Market Research Report
Cross Laminated Timber Market Analysis, By Type (Adhesive Bonded and Mechanically Fastened), By Region (North America, Europe, Asia Pacific, South & Central America, MEA), And Segment Forecasts 2014 - 2025
|Published by||Grand View Research, Inc.||Product code||557204|
|Published||Content info||131 Pages
Delivery time: 1-2 business days
|Cross Laminated Timber Market Analysis, By Type (Adhesive Bonded and Mechanically Fastened), By Region (North America, Europe, Asia Pacific, South & Central America, MEA), And Segment Forecasts 2014 - 2025|
|Published: August 10, 2017||Content info: 131 Pages||
The global cross laminated timber market is expected to be valued at USD 2.07 billion by 2025, according to a new report by Grand View Research, Inc. Rising awareness about the environmental hazards caused by the use of cement concrete in infrastructure construction coupled with rising number of cross laminated timber manufacturers and increasing demand for green homes are factors propelling the market growth.
The shift from concrete-based construction to wood-based construction along with supportive government initiatives around the world are positively influencing the market. In addition, decreasing overall cost of CLT construction owing to the increasing number of suppliers and shorter construction time is responsible for rise in demand.
The demand for wooden residential buildings, such as single-family homes and multifamily apartments, is increasing due to their aesthetic appeal and design flexibility. The improved fire resistance quality and earthquake-proof offered by cross laminated timber structure are expected to augment the market growth over the forecast period.
Institutional and commercial segments are expected to collectively account for 46.9% of the global market in 2025. The demand for these segments is attributed to low cost of construction and easy maintenance of cross laminated timber structures. Innovations in building and designing technologies are projected to boost the demand for cross laminated timber products over the forecast period.
Europe is the leading region owing to the early adoption of cross laminated timber and research & development on CLT technologies by countries such as Austria and Germany. The availability of timber from the forests of central European countries and advanced timber processing industries are the leading cause for market growth in the region. Countries like Canada, the U.S., New Zealand, Japan, and China in the North American and Asia Pacific regions are also rapidly developing markets for cross laminated timber.