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The global cross-laminated timber market was valued at US$ 1.07 Billion in 2020.
Growing demand for CLT from the construction sector for building different types of structures, including barns, houses, powerline towers, bridges, high-rise apartments, office buildings, etc., is currently driving the global cross-laminated timber market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous construction activities, thereby limiting the demand for cross-laminated timber.
Based on the product type, the global cross-laminated timber market can be segmented into custom and blank CLT, where blank CLT currently accounts for the highest market share.
Based on the element type, the global cross-laminated timber market has been divided into wall panels, flooring panels, roofing slabs, and others. Amongst these, wall panels exhibit a clear dominance in the market.
Based on the raw material, the global cross-laminated timber market can be bifurcated into spruce, pine, fir, and others. Currently, spruce accounts for the majority of the total market share.
Based on the bonding method, the global cross-laminated timber market has been categorized into adhesively bonded and mechanically fastened segments, where adhesively bonded lamination is the dominant segment in the market.
Based on the panel layers, the global cross-laminated timber market can be segregated into 3-ply, 5-ply, 7-ply, and others. Currently, 3-ply panels account for the majority of the overall market share.
Based on the adhesive type, the global cross-laminated timber market has been classified into polyurethane (PUR), phenol resorcinol formaldehyde (PRF), melamine-urea-formaldehyde (MUF), and others. Among these, polyurethane (PUR) accounts for the largest market share.
Based on the press type, the global cross-laminated timber market can be segmented into hydraulic, vacuum, pneumatic, and other. Currently, hydraulic presses hold the biggest market share.
Based on the storey class, the global cross-laminated timber market has been bifurcated into low-rise (1-4 storeys), mid-rise (5-10 storeys) and high-rise buildings (more than 10 storeys). Among these, low-rise buildings represent the most preferred segment.
Based on the application type, the global cross-laminated timber market can be divided into structural applications and non- structural applications. Currently, structural applications account for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the market.
Some of the major players in the global cross-laminated timber market include Stora Enso Oyj, KLHMassivholz GmbH, Binderholz GmbH, Mayr Melnhof Karton AG, Hasslacher Holding GmbH, XLam Limited, Sterling Lumber and Investment Company, Shilliger Holz AG, B&K Structures Ltd., Eugen Decker Holzindustrie KG, Structurlam Products Ltd., SmartLam, LLC, and Meiken Lamwood Corp.
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