Cross Laminated Timber Market Trends

  • Report ID: 5342
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Cross Laminated Timber Market Trends

Growth Drivers;

  • Growing demand for eco-friendly buildings: The rapidity of domestic applicability in the cross laminated timber market will be driven by increasing demand for more innovative wooden residential buildings with greater design freedom and aesthetic appeal such as multigenerational flats and single-family homes these demands for eco-friendly homes are friendly to nature and drives the market growth. The green building sector all across the globe is expected to have the potential to cut energy consumption by about 49% by 2050. When compared to non-green buildings, green buildings see an asset value rise of approximately 6%.
  • Ongoing surge of construction according to trend: As a result of increasing awareness about the product's advantages, for instance, design flexibility, fire resistance, greater thermal performance, cost efficiency, and some others, cross laminated timber has become increasingly popular in construction applications. Also, by replacing materials like steel or concrete with CLT, building and construction are becoming more and more energy-efficient, with a correspondingly less environmental impact. Businesses have also come to see the value of implementing sustainable or green practices. Furthermore, this demand has been supported by the use of a clean & noise-free construction method, reduced building time, and low costs.
  • Increasing Demand for Clean Labelled Products – Consumers have exhibited a strong concern for product integrity and functionality, which is a major deciding factor in their decision to buy these goods. Businesses can rely on clean labels and natural certification, which demonstrate the product's genuineness. The validity of the raw materials used in the finished product, which were supplied by an authorized body, is further increased by these labels. Manufacturers of cross-laminated wood who invest in this certification label should see a large rise in demand.

Challenges

  • Limited End-Use Industries in Cross Laminated Timber Market - There are just a few end-use industries for cross-laminated timber, and each of them has its own set of rules for using the timber. To comply with the rules, manufacturers cannot change the product's specs. Each industry receives products of nearly identical quality from many manufacturers. As a result, there is no room for product differentiation in the market for cross-laminated timber, which is a significant hindrance to the industry's expansion internationally.
  • Fire and moisture resistance May Become a hindrance to the Growth of the Market
  • High Initial Cost of the Cross Laminated Timber May Hamper the Market Growth

Cross Laminated Timber Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

14.2%

Base Year Market Size (2024)

USD 1.54 billion

Forecast Year Market Size (2037)

USD 8.65 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Shweta Patidar


  • Report ID: 5342
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of cross laminated timber is estimated at USD 1.71 billion.

The cross laminated timber market size was valued at USD 1.54 billion in 2024 and is expected to cross USD 8.65 billion by the end of 2037, registering more than 14.2% CAGR during the forecast period i.e., between 2025-2037. The market demand is being driven by growing need for cross laminated timers to cope with the increasing pollution around the world.

Europe industry is predicted to account for largest revenue share 33% by 2037, due to increasing popularity of urban and industrial projects in the region.

The major players in the market are Stora Enso, Mercer International, Semodu AG, Melnhof Holz, Binderholz GmbH, and others.
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