Cross Laminated Timber (clt) Market to Reach Valuation of USD 3.5 Billion by 2030 – Low Cost of CLT Compared to Other Building Materials Drives the Market

In terms of revenue, the Global Cross Laminated Timber (clt) Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 14% from 2023 to 2030.

is an engineered wood product that has recently gained popularity in the construction industry. It is made by gluing layers of lumber together at right angles, with each layer being alternately oriented for maximum strength and stability. The resulting product is a strong and rigid building material that can be used for various applications. CLT has advantages over traditional building materials such as steel and concrete, including its relatively low carbon footprint, faster construction times, and lighter weight. These benefits, combined with increasing interest in sustainable building practices, have contributed to the growing popularity of CLT in the construction industry.

Key Highlights from the Report

• Based on the Product, the Adhesive-Bonded dominates the Cross Laminated Timber (clt) market in 2022 owing to the continuous advancements in adhesive technology.
• Based on End-use, the Non-Structural segment is accounted to have the potential market growth in 2022. The non-structural use of CLT allows for the preservation of valuable timber resources. By opting for CLT panels in non-structural applications, the demand for other wood-based materials, such as solid wood or plywood, can be reduced. 
• Based on Industry, the Non-Residential segment accounted for a substantial market growth in 2022. CLT is a versatile and sustainable building material gaining popularity in various construction projects, including non-residential buildings. 
• Based on Region, Europe holds the significant market share within the Cross Laminated Timber (clt) market in 2022 owing to the increasing demand for sustainable and eco-friendly building materials. CLT is a renewable resource with a significantly lower carbon footprint than traditional construction materials such as concrete or steel. 

Market Dynamics

One of the primary driving factors behind the growth of the CLT market is a growing concern for the environment and a desire for sustainable building materials. CLT is made from sustainably sourced wood and has a relatively low carbon footprint compared to traditional building materials like concrete and steel. Additionally, CLT’s production process involves using less energy than is required for manufacturing steel and concrete. This lower production energy consumption is a significant factor for the environmental aspects of CLT, as it helps to reduce the overall carbon footprint of the construction industry.

Moreover, the low cost of CLT compared to other building materials is a key driving factor in its increasing popularity. CLT is competitively priced in the construction industry compared to other materials like concrete and steel. However, in addition to its price competitiveness, building with CLT is quicker than traditional material-based structures, saving construction and operating costs. CLT panels can arrive on-site prefabricated and ready to install, thereby reducing labor costs associated with on-site assembly. Furthermore, the lightweight of CLT panels means they can be installed without the need for large cranes or other heavy equipment, reducing the costs associated with transportation and installation.

Europe has experienced significant growth in 2022 owing to government initiatives and regulations promoting sustainable construction practices. Many European countries have implemented policies that incentivize the use of timber in construction, such as offering tax credits or grants for projects that incorporate CLT. These measures aim to reduce greenhouse gas emissions, promote the local timber industry, and support the transition towards a circular economy.

The Global Cross Laminated Timber (clt) Market is Segmented as follows

• Product
  • Adhesive Bonded
  • Mechanically Fastened
• End-Use
  • Structural
  • Non-Structural
• Industry
  • Residential
  • Non-Residential
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Cross Laminated Timber (clt) Market is

Stora Enso (Finland), Mayr Melnhof Holz Holding AG (Austria), Binderholz GmbH (Austria), Xlam Ltd. (Australia), Sterling Company (U.S.), Schilliger Holz AG (Switzerland), KLH Massivholz GmbH (Austria), B&K Structures (UK), Eugen Decker Holzindustrie KG (Germany), Structurlam Mass Timber Corporation (Canada), Smartlam NA (U.S.), Freres Lumber Co. Inc. (U.S.), Katerra (U.S.), IB EWP Inc. (Canada), Nordic Structures (Canada), StructureCraft Builders Inc. (Canada), DRJ Wood Innovations (U.S.), PFS Corporation (U.S.)

The Global Cross Laminated Timber (clt) Market Scope can be Tabulated as below