Cross Laminated Timber Market Expected To Trigger A Revenue To $2.07 Billion By 2025: Grand View Research, Inc.

February 14 17:36 2019

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, rising awareness about the environmental hazards caused by the use of cement concrete in infrastructure construction coupled with rising number of cross laminated timber manufacturers and increasing demand for green homes are factors propelling the cross laminated timber market growth.

According to a new report, “Cross Laminated Timber Market Analysis, By Type (Adhesive Bonded and Mechanically Fastened), By Region (North America, Europe, Asia Pacific, South & Central America, MEA), And Segment Forecasts 2018 – 2025”, published by Grand View Research, Inc., the global cross laminated timber market is expected to be valued at USD 2.07 billion by 2025. Rising awareness about the environmental hazards caused by the use of cement concrete in infrastructure construction coupled with rising number of cross laminated timber manufacturers and increasing demand for green homes are factors propelling the market growth.

Key Takeaways from the report:

  • In terms of volume, the market is expected to grow at a CAGR of 15.1% from 2017 to 2025 on account of increasing awareness about sustainable housing. Residential segment is expected to witness the fastest growth rate of 15.4%, in terms of revenue, from 2017 to 2025 owing to high product demand in developed countries.

  • North America was valued at USD 65 million in 2016 and is expected to witness significant development on account of rising demand from educational institutions and residential builders

  • Key participants include Stora Enso, Mayr-Melnhof Holz, Binderholz, XLam Ltd., Sterling Lumber, Schilliger Holz AG, KLH Massivholz GmbH, B & K Structures, Eugen Decker Holzindustrie KG, Structurlam, SmartLam, and Meiken Lamwood Corp. These companies are focused on increasing their production capacity to fulfill the worldwide massive product demand.

  • In 2016, Stora Enso invested approximately USD 900 million to setup a plant in Guanxi, China, to strengthen its presence in the Asia Pacific region

U.S. cross laminated timber market revenue, by Type, 2014 – 2025 (USD Million)

U.S. cross laminated timber market revenue, by Type, 2014 - 2025 (USD Million)

The shift from concrete-based construction to wood-based construction along with supportive government initiatives around the world are positively influencing the market. In addition, decreasing overall cost of CLT construction owing to the increasing number of suppliers and shorter construction time is responsible for rise in demand.

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The demand for wooden residential buildings, such as single-family homes and multifamily apartments, is increasing due to their aesthetic appeal and design flexibility. The improved fire resistance quality and earthquake-proof offered by cross laminated timber structure are expected to augment the market growth over the forecast period.

Institutional and commercial segments are expected to collectively account for 46.9% of the global market in 2025. The demand for these segments is attributed to low cost of construction and easy maintenance of cross laminated timber structures. Innovations in building and designing technologies are projected to boost the demand for cross laminated timber products over the forecast period.

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Global cross laminated timber market revenue, by type, 2016 (%)

Global cross laminated timber market revenue, by type, 2016 (%)

Europe is the leading region owing to the early adoption of cross laminated timber and research & development on CLT technologies by countries such as Austria and Germany. The availability of timber from the forests of central European countries and advanced timber processing industries are the leading cause for market growth in the region. Countries like Canada, the U.S., New Zealand, Japan, and China in the North American and Asia Pacific regions are also rapidly developing markets for cross laminated timber.

Grand View Research has segmented the cross laminated timber market on the basis of product and region:

Cross Laminated Timber Product Outlook (Revenue, USD Million; 2014 – 2025)

  • Adhesive Bonded

  • Mechanically Fastened

Cross Laminated Timber Regional Outlook (Revenue, USD Million; 2014 – 2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Austria

    • Germany

    • Switzerland

    • Italy

    • Rest of Europe

  • Asia Pacific

    • New Zealand

    • China

    • Japan

    • Rest of Asia Pacific

  • South & Central America

  • The Middle East and Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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