According to the latest report by IMARC Group, titled " European Cross-Laminated Timber Market: European Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the European cross-laminated timber market size reached 1.6 Million Cubic Meter in 2022. Cross-laminated timber (CLT) is an engineered wood product consisting of layers of wood panels oriented at right angles to one another and glued together to form structural panels. It is a strong and solid structure made from softwood species, such as spruce, pine, and fir. It is used as an alternative to form the walls, roofs, floors, ceilings of a building, and multistorey taller wood construction. At present, key market players operating in Europe are introducing CLT panels with concrete to form timber concrete composite (TCC) to minimize noise transfer and vibrations.
European Cross-Laminated Timber Market Trends:
High standards of living and increasing renovation activities represent one of the primary factors catalyzing the demand for CLT in Europe. In addition, the growing inclination of consumers towards aesthetically appealing sustainable materials in the construction of buildings and infrastructure is contributing to the market growth. Moreover, the escalating demand for eco-friendly construction materials due to increasing consumer awareness about the impact caused to the environment due to the manufacturing of cement and bricks is bolstering the market growth. Apart from this, the increasing adoption of timber due to better thermal and acoustic insulation as compared to conventional construction materials, such as glass and plastic is creating a positive market outlook. Other factors, such as the rising awareness about the benefits of CLT and improvement in the logistics are stimulating the growth of the market in Europe. On account of the aforementioned factors, the market is anticipated to reach a value of 2.9 Million Cubic Meter by 2028, exhibiting a CAGR of 11.15% during 2023-2028.
- Based on the application, the market has been classified into residential, educational institutes, government/public buildings, and commercial spaces. At present, the residential sector holds the largest market share.
- On the basis of the product, the market has been segmented into custom CLT and blank CLT. Custom CLT currently accounts for the biggest market share.
- Based on the element type, the market has been classified into wall panels, flooring panels, roofing slabs, and others. Presently, wall panels exhibits a clear dominance in the market.
- On the basis of the raw material type, the market has been classified into spruce, pine, fir, and others. At present, spruce dominatged the European CLT market.
- Based on the bonding method, the market has been classified into adhesive bonded and mechanically fastened. Presently, Adhesive bonded holds the leading position in the market.
- On the basis of the panel layers, the market has been classified into 3-Ply, 5-Ply, 7-Ply, and others.
- Based on the adhesive type, the market has been classified into PUR (Polyurethane), PRF (Phenol Resorcinol Formaldehyde), and MUF (Melamine-Urea-Formaldehyde). The PUR accounts for the majority of the total market share.
- On the basis of the press type, the market has been classified into hydraulic press, vacuum press, pneumatic press, and others. The hydraulic press currently holds the biggest market share.
- Based on the application type, the market has been classified into structural applications and non-structural applications. At present, structural applications accounts for the majority of the total market share.
- Based on the major countries, the market has been divided into Austria, Germany, Italy, Switzerland, Czech Republic, Spain, Norway, Sweden, United Kingdom, and others. Amongst these, Austria enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of the key players include Stora Enso Oyj, KLH Massivholz GmbH, Binderholz GmbH, Mayr Melnhof Karton AG, HASSLACHER Holding GmbH.
|Base Year of the Analysis
||US$ Million, Million Cubic Metres
||Application, Product Type, Element Type, Raw Material Type, Bonding Method, Panel Layers, Adhesive Type, Press Type, Storey Class, Application Type, Country
||Austria, Germany, Italy, Switzerland, Czech Republic, Spain, Norway, Sweden, United Kingdom, Others
||Stora Enso Oyj, KLH Massivholz GmbH, Binderholz GmbH, Mayr Melnhof Karton AG and Hasslacher Holding GmbH
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