Cross Laminated Timber Market

Market Overview:

The global cross-laminated timber market size reached 2,105,690 Cubic Metres in 2022. Looking forward, IMARC Group expects the market to reach 4,241,413 Cubic Metres by 2028, exhibiting a growth rate (CAGR) of 12.17% during 2023-2028. The rising development of standard product code, presence of large amount of floor space, and various favorable government policies represent some of the key factors driving the market.      

The Favorable Government Policies Toward Green Alternatives Augmenting the Market Growth

The cross-laminated timber market has been experiencing continuous growth on account of favorable initiatives undertaken by governing agencies for promoting the application of green alternatives in building and construction industry. It can also be attributed to the rising environmental concerns. Besides this, cross-laminated timber is environmental-friendly and offers greener alternative to the conventional building materials. 

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is concentrated with few players accounting for majority of the total production. Also, there is high competition among existing players due to the high growth aspects and to capture a large number of market share. The volume of new players entering the cross laminated timber industry is low due to high capital costs. Moreover, the presence of big players and stringent building codes in several countries prevents the new entrants planning to invest in the market.

What is Cross-Laminated Timber?

Cross-laminated timber (CLT) refers to a wood panel that comprises various layers of lumber boards that are stacked crosswise and glued together to enhance dimensional stability, in-plane and out-of-plane strength, and stiffness and splitting resistance. It is manufactured through various processes, such as lumber selection, lumber grading and jointing, adhesive application, planning, and pressing. It is lightweight, flexible, eco-friendly, and cost-effective and offers easy and fast installation due to prefabrication and pre-cutting. It is highly suitable for floors, walls, and roofs of a room and its installation does not produce any harmful emissions. Besides this, it offers high performance as compared to concrete or steel. As a result, CLT finds applications in residential, educational institutes, government or public buildings, and commercial spaces across the globe.    

COVID-19 Impact:

The COVID-19 pandemic outbreak has caused a severe problem for the cross-laminated timber industry and imposed unprecedented challenges on several countries. It has impacted the ongoing construction projects in numerous ways. The supply chains were severely disrupted due to the delay in the workforce environment and a large amount of wood pile stuck in warehouses. The leading CLT manufacturers were either working on less capacity or had to completely halt their production, which increased the backlog on CLT manufacturers. Many projects have been paused due to the lack of availability of raw materials. Besides this, governing agencies of various countries have ordered individual businesses to undergo a complete shutdown. Apart from this, limited public transportation and travel bans also caused problems as sub-contractors were not accessible to work or provide the required material.

Cross Laminated Timber Market Trends:

At present, the rising demand for cost-effective and durable materials across the globe represents one of the key factors supporting the growth of the market. Besides this, the growing demand for CLT, as it requires a shorter period of construction time as compared to conventional construction materials, such as concrete and bricks, is offering a positive market outlook. Apart from this, the rising focus on green solutions for the building and construction industry is offering lucrative growth opportunities to industry investors. Moreover, governing agencies of various countries are encouraging the adoption of CLT as it is environment friendly and does not release any harmful emissions in the environment, which is positively influencing the market. In addition, the growing adoption of CLT as it can be used for an entire building or any combination of wall, floor or ceiling, and roof applications, is contributing to the growth of the market. Furthermore, the rising awareness about the benefits of CLT over traditional construction materials is strengthening the market growth.   

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cross-laminated timber market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application, product type, element type, raw material type, bonding method, panel layers, adhesive type, press type, storey class, and application type.

Application Insights:

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

The report has provided a detailed breakup and analysis of the cross-laminated timber market based on the application. This includes residential, educational institutes, government/public buildings, and commercial spaces. According to the report, residential represented the largest segment due to the increasing demand for flexible designs and stylish architecture in homes. 

Product Type Insights:

• Custom CLT
• Blank CLT
   

A detailed breakup and analysis of the cross-laminated timber market based on the product type has also been provided in the report. This includes custom CLT and blank CLT. According to the report, custom CLT accounted for the largest market share due to their convenience and eco-friendliness. In addition, custom CLT panels are easily manufactured at custom dimensions provided by the clients, which is positively influencing the market.                      

Element Type Insights:

• Wall Panels
• Flooring Panels
• Roofing Slabs
• Others
   

A detailed breakup and analysis of the cross-laminated timber market based on the element type has also been provided in the report. This includes wall panels, flooring panels, roofing slabs, and others. According to the report, wall panels accounted for the largest market share as they allow the insulation layer to be continuous around the structure that assists in improving energy performance and reducing thermal bridging.

