Cross Laminated Timber (CLT) Market, By Raw Materials (Fir, Spruce, Pine, Larch), By Press Type (Vacuum, Hydraulic, Pneumatic, Nails), By Application (Commercial, Residential, Industrial), By Element Type (Wall Panels, Flooring Panels, Roofing Slabs, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Market Size, Share, Trends & Forecasting to 2030

The Cross Laminated Timber (CLT) Market is estimated to be USD 1048.8 million in 2021 and is projected to grow at a CAGR of 15.0% during the forecast period from 2021 to 2030.

CLT (cross-laminated timber) is a prefabricated, solid engineered wood panel. CLT is a lightweight yet sturdy material with exceptional acoustic, fire, seismic, and thermal properties. It is also simple to install and produces nearly no waste on site. CLT has a wide range of architectural possibilities and has a low impact on the environment. Cross-laminated timber is proven to be a highly beneficial alternative to traditional materials such as concrete, masonry, or steel, especially in residential and commercial construction, for these reasons.

The product has proven to be effective in a variety of building types, from low-rise to high-rise. As compared to concrete and steel, CLT has shown competence in terms of affordability and strength. Furthermore, laminated wood is used as one of the most effective wood bending ways. CLT is typically made of softwood species like spruce, although it can also be made of larch, fir, Douglas fir, pine, or other woods.

For exporters in underdeveloped countries, legality and traceability requirements are big roadblocks. This is due to the possibility for illegal timber, which is expected to hamper the market growth.

TABLE 1: GLOBAL CROSS LAMINATED TIMBER (CLT) MARKET OVERALL SNAPSHOT

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Impact of COVID-19 on Global Cross Laminated Timber (CLT) Market

The easing of COVID-19 restrictions around the world has aided the building & construction industry's revival. As a result, demand for cross laminated timber is predicted to skyrocket as cost-effectiveness and environmental friendliness are assured. The value of clean, fresh air has been emphasized by healthcare specialists. Fresh air aids in the development of a strong immune system, which aids in the fight against pandemic such as Covid-19. As a result, the market will rise throughout the anticipated period.

Segmentation

The global cross laminated timber (CLT) market report has been segmented by raw materials, by press type, by application, by element type.

FIGURE 1: GLOBAL CROSS LAMINATED TIMBER (CLT) MARKET SEGMENTATION

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Cross Laminated Timber (CLT) Market, By Raw Materials

Based on raw materials, the cross laminated timber (CLT) market is segmented into spruce, fir, pine, larch. The spruce segment is projected to capture the largest share of the market. CLT is a sustainable material composed of spruce. Cross laminated timber (CLT) is made up of at least three and up to nine layers of spruce lamellae bonded together flat and arranged across, with a symmetrical structure. The wood is light, supple, and has a medium density. The tensile characteristics are excellent. Assembly, as well as sawing and machining, are simple. It is Europe's most important building and construction wood. Decorative plywood, decorative veneer, residential flooring, industrial flooring, general carpentry, interior construction, and joinery are all examples of applications of spruce used in CLT.

Cross Laminated Timber (CLT) Market, By Press Type

Based on press type, the cross laminated timber (CLT) market is segmented into hydraulic, vacuum, pneumatic, nails. The hydraulic segment is expected to be the most lucrative largest market. The advantages of hydraulic pressing include higher pressures and the ability to specify the pressure applied to each edge. Hydraulic pressure has low energy consumption and these CLT panels are designed for a maximum service life and require minimum maintenance costs.

Cross Laminated Timber (CLT) Market, By Application

Based on application, the cross laminated timber (CLT) market is segmented into residential, commercial, industrial. Commercial segment is projected to account for the largest market. CLT is quickly becoming a popular solution for commercial construction projects of various forms and sizes. Cross-laminated lumber is changing the way architects, designers, and contractors use wood in their projects. CLT also has several advantages, making it an excellent choice for commercial structures. The acoustic performance of a wall is influenced by its mass, according to studies. Because of its low bulk, CLT can provide better noise reduction in structures.

Cross Laminated Timber (CLT) Market, By Element Type

Based on element type, the cross laminated timber (CLT) market is segmented into wall panels, flooring panels, roofing slabs, others. Wall panels segment is projected to account for the largest market.

Applications for CLT include floors, walls, and roofing. The panels’ ability to resist high racking and compressive forces makes them especially cost-effective for multistory and long-span diaphragm applications.

In structural systems, such as walls, CLT panels serve as load-bearing elements. As such, in wall applications, the lumber used in the outer layers of a CLT panel is typically oriented vertically so its fibers run parallel to gravity loads, maximizing the wall’s vertical load capacity.

Global Cross Laminated Timber (CLT) Market, based on Regional Analysis

By region, the cross laminated timber (CLT) market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America region is expected to be a highly lucrative market. Cross-laminated timber (CLT) has gained traction since 2000 in the emerging green building movement. The increasing demand for CLT is on account of increasing demand of green building products and the need to reduce carbon emission.

TABLE 2: GLOBAL CROSS LAMINATED TIMBER (CLT) MARKET OVERVIEW

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Recent Developments in the Global Cross Laminated Timber (CLT) Market

  • June 2021 - CLTP Tasmania (Australia) officially launched the world’s first hardwood Cross Laminated Timber (CLT), along with their new brand – Cusp Building Solutions.
  • July 2020 - Simpson Strong-Tie (U.S.) launched cross-laminated timber range. Simpson Strong-Tie, a supplier of engineered structural connectors, fasteners and building solutions, had launched a new range of regulated and quality tested connectors and fasteners to serve the growing demand for cross-laminated timber (CLT).
  • February 2018 - SmartLam (U.S.), a manufacturer of Cross-Laminated Timber (CLT), announced its plans to expand its operations to the East Coast by opening a new manufacturing facility in Maine.

What Does This Report Provide?

This report provides a detailed understanding of the global cross laminated timber (CLT) market from qualitative and quantitative perspectives during the forecast period. The major market drivers, challenges, and opportunities for the global cross laminated timber (CLT) market have been covered in the report.

Major Companies: In this report, the major companies studied are Stora Enso (Finland), Binderholz GmbH (Austria), KLH Massivholz GmbH (Austria), Mayr-Melnhof Holz Holding AG (Austria), HASSLACHER Holding GmbH (Austria), Kattera (U.S.), Derix Group (Germany), Smart Lam (U.S.), Eugen Decker (Germany), and Schillinger Holz AG (Switzerland).

Market Segmentation:

By Raw Materials

  • Spruce
  • Fir
  • Pine
  • Larch

By Press Type

  • Hydraulic
  • Vacuum
  • Pneumatic
  • Nails

By Element Type

  • Wall Panels
  • Flooring Panels
  • Roofing Slabs
  • Others

By Application

  • Residential
  • Commercial
  • Industrial

Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

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