The Australia and New Zealand Cross Laminated Timber (CLT) market is currently at a nascent stage. This market, however, is expected to exhibit strong growth in the next five years with a number of residential and non-residential CLT projects in the pipeline. Cross laminated timber is a prefabricated engineered wood panel which belongs to a new class of products known as massive timber. It contains several layers of structural lumber boards which are stacked crosswise or at right angles and glued together in a hydraulic or vacuum press. Cross laminated timber is replacing conventional materials, such as steel, concrete and masonry due to its wide range of advantages. In Australia and New Zealand, the continuous population growth has created an increasing demand for residential and non-residential construction, thereby catalysing the cross laminated timber market in the region.
In 2018, the cross laminated timber market in Australia and New Zealand reached a volume of XX Cubic Metre and XX Cubic Metre respectively. Looking forward, the cross laminated timber market in Australia is projected to reach a volume of XX Cubic Metre by 2024, registering a CAGR of XX% during 2019-2024. The New Zealand cross laminated timber market, on the other hand, is anticipated to reach a volume of XX Cubic Metre by 2024, growing at a CAGR of XX% during 2019-2024.
In recent years, cross laminated timber has gained popularity in New Zealand as it is a cost-effective and environment-friendly building material which is utilized as shear walls, and roof and floor diaphragms in residential and commercial buildings. In Australia, the demand for cross-laminated timber is being spurred by the “Wood Encouragement Policy” initiated by the Government. The policy aims to educate architects and industry professionals about the benefits of cross laminated timber so as to promote the local wood or timber industry as well as encourage the use of sustainable building materials. Apart from this, the increasing non-residential construction for storage facilities, factories, etc. in both Australia and New Zealand has triggered the market growth. Some of the other factors facilitating the growth of the market are simple and accelerated on-site construction process, reduced costs for contractors and end-clients, and numerous benefits including design flexibility, less weight and structural capability.
This report provides a deep insight into the Australia and New Zealand cross laminated timber market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cross laminated timber industry in any manner.
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