Dublin, Aug. 22, 2024 (GLOBE NEWSWIRE) -- The "Cross Laminated Timber (CLT) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Cross Laminated Timber (CLT) is estimated at US$1.4 Billion in 2023 and is projected to reach US$3.8 Billion by 2030, growing at a CAGR of 14.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the Cross Laminated Timber market is driven by several factors, including increasing environmental awareness, advancements in building technologies, and supportive government policies. As the construction industry seeks to reduce its carbon footprint, CLT has emerged as a viable solution due to its low environmental impact and renewable nature. Technological advancements have improved the manufacturing efficiency and performance characteristics of CLT, making it more competitive with traditional building materials.
Additionally, regulatory changes and building codes in many regions now recognize and support the use of mass timber in construction, encouraging wider adoption. The rising demand for sustainable and energy-efficient buildings, coupled with the material`s aesthetic appeal and design flexibility, is further propelling market growth. Moreover, the ongoing research and development efforts aimed at enhancing the fire resistance and durability of CLT are expanding its application range, ensuring continued market expansion in the coming years.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Residential Application segment, which is expected to reach US$1.9 Billion by 2030 with a CAGR of a 15.7%. The Institutional Application segment is also set to grow at 14.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $245.1 Million in 2023, and China, forecasted to grow at an impressive 17.6% CAGR to reach $337.8 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Stora Enso Oyj, Moelven Industrier ASA, Holmen AB, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 351 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.4 Billion |
| Forecasted Market Value (USD) by 2030 | $3.8 Billion |
| Compound Annual Growth Rate | 14.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Cross Laminated Timber (CLT) - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Cross-Laminated Timber: A Sustainable Construction Material
- CLT Panels Production
- Benefits of Cross-laminated Timber (CLT)
- Lightweight Nature & Fast Installation
- Fire Protection
- Sustainability
- Aesthetic Appeal
- Key Advantages of Using Cross-Laminated Timber in Building Construction Projects
- Global Economic Update
- Market Prospects & Outlook
- Global Cross-Laminated Timber Market to Witness Rapid Growth
- Interplay of Vibrant Drivers Augmenting Growth of Cross-Laminated Timber Market
- Rising Popularity across Residential Sector
- Strong Focus on Sustainable Living
- Favorable Government Regulations
- Product Type Analysis
- Application Analysis
- Residential: Primary Application Segment
- Regional Analysis
- North America Set to Rise Notably
- Asia-Pacific to Exhibit Fast Growth
- Competitive Landscape
- Recent Market Activity
- GLOBAL BRANDS
MARKET TRENDS & DRIVERS
- Recovery in Global Construction Sector Bodes Well for long-Term Growth
- Growing Focus on Sustainability to Drive CLT Demand
- Growing Adoption of Green Building Initiatives Positively Influences Demand for CLT
- Proliferation of CLT-based Buildings in Developed Countries
- Mass Timber Gains Traction as a Sustainable Building Material in US Construction Projects
- Building Renovations & Remodeling: Prominent Revenue Generating Vertical
- Large Adoption of CLT in Commercial Construction
- Lucrative Opportunities in Emerging Economies
- Green Building codes Enforcement in Asia Pacific Region to Drive Market Demand
- Increasing Use of Adhesive Bonded CLT Across End-Use Industries
- Mechanically Fastened CLT Market Witnesses Increased Popularity
- Favorable Demographics Strengthen Market Prospects
- Urban Sprawl Encourages a Positive Tide
- Burgeoning Middle Class Population
- Rising Standards of Living
FOCUS ON SELECT PLAYERS(Total 60 Featured)
- Stora Enso Oyj
- Moelven Industrier ASA
- Holmen AB
- Ramboll Group A/S
- Lignotrend GmbH & Company KG
- Setra Group AB
- Binderholz GmbH
- Freres Lumber Co., Inc.
- HASSLACHER Holding GmbH (Hasslacher Norica Timber)
- Nordic Structures
- Mercer International Inc.
- Pfeifer Holding GmbH
- Segezha Group
- W. U. J. Derix GmbH & Co.
- Ledinek Engineering d.o.o.
For more information about this report visit https://www.researchandmarkets.com/r/s961c8
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