Global Cross Laminated Timber Market
Global Cross Laminated Timber market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 12% from 2020 to 2027, reaching US$ XX Mn.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Cross-covered lumber (CLT) is a built wood item that is quickly picking up prevalence over the globe as an economical choice for cement and steel construction in commercial and multi-residential applications. The global cross-laminated timber market is driven by the increased demand in green building and construction applications owing to cost benefits and adaptability in flexible designs and stylish architecture. Increasing investments in commercial and residential construction in developing countries like Brazil, Saudi Arabia, India, and China, are also projected to impel the market growth in the forecast period. However, the moisture-absorbing capacity of wood and dearth of awareness among consumers is restraining the market growth at the global level. Also, the strict government guidelines about carbon releases and high capital investments will hamper the market growth during the forecast period
Based on the type, the Adhesive-bonded segment has led the Cross Laminated Timber market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%, owing to the many advantages related to the product type containing good insulation properties and excellent fire-safety properties. But the mechanically fastened segment is expected to witness a growth rate of XX% during the forecast period owing to its effective recycling properties. The changing consumer preference toward environment-friendly products is anticipated to boost the product demand in the near future. The mechanically fastened segment is projected to gain a significant market share of XX% considering rising demand from the North America and Europe regions.
Geographically, the Cross Laminated Timber market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe held a prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Owing to the growing construction sector in economies like Germany, the U.K., Italy, and France, the use of cross-laminated timber is increasing in Europe. Europe is the leading producer of cross-laminated timber in the overall market due to the presence of key market players such as Pfeifer Group, Stora Enso, Binderholz GmbH, Mayr-Melnhof Holz, and HASSLACHER Holding GmbH. North America accounted for the XX% market share in 2019 and is expected to grow at the CAGR of XX% during the forecast period thanks to the rise in the number of cross-laminated timber construction projects along with subsequent development of private and public sector investments in infrastructural construction projects in the region. The market in the Asia Pacific is expected to grow at a high CAGR of XX% during the forecast period thanks to the thriving construction industry in the commercial, and the residential sector is likely to contribute to the demand for Cross Laminated timber market.
The objective of the report is to present a comprehensive analysis of the Global Cross Laminated Timber Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Cross Laminated Timber Market dynamics, structure by analyzing the market segments and project the Global Cross Laminated Timber Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Cross Laminated Timber Market make the report investor’s guide.
Scope of the Global Cross Laminated Timber Market:
Global Cross Laminated Timber Market, by Type:
• Adhesive-bonded
• Mechanically fastened
Global Cross Laminated Timber Market, by Application:
• Residential
• Commercial
• Industrial
Global Cross Laminated Timber Market, by Region:
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
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