Cross Laminated Timber Market Size (2024 - 2029)

The cross-laminated timber market is expected to experience steady growth, driven by increasing demand from the residential sector and its adaptability in flexible designs and stylish architecture. Despite challenges such as wood's moisture-absorbing capacity and limited consumer awareness, advancements in adhesives and resins present promising opportunities for expansion. Europe leads in market consumption, particularly in the United Kingdom and Germany, indicating a significant regional market size.

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Market Size of Cross Laminated Timber Industry

Cross Laminated Timber Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 3.00 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Low

Major Players

Cross Laminated Timber Market Major Players

*Disclaimer: Major Players sorted in no particular order

Cross Laminated Timber Market Analysis

The market for cross-laminated timber is projected to register a CAGR of over 3% during the forecast period.

COVID-19 negatively impacted the market in 2020 since construction work and other activities were put on hold to curb the spreading of the virus. However, the market is projected to grow steadily, owing to increased construction activities in 2021.

  • Over the short term, the increasing demand from the residential sector and adaptability in flexible designs and stylish architecture are major factors driving the growth of the market studied.
  • However, the moisture-absorbing capacity of wood and the dearth of awareness among consumers are the key factors anticipated to restrain the growth of the target industry over the forecast period.
  • Nevertheless, the development of advanced adhesives and resins is likely to create lucrative growth opportunities for the global market soon.
  • Europe dominates the cross-laminated timber market across the globe with the largest consumption from the United Kingdom and Germany.

Cross Laminated Timber Industry Segmentation

Cross-laminated timber consists of planks of sawn, glued, and layered wood, where each layer is oriented perpendicular to the previous. 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 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. The report also covers the market size and forecasts for the cross-laminated timber market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

Type
Adhesive-bonded
Mechanically Fastened
Application
Residential
Non-Residential
Commercial
Industrial/Institutional
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Cross Laminated Timber Market Size Summary

The cross-laminated timber market is experiencing a steady growth trajectory, driven by increasing demand from the residential sector and its adaptability in flexible designs and stylish architecture. Despite the initial setback due to the COVID-19 pandemic, which halted construction activities, the market has rebounded with a focus on sustainable building materials. Cross-laminated timber, known for its lightweight, strength, and environmental benefits, is gaining traction as a preferred alternative to traditional concrete materials, particularly in regions like Japan. However, challenges such as the moisture-absorbing nature of wood and limited consumer awareness pose constraints to market expansion. The development of advanced adhesives and resins presents promising opportunities for further growth.

Europe remains the dominant region in the global cross-laminated timber market, with significant consumption in the United Kingdom, Germany, and other countries. The region's construction sector is increasingly adopting cross-laminated timber due to its cost-effectiveness, reduced construction time, and earthquake resilience. Major producers in Europe, including Binderholz GmbH, Pfeifer Group, and Stora Enso, are expanding their production capabilities to meet rising demand. The market's fragmented nature is characterized by the presence of several key players, each contributing to the competitive landscape. As the construction of residential buildings continues to rise in Europe, the cross-laminated timber market is poised for sustained growth.

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Cross Laminated Timber Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Residential Sector

      2. 1.1.2 Adaptability In Flexible Designs And Stylish Architecture

    2. 1.2 Restraints

      1. 1.2.1 Moisture Absorbing Capacity of Wood

      2. 1.2.2 Dearth of Awareness Among Consumers

    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 Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

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

    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 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Cross Laminated Timber Market Size FAQs

The Cross Laminated Timber Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Binderholz GmbH, Stora Enso, PFEIFER GROUP, Mayr-Melnhof Holz Holding AG and HASSLACHER Holding GmbH are the major companies operating in the Cross Laminated Timber Market.

Cross Laminated Timber Market Report Snapshots

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