The increase in construction activity is likely to drive future growth in the cross-laminated timber industry
VANCOUVER, BRITISH COLUMBIA, CANADA, February 7, 2025 /EINPresswire.com/ -- The global cross-laminated timber (CLT) market is experiencing significant growth, expanding from an estimated USD 1.17 billion in 2022 to USD 3.56 billion by 2030, at a compound annual growth rate (CAGR) of 14.9%.Market Drivers
The increasing demand for sustainable and eco-friendly construction materials is a primary factor propelling the growth of the CLT market. CLT offers superior design flexibility and faster installation processes compared to traditional building materials, making it an attractive choice for modern construction projects. Additionally, stringent environmental regulations and a growing focus on reducing carbon footprints in the construction industry are driving the adoption of CLT.
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Market Challenges
Despite its advantages, the CLT market faces challenges such as the high cost of production and limited awareness in certain regions. The initial investment for CLT manufacturing facilities can be substantial, potentially deterring new entrants. Moreover, building codes and standards in some areas have yet to fully incorporate CLT, hindering its widespread adoption.
Segment Insights
The adhesive-bonded segment dominates the CLT market, accounting for a significant revenue share. This method involves using adhesives to bond layers of timber, resulting in strong and durable panels suitable for various structural applications. In terms of end-use, the residential sector is a major consumer of CLT, driven by the material's aesthetic appeal and sustainability. However, the non-residential sector, including commercial and institutional buildings, is witnessing rapid growth due to increasing acceptance of wood-based construction solutions.
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Regional Outlook
Europe currently leads the CLT market, with a market share of 57.64% in 2023, owing to the region's advanced construction practices and strong emphasis on sustainability. North America is emerging as a significant market, supported by government-backed incentives and funding programs promoting sustainable construction practices.
Key Companies
Prominent players in the global CLT market include:
Stora Enso (Finland)
Mayr-Melnhof Holz (Austria)
Binderholz GmbH (Austria)
Hasslacher Holding GmbH (Austria)
Schilliger Holz AG (Switzerland)
KLH Massivholz GmbH (Austria)
Structurlam Mass Timber Corporation (Canada)
XLam NZ Limited (New Zealand)
These companies are focusing on capacity expansions, strategic partnerships, and product innovations to strengthen their market positions.
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Industry Updates
In May 2022, Stora Enso invested in ACDF Industrie SAS, becoming a 35% shareholder of the French wood processing company. This investment aligns with Stora Enso's growth strategy for mass timber building elements, enabling value-added, bespoke CLT solutions to its long-term French partners.
By Regional Outlook (Revenue, USD Million; 2024-2032)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Eric Lee
Emergen Research
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sales@emergenresearch.com
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