Selbyville, Delaware, April 27, 2021 (GLOBE NEWSWIRE) --
According to latest report “Cross Laminated Timber (CLT) Market by Raw Materials (Spruce, Fir, Pine, Larch), Press Type (Hydraulic, Vacuum, Pneumatic, Nails), Application (Residential, Commercial, Industrial), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of cross laminated timber will cross $2.25 billion by 2027. The product is witnessing increasing popularity in the emerging markets due to its sustainable nature and excellent properties compared to other laminated panels.
Cross laminated timbers have promising properties such as seismic resistance. Earthquake-prone countries, such as Japan, have shown keen interest in the usage of CLT in structural construction applications. CLT enables the construction of all wooden buildings more than 10-story high, thus the market will be driven by rising wooden building construction in Europe and North America. Furthermore, there is progress in reducing existing barriers in the CLT market including revision of building codes, pushing awareness of CLT in untapped geographical markers, and expanding the current product supply in major markets. Multistory residential buildings are growing in high-income countries and developing countries to accommodate the rising population. This will impel the market growth during the forecast period.
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Cross laminated timber market demand is highly influenced by the regulatory environment in major markets such as Europe and North America. Additionally, there is limited awareness about the product in non-developed countries.
The fir segment will observe more than 15% growth rate by 2027. Softwood is primarily used in the manufacturing of cross laminated timbers. Fir is an incredibly valuable commercial timber used in CLT production. Fir provides a great alternative to industry-dominated spruce species.
Pneumatic presses segment will account for 6% of the cross laminated timber market share in 2027. Pneumatic presses are safe, clean, and easy to utilize compared to hydraulic presses. The growing number of production lines will drive pneumatic presses demand.
The industrial sector held more than 10% of the market share in 2020. CLT is showcasing a strong demand growth from the industrial end-use sector. In North America, CLT was primarily used in the industrial sector.
The Asia Pacific cross laminated timber market is expected to grow at a CAGR of 16.5% through 2027. APAC is the fastest-growing market as a significant number of countries have little to no presence of CLT products.
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Production capacity increase has become popular among manufacturers due to rapidly rising product demand across the world. The major market participants include Stora Enso, Binderholz, KLH Massiveholz, Mayr-Meinhof, Hasslacher, Merck-Timber, Lingotrend, Eugen Decker, Zublin Timber, Katerra, XLam CLT, etc.
Table of Contents (ToC) of the report:
Chapter 3 Cross Laminated Timber (CLT) Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2017 – 2027
3.2.1 Covid-19 impact on Industry size
3.3 Industry ecosystem analysis
3.3.1 Vendor Matrix
3.3.2 Distribution Channel Analysis
3.3.2.1 Covid-19 impact on value chain
3.3.3 Profit margin analysis
3.3.4 Value addition analysis
3.3.5 Raw material analysis
3.3.5.1 Covid-19 impact on raw material supply
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.2 Industry pitfalls & challenges
3.5 Regulatory landscape
3.6 Growth potential analysis
3.7 Structural cross-laminated timber manufacturers as of 2017 (Country)
3.8 Regional price trends
3.8.1 Covid-19 impact on price trends
3.8.2 Cost structure analysis
3.9 Competitive landscape, 2020
3.10 Porter’s analysis
3.11 PESTEL analysis
3.12 COVID-19 impact on cross laminated timber by application
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/cross-laminated-timber-clt-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.