USD 1.1 billion
Global Cross Laminated Timber Market Size, Share, Growth Analysis, By Type(Adhesive bonded, mechanically fastened), By Application(Residential, Non-residential), By End Use(Structural, Non-structural) - Industry Forecast 2024-2031
Report ID:
SQMIG15P2014 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
88 |
Figures:
76
Global Cross Laminated Timber Market Insights
Cross Laminated Timber Market size was valued at USD 1.1 billion in 2019 and is poised to grow from USD 1.26 billion in 2023 to USD 4.26 billion by 2031, growing at a CAGR of 14.5% in the forecast period (2024-2031).
The cross laminated timber is also called the CLT or XLam. It Is a manufactured engineered wood lumber product that is currently gaining popularity due to its properties. It consists of more than two layers of solid-sawn and structural composite timber. The layers are arranged so that adjacent layers are crossed and fixed together with adhesive for mechanical fixation to form a solid wood element. In the early 1990s, it was developed in Europe's alpine countries and is now a well settled building material in Europe. It is high in demand due to its solid wood element.
It is extensively used as it is a sustainable alternative to steel and concrete construction in multi-residential and commercial applications. In the Asia Pacific and North America countries, it is gaining popularity as it is majorly used in the construction of readymade building structures on site for small duration. The structuralism estimates that a building installation of up to 14,000 square feet per day can be completed with a team of six technicians.
Its configuration provides mechanical properties, dimensional stability, and rigidity. therefore, it is employed for walls, roofs, floors, and other applications.
Construction activities of same scale using conventional products may take several weeks with a significantly higher amount of labor. It gives advantages like design flexibility and good seismic performance.
The material has good acoustic and thermal insulation performance. This has led to its global adoption in the construction of buildings in Europe and North America.
US Cross Laminated Timber Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Adhesive bonded
Fastest Growth
Adhesive bonded
Growth Rate
14.5% CAGR
Global Cross Laminated Timber Market ($ Bn)
Country Share for Europe Region (%)
Global Cross Laminated Timber Market By Type ($ Bn)
Global Cross Laminated Timber Market By Type (%)
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Global Cross Laminated Timber Market Segmental Analysis
The cross laminated timber is segmented on the basis of type, application, end use, and region. By type, the cross laminated timber market is segmented into mechanically fastened and adhesive bonded. By application, the market is segmented into residential, non-residential, and others. By end-use, the market is segmented into structural and non-structural. By region, the market is segmented into North America, Europe, Asia Pacific, and MEA
Cross Laminated Timber Market Analysis by Type
The adhesive bonded segment is expected to hold the largest share in the global cross laminated timber market. Adhesives provide a higher bond strength than mechanical fastening and are less affected by environmental conditions.
Additionally, adhesive-bonded products are more popular than mechanically fastened products in the cross-laminated timber market because adhesive costs are lower than mechanical fastening.
Cross Laminated Timber Market Analysis by Application
In North America and the Asia-Pacific the non-residential building applications hold the largest share on account of large-scale application. Cross-laminated timber (CLT) is expected to give hard competition to the non-residential segment due to the large-scale consumption of this type of timber for the construction of multi-family buildings in developing regions as well as in Europe.
Global Cross Laminated Timber Market By Type, 2023 (%)
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Global Cross Laminated Timber Market Regional Insights
Global cross-laminated timber market size in Europe stood at USD 455.1 million in 2022. The Europe market is projected to grow owing to the large adoption of the material in the building of small and medium-sized houses in the region.
Europe is responsible for 69% of the timber-based material production and the majority of the products are used locally, as laminated wood provides better insulation performance against the cold temperature usually present in the region.
The market in North America is governed by the adoption of cross-laminated timber in the construction of hybrid buildings that utilize a combination of timber and conventional materials to create artistic building designs for office spaces.
Asia Pacific market will be impacted by demand from Japan and Australia, with New Zealand following close behind. Asia Pacific region's population is expected to reach 5.1 billion by 2050, of which, the urban population is expected to account for a minimum 68% share. This market will be used to produce wood-based buildings with enhanced features, including locally-grown bamboo.
