Cross Laminated Timber Market Segmented By Mechanically Fastened, Adhesive-Bonded in Walls, Ceilings, Roof Structures, Beams for Residential, Commercial and Institutional Industrial
Industry: Chemicals and Materials
Published Date: May-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 183
Report ID: PMRREP25432
The global cross laminated timber market is slated to reach US$ 708.4 Mn in the year 2022 and witness a decent CAGR of 6.3% from 2022 to 2026. The year 2026 is expected to see the market reach US$ 903.9 Mn.
| Attribute | Key Insights |
|---|---|
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Cross Laminated Timber Market Size (2022) |
US$ 708.4 Mn |
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Projected Market Value (2026) |
US$ 903.9 Mn |
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Global Market Growth Rate (2022-2026) |
6.3% CAGR |
The global cross laminated timber market was worth US$ 664.2 Mn in the year 2021 and is expected to grow 1.2 times in the year 2022.
The current scenario is such that new-fangled timber technologies are showcasing properties similar to concrete especially the cross laminated timber (CLT).
Cross laminated timber is capable of having a wide range of dimensions – from 2.40 m to 4 m high, and till 12 meters long. As such, with cross orientation of transverse and longitudinal layers, timber’s degrees of dilation and contraction at board level get remarkably reduced, that too, with improvement in shape stability and static load.
“Quest for Environmentally-friendliness to ride over”
Environmental hazards are being looked after these days while venturing into anything new. Since cross laminated timber is amongst the environmentally sustainable construction material, governments all over are supporting the usage in construction vertical. This is exemplified from the fact that India’s Public Works Department, in the year 2020, did lift the ban on usage of timber in habitat projects and construction of buildings for encouraging local economy. Timber has been reported to show better acoustic and thermal insulation. These factors are there to take the cross laminated timber market by storm in the near future.
“The wood-based fact to hamper”
Cross laminated timber (CLT) being a wood-based material, doesn’t play that safe when it comes to protection against moisture and fire. The fact that accumulation of moisture in floors, walls, and edifices could result in bacteria and mold being formed. This could prove to be disastrous to infrastructure. These factors could act as restraining factors to cross laminated timber market.
“Europe to continue being the torchbearer”
Europe holds 67.1 of the overall market share. This could be credited to “Green Building Movement” herein. Plus, the ongoing trend implies usage of wooden products in various construction applications. The countries like Germany, the UK, France, and Italy dominate the market for Europe. UK-Housing Fit For Nature says that close to 1.5 Mn new houses would be made from timber by the year 2022. Also, the government of the UK has gone on air stating that it has allocated US$ 4.87 Bn for constructing 150K new houses by the year 2022 with timber being an indispensable part. Also, over 50K affordable homes are exoected to be built by the year 2038 in the Greater Manchester area.
“High-strength Adhesives to push the use of Adhesive Bonded CLT”
Adhesive bonded cross laminated timber (CLT) proves to be cost-effective as compared to the mechanically fasted one as minimal machinery is used. Plus, it’s possible to convert adhesive-bonded CLT panels to biofuel pellets as their life cycle comes to an end. Wastage of wood could also be minimized as custom manufacturing of these panels is easily possible.
Production of mechanically fastened CLT is a bit complex as highly skilled labor is needed to operate fastening machines. Also, there are greater chances of raw material getting wasted as screws could be applied improperly. The cross laminated timber market is expected to gloat over adhesive-bonded CLT.
“Vaccination to Encourage Players to Bounce Back”
The outbreak of Covid-19 did affect the cross laminated timber market adversely in 2020 and 2021. This could be reasoned with the fact that as cross laminated timber turns out to be a lopsided priority when the HQ (health quotient) is at stake, the market related to the same is bound to take a back seat. However, post vaccination drives being conducted across the globe, the market is putting its best possible foot forward to bounce back. The year 2022 is looked upon as the year of comeback for cross laminated timber market.
The key players are making massive investments in research regarding development of cross laminated timber of various applications and grades. As of now, research pertaining to developing Xlam from the lumber (obtained from bamboo), followed by improvement in performance against acoustic variation and temperature fluctuations is “ON”.
| Attribute | Details |
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Forecast Period |
2022-2026 |
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Historical Data Available for |
2013-2021 |
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Market Analysis |
US$ Mn/Bn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
Cross Laminated Timber Market by Type
Cross Laminated Timber Market by End-use
Cross Laminated Timber Market by Application
Cross Laminated Timber Market by Region
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The cross laminated timber Market is expected to be worth US$ 708.4 Mn in the year 2022 and grow 1.27 times by the year 2026.
The market for cross laminated timber is expected to reach US$ 903.9 Mn by 2026, expanding at a CAGR of 6.3%.
Europe holds the largest market share (67.1%).
Store Enso Oyo, Binderholz GmbH, Mayr-Melnhof Holz Holding AG, KLH Massivholz GmbH, HASSLACHER Holding GmbH, Structurlam Mass Timber Corporation, Eugen Decker Holzindustrie KG, Ed. Züblin AG, Schilliger Holz AG, W. u. J. Derix GmbH & Co., Weinberger-Holz GmbH
China and Japan hold 4.4% and 5.7% respectively of the market share.
