Cross Laminated Timber Industry Analysis Report 2021 Attractiveness andKey Players|GmbH, KLH Massivholz GmbH, HASSLACHER Holding GmbH
The global cross-laminated timber market was valued at US$ 712.74 Mnin 2017 and is anticipated to expand at a CAGR of 14.7% from 2018 to 2026,according to a new report titled ‘Cross-laminated Timber Market: GlobalIndustry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’published by Transparency Market Research (TMR) The global cross-laminatedtimber market is driven by rising demand for cross-laminated timber and itsincreasing acceptance from the construction industry.
Request A Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=51738
Rise in Demand for Cross-laminated Timber from theConstruction Industry is projected to Drive the Market
Cross-laminated timber offers various advantages over conventionalconstruction materials such as concrete and steel. It is considered a highlyadvanced building material due to its superior properties. It is safe,acoustically sound, fire proof, seismically resilient, light in weight, andeasy to transport and fabricate. Moreover, it can be prefabricated, whichreduces construction time significantly. It is an eco-friendly and sustainablematerial. It is being increasingly used in the construction industry, mainly inresidential construction. A rise in the use of cross-laminated timber inconstruction is anticipated to drive the market over the forecast period.
Cross-laminated Timber is Considered to be theFuture of Sustainable Construction
Increase in awareness about deforestation and climate change hasincreased demand for cross-laminated timber across the globe. In mostcountries, forest and climate sustainability is a top priority. Hence,government agencies, timber trade federations, and large construction companiesare promoting the use of cross-laminated timber. Awareness regardingsustainable forest management by substituting soft and temperate wood speciesis on the rise. Usage of wood in buildings has clear advantages.Cross-laminated timber reduces fresh water consumption. It enhances the qualityof the indoor environment. It also helps in keeping the environment clean, asit generates no waste during production. The only constituents of a CLTbuilding system are wood and a non-toxic/non-VOC adhesive. Cross-laminatedtimber building materials do not release any toxins into the indoorenvironment, thereby providing clean indoor air. Cross-laminated timber wallsystems can breathe naturally. When integrated with appropriate mechanicalsystems, they create a healthy indoor environment. Wood is a naturallyoccurring product that serves as a moisture management system in construction.Ideally manufactured with 12% moisture content, wood has the ability to absorband release moisture. This can naturally stabilize the indoor environment.Constructing with timber reduces the carbon footprint. The raw material forcross-laminated timber is timber i.e. wood , which is a renewable resource andhas carbon locked in it.
REQUEST FOR COVID19 IMPACTANALYSIS – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=51738
Higher Cost of Cross-laminated Timber and Lack ofAwareness about the Material are Hindering the Cross-laminated Timber Market
Construction by using cross-laminated timber (CLT) is a relatively newconcept. CLT was first developed and used in Germany and Austria in the early1990s. It was only after the mid- 1990s that extensive research on the productwas conducted. By the 2000s, CLT was being used much widely in Europe, insingle-storied as well as multi-storied buildings. The construction sector islargely dominated by the use of conventional materials such as concrete andsteel. Construction using cross-laminated timber is currently more expensive ascompared to that using concrete and steel. This is likely to restrain themarket. Moreover, awareness about cross-laminated timber and itsproperties is low across the world. Cross-laminated timber can be used forconstructing tall buildings, but its use is limited to low- and mid-risebuildings currently, as there are no codes and regulations available for theuse of cross-laminated timber in construction.
Adhesive-bonded Cross-laminated Timber Segment toDominate the Global Cross-laminated Timber Market
Based on type, the global cross-laminated timber market has beensegmented into adhesive-bonded cross-laminated timber and mechanically fastenedcross-laminated timber. Both segments are anticipated to expand at a rapid paceduring the forecast period. However, the adhesive-bonded cross-laminated timbersegment is likely to expand at a faster pace. Compared to mechanically fastenedCLT, adhesive-bonded CLT is used on a larger scale during construction.Cross-laminated timber panels consist of several layers of lumber boardsstacked crosswise and glued together. Adhesive is used to assemble CLT panels.Very few manufacturers of cross-laminated timber use the process of mechanicalfastening to manufacture CLT. Manufacturers use aluminum nails or wooden dowelsto connect wood layers vertically.
Purchase A Report- https://www.transparencymarketresearch.com/checkout.php?rep_id=51738<ype=S
Residential Construction Segment Dominates theGlobal Cross-laminated Timber Market
In terms of application, residential buildings is a prominent segment ofthe cross-laminated timber market. In residential buildings, cross-laminatedtimber is used in walls, roofs, and ceilings. Flooring and walls made fromcross-laminated timber can be assembled fully before reaching the project site.This prefabrication helps in decreasing the construction time and cost.Cross-laminated timber is less commonly used in construction in industrial andcommercial spaces. They require strict building codes of strength to befollowed. In order to achieve that, the number of cross-laminated timber panelsused increases, and the cost of construction rises significantly. Currently,the use of cross-laminated timber is limited to low-rise and mid-risebuildings.
Europe Dominates the Global Cross-laminated TimberMarket
In terms of geography, the global cross-laminated timber market can beclassified into North America, Europe, Asia Pacific, Middle East & Africa,and Latin America. Europe is a leading consumer as well as producer ofcross-laminated timber across the world. The region held a major market share in2017 and is expected to continue its dominance during the forecast period. Keydrivers of the cross-laminated timber market in Europe include the greendevelopment movement, changes in building codes, and consistent efforts formarketing by CLT manufactures. Building codes in Europe are focusing on the useof wood in construction to promote sustainability. In terms of volume, NorthAmerica holds a prominent share of the global cross-laminated timber market.High demand for and wide-scale adoption of cross-laminated timber as aconstruction material in the region has boosted the market in North America.Asia Pacific is another significant region of the cross-laminated timbermarket. Demand for CLT in the region primarily comes from countries such asJapan, New Zealand, and Australia. The demand in these countries is estimatedto be high during the forecast period. In 2017, Latin America and Middle East& Africa were minimally significant regions of the cross-laminated timbermarket compared to other regions. However, both regions are estimated towitness significant growth in the consumption of cross-laminated timber duringthe forecast period. However, lack of technical knowhow is expected to inhibitthe rapid growth of the cross-laminated timber market in these two regions.Strengthening of distribution channels in these regions is anticipated to helpmarket players expand their footprint in the near future.
Get Trending Report- https://www.prnewswire.com/news-releases/extensive-benefits-as-compared-to-horizontal-injection-molding-machines-will-enable-the-vertical-injection-molding-machine-market-to-witness-an-uptick-in-growth-tmr-301306720.html[AH1]
High Degree of Competition among Market Players
High degree of competition exists among market players operating in thecross-laminated timber market. The market is dominated by large players and ismoderately consolidated. Key players account for a major share of the market.Major players profiled in the report are Stora Enso, Mayr-Melnhof Holz HoldingAG, Binderholz Bausysteme GmbH, KLH Massivholz GmbH, HASSLACHER Holding GmbH,Structurlam Mass Timber Corporation, Nordic Structures, Ed. Zublin AG, EugenDecker Holzindustrie KG, Sterling Lumber Company, Inc., and W. u. J.Derix GmbH & Co..
Global Cross-laminated Timber Market, by Type
· Adhesive-bondedCross-laminated Timber
· MechanicallyFastened Cross-laminated Timber
Global Cross-laminated Timber Market, byApplication
· ResidentialBuildings
· EducationalInstitutes
· Government/PublicBuildings
· Industrial& Commercial Spaces