Global Cross Laminated Timber Market By Region, 2024-2031
- Largest
- Fastest
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Global Cross Laminated Timber Market Dynamics
Cross Laminated Timber Market Drivers
Rapid Urbanization to Bolster Demand for Cross laminated timber in Global Market
- The increasing urban population is indirectly driving the market for cross-laminated timber. There is a population shift from rural to urban areas in the Asia Pacific region hence, demanding infrastructure development in this region.
- The increase in living standards is likely to lead to increased demand for products for construction such as prefabricated construction; this is expected to propel the demand for cross-laminated timber, as it is an easy to build material with many advantages, that it is renewable, sustainable, lighter, faster, and has other advantages similar to those of concrete.
Cross Laminated Timber Market Restraints
Expensive Raw Materials to Hinder Market Growth
- CLT is expensive than steel or concrete buildings, for all the restrictions on height. The shortage of skilled professionals is a major impediment to market growth in the timber construction industry.
- This is likely to be due to the lack of training in this field among architects and planners. The CLT industry is facing restrictions in the use of structures in high rise multifamily housing due to design complexion.
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Global Cross Laminated Timber Market Competitive Landscape
This report provides a detailed overview of the global cross-laminated timber market, including its key trends and factors. This report provides an overview of the market and industry conditions, as well as recent trends and key market drivers and challenges. It also includes a SWOT analysis, Porter’s five forces analysis, and more. The report provides a detailed analysis of setting up a cross-laminated timber manufacturing plant. This study looks at the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc.
Cross Laminated Timber Market Top Player’s Company Profiles
- Stora Enso Oyj
- KLH Massivholz GmbH
- Mayr-Melnhof Holz Holding AG
- Binderholz GmbH
- Hasslacher Holding GmbH
- Structurlam Mass Timber Corporation
- Nordic Structures
- Eugen Decker Holzindustrie KG
- Xlam Dolomiti S.p.A.
- Merk Timber GmbH
- B & K Structures
- W. u. J. Derix GmbH & Co. KG
- Cross Laminated Timber Australia Pty Ltd.
- BLC Timber Projects
- Rubner Holzbau GmbH
- Setra Group AB
- HASSLACHER NORICA TIMBER
- Piveteau Bois
- ERNE AG Holzbau
- Bergs Timber AB
Cross Laminated Timber Market Recent Developments
- In December 2021, Mayr-Melnhof Holz Holding Firm entered an agreement to buy the Swedish sawmill group Bergkvist Siljan. This enables the Austrian wood processing group's steady expansion and growth plan.
Global Cross Laminated Timber Key Market Trends
- Seeking Alternatives for Construction Industry to Drive the Market: Cross laminated timber manufactured using local raw material, hardwood from coniferous trees available in alpine region. With increasing popularity in other parts of the world, companies are experimenting with soft and temperate wood species for the manufacturing of material.
- Technological Advancements: The manufacturing industry in the wood industry is witnessing several transformations on account of changing industry dynamics and demand for wooden applications. Use of state-of-the-art techniques to manufacture these applications is projected to drive the market growth in the coming years.
Global Cross Laminated Timber Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research and Analysis Wing) is our Business Information Services team that collects, collates, Co-relates and analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research
According to global cross laminated timber analysis, the global market is expected to go through evolution as consumer demands are changing. Players in the market are investing in product portfolio expansion to cater different needs of consumers. Expanding their geographical base can provide players with an edge over their competitors. Superior design options and quicker installation are the main factors influencing the market growth. Resuming construction activities post-COVID-19 pandemic will allow new players to enter the market. The transition towards ethical alternatives would drive the demand for cross-laminated markets in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.1 billion |
| Market size value in 2031 | USD 4.26 billion |
| Growth Rate | 14.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cross Laminated Timber Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cross Laminated Timber Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cross Laminated Timber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cross Laminated Timber Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cross Laminated Timber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cross Laminated Timber Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Cross Laminated Timber Market Report Snapshots
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