The global cross laminated timber (CLT) market is growing at a considerable CAGR of 14.0% during the forecast period. The major factor that is augmenting the growth of the global cross laminated timber (CLT) is increasing activity associated with construction owing to the offering of lightweight, durable construction materials. For instance, as per the information highlighted by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development new residential construction is increasing in the country with the building permits around 1,873,000 and housing starting nearly 1,702,000 in the month of December 2021. Moreover, high adaptively of cross laminated timber along with the increasing trend towards using environment-friendly products are some other factors that are enhancing the growth of the market across the globe. However, the high cost of production is major factors constraints that are hindering the growth of the global cross laminated timber (CLT) market across the globe.
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However, increasing investment in green building is one of the key factors that are creating opportunities for the market. New product launches and investment in the market are likely to drive the growth of the global cross laminated timber (CLT) market. For instance, in January 2020, MAYR-MELNHOF HOLZ, had invested around $143.3 million in order to build a new cross-laminated timber (CLT) production facility in Leoben, which is considered as one of the largest investments made by the company. This investment would support in fulfilling the increasing demand for timber construction solutions in residential and industrial construction. Additionally, the federal government, the state of Styria, and the city of Leoben had also pledged their support in this owing to the upliftment in the economy.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Cross Laminated Timber (CLT) Market Report Segment
By Product
- Adhesive Bonded Cross Laminated Timber
- Mechanically Fastened Cross Laminated Timber
By Application
- Residential
- Institutional
- Commercial
- Others
Global Cross Laminated Timber (CLT) Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cross laminated timber (CLT) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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