Cross Laminated Timber Market 2022
The cross laminated timber Market is expected to be worth US$ 708.4 Mn in the year 2022 and grow 1.27 times by the year 2026. The market for cross laminated timber is expected to reach US$ 903.9 Mn by 2026, expanding at a CAGR of 6.3%. Europe Expected to Dominate the Global Cross Laminated Timber Market
The rising demand from the residential sector, as well as the high adaptability of cross-laminated timber in flexible designs and fashionable architecture, are major drivers driving the market. Cross-laminated timber is a structured wood panel manufactured by gluing layers of solid-sawn lumber that are symmetrically aligned perpendicular to adjacent layers and utilized as load-bearing parts for construction frames such as walls, floors, and roofs. Cross-laminated timber is also utilized for exterior cladding and interior lining. The residential sector dominates the market and is likely to grow over the forecast period due to the rising demand for wooden constructions due to its adaptability to stylish architecture.
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Key Companies –
- Store Enso Oyo
- Binderholz GmbH
- Mayr-Melnhof Holz Holding AG
- KLH Massivholz GmbH
- HASSLACHER Holding GmbH
- Structurlam Mass Timber Corporation
- Eugen Decker Holzindustrie KG
- Ed. Züblin AG
- Schilliger Holz AG
- W. u. J. Derix GmbH & Co.
- Weinberger-holz gmbh
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Europe holds the majority of the global market share. The use of cross-laminated timber is expanding in the region because of the growing construction sector in nations such as the United Kingdom, Germany, Italy, and France.
Europe also has the highest concentration of cross-laminated timber manufacturers. The growing number of new houses built with timber frames is contributing significantly to the region’s market growth. The demand for cross-laminated timber has been rapidly expanding due to the optimum use of cross-laminated timber, which minimizes building costs, time, and risk during earthquakes. In addition, more than 50,000 affordable houses will be built in Greater Manchester by 2038 as part of new plans to address the region’s “housing crisis,” offering a significant opportunity for the Cross Laminated Timber Market.
Key Questions Answered in Cross Laminated Timber Market Report –
- How much is the cross laminated timber market expected to be worth in 2022?
- What is the sales forecast for cross laminated timber through 2026?
- Which region holds the largest market share?
- Who are the key players in cross laminated timber market?
- What’s with China and Japan in cross laminated timber market?
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