The global cross laminated timber (CLT) market is expected to grow at growth rate of 3.5% to reach USD 1,830.21 Million by 2032.

Cross-laminated timber (CLT) is an engineered wood product that is quickly gaining popularity as a sustainable alternative to concrete and steel construction in commercial and multi-family applications around the world. The system is made up of multilayer panels made of solid wood boards that have been stacked crosswise and glued together. Cross-lamination improves rigidity, dimensional stability, and mechanical properties. CLT structurally outperforms concrete or steel, with panels suitable for use as walls, floors, roofs, and other applications.

Because CLT panels are strong and stiff, they can be used in a variety of applications. Since its introduction in the early 1990s, the use of CLT panels has become a successful and popular method of construction in Europe. It is currently used for a wide range of structures, including houses, barns, powerline towers, churches, and bridges, as well as high-rise apartment and office buildings, increasing the system's visibility and reputation.

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The growing urban population is driving the market for cross laminated timber indirectly. In the Asia Pacific region, there is a population shift from rural to urban areas. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the Asia Pacific region's population is expected to reach 5.1 billion by 2050, with urban populations accounting for at least 64% of the total.

Furthermore, rising living standards are expected to drive a surge in demand for improved construction products such as prefabricated construction; this is expected to drive demand for cross laminated timber in Asia, as it is simple to construct: it is a flat, massive, and large-scale element that allows designs similar to those of concrete while offering numerous advantages such as being renewable, sustainable, lighter, faster, and so on.

KEY BENEFITS OF THE REPORT:

• Understanding of the strategies that are being adopted by the key players in this market to stay competitive
• Extensive analysis of the key players dominating the competitive landscape of this market
• In-depth analysis of the key factors are propelling the growth of the global market
• Detailed analysis of the geographic region that will witness the strongest growth
• Granular analysis of the current market scenario and the expected market grow

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

The scope of this report covers the market by its major segments, which include as follows:

GLOBAL CROSS LAMINATED TIMBER (CLT) MARKET KEY PLAYERS

• Mayr-Melnhof Holz
• Stora Enso
• Binderholz GmbH
• Eugen Decker Holzindustrie Kg
• Hasslacher Holding GmbH
• Schilliger Holz Ag
• Klh Massivholz GmbH
• Structurlam
• Xlam Nz Limited
• Pfeifer Holding GmbH

GLOBAL CROSS LAMINATED TIMBER (CLT) MARKET, BY PRODUCT

• Adhesive Bonded
• Mechanically Fastened

GLOBAL CROSS LAMINATED TIMBER (CLT) MARKET, BY APPLICATION

• Residential Buildings
• Non-Residential Buildings
• Others

GLOBAL CROSS LAMINATED TIMBER (CLT) MARKET, BY REGION

• North America
• The U.S.
• Canada
• Europe
• Germany
• France
• Italy
• Spain
• United Kingdom
• Russia
• Netherlands
• Sweden
• Poland
• Rest of Europe
• Asia Pacific
• India
• China
• South Korea
• Japan
• Australia
• Thailand
• Indonesia
• Philippines
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Rest of LATAM
• The Middle East and Africa
• Saudi Arabia
• United Arab Emirates
• Israel
• Turkey
• Algeria
• Egypt
• Rest of MEA

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