According to the research report titled ‘Cross Laminated Timber (CLT) Market Size By Raw Materials (Spruce, Fir, Pine, Larch), By Press Type (Hydraulic, Vacuum, Pneumatic, Nails), By Application (Residential, Commercial, Industrial), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, cross laminated timber (CLT) market is anticipated to garner notable returns by the year 2027.
 

Flourishing industrial, commercial, and residential sectors, and high thermal performance of the product are the major growth contributors for cross laminated timber market.

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For the uninitiated, CLT or cross laminated timber, is a large-scale engineered wood product that is prefabricated. It is a lightweight, has high-strength with excellent fire, acoustic, and seismic characteristics. CLT is noted for being simple and quick to install, with minimal waste on site. Owing to its low environmental impact and design versatility, there is a high product demand.

Cross laminated timber is most typically used as load-bearing sections for construction frames such as roofs, floors, and walls. Interior lining and facade cladding are two other uses for these boards. When compared to other building methods, one of the key advantages of CLT is the reduced foundation design, which saves both time and money.

Based on raw material, the larch segment is poised to grow at a CAGR of 13.5% over the assessment period. Meanwhile, the other wood types segment held 1% of revenue share in 2020 and is anticipated to grow at rapid pace during the study timeframe.

In terms of press type, the nails segment of cross laminated timber industry accounted for more than 5% revenue shares in 2020 and is expected to grow constantly in the coming years.

On the basis of application, residential segment is predicted to amass a valuation of USD 1350 million by the end of forecast period, owing growing product adoption in high-rise residential buildings.

From the regional point of view, Latin America market is slated to record a CAGR of 12.9% during the forecast duration. Whereas, Middle East & Africa marketplace held a 12.1% revenue share in the recent past and is expected to grow at a robust pace during the analysis timeframe.

The key players in cross laminated timber marketplace are Lignotrend Produktions GmbH, Eugen Decker Holzindustrie KG, Structurlam, Katerra Inc., Hasslacher Norica Timber, HOISKO CLT, Pfeifer Group, KLH Massivholz GmbH, Ramboll UK Ltd., Binderholz GmbH, and Stora Enso Oyj.