Cross Laminated Timber (CLT) Market - Global Industry Analysis

Table Of Content

Methodology

Free Analysis

Cross laminated timber (CLT) is a pre-fabricated solid engineered wood panel, which is made from bonded layers of solid-sawn lumber. This lumber is bonded together using beech screws or dowels, adhesives, and aluminum nails.

Owing to sustainability concerns, the rising demand for CLT in construction and building applications due to its cost-effectiveness is likely to drive the global cross laminated timber (CLT) market. However, moisture trapping and wetting potential in certain climatic conditions might impede this market. Nevertheless, new market avenues are likely to create new opportunities in the global cross laminated timber (CLT) market in the years to come.

The cross laminated timber (CLT) market is divided based on the type and application. By type, the market is bifurcated into adhesive bonded CLT and mechanically fastened CLT. The adhesive bonded CLT segment held largest market share in 2017, owing to its seismic performance and greater strength. Both the segments are expected to witness rapid expansion in the future.

By application, the cross laminated timber (CLT) market is segmented into residential buildings, educational institutes, government/public buildings, and industrial and commercial spaces. Residential buildings held the largest market share in 2017. This was due to the fact that residential buildings use CLT in roofs, ceilings, and walls. Walls and flooring made from CLT are generally assembled before transporting them to project sites. The rising number of residential construction projects is anticipated to fuel the cross laminated timber (CLT) market over the forecast time period.

By geography, Europe dominated the global cross laminated timber (CLT) market and accounted for around 60% market share in 2017. The presence of major manufacturers, such as Mayr-MelnhofHolz Holding AG, Stora Enso, BinderholzBausysteme GmbH, HASSLACHER Holding GmbH, and KLH Massivholz GmbH, in Europe is attracting a large number of CLT customers. The consumption of CLT in Germany is higher than in other countries, due to CLT’s widespread acceptance among builders and architects. In Asia Pacific, New Zealand, Australia, and Japan are major consumers of CLT. Earthquake-prone countries, such as Japan and India, have shown significant interest in using cross laminated timber as a construction material for residential and non-residential buildings. North America’s CLT demand was valued around USD 130.8 million in 2017, owing to the rising CLT use in residential and institutional applications. Increasing consumer demand for luxury and stylish apartments is anticipated to fuel this industry’s growth. The growing CLT use in residential applications, including floors, ceilings, and walls, is also estimated to drive this market. This region is projected to be the second largest market in the future. The Middle Eastern and African and Latin American regions are expected to witness moderate growth over the forecast time period.

The key manufacturers of the cross laminated timber (CLT) market are Stora Enso, KLH Massivholz GmbH, BinderholzBausysteme GmbH, HASSLACHER Holding GmbH, Mayr-MelnhofHolz Holding AG, Structurlam Mass Timber Corporation, Eugen Decker Holzindustrie KG, Nordic Structures, Sterling Lumber Company, Ed. Züblin AG, and W. u. J. Derix GmbH & Co.