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Cross Laminated Timber (CLT) Market Trends

Report ID: GMI4096
Published Date: Jul 2023
Report Format: PDF

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Cross Laminated Timber Market Trends

The strong presence of supportive regulatory environment will also play a crucial role in the market expansion. To cite an instance, the Finnish Government initiated a Wood Building Program, as part of national climate strategy in order to double the utilization of wood in construction works. The surge in R&D funding to improve manufacturing processes, advance technologies and address the concerns of long-term performance and environmental impacts of CLT as well as other mass timber products will also support the industry development.

Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The market size for cross laminated timber is anticipated to witness more than 14.2% CAGR from 2023-2032 due to the growing penetration of sustainable building materials as well as technologies worldwide in a bid to reduce greenhouse gas emissions.

CLT market size from the spruce material segment is set to reach significant value by the end of 2032 owing to the rising adoption in a wide range of construction projects, such as commercial structures, residential buildings, and schools due to its eco-friendly nature and renewability.

Hydraulic presses account for more than 60% of the CLT market share and will record significant demand through 2032, driven by rising usage in the manufacturing of CLT to cater to increasing needs across residential construction.

Some of the key cross laminated timber industry players are MEIKEN LAMWOOD Corp, Eugen Decker & WebMan, Schilliger Holz AG, Stora Enso, KLH Massivholz GmbH, Binderholz GmbH, Structurlam Mass Timber Corporation, Sterling Company, B&K Structures, and SmartLam NA.