Market Research Report
Cross-Laminated Timber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||356066|
|Published||Content info||141 Pages
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|Cross-Laminated Timber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: April 8, 2019||Content info: 141 Pages||
The global cross-laminated timber market reached a value of US$ 664 Million in 2018. The market value is further expected to reach US$ 1,457 Million by 2024, exhibiting a CAGR of 13.4% during 2019-2024. Cross-laminated timber (CLT) is an engineered wood product that is rapidly gaining popularity across the globe as a sustainable alternative to concrete and steel construction in commercial and multi-residential applications. The system consists of multilayer panels made from solid wood boards stacked crosswise and glued together. The cross-laminated configuration improves rigidity, dimensional stability, and mechanical properties. Structurally, CLT offers performance comparable to concrete or steel, with panels suitable for use as walls, floors, roofs and other applications.
CLT panels are strong and stiff, which allows them to be used in a wide range of applications. The use of CLT panels has become a successful and popular method of construction in Europe since it was first introduced during the early 1990's. It is currently used for all kinds of structures ranging from houses, barns, powerline towers, churches and bridges to high-rise apartment and office buildings, adding visibility and reputation to the system.
The structures built with cross laminated timber require shorter period of construction time than traditional construction materials such as concrete and bricks. This is largely attributed to its light weight nature and easy and fast installation. Due to the faster construction time and cheaper built up costs, CLT offers a cheaper alternative over other popular construction material such as precast concrete to the building industry.
CLT can be used for an entire building or any combination of wall, floor/ceiling and roof applications. Its light weight and other characteristics make it highly adaptable to different types of projects, designs and site conditions like soft soils or tight proximity to neighbouring buildings. CLT elements can also be combined with other building materials which provides more flexibility in design, style and finish architecture. Moreover, any change in CLT can be made on site with simple tools.
Cross laminated timber since its inception has been largely confined to Europe. However, due to the increasing awareness about its advantages over other traditional construction material, architects and other stakeholders in the building industry in several markets such as China, Japan, United States, Canada, Australia, NewZealand, etc., are now considering cross laminated timber as a building material for their projects.
Cross laminated timber, over the years, has been mainly used as a building material in constructing low to mid rise buildings which mainly includes educational institutes and residential buildings. However, due to recent technical advancement, now structures up to 10 storeys can be built using cross laminated timber. Therefore, due to this technical advancement coupled with the aesthetic value that CLT adds to a structure, several construction companies are considering this product to build large commercial spaces.
This report provides a deep insight into the global cross-laminated timber market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a cross-laminated timber manufacturing plant. The study analyses the 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 have any kind of stake or are planning to foray into the cross-laminated timber industry in any manner.