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Cross Laminated Timber Market Trends

Report ID: GMI4096
Published Date: Dec 2024
Report Format: PDF

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Cross Laminated Timber Market Trends

The global shift towards sustainable building practices is one of the most influential trends driving the adoption of CLT. Governments, architects, and developers are increasingly prioritizing green building certifications such as LEED, BREEAM, and WELL. CLT, being a renewable and low-carbon material, fits perfectly within these frameworks. Its ability to store carbon throughout its lifecycle positions it as a leading material in efforts to create carbon-neutral buildings. The push for sustainable urban development is pushing builders to seek materials that have low environmental impact, and CLT, with its environmental benefits of carbon sequestration and recyclability, is becoming a top choice.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market size for cross laminated timber was valued at USD 1.3 billion in 2023 and is projected to reach USD 2.7 billion by 2032, driven by a CAGR of over 8.2% from 2024 to 2032.

The spruce segment accounted for approximately USD 1.1 billion in revenue in 2023 and is estimated to grow at a CAGR of around 8.1% from 2024 to 2032, driven by its excellent strength-to-weight ratio and sustainability.

The North America market, led by the U.S., generated around 67% of the market share in 2023, driven by government-backed incentives and funding programs supporting sustainable construction practices.

Major players in the industry include Binderholz, Brettstapel, Hasslacher Norica Timber, Katerra, KLH Massivholz, Lignotrend, Mayr-Melnhof Holz, Nordic Structures, Schilliger Holz, and Stora Enso.