Pune, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a leading global Material & Chemical research firm that delivers market intelligence reports on the global and regional Material & Chemical industry has published a report on the “Cross Laminated Timber Market”. The report includes key business insights and market sizing by region, products and applications with forecast till 2029. The total market opportunity for the Cross Laminated Timber market was USD 1.08 Bn in 2021 and is expected to grow at 14.2 percent CAGR through the forecast period by reaching nearly USD 3.12 Bn.
Cross Laminated Timber Market Report Scope and Research Methodology
The main objective of the report is to provide a comprehensive analysis of the global market, including major leading stakeholders in the Cross Laminated Timber industry. The report covers all the essential aspects, including a macro overview of the market to the micro details of the industry performance, latest trends, key drivers, major challenges and opportunities prevailing in the market. It also provides a detailed analysis for setting up a manufacturing plant of cross-laminated timber. The research includes the analysis of the manufacturing and processing requirements, project funding, project cost, expected returns on investment, project economics, profit margins, etc. The report acts as a guide for investors, entrepreneurs, consultants, researchers and business analysts.
For easy understanding, the Cross Laminated Timber Market has been divided into three segments: type, application and end-use. These major segments of the Cross Laminated Timber Market have been further divided into various sub-segments. Maximize Market Research provides an analysis of the major trends in each sub-segment of the market along with forecasts at the global, regional and country levels during the forecast period.
The bottom-up approach has been used to estimate the Cross Laminated Timber Market size. The major market players in the Cross Laminated Timber Market are identified by using secondary research and their revenues have been determined through both primary and secondary research. SWOT analysis was conducted to provide the strengths and weaknesses of the Cross Laminated Timber Market. PORTER, PESTLE analysis was employed to understand the potential impact of micro-economic factors and macro-economic factors on the Cross Laminated Timber Market.
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Cross-Laminated Timber Market Overview
Cross Laminated Timber (CLT) is an engineered material whose popularity is increasing rapidly as an alternative to concrete and steel construction in institutional and multi-family applications in the construction industry. Its popularity is also increasing due to its strength, adaptability, appearance and sustainability. As it is made of wood, it is a sustainable material, a renewable resource, which doesn’t involve the use of fossil fuels in the manufacturing process.
Cross Laminated Timber Market Dynamics
The key drivers of the growth of the Cross Laminated Timber Market are increasing construction activity, increasing demand from the education sector and non-residential and residential applications. The shift of consumers’ and experts’ attention to the use of sustainable materials in the construction of homes and other infrastructure, such as timber due to the increasing awareness of the environmental destruction caused by brick and concrete manufacturing methods are also expected to drive the market growth. The flexible design and high adaptability of cross-laminated timber in stylish architecture are also expected to contribute to the growth of the market during the forecast period. The ability of wood to absorb moisture and the lack of consumer awareness are expected to limit the Cross Laminated Timber Market growth during the forecast period.
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Cross Laminated Timber Market Regional Insights
During the forecast period, the Cross Laminated Timber Market in the APAC region is expected to grow at a CAGR of 6.1 percent. In the region, China is the country having the largest market share. The Cross Laminated Timber Market in Europe region is expected to dominate the global market during the forecast period. This dominance is majorly due to the high adoption of material in the buildings because of the green building movement initiated in the area. The region also accounts for 65 percent of the global timber-based wood production.
| Market Size in 2021 | USD 1.08 Bn. |
| Market Size in 2029 | USD 3.12 Bn. |
| CAGR | 14.2% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 212 |
| No. of Tables | 102 |
| No. of Charts and Figures | 100 |
| Segment Covered | Type, Application and End-Use |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Cross-Laminated Timber Market Segmentation
By Type
- Adhesive Bonded
- Mechanically Fastened
By Application
- Residential
- Institutional
- Commercial
- Others
By End-Use
- Structural
- Non-structural
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Cross Laminated Timber Market Key Competitors include:
- Western Structures, Inc.(US)
- Freres Lumber Co.(US)
- Sterling Company(US)
- DR Johnson Wood Innovations(US)
- SmartLam NA(US)
- Stora Enso(Finland)
- Mayr-MelnhofHolz Holding AG(Austria)
- Binderholz GmbH GmbH(Austria)
- KLH Massivholz GmbH(Austria)
- Hasslacher Holding GMBH(Austria)
- XLam( New Zealand)
- SchilligerHolz AG(Switzerland)
- B&K Structures(UK)
- Eugen Decker & WebMan(Germany)
- Nordic Structures( Germany)
- MEIKEN LAMWOOD Corp(Japan)
- Ante-Group(Turkey)
- Ed. Züblin AG(Canada)
- StructureCraft(Canada)
- Structurlam CLT Corporation(Canada)
Key questions answered in the Cross Laminated Timbers Market are:
- What is Cross Laminated Timber?
- What are the global trends in the Cross Laminated Timber Market?
- What are the upcoming industry applications and trends for the Cross Laminated Timber Market?
- What are the factors contributing to the final price of Cross Laminated Timber?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Cross Laminated Timber Market?
- How is the intervention from regulatory authority shaping the Cross Laminated Timbers Market?
- What growth strategies are the players considering to increase their presence in Cross Laminated Timber?
- What are the major challenges that the Cross Laminated Timber Market could face in the future?
- Who held the largest market share in Cross Laminated Timber Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Type, Application, End-Us and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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