Cross Laminated Timber Market
Report ID: SQMIG15P2014
Cross Laminated Timber Market Regional Analysis
Skyquest Technology's expert advisors have carried out comprehensive global market analysis on the cross laminated timber market, covering regional industry trends and market insights. Our team of analysts have conducted in-depth primary and secondary research to provide regional industry analysis and forecast of cross laminated timber market across North America, South America, Europe, Asia, the Middle East, and Africa.
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.
Cross Laminated Timber Market Report Snapshots
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