Cross-laminated timber, or CLT, is an engineered wood product which is made by stacking layers of wood panels in perpendicular directions and fastening them together. This cross-wise arrangement helps in increasing the structural strength, load-bearing capacity, dimensional stability and rigidity of the wood panels while reducing their shrinkage and swelling. CLT was first developed in Europe during the early 1990s and has now come to represent an important construction material in the region. It is used for a number of residential and commercial applications, either in combination with other building materials and wood products, or as standalone system. According to the latest report by IMARC Group, titled, “European Cross-Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the European CLT market reached a production volume of around 756,592 Cubic Metres, exhibiting a CAGR of 10.7% during 2011-2018.
CLT represents an inexpensive, flexible and time-saving substitute to conventional construction materials such as concrete, steel and masonry. This is a result of the prefabrication of CLT according to the desired dimensions and shapes which reduces on-site waste as well as saves installation time. Moreover, it represents an environment-friendly and sustainable building material as it is made of wood. CLT panels also help in reducing the amount of carbon dioxide present in the environment by trapping more than 1500 kg of CO2 per ton. The manufacturing and transportation of CLT produce lesser pollution as compared to the conventional building materials.
One of the major factors which has facilitated the demand for CLT in the European region is the green building movement which requires constructors to use sustainable and eco-friendly construction material. Amendments in the International Building Code 2015 allowing the use of CLT for large building has also helped in expanding the market. Enhanced marketing and increasing awareness about the advantages of CLT along with improved distribution channels represent some of the other growth inducing factors. As a result, the European CLT market is further expected to reach a production volume of 1,223,036 Cubic Metres by 2024.
The report has segmented the European CLT market on the basis of application. Some of the key application areas of CLT include educational institutes, residential, commercial spaces, and government and public buildings. On a regional basis, the report has segmented the market into Austria, Germany, Italy, Switzerland, Czech Republic, Spain, Norway, Sweden, United Kingdom and Others. Amongst these, Austria represents the largest producer accounting for the majority of the total production. Apart from the application sector and region, the European CLT market has also been segment on the basis of product type, element type, raw material type, bonding method, panel layers, adhesive type, press type, storey class and application type. The report provides historical as well as forecast trends for each of the above market segmentations. The report has also analysed the competitive landscape of the market with some of the key players being Binderholz, Stora Enso, KLH Massivholz, Mayr Melnhof and Hasslacher.
The report provides a techno-commercial roadmap for setting up a cross-laminated timber manufacturing plant. The study, which has been done by one of the world’s leading research and advisory firms, covers all the requisite aspects of the European cross-laminated timber market. This ranges from macro overview of the market to micro details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the European cross-laminated timber market in any manner.
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