Cross Laminated Timber Market Size

Cross Laminated Timber Market Size

The global cross laminated timber market was valued at USD 1.3 billion in 2023 and is estimated to grow at a CAGR of over 8.2% from 2024 to 2032.

The demand for cross laminated timber (CLT) in the construction market is driven by several interconnected factors that reflect the global shift towards more sustainable, energy-efficient, and innovative building practices. One of the primary demand drivers is the growing focus on sustainability within the construction sector. As governments, businesses, and consumers become more aware of the environmental impacts of traditional construction materials, there has been an increased push for the adoption of eco-friendly alternatives.
 

CLT, being made from renewable wood sources, is considered a highly sustainable building material. Unlike concrete and steel, which have a significant carbon footprint due to their energy-intensive production processes, CLT has a much lower environmental impact. The material is carbon-neutral, and the wood used in CLT stores carbon dioxide absorbed during the growth of trees, which means CLT contributes to reducing the overall carbon footprint of a building. Furthermore, CLT is biodegradable and can be recycled at the end of its lifecycle, making it a key player in the global effort to transition to greener construction practices.