Cross Laminated Timber (CLT) Market Analysis

Cross Laminated Timber Market Analysis

The cross laminated timber market size from the spruce material segment is set to reach significant value by 2032. Spruce CLT is extensively adopted in a wide range of construction projects, such as commercial structures, residential buildings, and schools due to its eco-friendly nature and renewability. Spruce can be touted as a sustainable and versatile building material as it offers several benefits, including dimensional stability, high strength, and fire resistance. Increasing adoption in sustainable construction practices will further anchor the segment expansion.

Hydraulic presses account for nearly 60% share of the overall market and will record significant demand through 2032. This growth can be attributed to the rising usage of hydraulic presses in the manufacturing of CLT to cater to increasing needs across residential construction. The adoption of CLT has substantially soared in recent years owing to its sustainable and eco-friendly properties, adding to the growing need for hydraulic presses that are tailored for CLT production. The increasing focus of various major players on expanding the production capacities will also contribute to the market growth.

The commercial application is estimated to register considerable revenue share of the CLT market by 2032 owing to the rising obligation to meet the modern design demands. The growing focus on promoting green building practices while limiting the overall environmental impacts of construction have led to the rise in the number of sustainable commercial building projects. The increasing number of infrastructure investments across the commercial sector will also accelerate the segment expansion.

North America cross laminated timber market size is expected to record 14.5% CAGR from 2023 to 2032. The rapid advances across the construction sector have made way for increasing application of strong and versatile building materials. According to AGC (The Construction Association), the construction industry is a prominent contributor to the U.S. economy, creating nearly USD 1.8 trillion worth of structures per year. The growing construction of tall wooden structures and the consequently increasing mass timber demand will propel the regional growth.