
As per the current situation of covid-19, it is sad to say that the cross laminated Timber Market is also facing drastic loss. When everything is shut down, small, medium and large businesses are facing tremendous decline. No matter what the level of business is, it is in the loss. But it is believed that by the year 2022, as the vaccination process has begun, things will get back to normal.
The most prominent major key players in the global market are as follows:
These most prominent major key players in the global market use various strategies to cater to the increasing need of the customer. These strategies include collaborations, mergers, and acquisitions, establishing a joint venture, developing the new production process, innovation in the existing product, expansion of business, and partnership. Such strategies help increase the customer base of the cross laminated timber market globally.
These are some recent developments in the cross laminated timber market.
There are advancements made in the field of manufacturing that has created durable interior decoration items.
There are developments with durability and lighter weight when compared to some traditional products such as steel and concrete. This has helped in many ways.
There are developments made in this Timber Market in the sense of rising demand for roofing, cladding, flooring, and ceiling construction. As more and more people are advancing, the power to buy has increased. This automatically means the building of new houses and urbanization.
Also, the market has such features of dimensional stability and cost-effectiveness.
There are advancements in the cells of expansion and investment acquisitions, new product development, and agreements.
One can finally witness a clear-cut expenditure of global presence and an increase in market shares. Slowly new strategies are being adapted to attract customers and get better in the field.
The cross laminated Timber Global Market is growing tremendously. Many factors influence the growth of the global Timber Market. These factors include the preference of manufacturers over conventional building materials such as steel and concrete. Also, this Timber is preferred over steel and concrete due to its light-weightedness and dimensional stability, performance durability, and various other features. Moreover, there is a change in lifestyle of people which is leading to the power to purchase. As lifestyle changes in per capita income increases, and more people head towards buying houses which increases organization. And all this automatically increases the demand for this Timber.
The Global Market is growing tremendously. There are many opportunities for further growth which includes expansion strategies by manufacturers to grow. Also, there are many investments made in residential and commercial constructions in many countries with emerging economies. These countries include Brazil, Saudi Arabia, India, and China. All these countries profile further rapid urbanization, increase in demand for green buildings, etc.
There are some restaurants in the way which include government regulations regarding carbon emission and the high production cost required to extract it. Also, there is a lack of per capita investments.
Value Chain Analysis
There are many benefits to using timber, which includes durability and lighter weight. Also, it is better when it comes to comparison between steel and concrete. It also acts as a valuable market due to the growing demand for roofing and cladding flooring and ceiling construction due to increasing urbanization. The main benefit of using this timber is its cost-effectiveness and dimensional stability.
This Market has been segmented based on type and application. Such as -
Based On The Type
The cross laminated Timber Market has been divided based on type into adhesive-bonded CLT and mechanically fastened CLT. As estimated, the adhesive-bonded CLT has accounted for a share of about 45% overall in this Timber Market. It is expected that sooner it will witness much more growth rate over the forecasted period. There are some attributed features such as dimensional stability cost-effectiveness which makes adhesive-bonded CLT being more preferential over mechanically fast CLT.
Based On The Application
This Global Market has been divided based on application into residential, commercial, and industrial. According to the estimated data the residential segment holds the largest Market share. In the year 2018, it held its position and still will continue at its position by 2024. The segment is also witnessed to show maximum growth rate in the market due to many factors such as roof including flooring and ceiling construction activities in demand. The commercial application segment is estimated to grow during the forecasted period as all these products are mainly used for manufacturing durable interior decoration items. Also, they have more durability and are lighter in weight when compared to some traditional products such as steel or concrete.
The market is divided into certain regions. The regions that the market is divided into, includes North America, Europe, Asia-Pacific, and the rest of the world. According to the Timber market outlook, Europe has the largest cross-limited Timber Market size. The reason behind such growth in the market is due to the various construction projects that are offered in this region. In addition to this, subsequent growth is made in public and private sector investment in infrastructure and construction projects. This has led to dominance in the cross laminated timber industry.
North America is the region where cross laminated Timber Market trends are followed smoothly which automatically accounts for the second-largest market size. North America is anticipated to exhibit sustainable growth over the forecasted period of 2017 to 2025. There are some repair and renovation activities in the real estate and also commercial sectors that are flourishing the Market value.
The region of Asia Pacific has the scope and is expected to witness maximum growth due to the booming construction industry in their residential areas. Not only this but the commercial and industrial sector is also expected to contribute a major part to the demand for cross laminated timber market revenue.
The global cross laminated Timber market research report consists of the following elements:
This global cross laminated Timber market research report consists of the factors that drive the global market, along with the factors that restrict its growth. This report also contains various growth opportunities in the global market during the forecasted period. Moreover, the impact of COVID-19 pandemic on the market is also estimated in this report.
The intended audience for this market is as follows-
|Market Size||2027: USD 3,562.6 Million|
|CAGR||12% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ante-Group, Stora Enso (Finland), KLH Massivholz GmbH (Austria), Binderholz Bausysteme GmbH (Austria), Mayr-Melnhof Holz Holding AG (Austria), HASSLACHER Holding GmbH (Austria), Structurlam Mass Timber Corporation (Canada), Ed. Züblin AG (Germany), Eugen Decker Holzindustrie KG (Germany), Sterling Lumber Company (US), and W. u. J. Derix GmbH & Co. (Germany).|
|Key Market Opportunities||
|Key Market Drivers||Construction of high-rise buildings are rising|
Frequently Asked Questions (FAQ) :
The global cross laminated timber market is expected to expand at 12% CAGR from 2020 to 2027.
Investments in residential and commercial projects is the major driver of the global cross laminated timber market.
Europe is expected to dominate in the global cross laminated timber market.
Adhesive-bound CLT can lead in market share till 2024.
Eugen Decker Holzindustrie KG, ante-Group, Binderholz Bausysteme GmbH, KLH Massivholz GmbH, Mayr-Melnhof Holz Holding AG, Structurlam Mass Timber Corporation, HASSLACHER Holding GmbH, Ed. Züblin AG, W. u. J. Derix GmbH & Co., Sterling Lumber Company, and Stora Enso are prominent names in the global cross laminated timber market.