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Cross Laminated Timber Market to Worth USD 2,062.2 Million 2027; Increasing Number of Company Mergers and Acquisitions Will Aid Growth, says Fortune Business Insights™

Top players profiled in cross laminated timber market report are Stora Enso (Finland), Mayr Melnhof Holz Holding AG (Austria), Binderholz GmbH (Austria), Xlam Ltd. (Australia & New Zealand), Sterling Company (USA), Schilliger Holz AG (Switzerland), KLH Massivholz GmbH (Austria), B&K Structures (UK), Eugen Decker Holzindustrie KG (Germany), Structurlam Mass Timber Corporation (Canada), Smartlam NA (USA), APA - The Engineered Wood Association (USA), Katerra (USA & India), IB EWP Inc. (Canada), Nordic Structures (Canada), StructureCraft Builders Inc. (Canada), DRJ Wood Innovations (USA), PFS Corporation (USA), and more companies

/EIN News/ -- Pune, Sept. 14, 2020 (GLOBE NEWSWIRE) -- According to a recent report published by Fortune Business Insights™, titled “Cross Laminated Timber Market Size, Share & Industry Analysis, By Bonding Technology (Adhesive Bonded and Mechanically Fastened), By Application (Residential Buildings, Non-Residential Buildings, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 756.9 million in 2019 and projected to reach USD 2,062.2 million by the end of 2027 at CAGR of 13.7% during the forecast period, 2020-2027.

The cross-laminated timber is a type of engineered wood that is used in applications that require product with higher load handling capabilities. The product is engineered with three layers of solid-sawn wood that are bind together with an adhesive or mechanical pressure. This is mainly done to increase the rigidity of the product and used in heavy-weight applications.

The product was initially developed in the Alpline countries of Europe and is gaining rapid popularity in North America as well as Asia Pacific. The increasing investment in the development of efficient products, driven by increasing applications of the product across diverse industries, will have a positive impact on the growth of the market in the coming years. The favourable properties of cross-laminated timber such as good acoustic and thermal insulation will fuel the demand for the product across the world.


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List of the Leading Companies Profiled in the Global Cross Laminated Timber Market are:

  • Stora Enso (Finland)
  • Mayr Melnhof Holz Holding AG (Austria)
  • Binderholz GmbH (Austria)
  • Xlam Ltd. (Australia & New Zealand)
  • Sterling Company (USA)
  • Schilliger Holz AG (Switzerland)
  • KLH Massivholz GmbH (Austria)
  • B&K Structures (UK)
  • Eugen Decker Holzindustrie KG (Germany)
  • Structurlam Mass Timber Corporation (Canada)
  • Smartlam NA (USA)
  • APA - The Engineered Wood Association (USA)
  • Katerra (USA & India)
  • IB EWP Inc. (Canada)
  • Nordic Structures (Canada)
  • StructureCraft Builders Inc. (Canada)
  • DRJ Wood Innovations (USA)
  • PFS Corporation (USA)
  • Other Key Players


Increasing Efforts taken to Maximize the Production of CLT Will Aid Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. It highlights a few of the key strategies adopted by major companies and discusses their impact on the overall market. Due to the increasing demand for CLT across the world, several large scale companies are looking to increase the production capacity of this material through the integration of advanced technologies. In December 2019, Structurlam Mass Timber Corporation announced that it has expanded its operations in the United States.

The company announced that it has begun the construction of its new manufacturing plant in Conway, Arkansus. The company claims that this plant will improve its production capacity and will open by the end of 2021. The company stated that it has invested around USD 90 million in the manufacturing plant with a view to addressing the massive product demand in the southern, eastern, and central parts of the United States.


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https://www.fortunebusinessinsights.com/enquiry/queries/cross-laminated-timber-clt-market-102884


Europe Accounted for the Highest Share; Increasing Construction Activities Will Provide Impetus to Market Growth

The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Europe is projected to emerge as the dominant region in the coming years. The increasing construction activities will lead to a wider product adoption, subsequently creating several growth opportunities for the companies operating in the market.

Driven by the massive demand for the product, the market in Europe accounts for around 65% of the overall market share. As of 2019, the market in Europe was worth USD 466.48 million and this value is projected to increase further in the coming years. The market in North America will witness considerable growth owing to the huge adoption of locally manufactured CLT.


Key Question Answered:

  • Detailed Segmentation
  • Top Companies Data
  • Market Size
  • Supply Trend
  • Target Audience
  • Key Geographies
  • Business Opportunities
  • Commerce Challenges
  • Demand Insights
  • CAGR Values
  • Historic Analysis


Industry Developments:

August 2019: Binderholz GmbH announced that it has expanded its cross-laminated timber production capacity by integrating a new, digitized, and fully automated plant at Burgbernheim, Germany.
                                              

Browse Detailed Overview of This Research:

https://www.fortunebusinessinsights.com/cross-laminated-timber-clt-market-102884


Have a Look at Related Research Insights:

Adhesives and Sealants Market Size, Share & COVID-19 Impact Analysis, By Adhesive Technology (Water-Based, Solvent-Based, Hot-Melt, Reactive), By Adhesive Application (Paper & Packaging, Building & Construction, Woodworking, Consumer/DIY, Automotive & Transportation, Leather & Footwear), By Resin (Silicone, Polyurethane, Plastisol, Emulsion, Polysulfide, Butyl), By Sealant Application, and Regional Forecast, 2020-2027

Cellulose Market Size, Share & Industry Analysis, By Derivative Type (Commodity Cellulose Pulp, Cellulose Fibers, Cellulose Ethers, Cellulose Esters, Microcrystalline Cellulose, Nanocellulose, and Others), By End-Use Industry (Textile, Food, Chemical Synthesis, Pharmaceuticals, Construction, Paper & Pulp, Paints & Coatings, and Others), and Regional Forecast, 2019-2026


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

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