Cross Laminated Timber (CLT) Market - By Type (Adhesive Bonded CLT and Mechanically Fastened CLT) and By Application (Residential Buildings, Educational Institutes, Government/Public Buildings, and Industrial and Commercial Spaces): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024

Global Cross Laminated Timber (CLT) market, which garnered revenue worth 603 (USD Million) in 2017, is predicted to accrue revenue worth 1,606 (USD Million) by 2024 and will record a CAGR of nearly 15% during 2018-2024.

17-Dec-2018 | Number of pages: 110 | Report Code: ZMR-3643 | Report Format : | Status : Published

Abstract

The global Cross Laminated Timber (CLT) market, which garnered revenue worth 603 (USD Million) in 2017, is predicted to accrue revenue worth 1,606 (USD Million) by 2024 and will record a CAGR of nearly 15% during 2018-2024. The report offers assessment and analysis of the Cross Laminated Timber (CLT) market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million).

Introduction

The demand for cross-laminated timber is surging with wood emerging as a low-cost and sustainable substitute for materials like steel and concrete that are used in construction activities. The massive utilization of cross-laminated timber due to its ease of construction and toughness, is likely to enhance the penetration across various regions over the next seven years. Escalating product popularity and awareness of its benefits in North American, European, and the Asia Pacific countries is likely to create demand for the product in the foreseeable future.

Market Growth Dynamics

Thriving construction sector will contribute majorly towards the market size over the forthcoming years. Rise in the population and industrialization will account notably towards the market value over the years ahead. Growing trend of green structures will further embellish the market trends. Today, concrete is being replaced by timber for reducing GHG emissions in the atmosphere and this has further facilitated the growth of the market in the recent years. However, the moisture absorbing property of timber is likely to pose a threat to the expansion of the market over the ensuing years.

Furthermore, reduction in the CLT construction costs with rise in the number of product suppliers will promote the business growth in the foreseeable future. Apart from this, need for short construction period will create lucrative growth avenues for the industry over the estimated timeframe. The need for wooden buildings due to its aesthetic value will propel the market scope. Apparently, fire resistance as well as ability to provide a strong shield to houses against earthquakes will result in massive product penetration across the globe over the ensuing years.

Europe To Dominate Overall Industry Size During 2018-2024

The geometric progression of the business in the region over the estimated timespan is due to large-scale acceptance of the product in the continent and surge in the funding of research activities in countries like Germany and Austria. In addition to this, easy access to timber in central European forests and presence of timber processing units in the continent will further add to the regional market proceeds in the forthcoming years. Large-scale use of the product in residential & commercial sector will boost the market growth in Europe. For the record, Austria is a major pine & spruce source and largest manufacturer of cross laminated timber globally.

Key players profiled in the report include tora Enso, Ed. Züblin AG, KLH Massivholz GmbH, BinderholzBausysteme GmbH, Structurlam Mass Timber Corporation, Eugen Decker Holzindustrie KG, Sterling Lumber Company, HASSLACHER Holding GmbH, Mayr-MelnhofHolz Holding AG, Nordic Structures, and W. u. J. Derix GmbH & Co.

This report segments the global cross laminated timber (CLT) market into:

Cross Laminated Timber (CLT) Market: Type Analysis

  • Adhesive bonded CLT
  • Mechanically Fastened CLT

Cross Laminated Timber (CLT) Market: Application Analysis

  • Residential Buildings
  • Educational Institutes
  • Government/Public Buildings
  • Industrial and Commercial Spaces

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

Thriving construction sector will contribute majorly towards the market size over the forthcoming years. Rise in the population and industrialization will account notably towards the market value over the years ahead. Growing trend of green structures will further embellish the market trends. Today, concrete is being replaced by timber for reducing GHG emissions in the atmosphere and this has further facilitated the growth of the market in the recent years. However, the moisture absorbing property of timber is likely to pose a threat to the expansion of the market over the ensuing years.

According to Zion market research report, the global Cross Laminated Timber (CLT) market, which garnered revenue worth 603 (USD Million) in 2017, is predicted to accrue revenue worth 1,606 (USD Million) by 2024 and will record a CAGR of nearly 15% during 2018-2024

Europe will contribute remarkably towards the global cross laminated timber (CLT) market share over the estimated timeline. The growth of the market in the region over 2018-2024 is credited to large-scale acceptance of the product in the continent and surge in the funding of research activities in countries like Germany and Austria. In addition to this, easy access to timber in central European forests and presence of timber processing units in the continent will further add to the regional market proceeds in the forthcoming years. Large-scale use of the product in residential & commercial sector will boost the market growth in Europe. For the record, Austria is a major pine & spruce source and largest manufacturer of cross laminated timber globally.

The key market players include tora Enso, Ed. Züblin AG, KLH Massivholz GmbH, BinderholzBausysteme GmbH, Structurlam Mass Timber Corporation, Eugen Decker Holzindustrie KG, Sterling Lumber Company, HASSLACHER Holding GmbH, Mayr-MelnhofHolz Holding AG, Nordic Structures, and W. u. J. Derix GmbH & Co.

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