Cross-Laminated Timber (CLT) Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, India, Japan, Australia, South Korea, Brazil, Mexico, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI4096
Cross-Laminated Timber Market size is likely to witness rapid growth in coming years due to escalating construction activities all over the world coupled with the rising trend of green construction projects. The product is used as a load bearing part in buildings and structures.
The growth of global construction industry can be attributed to rising population, robust urbanization, and increasing industrialization in developing countries. Global construction industry will be majorly driven by Asia Pacific region. China, the leading country in global construction industry, has witnessed significant growth in the last decade. In 2013, construction spending by China was over 45% of the total construction spending in the Asia Pacific region. It can be attributed to trends such as escalating population growth, rapid development in industrial infrastructure in the country, etc. The country’s construction industry has witnessed an average annual growth of more than 8% between 2013 and 2016. The Chinese government has planned to relax many measures that were imposed earlier for the purpose of reining in excessive debt-driven investment in the construction sector that was resulting in excess capacity and oversupply in infrastructure and real estate. This move is aimed towards reinvigoration of construction industry demand in the country. For instance, in 2018, the state council issued guidelines to attract investments in various infrastructure projects, especially for airports, roads, railways and waterways. Such developments will augment the Chinese construction market which will in turn propel the cross-laminated timber market growth.
The Indian construction industry is also growing rapidly due to higher population growth rate, rapid industrialization & urbanization and rising disposable income. Favorable government initiatives, such as 100% foreign direct investment for construction development under automatic route which includes townships, built-up infrastructure, housing is also a chief factor driving the construction activities in the country. These trends will have positive impact on cross-laminated timber market size. On the other hand, ongoing and increasing number of upcoming construction projects across the world will also boost the global construction industry, which in turn will drive the demand for cross-laminated timber in coming years.
Another factor that will prosper the demand for cross-laminated timber is the emergence of green construction. Government of many countries have backed-up the construction practices in which concrete is replaced by wood, to reduce the carbon dioxide emission. Additionally, advantages associated with wood-based construction, which includes waste reduction, environment friendly, cost-efficiency and superior quality will further drive the cross-laminated timber demand in near future. However, regulations regarding the use of solvents or adhesives for cross-laminated timber production coupled with limited availability of sustainable wood might hamper the product demand in coming years.
Based on product, cross-laminated timber market share is categorized into adhesive bonded and mechanically fastened CLT. Adhesive bonded CLT will have substantial market share. It can be attributed to the several advantages associated with the product type including good insulation properties and excellent fire-safety properties. Commercial application segment will have substantial market share due to increasing global commercial construction activities, backed-up by private and public investments. Industrial application segment will have high growth rate in the market owing to robust industrial development and required infrastructural growth in emerging countries such as China, India and Brazil. North America and Europe will have significant share in cross-laminated timber market owing to a mature construction industry coupled with escalating green construction activities for residential as well as commercial projects. Middle East and Africa will have substantial market growth rate due to rapid commercial and institutional infrastructure development in the region.
Key players in cross-laminated timber market share include HASSLACHER Holding, BinderholzBausysteme, Stora Enso, KLH Massivholz, Eugen Decker Holzindustrie, Structurlam (Structurlam Mass Timber Corporation), Ed. Züblin AG, Nordic Structures, Sterling Lumber Company, W. u. J. Derix, etc. Expansion of production capacity either through upgradation in existing production facility or through establishing a new production facility is a major trend in CLT market. For instance, Sterling Lumber declared an investment of USD 30 million to build a new cross-laminated timber (CLT) plant. Partnerships among the product manufacturers is one of the strategies incorporated by the players to enhance or maintain their position in the market.
Cross-Laminated Timber (CLT) Market, By Type, 2014-2025
- Adhesive bonded CLT
- Mechanically fastened CLT
Cross-Laminated Timber (CLT) Market, By Application, 2014-2025
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Stora Enso
- HASSLACHER Holding GmbH
- BinderholzBausysteme GmbH
- KLH Massivholz GmbH
- Eugen Decker Holzindustrie KG
- Structurlam (Structurlam Mass Timber Corporation)
- Nordic Structures
- Ed. Züblin AG
- Sterling Lumber Company
- W. u. J. Derix GmbH & Co.
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