Global cross-laminated lumber market was worth USD 558.6 millions in 2016. It is expected to grow at a CAGR 15.7% during the forecast period. The market will grow due to rising awareness of wood as a building material and global sustainability concerns. The market will grow due to shifting consumer preferences for wood-based construction and its low cost, high thermal efficiency, and insulation properties.
Cross-laminated timber (CLT), is seeing a rise in demand as wood evolves as a low-cost, sustainable alternative to concrete and steel. Cross-laminated lumber is expected to grow in popularity due to its ease of construction, durability and affordability. The market is expected to benefit from rising awareness and popularity in North America, Europe and Asia Pacific.
U.S. Cross-Laminated Timber Market Revenue, Type, 2014-2025 (USD Million).
Because of their superior durability and performance, adhesively bonded products dominated the market. This segment is expected to hold a substantial market share during the forecast period.
CLT market growth is expected to be driven by key attributes such as earthquake and fire resistance. The industry's major players are always striving to improve their technological capabilities in order to produce high-quality products and increase efficiency.
Industry growth will be challenged by the wood's tendency to absorb moisture from the air. For pine and spruce to grow, they need specific climatic conditions. Unfavorable climatic conditions could limit their ability to supply raw materials for the market. The regulations set out by various timber authorities in different areas require that manufacturers comply with them.
In 2016, the market share for cross-laminated timber in 2016 was 88.0%. Because of its superior strength and seismic performance, this segment will see significant demand in the coming eight years. But, it is expected that there will be a decrease in demand due to environmental concerns about adhesives' carbon emission properties.
This segment, which is mechanically fastened, was valued at USD 63.7 millions in 2016. It will likely be the fastest-growing segment during the forecast period due to its efficient recycling. In the next few years, the demand for environmentally-friendly products will increase due to shifting consumer preferences. Due to increasing demand from North American and European regions, the mechanically fastened segment will likely gain significant market share.
2016 (%)
Due to growing interest in wood as a building material, Germany and Austria accounted for 68.29% each of the European market revenues in 2016. Austria is home to the world's largest supply of softwood pine and spruce, and also has the highest production of cross-laminated lumber. Industry growth is expected to be spurred by the increasing use of crosslaminated timber for residential and commercial purposes over the next eight year.
In 2016, the North American market for cross-laminated lumber was worth USD 118.8 millions. Cross-laminated timber is increasingly being used in residential and institutional applications. This has led to an increase in demand for cross-laminated lumber in North America. Industry growth will likely be influenced by the growing demand for luxury and stylish apartments. Market growth will also be driven by increasing product use in residential applications like walls, floors, ceilings, and other types of flooring. From 2017 to 2025, North America will likely remain the second largest market.
Higher production is likely to be fueled by the relocation of manufacturing facilities to Australia or New Zealand. The rising awareness of cross-laminated wood in emerging economies such as China and Japan will likely lead to high-rise residential apartments and commercial buildings.
Stora Enso and Mayr-Melnhof Holz, Binderholz GmbH. XLam Limited. SmartLam. Sterling Lumber are key players in this market. To strengthen its presence in China, Stora Enso spent USD 890 million on a Guanxi plant in 2016.
Cross-laminated timber manufacturers continue to concentrate on technological advances in their product. These developments, combined with competitive pricing, will help them increase their market share during the forecast period. Cross-laminated timber is a complex product that requires companies to invest heavily in research and development. This helps overcome any stumbling blocks and improves product quality.
Attribute |
More Details |
Base year for estimation |
2016 |
Historical/Actual data |
2014 and 2015. |
Forecast period |
2017 - 2025 |
Representation of the market |
From 2017 to 2025, revenue in USD million and CAGR |
Regional scope |
North America, Europe and Asia Pacific, South & Central America, Middle East & Africa, Asia Pacific, South & Central America. |
Country coverage |
U.S., Canada, Mexico, Austria, Germany, Switzerland, Italy, New Zealand, Japan, China |
Report coverage |
Forecast revenue, competitive landscape, growth factors and trends |
15% off customization scope (equivalent of 5 analyst working days). |
We will customize the report to provide you with specific market information that is not included in the current report. |
This report predicts revenue growth at both the country and global levels. It also provides analysis of the most recent trends and opportunities in each sub-segment from 2014 through 2025. Up Market Research has divided the global cross-laminated wood market by product and region.
Product Outlook (Revenue USD Million; 2014-2025)
Adhesive Bonded
Mechanically Fastened
Regional Outlook (Revenue USD Million; 2014-2025)
North America
The U.S.
Canada
Mexico
Europe
Austria
Germany
Switzerland
Italy
Rest of Europe
Asia Pacific
New Zealand
Japan
China
Rest of Asia Pacific
South & Central America
The Middle East and Africa
Up Market Research published a new report titled “Cross Laminated Timber Market research report which is segmented by Type (Mechanically Fastened, Adhesive Bonded), By Players/Companies XLam Limited, SmartLam, Stora Enso invested USD 890 million in a plant in Guanxi, Mayr-Melnhof Holz, Binderholz GmbH, China to strengthen its presence in the country, Stora Enso, Sterling Lumber In 2016”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Cross Laminated Timber Market Research Report |
By Type | Mechanically Fastened, Adhesive Bonded |
By Companies | XLam Limited, SmartLam, Stora Enso invested USD 890 million in a plant in Guanxi, Mayr-Melnhof Holz, Binderholz GmbH, China to strengthen its presence in the country, Stora Enso, Sterling Lumber In 2016 |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 245 |
Number of Tables & Figures | 172 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type (Mechanically Fastened, Adhesive Bonded).
Cross Laminated Timber Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Cross Laminated Timber Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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