交叉复合木材市场规模、分享和趋势乐鱼体育手机网站入口Analysis Report By Product (Adhesive Bonded CLT, Mechanically Fastened CLT), By Application (Residential, Institutional), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global cross laminated timber market size was estimated at USD 955.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.6% from 2021 to 2028. Superior design flexibility and faster installation processes in comparison to other building materials are likely to benefit the market over the forecast period. The construction industry across the globe registered a steep decline due to the advent of COVID, with governments resorting to the suspension of all construction activities. This led to a sudden dip in the demand for cross laminated timber. However, the resumption of the construction activities during the later part of 2020 and 2021 led to industry growth.

The market in the U.S. is expected to exhibit growth owing to the high demand from the end-user segment. Factors such as high disposable income, large market size, the ability of established players to mass-produce, and an extensive range of products are expected to boost the cross laminated timber market growth in the region.

The transition as a trend towards using environment-friendly products that have a minimum adverse impact, as per the VOC regulations of U.S. EPA, and green building initiatives are the major forces positively impacting the market. The growing awareness among the consumers pertaining to the benefits of Cross Laminated Timber (CLT) in the construction industry is projected to drive the market.

CLT-based建筑已成为共同在北erica and European regions. The majority of the construction in these areas are now utilizing wood-based materials to improve the overall thermal performance and durability of the structure. Major construction companies across the globe are increasingly shifting toward cross laminated timber and other wood-based construction materials.

Product Insights

The adhesive bonded cross laminated timber product type led the market and accounted for more than 88.4% share of the global revenue in 2020. The use of high-strength adhesives used for the bonding of planks is projected to propel its demand across various application industries including residential, institutional, commercial, and others.

The manufacturing cost of adhesive bonded cross laminated timber is less as compared to mechanically fastened CLT, owing to less usage of machinery. In addition, the adhesive-bonded cross laminated timber panels can be converted to biofuel pellets at the end of their life cycle. These panels are custom manufactured to their final dimensions, as per the construction needs, leading to less wastage of wood.

Mechanically fastened cross laminated timber is produced by joining three or more layers of lumbers by nails and screws using mechanical systems. The making of such CLT does not involve the usage of adhesives and press machines. The mechanically fastened CLT market is still in its nascent stage and has limited adoption in some developed countries in Europe & North America.

The production of mechanically fastened cross laminated timber is highly complex, as compared to adhesive-bonded CLT, due to the need for highly skilled labor for the operation of the fastening machines. The chances of raw material wastage are also high in this case, as the improper application of screws at one point may cause problems in the entire assembly.

Application Insights

The residential application segmented the market and accounted for more than 45.3% of the global revenue share in 2020, owing to the rising use of eco-friendly construction materials and seismic bearing capacity, is expected to result in increased consumption in earthquake-prone areas, such as Japan, India, and Mexico, over the forecast period.

The high structural strength and recyclability of cross laminated timber are expected to drive market growth in the residential sector. Rising investments by governments across various countries in Asia Pacific, North America, and Europe, towards the adoption of environmentally friendly materials for the reduction of the carbon footprint of the construction industry, are expected to drive the market growth.

The cross laminated timber is used in various institutional places such as schools, colleges, and research institutes for building walls, floors, and ceilings in classrooms, libraries, laboratories, and amphitheaters. This is attributed to the excellent acoustic properties and aesthetic appeal of the material, thereby benefiting the market growth.

The usage of cross laminated timber in several commercial buildings such as offices, malls, hospitals, and restaurants is expected to rise over the forecasted period, owing to its wide benefits such as fast installation, design flexibility, and high fire resistance. CLT is prefabricated and its usage involves the installation of cross laminated timber at the required application, which reduces the construction time.

Regional Insights

Europe dominated the cross laminated timber market and accounted for over 58.8% share of global revenue in 2020, owing to the green building movement initiated in the region. In addition, trends for using wooden products in construction applications are expected to support the market growth over the forecast period.

The cross-laminated timber market in North America is majorly driven by the demand from the U.S. Strong growth in application industries in Canada and Mexico is further likely to provide growth prospects to the regional demand for cross laminated timber products. However, various regulations pertaining to wood products have been issued in the region, thus may hamper the market growth.

The enforcement of green building codes by various governments in the Asia Pacific region is anticipated to aid the market growth. The region is generally characterized by high temperature and extreme climatic conditions, thus consumers in the region prefer concrete construction over wooden construction, which is likely to restrict the market growth.

Expansion of commercial, residential, and industrial sectors on account of sustainable economic growth in the region is anticipated to upscale the construction activities, thereby driving the product demand. Flourishing tourism in the region has led to an increasing requirement for restaurants, resorts, and food chains, thereby driving the market.

Key Companies & Market Share Insights

The market is less competitive owing to the presence of limited manufacturers consolidated in the European region, serving major economies across the globe including North America and Asia-Pacific. These manufacturers compete based on product quality such as wood thermal resistance, surface finish, and prices to increase their applications

Some key players also own forest land and use it to source timber for the manufacture of their processed products. For instance, Mayr-MelnhofHolz Holding AG has achieved a high value-added chain with vertical integration by sourcing wood from its forest and manufacturing engineered wood in its production facility to maintain the economies of scale to the highest level. Some of the prominent players in the cross laminated timber market include:

• Stora Enso Oyj

• Mayr-MelnhofHolz Holding AG

• Binderholz GmbH

• XLam

• Sterling Company

• SchilligerHolz AG

• KLH Massivholz GmbH

• B&K Structures

• Eugen Decker & WebMan

• Structurlam Mass Timber Corporation

• SmartLam NA

• MEIKEN LAMWOOD Corp

Cross Laminated Timber Market Report Scope

Report Attribute	Details
3月ket size value in 2021	USD 1,043.3 million
Revenue forecast in 2028	USD 2.7 billion
Growth Rate	从2021年到2028年的复合年增长率13.6%
Base year for estimation	2020
Historical data	2017 - 2019
Forecast period	2021 - 2028
Quantitative units	Volume in Thousand Cubic Meters, Revenue in USD million, and CAGR from 2021 to 208
Report coverage	Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Product, application, region
Regional scope	North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope	U.S.; Canada; Mexico; Austria; Germany; Switzerland; Italy; New Zealand; China; Japan; Australia
Key companies profiled	Stora Enso Oyj; Mayr-MelnhofHolz Holding AG; Binderholz GmbH; XLam; Sterling Company; SchilligerHolz AG; KLH Massivholz GmbH; B&K Structures; Eugen Decker &WebMan; Structurlam Mass Timber Corporation; SmartLam NA. MEIKEN LAMWOOD Corp
Customization scope	Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global cross laminated timber market report on the basis of product, application, and region:

• Product Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 - 2028)

  • Adhesive Bonded Cross Laminated Timber

  • Mechanically Fastened Cross Laminated Timber

• Application Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 - 2028)

  • Residential

  • Institutional

  • Commercial

  • Others

• Regional Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Austria

    • Germany

    • Switzerland

    • Italy

  • Asia Pacific

    • New Zealand

    • China

    • Japan

    • Australia

  • Central & South America

  • Middle East & Africa