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Cross Laminated Timber (CLT) Market Size

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

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Cross Laminated Timber Market Size

Cross Laminated Timber (CLT) Market size is anticipated to witness more than 14.2% CAGR from 2023 to 2032. The growing penetration of sustainable building materials as well as technologies worldwide in a bid to reduce greenhouse gas emissions will positively influence the market growth. In recent years, the demand for advanced adhesives and resins has gained momentum in various industries and applications to offer unique properties and capabilities. The rising trend of net-zero energy buildings led by the combination of renewable energy sources, energy-efficient designs, and energy storage systems will also boost the market growth.

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Cross Laminated Timber Market Growth Drivers & Restraints

The rising incorporation of flexible designs and stylish architecture in the residential sector will accelerate the market expansion. However, the limited awareness regarding the usage of cross laminated timber in emerging economies may hinder the industry growth to some extent. The prevailing dominance of traditional construction methods and materials has led to the restricted knowledge about the benefits of using CLT.

Cross Laminated Timber Market Report Attributes
Report Attribute	Details
Base Year:	2022
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	14.2%
Historical Data for:	2018 to 2022
No. of Pages:	205
Tables, Charts & Figures:	244
Segments covered:	Raw materials, Press Type, Application and Region
Growth Drivers:	Supportive regulatory environment Growing penetration of flexible designs and stylish architecture in residential sector Rising residential dwellings construction in Europe Increasing preference for advanced adhesives and resins
Pitfalls & Challenges:	Low awareness in emerging economies

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Authors: Avinash Singh, Sunita Singh

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.