Cross Laminated Timber Market is expected to reach USD 3.12 Bn. by 2029 APAC CLT industry to dominate the global CLT market by 2029

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Cross Laminated Timber Market is expected to reach USD 3.12 Bn. by 2029 APAC CLT industry to dominate the global CLT market by 2029

December 05
20:00 2022
Cross Laminated Timber Market is expected to reach USD 3.12 Bn. by 2029 APAC CLT industry to dominate the global CLT market by 2029
Cross Laminated Timber Market
Cross Laminated Timber Market size was valued at US$ 1.08 Bn. in 2021 and the total Cross Laminated Timber revenue is expected to grow at 14.2% from 2022 to 2029, reaching nearly US$ 3.12 Bn.

Pune, Dec 05, 2022: MMR has published a report on the Cross Laminated Timber Market on 28th November 2022. As per the “Global Cross Laminated Timber Market” report, the total market was worth USD 1.08 Bn. in 2021 and is expected to reach USD 3.12 Bn. by 2029 at a CAGR of 14.2% during the forecast period.

Cross Laminated Timber Market Report Scope & Research Methodology:

The Cross Laminated Timber Market Report’s competitive landscape provides details by competitor e.g. company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, and product launch. The bottom-up technique has been widely utilized throughout the entire market engineering process, along with multiple data triangulation methodologies, to perform market estimation and forecasting for the overall market segments and sub-segments covered in the report.

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Cross Laminated Timber Market Overview:

Cross Laminated Timber (CLT), a prominent building material in Europe and gaining popularity elsewhere, is remarkable for its strength, appearance, adaptability, and sustainability. It is a sustainable material since it is made of wood, a renewable resource (often from reforestation), and the manufacturing process does not require fossil fuels. It has been utilized on big construction sites as infrastructure and support, as forms for concrete bridges, and even as tractor supports during dam construction in difficult terrain. Its remarkable appearance and structural strength have prompted interest in its usage in smaller constructions. CLT components are currently being used in the construction of skyscrapers.

Cross Laminated Timber Market Dynamics:

Recent project developments illustrate mass timber’s ever-expanding potential. The T3 Tower in Minneapolis, the country’s first mass timber office skyscraper, boosted its environmental value by using wood from trees classified as trash as a result of a mountain pine beetle infestation. The industry and the University of California, Berkeley are collaborating to demonstrate how to mill lower-value, small-diameter logs into mass wood panels, which will assist forest regeneration and fire control. To honor its 350th anniversary in 2041, Sumitomo Forestry Company of Japan has planned a 70-story mass wood and steel skyscraper across the Pacific.

Cross Laminated Timber Market Regional Insights:

The APAC CLT market is expected to grow at a CAGR of 6.1% during the forecast period. Wood construction provides exciting opportunities in China; yet, there is a significant supply-demand mismatch between indigenous timber availability and demand. Currently, the bulk of dimension timber used in CLT construction in China is imported. As a result, high transportation and customs fees curtail the CLT’s popularity. Although imported lumber from the international market can help to ease the current problem of wood supply and demand, dependence on imported timber is detrimental to the growth of China’s building sector.

As a result, new materials for CLT manufacture are essential. Bamboo-wood composite CLT, if properly manufactured using bamboo- and wood-based components would be a breakthrough engineered composite product with Chinese characteristics and high strength and aesthetic attributes. NFU (Nanjing Forestry University) and SCLC (Sino-Canada Low-Carbon Technology Research Institute) have earned or jointly submitted many Chinese patents on such commodities

Cross Laminated Timber Market Segmentation:

By Type:

  • Adhesive Bonded
  • Mechanically Fastened

By Application:

  • Residential
  • Institutional
  • Commercial
  • Others

By End-Use:

  • Structural
  • Non-structural

Cross Laminated Timber Market Key Competitors:

  • Stora Enso
  • Mayr-MelnhofHolz Holding AG
  • Binderholz GmbH
  • XLam
  • Sterling Company
  • SchilligerHolz AG
  • KLH Massivholz GmbH
  • B&K Structures
  • Eugen Decker & WebMan
  • Structurlam CLT Corporation
  • SmartLam NA
  • MEIKEN LAMWOOD Corp
  • Hasslacher Holding GMBH
  • Ante-Group
  • Ed. Züblin AG
  • Nordic Structures
  • Western Structures, Inc.
  • Freres Lumber Co.
  • DR Johnson Wood Innovations
  • StructureCraft

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.maximizemarketresearch.com/request-sample/65493 

Key Questions answered in the Cross Laminated Timber Market Report are: 

  • What will be the CAGR of the Cross Laminated Timber Market during the forecast period?
  • Which are the prominent players in the Cross Laminated Timber Market?
  • What key trends are likely to emerge in the Cross Laminated Timber Market during the forecast period?
  • What is the expected Cross Laminated Timber Market size by 2029?
  • Which company held the largest share of the Cross Laminated Timber Market in 2021?
  • Which application segment is expected to emerge as the leading segment in the Cross Laminated Timber Market?
  • Which product segment held the largest share of the Cross Laminated Timber Market in 2021?

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