Asia-Pacific Cross-Laminated Timber Market Size (2024 - 2029)

The Asia-Pacific cross-laminated timber market is experiencing a recovery and growth trajectory following the disruptions caused by COVID-19. The market's expansion is primarily driven by the burgeoning commercial sectors within the region, although challenges such as moisture absorption risks pose potential constraints. Despite these challenges, the market is poised for opportunities, particularly due to the carbon-negative potential of cross-laminated timber. China stands out as the largest market in the region, reflecting significant consumption across various applications.

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Market Size of Asia-Pacific Cross-Laminated Timber Industry

Asia-Pacific Cross-Laminated Timber Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 4.56 %
Market Concentration High

Major Players

Asia-Pacific Cross-Laminated Timber Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Cross-Laminated Timber Market Analysis

The Asia-Pacific Cross-Laminated Timber Market size is estimated at 63.60 Thousand cubic meters in 2024, and is expected to reach 79.49 Thousand cubic meters by 2029, growing at a CAGR of 4.56% during the forecast period (2024-2029).

The Asia-Pacific cross-laminated timber market was negatively impacted by COVID-19. The implementation of stringent lockdown measures led to a halt of industrial operations. However, the sector has been recovering well since restrictions were lifted. The growth in industrial activities registered a positive trend for the cross-laminated timber market in the Asia-Pacific region.

  • Over the short term, growing commercial sectors in the region are the major factor driving the growth of the market studied.
  • However, moisture absorption-related risks of the material are the key factors anticipated to restrain the growth of the target industry over the forecast period.
  • Nevertheless, the carbon-negative future based on cross-laminated timber is likely to create lucrative growth opportunities for the global market soon.
  • China emerged as the largest growing market for cross-laminated timber in the region owing to considerable consumption of the material across the country for various applications.

Asia-Pacific Cross-Laminated Timber Industry Segmentation

Cross Laminated Timber (CLT) is an engineered wood product, consisting of planks of sawn, glued, and layered wood, where each layer is oriented at right angles to one another and then glued to form structural panels. By joining layers of wood at perpendicular angles, structural rigidity for the panel is obtained in both directions, similar to plywood but with thicker components.

The Asia-Pacific cross-laminated timber market is segmented by type, application, and geography. By type, the market is segmented into adhesive bonded and mechanically fastened. By application, the market is segmented into residential and non-residential (commercial, industrial/institutional, and other applications). The report also covers the size and forecasts for the cross-laminated market in four countries across the Asia-Pacific. For each segment, the market sizing and forecasts have been done based on volume (thousand cubic meters).

Type
Adhesive Bonded
Mechanically Fastened
Application
Residential
Non-Residential
Commercial
Industrial/Institutional
Other Applications
Geography
China
India
Japan
South Korea
Rest of Asia-Pacific
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Asia-Pacific Cross-Laminated Timber Market Size Summary

The Asia-Pacific cross-laminated timber market is poised for growth, driven by the increasing demand in the commercial construction sector. This market, which experienced setbacks due to the COVID-19 pandemic, is on a recovery trajectory as industrial activities resume. Cross-laminated timber (CLT) is gaining traction as a sustainable alternative to traditional building materials like steel and concrete, thanks to its low carbon footprint and aesthetic appeal. The material is being increasingly used in various commercial buildings across the region, including significant projects in Australia and Singapore. China's robust consumption of timber and its ongoing infrastructure investments further bolster the market's expansion, despite challenges such as moisture absorption risks.

The market landscape in the Asia-Pacific region is characterized by a few key players, including Stora Enso, Timberlink Australia & New Zealand, KLH Massivholz GmbH, HASSLACHER Holding GmbH, and Holmen. These companies are actively expanding their operations and product offerings to meet the growing demand for sustainable construction solutions. For instance, Stora Enso's introduction of the Sylva product line underscores the industry's shift towards innovative and eco-friendly building materials. The market's growth is also supported by government initiatives in China aimed at revitalizing the construction sector, which is expected to drive further demand for cross-laminated timber in the coming years.

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Asia-Pacific Cross-Laminated Timber Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Commercial Sector in the Region

      2. 1.1.2 Increasing Popularity of Cross-Laminated Timber Over other Traditional Wood Materials

    2. 1.2 Restraints

      1. 1.2.1 Moisture Absorption Related Risks of the Material

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Type

      1. 2.1.1 Adhesive Bonded

      2. 2.1.2 Mechanically Fastened

    2. 2.2 Application

      1. 2.2.1 Residential

      2. 2.2.2 Non-Residential

        1. 2.2.2.1 Commercial

        2. 2.2.2.2 Industrial/Institutional

        3. 2.2.2.3 Other Applications

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 India

      3. 2.3.3 Japan

      4. 2.3.4 South Korea

      5. 2.3.5 Rest of Asia-Pacific

Asia-Pacific Cross-Laminated Timber Market Size FAQs

The Asia-Pacific Cross-Laminated Timber Market size is expected to reach 63.60 thousand cubic meters in 2024 and grow at a CAGR of 4.56% to reach 79.49 thousand cubic meters by 2029.

In 2024, the Asia-Pacific Cross-Laminated Timber Market size is expected to reach 63.60 thousand cubic meters.

Asia-Pacific Cross-Laminated Timber Market Report Snapshots

Asia-Pacific Cross-Laminated Timber Market Size & Share Analysis - Growth Trends & Forecasts (2024-2029)