Mass-Engineered Timber Industry Data Book - Cross-laminated Timber, Laminated Veneer Lumber and Glue Laminated Timber Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
The global Mass-Engineered Timber Industry was valued at USD 9.49 billion in 2022 and is anticipated to increase at a significant CAGR of 6.5% from 2023 to 2030.
Grand View Research’s mass-engineered timber sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
Cross-laminated Timber Market Insights
The global cross laminated timber (CLT) market size was estimated at USD 1.18 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 15% from 2023 to 2030. Superior design flexibility and faster installation processes in comparison to other building materials are likely to benefit the industry over the forecast period. Cross laminated timber is increasingly used in construction applications owing to the rising awareness about the product benefits including design flexibility, fire resistance, superior thermal performance, cost-effectiveness, and others. In addition, a clean & noiseless construction process, reduced construction time, and low cost have increased the demand for the same.
CLT is increasingly being used for building and construction by replacing materials like steel or concrete, subsequently leading to higher energy conservation and significantly reduced environmental impact. In addition, businesses have realized the significance of adopting green or sustainable practices. Intangible gains, such as enhanced employee performance, better work satisfaction, and upgrades in the company’s image associated with these practices have induced every organization to adopt sustainable measures.
The rising demand for environment-friendly products that have a minimum adverse impact, as per the VOC regulations of the U.S. EPA, and green building initiatives are the major forces positively impacting the market. The growing awareness among consumers about the benefits of CLT in the construction industry is projected to drive the market’s growth.
Order your copy of the Free Sample of “Mass-Engineered Timber Industry Data Book - Cross-laminated Timber, Laminated Veneer Lumber and Glue Laminated Timber Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Glue Laminated Timber Market Insights
The global Glue Laminated Timber Market size was valued at USD 7.24 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030. Glue laminated timber, commonly known as glulam is a structural composite of lumber and adhesives. It is a wooden panel product which is manufactured from sawn softwood spruce or any other wood. Each piece of wood or lumber is end-jointed and arranged in horizontal or vertical layers or laminations. Glulam is being used for making columns and beams and for curved members that are being loaded in combined bending and compression.
Increasing demand for glulam owing to high thermal and insulation properties coupled with high resistance to chemicals is also a major driving factor for the market growth in both residential and commercial applications. A shift in the trend toward the replacement of conventional construction materials, such as steel and concrete, with lightweight, high-performance, and durable glulam has also spurred market growth.
Go through the table of content of Mass-Engineered Timber Industry Data Book to get a better understanding of the Coverage & Scope of the study
Mass-Engineered Timber Industry Data Book Competitive Landscape
Prominent manufacturers have been adopting various strategies including investments, agreements, partnerships, contracts, production capacity expansions, joint ventures, and collaborations, to gain greater market presence and to cater to the changing requirements of application industries.
Key players operating in the Mass-Engineered Timber Industry are:
- Mohawk Industries, Inc.
- Stora Enso Oyj
- Mayr-Melnhof Holz Holding AG
- Binderholz GmbH
- XLam
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