Cross Laminated Timber Market to Reap Over US$ 903.9 Mn in Revenues by End of 20

Posted by Pradnya on March 5th, 2019

The cross laminated timber market report by Persistence Market Research covers information about market trends, volume (cubic metre) and value (US$ Mn) projections, market dynamics and recent developments in the global cross laminated timber market for the study period 2018 to 2026.

Cross laminated timber is primarily utilized in the construction of commercial, single and multifamily housing and high rise buildings. Attributing to its high stiffness and in-plane and out-of-plane bearing capacity, it is utilized in the form of floor or wall panels. Its favorable environmental, aesthetic and energy properties further enhance the quality of the construction.

The global cross laminated timber market is estimated to have been valued at US$ 508.4 Mn by 2017 end and is expected to reach US$ 903.9 Mn by the end of 2026 while expanding at a CAGR of 6.6% over the forecast period. The global cross laminated timber market is anticipated to represent an incremental opportunity of US$ 360.2 Mn between 2018 and 2026.

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Increasing Demand for Timber Construction to Assist Sales of Cross Laminated Timber

Timber construction technology has undergone a substantial change in the past few decades with the development of new materials and understanding of timber properties. One of the most representative products of re-evaluation of timber construction is cross laminated timber. Building manufacturers and contractors are employing materials with lower environmental impact and eyeing wood, specifically cross laminated timber, a timber that has a smaller environmental footprint as compared to that of concrete and steel. Attributing to these reasons, the demand for cross laminated timber is expected to rise in near future.

Expansion of Production Facilities to Increase the Overall Capacity and Cater to a Large Customer Base

Prominent manufacturers involved in the production of cross laminated timber are continuously focusing on investments in their production facilities to transform themselves into prominent suppliers of low environmental impact timber solutions to replace concrete and steel in construction projects across the globe. For instance, in September 2017, Stora Enso Oyj announced an investment of US$ 51.0 Mn into the development of its production line, thereby making the company one of the prominent suppliers of cross laminated timber across the globe.

Residential Sector to Register Highest Value and Volume CAGR Among All End-use Segments in the Cross Laminated Timber Market

Among all end-use segments analyzed in this global cross laminated timber market study, the residential segment is expected to register about 1.6X growth in terms of value. In the recent past, utilization of cross laminated timber in the construction of residential and single-family housing has grown at a significant pace.

In terms of incremental opportunity, commercial & institutional and industrial segments, together, are expected to account for more than 2/5^th of the overall incremental opportunity created during the forecast years in the global cross laminated timber market.

Europe to Accumulate High Volume and Value Share in the Cross Laminated Timber Market

The introduction of environmental regulations pertaining to the utilization of timber-based construction materials in buildings is expected to push the demand for cross laminated timber in Europe. Moreover, cross laminated timber-based buildings have a low carbon footprint as compared to alternative materials in the market.

The Middle East & Africa region is expected to register 1.8X growth in the cross laminated timber market. Various countries, including Mexico and Brazil, in the region are expected to exhibit significant growth during the forecast period in the cross laminated timer market, owing to the increasing demand from residential as well as commercial & institutional sectors. All the other regions are expected to exhibit relatively moderate growth over the forecast period in the global cross laminated timber market.

Cross Laminated Timber Market – Competitive Landscape

Some of the participants included in this report involved in the global cross laminated timber market are Stora Enso Oyj, Binderholz GmbH, Mayr-Melnholf Holz Holding AG, KLH Massivholz GmbH, HASSLACHER Holding GmbH, Structurlam Mass Timber Corporation, Eugen Decker Holzindustrie KG, Ed. Zublin AG, Schilliger Holz AG, W.u.J. Derix GmbH & Co. and weinberger-holz GmbH.