Cross Laminated Timber Market accounted for US$ 954.23 million in 2020 and is estimated to be US$ 2838.36 million by 2030 and is anticipated to register a CAGR of 11.50%. Cross-laminated timber (CLT) is a wood panel product made from gluing layers of solid-sawn lumber together. Each layer of boards is leaning perpendicular to neighboring layers and pasted on wide faces of each board, usually in a symmetric way so that the outer layers have the same orientation. An odd number of layers is most common, but there are arrangements with even numbers as well.
The report " Global Cross Laminated Timber Market, By Type (Adhesive-bonded CLT and Mechanically Fastened CLT), By Application (Residential, Commercial, and Industrial), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
- Europe is attributed to the increase in the number of cross laminated timber construction projects, coupled with subsequent growth of public and private sector investments in infrastructural construction projects in the region. North America region accounted for the second largest market, which is anticipated to exhibit sustainable growth rate over the forecast period.
Analyst View:
Rapid urbanization, dimensional stability, performance durability, increase in demand for green buildings, and various other features are some of the major factors driving growth of the global cross laminated timber market. Hence, the applications of cross laminated timber products for the construction of high-rise buildings are rising. Also, the manufacturers follow expansion strategy in order to strengthen their position in the market. Hence, the global cross laminated timber market is expected to witness great opportunities over the forecast period. However, the growth of the market might be hindered by the strict government regulations regarding carbon emissions and high production costs and capital investments.
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Key Market Insights from the report:
Global Cross Laminated Timber Market accounted for US$ 954.23 million in 2020 and is estimated to be US$ 2838.36 million by 2030 and is anticipated to register a CAGR of 11.50%. The global cross laminated timber market has been segmented on the basis of type, application, and region.
- Based on Type, Global Cross Laminated Timber Market is segmented into Adhesive-bonded CLT and Mechanically Fastened CLT.
- Based on Application, Global Cross Laminated Timber Market is segmented into Residential, Commercial, and Industrial.
- By Region, the Global Cross Laminated Timber Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Cross Laminated Timber Market:
Key players contributing to the global cross limited timbre market are Stora Enso Oyj, KLH Massivholz GmbH, Binderholz Bausysteme GmbH, Mayr-Melnhof Holz Holding AG, HASSLACHER Holding GmbH, Structurlam Mass Timber Corporation, Ed. Züblin AG, Eugen Decker Holzindustrie KG, Sterling Lumber Company, and W. U. J. Derix GmbH & Co.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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