Cross-Laminated Timber Market Being Driven By Easy and Faster Installation, Cost Effectiveness, Versatility and Design Flexibility
The global cross-laminated timber market was worth around 725,000 cubic metres in 2015, growing at a CAGR of around 17% during 2008-2015. Austria is currently the largest producer of cross laminated timber worldwide. Austria was followed by Germany, Italy, Switzerland, Canada, Czech Republic, the USA, Sweden and Spain.
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Cross-laminated timber (CLT) is an engineered wood product. The panel consists of several layers with each new layer glued at 90 Degrees to the last one. This cross-laminated configuration provides strength, dimensional stability, rigidity and increases the static load-carrying capacity of CLT. Due to this, they offer performance comparable to concrete or steel in construction applications. CLT offers many advantages like easy and faster installation, cost effectiveness, versatility and design flexibility because of their light weight and high strength. Their manufacturing process also produces less greenhouse gas emissions which in turn provides a healthy living environment. Currently, they are being used in all kinds of structures like houses, barns, churches, power line towers, bridges, high- rise apartments, office buildings, etc.
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According to IMARC’s latest study “Cross-Laminated Timber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022” the global cross-laminated timber market was around 725,000 cubic metres in 2015, growing at a CAGR of around 17% during 2008-2015. CLT is particularly gaining popularity in Europe and North America where they are being adopted as a sustainable alternative to concrete and steel in commercial and multi-residential construction applications. Europe accounts for a mammoth share of the total global production of CLT and continues to be the fastest growing market. This report has analysed the market performance of cross laminated timber across various region and finds that Austria is the largest producer worldwide. Austria was followed by Germany, Italy, Switzerland, Canada, Czech Republic, the USA, Sweden and Spain. Currently, education sector, residential and non-residential applications are driving the demand for CLT globally. Looking forward, the global cross-laminated timber market is expected to grow further in the next five years with Europe continuing to be the largest player.
This report provides a comprehensive study for setting up a cross-laminated timber manufacturing plant. The study covers a macro overview of the market as well as the micro details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the cross-laminated timber market in any manner.
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