Cross-Laminated Timber Market Size Worth USD 2,021.29 Million By 2027 – Reports and Data

Reports and data

shifting from concrete-based development to wood-based development with government initiatives to reduce pollution caused by construction activities are factors impacting the market

NEW YORK, NY, USA, October 18, 2021 /EINPresswire.com/ – The global cross-laminated timber market was valued at $ 786.71 million in 2019 and is expected to reach $ 2,021.29 million by 2027 , at a CAGR of 12.51%. By volume, the market is expected to reach 3,237.61 thousand cubic meters in 2027, compared to 1,411.55 thousand cubic meters in 2019, with a CAGR of 11.23%. The growing awareness of sustainable architectural methods, coupled with the growing number of cross-laminated timber producers and the growing interest in green houses, are factors that are increasing the growth of the market.

The shift from concrete-based to wood-based development as well as government initiatives to reduce pollution from construction activities around the world are factors impacting the market. On top of that, the steadily declining costs of CLT due to a greater number of vendors and shorter total project development time are having a positive impact on the industry. Strict government regulations regarding the use of wood for house construction (due to the risk of fire) are expected to be a major drag on the growth of the industry. However, some unique advantages like the ability to absorb seismic shocks better than concrete structures are also a reason why builders are interested in this material.

A report from the Institute of Civil Engineers (ICE), UK, shows that the construction industry is likely to be one of the fastest growing industrial sectors over the next ten years from 2020 and that the same will be true of economies around the world. The report shows that the volume of construction production will increase by 85% to more than $ 15.5 trillion globally by 2030, including the top three countries, China, the United States and India, will account for over 57% of this growth. China’s share of the global construction industry will increase slightly as growth slows down to 2030. By comparison, construction in the United States will grow faster than China, with an average growth of over 5%. % per year. The report estimates that India will overtake Japan to become the third largest construction market by 2021.

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The same report shows that apart from the top three countries, extraordinary growth in the construction industry is observed in Indonesia, while Mexico is expected to overtake Brazil in the Latin America region. In the European region, until 2025, the UK is an exceptionally growing industry overtaking Germany to become the largest industry in the European region and the sixth largest contributor by 2030. However, with the current situation of pandemic the world is experiencing, the construction industry is a major industry taking a huge hit due to the social distancing policy and many live projects currently being blocked or even canceled. The government’s stimulus measures can help the industry through initiatives such as tax breaks or direct cash disbursements, thus making the situation somewhat bearable in the short term. However, in the long term (over 3-4 years and more), the construction industry should regain its momentum.

The main players in the cross-laminated timber market are Stora Enso, Binder Holz, KLH Massivholz, Mayr-Melnhof Holz Holding AG and Hasslacher. The cross-laminated timber market is marked by the presence of several players.

Other key findings from the report suggest

• Cross-laminated timber is gaining more and more popularity because of its advantages. CLT is a sustainable alternative because it is renewable and sustainable by nature. CLT is made of wood which can store carbon from the environment. One kilogram of hardwood, (depending on the type), stores 1.5 to 2 kg of CO from the environment.
• Depending on the type, adhesive CLT takes the lion’s share of almost 72.18%. One of the advantages of adhesive bonded CLT is that the bonding is comparatively superior to mechanical bonded CLT. This adds to the overall quality of the CLT, producing an excellent quality CLT. However, a factor that may affect the growth of this segment over the forecast period is that the manufacture of adhesive bonded CLT is more expensive than mechanically bonded CLT, as the cost of adhesives add to the cost of production. . This results in a higher cost of the glued CLT and thus may restrain the growth of the segment during the expected period.
• Based on the application, the floor tile held the industry’s maximum share of 34.33% in 2019. Using CLT for floor tiles has many advantages, such as being durable by compared to most other flooring products, natural and easy to clean, among others. A good quality CLT floor can last over 100 years and can be reused at the end of its life. From a maintenance point of view, a wooden parquet is also a better choice compared to other flooring materials, as cleaning a wooden parquet is relatively easy, whereas a carpet floor can trap dirt and allergens and also has a shorter lifespan of 10 to 15 years on average. .
• The European region is expected to experience rewarding growth, emerging as the fastest growing industry, with the highest CAGR of 11.2% during the forecast period. With the growth of the construction industry in countries like Italy, UK, France and Germany, CLT usage is increasing in the region. Cross-laminated timber was first introduced and mainly produced in Europe and is therefore widely used. The main drivers of positive developments are green building movements, consistent marketing efforts, advancements in building codes and the development of distribution channels.

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This report forecasts revenue growth at the global, regional and country level, and provides analysis of the market trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, reports and data segmented Laminated Timber -cross. market based on type, application, end use and region:

Type (Revenue, USD Million, Volume, Thousand Cubic Meters; 2017-2027)
• Adhesive bonding
• Mechanical fixing

Application (Revenue, USD Million, Volume, Thousands Cubic Meters; 2017-2027)
• Walls
• Floor tiles
• Roof panels

End Use (Revenue, USD Million, Volume, Thousands Cubic Meters; 2017-2027)

• Residential
• Commercial
• Institutional

The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces Analysis. The report further explores key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and validated by analysts, industry experts and market professionals. The report also highlights recent mergers and acquisitions, joint ventures, collaborations, partnerships and product launches, among others.

The regional analysis covers the assessment of imports / exports, production and consumption ratios, supply and demand, costs, prices, estimated revenues and gross margins, and the presence of actors keys in the area. The report also offers information on revenue growth, market size, market share, the technological advancement, and the presence of key players in each region.

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The regional bifurcation of the cross-laminated timber market includes:

North America (United States, Canada, Mexico)
Europe (UK, Italy, Germany, France, rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)

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