Cross Laminated Timber Industry Overview

The global cross laminated timber market size was estimated at USD 955.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.6% from 2021 to 2028.

Superior design flexibility and faster installation processes in comparison to other building materials are likely to benefit the market over the forecast period. The construction industry across the globe registered a steep decline due to the advent of COVID, with governments resorting to the suspension of all construction activities. This led to a sudden dip in the demand for cross laminated timber. However, the resumption of the construction activities during the later part of 2020 and 2021 led to industry growth.

The market in the U.S. is expected to exhibit growth owing to the high demand from the end-user segment. Factors such as high disposable income, large market size, the ability of established players to mass-produce, and an extensive range of products are expected to boost the cross laminated timber market growth in the region.

Gather more insights about the market drivers, restrains and growth of the Global Cross Laminated Timber Market

The transition as a trend towards using environment-friendly products that have a minimum adverse impact, as per the VOC regulations of U.S. EPA, and green building initiatives are the major forces positively impacting the market. The growing awareness among the consumers pertaining to the benefits of Cross Laminated Timber (CLT) in the construction industry is projected to drive the market.

CLT-based buildings have become common in North America and European regions. The majority of the construction in these areas are now utilizing wood-based materials to improve the overall thermal performance and durability of the structure. Major construction companies across the globe are increasingly shifting toward cross laminated timber and other wood-based construction materials.

Browse through Grand View Research's Green Building Materials Industry Research Reports.

• Insulated Concrete Form (ICF) Market: The global insulated concrete form (ICF) market size was estimated at USD 815.5 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2020 to 2028. Rising acceptance of insulated concrete forms in temperate regions including Europe and North America on account of their superior thermal insulation properties is expected to drive their demand.

• Structural Insulated Panels Market: The global structural insulated panels market size was valued at USD 11.17 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. Favorable green building standards and regulations for the adoption of building insulation materials for lowering the overall energy consumption coupled with the growing investments in the development of cold chain infrastructure across the world are the key factors that are expected to drive the market.

Cross Laminated Timber Market Segmentation

Grand View Research has segmented the global cross laminated timber market on the basis of product, application, and region:

Cross Laminated Timber Product Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 - 2028)

• Adhesive Bonded Cross Laminated Timber

• Mechanically Fastened Cross Laminated Timber

Cross Laminated Timber Application Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 - 2028)

• Residential

• Institutional

• Commercial

• Others

Cross Laminated Timber Regional Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 - 2028)

• North America

• Europe

• Asia Pacific

• Central & South America

• Middle East & Africa

Key Companies profiled:

Some prominent players in the Global Cross Laminated Timber Market include

• Stora Enso Oyj

• Mayr-MelnhofHolz Holding AG

• Binderholz GmbH

• XLam

• Sterling Company

• SchilligerHolz AG

• KLH Massivholz GmbH

• B&K Structures

• Eugen Decker &WebMan

• Structurlam Mass Timber Corporation

• SmartLam NA

• MEIKEN LAMWOOD Corp

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