IMARC Group’s latest report, titled “Cross-Laminated Timber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global cross-laminated timber market reached a value of US$ 470 Million in 2016, growing at a CAGR of more than 16% during 2009-2016. Cross-laminated timber is a wooden panel created with multiple layers of lumber board. The panels are composed of uneven number of layers of lumber, such as three, five, seven or more, depending on the application. They are then glued in the crosswise configuration which increases their dimensional stability, rigidity and load-bearing capacity. These panels hold strength equivalent to steel or concrete, thereby substituting traditional construction materials. Owing to this, CLT panels are used in both commercial and residential applications such as in the construction of mid-rise apartments, churches, office buildings and bridges.
Highlights of the global cross-laminated timber market:
- Environmental and financial benefits of CLT are the major factors driving the market growth.
- Residential applications dominate the market, accounting for more than a half of the total share.
- Europe is the largest producer, and holds the majority of the global production.
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Government in countries such as UK, US, China, Japan, Canada, etc. are focusing on sustainable and environment-friendly solutions to improve the construction industry. Due to easy installation and time-efficiency offered by CLT panels, they have diverse applications in various sectors. The ability to use CLT panels with other building materials helps in the production of different designs and finishes which further facilitate their applications. Furthermore, these panels produce less greenhouse gases during their production since they require less energy as compared to concrete and steel. Other factors inducing the market growth are increasing urbanization, boosting commercial sector and growing construction activities. According to the report, the market is further expected to reach a value of US$ 880 Million by 2022.
The market has been segmented on the basis of applications. Currently, residential applications represent the largest area, accounting for more than a half of the global market. It is followed by educational institutes, commercial spaces, and government and public buildings. Region-wise, Europe dominates the total global production of CLT with Austria being the largest producer. Other major producers are Germany, Italy, Switzerland, Norway and Sweden, Canada, Czech Republic, United States and Spain. After analysing the competitive landscape of the market, it is found that the key players are Stora Enso, KLH, Binderholz, Mayr Melnhof and Hasslacher.
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The report has examined the global cross-laminated timber market on the basis of:
Applications:
- Residential
- Educational Institutes
- Government/Public Buildings
- Commercial Spaces
Regions:
- Europe
- Austria
- Germany
- Italy
- Switzerland
- Czech Republic
- Spain
- Norway
- United Kingdom
- North America
- United States
- Canada
- Others
Major Manufacturers:
- Stora Enso
- KLH
- Binderholz
- Mayr Melnhof
- Hasslacher
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