Cross Laminated Timber Market to Witness Substantial Growth through 2025 | In-Depth Qualitative Insights, Regional Analysis and Forecast

The global Cross Laminated Timber (CLT) Market was priced at US$ 558.6 million in 2016. It is estimated to develop at a CAGR of 15.7% during the period of forecast and appreciated at US$ 2.07 billion by the completion of 2025.

 

Market Overview:

 

The cross laminated timber (CLT) is a product manufactured from wood. It is quickly attaining admiration in Europe and North America and the other places. It is a sustainable substitute to steel and concrete in construction of residential and commercial structures. The arrangement is made up of multilayered boards manufactured using solid wood boards, fixed slanting, and pasted together. The cross laminated formation increases mechanical possessions, stiffness, and dimensional constancy.

 

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Key Players:

-          Sterling Lumber, XLam Limited, Mayr-Melnhof Holz, SmartLam, Binderholz GmbH and Stora Enso

 

Growth Drivers:

 

Increasing alertness regarding usage of wood as a building material, along with the worries about international sustainability among the customers are the causes expected to bolster the cross laminated timber market during the approaching years. The altering inclinations of the customers toward wood centered construction together with the possessions of insulation, greater thermal performance, and the low price are expected to motivate the development of the cross laminated timber (CLT) industry during the period of forecast.

 

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

    • Adhesive Bonded

    • Mechanically Fastened

 

The demand for cross laminated timber is observing an upsurge because the wood is developing such as the sustainable and low-priced substitute for the concrete and steel. The increasing acceptance of cross laminated timber, seeing its toughness and easiness of construction, is expected to boost the demand for the material during the following eight years. Growing acceptance and alertness in the provinces for example Asia Pacific, Europe and North America, is expected to influence the market, optimistically.

 

Classification:

 

The global CLT market can be classified by Type of Product, and Region. By Type of Product, it can be classified as Mechanically Fastened, Adhesive Bonded.

 

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