What are the key factors driving the global cross-laminated timber market?ģ. What is the size of the global cross-laminated timber market?Ģ.
The competitive landscape of the industry has also been examined with some of the key players being Stora Enso, KLH, Binderholz, Mayr Melnhof, Hasslacher, XLam Limited, Sterling Lumber, Shilliger Holz AG, Eugen Decker Holzindustrie KG, Structurlam, SmartLam, Meiken Lamwood Corp.ġ. Therefore, due to this technical advancement coupled with the aesthetic value that CLT adds to a structure, several construction companies are considering this product to build large commercial spaces.
However, due to recent technical advancement, now structures up to 10 storeys can be built using cross laminated timber. However, due to the increasing awareness about its advantages over other traditional construction material, architects and other stakeholders in the building industry in several markets such as China, Japan, United States, Canada, Australia, NewZealand, etc., are now considering cross laminated timber as a building material for their projects.Ĭross laminated timber, over the years, has been mainly used as a building material in constructing low to mid rise buildings which mainly includes educational institutes and residential buildings. Moreover, any change in CLT can be made on site with simple tools.Ĭross laminated timber since its inception has been largely confined to Europe. CLT elements can also be combined with other building materials which provides more flexibility in design, style and finish architecture. Its light weight and other characteristics make it highly adaptable to different types of projects, designs and site conditions like soft soils or tight proximity to neighbouring buildings.
Due to the faster construction time and cheaper built up costs, CLT offers a cheaper alternative over other popular construction material such as precast concrete to the building industry.ĬLT can be used for an entire building or any combination of wall, floor/ceiling and roof applications. This is largely attributed to its light weight nature and easy and fast installation. The structures built with cross laminated timber require shorter period of construction time than traditional construction materials such as concrete and bricks. It is currently used for all kinds of structures ranging from houses, barns, powerline towers, churches and bridges to high-rise apartment and office buildings, adding visibility and reputation to the system. The use of CLT panels has become a successful and popular method of construction in Europe since it was first introduced during the early 1990's. CLT panels are strong and stiff, which allows them to be used in a wide range of applications. Structurally, CLT offers performance comparable to concrete or steel, with panels suitable for use as walls, floors, roofs and other applications. The cross-laminated configuration improves rigidity, dimensional stability, and mechanical properties. The system consists of multilayer panels made from solid wood boards stacked crosswise and glued together. These insights are included in the report as a major market contributor.Ĭross-laminated timber (CLT) is an engineered wood product that is rapidly gaining popularity across the globe as a sustainable alternative to concrete and steel construction in commercial and multi-residential applications. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. Looking forward, the publisher expects the market to reach 3,777,532 Cubic Metres by 2027, exhibiting at a CAGR of 12.4% during 2022-2027. The global cross-laminated timber market reached a volume of 1,853,437 Cubic Metres in 2021.