Cross Laminated Timber Market Overview:
As per Maximize Market Research, a global business research and consultancy firm, the total global market for “Cross Laminated Timber Market” was valued at US$ 1.23 Bn. in 2022 and the total Cross Laminated Timber revenue is expected to grow at 14.2% from 2023 to 2029, reaching nearly US$ 3.12 Bn.
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Cross Laminated Timber Market Dynamics: The International Building Code (IBC) traditionally required an additional clearance procedure for mass timber construction, which raised project costs and durations. Contrarily, the 2021 IBC revisions remove this obstacle by allowing wood structures with up to 18 stories. Many countries and states are quickly implementing this new code for large-scale forestry projects, especially in regions with historically high timber output. Several European countries have already changed their building codes to permit considerably taller wood constructions.
Cross Laminated Timber Market Scope and Methodology
The primary source involved interviews with significant market leaders and industry experts including business owners and marketing specialists while secondary sources are a combination of the reviews of the financial and annual reports of top manufacturers. For better information on market penetration, competitive landscape demand analysis, and regional analysis are taken at the local, regional, and global levels. The report analyses an estimation of the market size of the Cross Laminated Timber market along with current as well as future trends. The report provides an in-depth analysis of the key development, marketing strategies, supply side and demand side indicators and company profiles of the market owners, market leaders, potential players and new entrants. The bottom-up approach was used in the report to estimate the Cross Laminated Timber Market. The primary and secondary data sources were used to collect data.
Cross Laminated Timber Market Regional Insights:
The Cross Laminated Timber market demonstrates extensive segmentation across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report offers a comprehensive evaluation of various aspects, encompassing factors, market dimensions, growth pace, and regional import-export dynamics. This analysis delves into both local and country levels within each region.
Cross Laminated Timber Market Segmentation:
by Type
Adhesive Bonded
Mechanically Fastened
The segment of adhesively bonded CLT is anticipated to expand at a CAGR of 6.8% over the course of the projected period. Demand is anticipated to increase across a range of application industries, including residential, institutional, commercial, and others, due to the use of high-strength adhesives for plank bonding. Adhesive bonded cross-laminated wood has a cheaper manufacturing cost than mechanically fastened CLT since less machinery is required. The adhesive-bonded cross-laminated wood panels may also be turned into biofuel pellets at the end of their useful lives. There is little wood waste because these panels are built specifically to the building’s specifications for their final size.
The construction of mechanically fastened CLT involves mechanically fastening three or more layers of lumber together with screws and nails. Using adhesives
by Application
Residential
Institutional
Commercial
Others
Due to the growing use of environmentally friendly construction materials and seismic capacity, the residential application segment accounted for more than 40% of the global revenue share in 2022. Over the course of the forecast period, it is anticipated that consumption will rise in earthquake-prone regions like Japan and Mexico. The residential sector is projected to experience market expansion due to CLT’s higher structural strength and recyclable nature. Growing government spending in North America, Europe, and Asia-Pacific for the use of environmentally friendly building materials to lessen the sector’s carbon footprint is projected to fuel segment expansion.
by Raw Material Type
Spruce
Fir
Pine
Larch
Others
by End-Use
Structural
Non-structural
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Cross Laminated Timber Market Key Players:
1. Western Structures, Inc. (US)
2. Freres Lumber Co. (US)
3. Sterling Company (US)
4. DR Johnson Wood Innovations (US)
5. SmartLam NA (US)
6. DRJ Wood Innovations (US)
7. LignaTerra (US)
8. Nordic Structures (Canada)
9. StructureCraft (Canada)
10.Structurlam CLT Corporation (Canada)
11.Eugen Decker & WebMan (Germany)
12.B&K Structures (UK)
13.Taylor Maxwell Group Ltd. (UK)
14.Stora Enso Oyj (Finland)
15.Mayr-Melnhof Holz (Austria)
16.Binderholz GmbH (Austria)
17.KLH Massivholz GmbH (Austria)
18.Hasslacher Holding GMBH (Austria)
19.SchilligerHolz AG (Switzerland)
20.Essepi Srl (Italy)
21.Holmen AB (Sweden)
22.Setra Group AB (Sweden)
23.Rambøll Group A/S (Denmark)
24.XLam (NewZealand)
25.Vistek Pty Ltd (Singapore)
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Key questions answered in the Cross Laminated Timber Market are:
- What is Cross Laminated Timber?
- What was the Cross Laminated Timber market size in 2022?
- What are the different segments of the Cross Laminated Timber Market?
- What growth strategies are the players considering to increase their presence in Cross Laminated Timber?
- What are the upcoming industry applications and trends for the Cross Laminated Timber Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Cross Laminated Timber Market?
- Who are the key players in the Cross Laminated Timber market?
- What segments are covered in the Cross Laminated Timber Market?
- Who are the leading companies and what are their portfolios in Cross Laminated Timber Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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