Cross Laminated Timber Market | Revolutionizing Modern Construction

Cross Laminated Timber Industry Overview

The global cross laminated timber (CLT) market size was estimated at USD 1.17 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 14.9% from 2023 to 2030. Superior design flexibility and faster installation processes in comparison to other building materials are likely to benefit the industry over the forecast period. Cross laminated timber is increasingly used in construction applications owing to the rising awareness about the product benefits including design flexibility, fire resistance, superior thermal performance, cost-effectiveness, and others. In addition, a clean & noiseless construction process, reduced construction time, and low cost have increased the demand for the same.

Gather more insights about the market drivers, restrains and growth of the Cross Laminated Timber Market

The market in the U.S. is expected to exhibit growth owing to the high demand from the end-user segment. Factors such as high disposable income, large market size, the ability of established players to mass-produce, and an extensive range of products are expected to boost the cross laminated timber market growth in the region.

Cross laminated timber (CLT) products are also characterized by superior performance in terms of the generation of job site waste. Since most of the CLT panels are pre-fabricated, there is minimal waste generation on the site. In addition, manufacturers re-use scrap for the fabrication of stairs or other prefabricated components. Moreover, the proven strength, cost competitiveness, and structural performance provided by CLT are expected to increase opportunities for the product for expanding applications in a wider range of buildings.

CLT is increasingly being used for building and construction by replacing materials like steel or concrete, subsequently leading to higher energy conservation and significantly reduced environmental impact. In addition, businesses have realized the significance of adopting green or sustainable practices. Intangible gains, such as enhanced employee performance, better work satisfaction, and upgrades in the company’s image associated with these practices have induced every organization to adopt sustainable measures.

The rising demand for environment-friendly products that have a minimum adverse impact, as per the VOC regulations of the U.S. EPA, and green building initiatives are the major forces positively impacting the market. The growing awareness among consumers about the benefits of CLT in the construction industry is projected to drive the market’s growth.

CLT-based buildings have become common in North America and European regions. A majority of the constructions in these areas are now utilizing wood-based materials to improve the overall thermal performance and durability of the structure. Major construction companies across the globe are increasingly shifting toward CLT and other wood-based construction materials.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

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Cross Laminated Timber Market Segmentation

Grand View Research has segmented the global cross laminated timber market report based on product, application, and region:

Cross Laminated Timber (CLT) Product Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2018 – 2030)
• Adhesive Bonded CLT
• Mechanically Fastened CLT

Cross Laminated Timber (CLT) Application Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2018 – 2030)
• Residential
• Institutional
• Commercial
• Others

Cross Laminated Timber (CLT) Regional Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2018 – 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Austria
o Germany
o Switzerland
o Italy
• Asia Pacific
o New Zealand
o China
o Japan
o Australia
• Central & South America
• Middle East & Africa

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Key Companies profiled:
• Stora Enso Oyj
• Mayr-MelnhofHolz Holding AG
• Binderholz GmbH
• XLam
• Sterling Company
• SchilligerHolz AG
• KLH Massivholz GmbH
• B&K Structures
• Eugen Decker & WebMan
• Structurlam Mass Timber Corporation
• SmartLam NA
• MEIKEN LAMWOOD Corp