Raw Material Type Insights:

• Spruce
• Pine
• Fir
• Others
   

A detailed breakup and analysis of the cross-laminated timber market based on the raw material has also been provided in the report. This includes spruce, pine, fir, and others. According to the report, spruce accounted for the largest market share due to various benefits offered, which include light weight, moderate strength, good resiliency, medium hardness, and low resistance to abrasion. Moreover, spruce is easy to handle and dries quickly, which is catalyzing its demand across the globe.        

Bonding Method Insights:

• Adhesively Bonded
• Mechanically Fastened
   

A detailed breakup and analysis of the cross-laminated timber market based on the bonding method has also been provided in the report. This includes adhesively bonded and mechanically fastened. According to the report, adhesively bonded accounted for the largest market share as it is user-friendly and allows for permanent assembly of similar and dissimilar types of wood. Also, it offers the distribution of stress on the load, ability to resist flex and vibrations, and superior chemical and heat resistance.      

Panel Layers Insights:

• 3-Ply
• 5-Ply
• 7-Ply
• Others
   

A detailed breakup and analysis of the cross-laminated timber market based on the panel layers has also been provided in the report. This includes 3-ply, 5-ply, 7-ply, and others. According to the report, 3-ply accounted for the largest market share as it is utilized for shear walls, load bearing walls, demising wall assemblies, and floor slabs.  

Adhesive Type Insights:

• PUR (Polyurethane)
• PRF (Phenol Resorcinol Formaldehyde)
• MUF (Melamine-Urea-Formaldehyde)
• Others
   

A detailed breakup and analysis of the cross-laminated timber market based on the adhesive type has also been provided in the report. This includes PUR (polyurethane), PRF (phenol resorcinol formaldehyde), MUF (melamine-urea-formaldehyde), and others. According to the report, PUR accounted for the largest market share as it reduces glue water and causes less environmental damage as compared to traditional adhesives.  

Press Type Insights:

• Hydraulic Press
• Vacuum Press
• Pneumatic Press
• Others
   

A detailed breakup and analysis of the cross-laminated timber market based on the press type has also been provided in the report. This includes hydraulic press, vacuum press, pneumatic press, and others. According to the report, hydraulic press accounted for the largest market share as it is economical, highly sturdy, and have minimum deflection under maximum load condition.   

Storey Class Insights:

• Low-Rise Buildings (1-4 Storeys)
• Mid-Rise Buildings (5-10 Storeys)
• High-Rise Buildings (More than 10 Storeys)
   

A detailed breakup and analysis of the cross-laminated timber market based on the storey class has also been provided in the report. This includes low-rise buildings (1-4 Storeys), mid-rise buildings (5-10 Storeys), and high-rise buildings (more than 10 Storeys). According to the report, low-rise buildings accounted for the largest market share as they are utilized for interior and exterior walls, elevated floor slabs, roof deck, and parapet walls.  

Application Type Insights:

• Structural Applications
• Non-Structural Applications
   

A detailed breakup and analysis of the cross-laminated timber market based on the application type has also been provided in the report. This includes structural applications and non-structural applications. According to the report, structural accounted for the largest market share as it used in combination with glulam as a hybrid construction solution.                       

Regional Insights:

• Europe
  • Austria
  • Germany
  • Italy
  • Switzerland
  • Czech Republic
  • Spain
  • Norway
  • Sweden
  • United Kingdom
• North America
  • United States
  • Canada
• Asia-Pacific
  • Australia
  • New Zealand
  • Japan
  • China
  • Taiwanz
     

The report has also provided a comprehensive analysis of all the major regional markets, which include Europe (Austria, Germany, Italy, Switzerland, Czech Republic, Spain, Norway); North America (the United States, Canada); Asia Pacific (Australia, New Zealand, Japan, China, Taiwan). According to the report, Europe was the largest market for cross-laminated timber. The increasing initiatives to promote cross-laminated timber, such as green building movement in Austria is contributing to the growth of the market. Other factors driving the Europe cross-laminated timber market included the rising demand from residential and commercial applications.      

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global cross-laminated timber market. Some of the companies covered in the report include:

• Stora Enso
• KLH
• Binderholz
• Mayr Melnhof
• Hasslacher
• XLam Limited
• Sterling Lumber
• Shilliger Holz AG
• Eugen Decker Holzindustrie KG
• Structurlam
• SmartLam
• Meiken Lamwood Corp.
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cross-laminated timber market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global cross-laminated timber market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cross-laminated timber industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.