What Has Been the Growth Trajectory for the Cross Laminated Timber Market in Recent Years?
The cross laminated timber market has seen considerable growth due to a variety of factors.
• In recent times, there has been a swift expansion in the size of the cross laminated timber market. The market which was worth $1.6 billion in 2024 is expected to grow to $1.91 billion in 2025, experiencing a compound annual growth rate (CAGR) of 19.9%. Factors contributing to this growth during the historic period include sustainable construction methods, acknowledgement of green building certifications, cost-friendly construction alternatives, heightened consciousness around climate change, flexibility and liberty in architecture and design, as well as urbanization and population increase.
How Does the Forecast Look for the Cross Laminated Timber Market Size In The Coming Years?
The Cross Laminated Timber market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of cross laminated timber is anticipated to experience swift expansion in the upcoming years. It is projected to surge to $3.77 billion in 2029 at a compound annual growth rate (CAGR) of 18.5%.
The surge during the forecast period can be associated with a variety of factors such as regulatory backing for timber construction, concentration on carbon-neutral construction, rising demand for energy-efficient buildings, resilience towards earthquake-prone zones, its use in cost-effective housing projects, and consumer's inclination towards natural resources. Noteworthy trends during this period comprise conceptualizing sustainability and environmental advantages, technological breakthroughs in CLT production, amalgamation with building information modeling (BIM), deployment in hybrid construction systems, formulation of codes and standards, initiatives in education and training, along with financial stimuli and backing.
What Are The Leading Drivers Of Growth In The Cross Laminated Timber Market?
The cross-laminated timber market is poised for expansion as a result of the surge in construction activities. Construction activities, which involve any tasks related to construction at a locality, often utilize timber for building items such as doors, windows, cabinets, cupboards, shelves, tables and railings, thereby elevating the demand for cross-laminated timber. For example, Construction Digital, a UK based firm linking all construction brands, reported in June 2023 that the UK's construction sector is anticipated to experience a 12% growth in 2024, with an additional 3% boost in 2025. As such, the escalating construction activities are likely to fuel the development of the cross-laminated timber market.
How Are The Segments Defined Within The Global Cross Laminated Timber Market?
The cross laminated timber market covered in this report is segmented –
1) By Type: Adhesive Bonded, Mechanically Fastened
2) By Application: Residential, Institutional, Commercial, Other Applications
3) By End User: Structural, Non-Structural
Subsegments:
1) By Adhesive Bonded: Phenol-Formaldehyde Bonded, Polyurethane Bonded, Melamine-Urea-Formaldehyde Bonded
2) By Mechanically Fastened: Nail-Laminated Timber (NLT), Screw-Laminated Timber (SLT)
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How Are New Trends Expected To Influence The Growth Of The Cross Laminated Timber Market?
Leading enterprises in the cross laminated timber market are updating their manufacturing units to elevate efficiency, boost production, and satisfy the escalating demand for environmentally-friendly construction substances. For example, in March 2024, Timberlab, an American company specializing in fabricated wood products, revealed the launch of a new cross-laminated timber (CLT) facility in Oregon. The purpose of this facility is to amplify the manufacturing potential of CLT panels, fulfilling the rising need for sustainable construction products. This initiative aligns with Timberlab's plan to encourage green construction methods and satisfy the growing requirements of the construction sector.
Who Are the Key Players In The Cross Laminated Timber Market?
Major companies operating in the cross laminated timber market include:
• Maye-Melnhof Holz Holding AG
• Stora Enso Oyj
• Binderholz GmbH
• Eugen Decker Holzindustrie KG
• Schilliger Holz AG
• KLH Massivholz GmbH
• Structurlam Mass Timber Corporation
• XLam Limited
• Sterling Lumber
• B & K Structures Ltd.
• Smartlam NA
• HASSLACHER Gruppe
• Ante group
• Decker holding GmbH
• Meiken Lamwood Corporation
• PFS Corporation
• Blackwell Structural Engineers
• Boise Cascade Company
• Building Systems Design Inc.
• Canadian Timberframes Ltd.
• Nordic Structures
• Oregon Canadian Forest Products
• DRJ Wood Innovations
• Eco Building Systems
• TimberLab Solutions
• Eurban Ltd.
• Freres Lumber Co. Inc.
• Züblin Timber GmbH
• Holz100
• Lignotrend Produktions GmbH
• Massiv Lustenau GmbH
What Is The Most Dominant Region In The Cross Laminated Timber Market?
Europe was the largest region in the cross laminated timber market in 2024. Asia-Pacific is expected to be the fastest-growing region in the cross-laminated timber market report forecast period. The regions covered in the cross laminated timber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
