04-Jan-2022 | Zion Market Research
According to findings of Zion Market Research, Cross Laminated Timber (CLT) industry garnered returns worth nearly US$ 957.12 million in 2020 and is forecast to register profits of approximately US$ 2,704.13 million by 2028. Moreover, Cross Laminated Timber (CLT) market is slated to record CAGR of almost 15.1% in 2021-2028. Furthermore, growth of cross laminated timber (CLT) market over assessment period is due to superior design flexibility & swift deployment of product. In addition to this, surge in demand for product in residential sector will spearhead expansion of cross laminated timber (CLT) business growth in forthcoming years. Massive use of cross laminated timber in stylish architecture will spur industry trends. Apart from this, cross-laminated timber enhances mechanical features and dimensional stability along with reinforcing rigidity, thereby enlarging scope of cross laminated timber (CLT) industry growth. However, moisture absorbing feature of wood can pose threat to expansion of cross laminated timber (CLT) industry over 2021-2028.
Adhesive Bonded Cross Laminated Timber Segment To Dominate Product Landscape By 2028
Demand for product over forecast timeframe can be attributed to utilization of high strength adhesives for plank bonding in residential, commercial, and educational institutions. In addition to this, production costs of adhesive bonded cross laminated timber is lesser than mechanically fastened cross laminated timber and hence is preferred over latter. Furthermore, the adhesive bonded cross laminated timber panels can be transformed into biofuel pellets at end of its life cycle. This will increase popularity of adhesive bonded cross laminated timber over coming years, thereby driving segmental growth. Additionally, use of adhesive bonded cross laminated timber panels results in low wood wastage in construction sector and this will augment product penetration in construction activities.
Residential Sector To Contribute Majorly Towards Market Revenue Share Over 2021-2028
Rise in use of cross laminated timber in residential building constructions can be attributed to need for eco-friendly products in construction of buildings & structures. Apart from this, necessity of construction materials possessing seismic bearing capacity for constructing of huge structures & high rise buildings will spur segmental growth. Furthermore, product durability and recyclability will expedite its use in residential building construction activities, thereby increasing segmental expansion.
Europe To Account Majorly Towards Regional Market Share Over Forecast Timeframe
Growth of European market over forecast period can be credited to increase in green constructions in Europe as a result of growing renewable energy trends in continent. Apart from this, need for improving aesthetic appeal & visual appearance of wooden products will enhance regional market size. Apparently, rise in number of new entrants across cross laminated timber industry will result in exponential expansion of cross laminated timber market in Europe over forthcoming years.
Some of major participants of cross laminated timber (CLT) industry have strongly influenced it and will continue to do so even in near future. We have profiled them in our report and they are KLH Massivholz GmbH, Ed. Züblin AG, Sterling Lumber Company, HASSLACHER Holding GmbH, Structurlam Mass Timber Corporation, Eugen Decker Holzindustrie KG, Stora Enso Oyj, Nordic Structures, Binderholz Bausysteme GmbH, Mayr-MelnhofHolz Holding GmbH, and W. u. J. Derix GmbH & Co.
Browse the full “Cross Laminated Timber (CLT) Market- By Type (Adhesive Bonded CLT And Mechanically Fastened CLT), By Application (Residential Buildings, Educational Institutes, Government/Public Buildings, And Industrial & Commercial Spaces), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/cross-laminated-timber-market
The global Cross Laminated Timber (CLT) Market is segmented as follows:
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