Timber Market With Cross Laminated

The global cross laminated timber market is segmented on the basis of type application and geography.

Timber market with cross laminated.

The global cross laminated timber market size was usd 756 9 million in 2019 and is projected to reach usd 2 062 2 million by 2027 exhibiting a cagr of 13 7 during the forecast period. The strength dimensional stability and rigidity of clt allow it to be used in mid and high rise buildings. The cross laminated timber market is further expected to grow at a cagr of 20 between 2020 and 2025 to reach a value of almost usd 233 million by 2025. Cross laminated timber clt is a wood panel system that is rapidly gaining popularity in the u s.

Cross laminated timber market size is likely to witness rapid growth in coming years due to escalating construction activities all over the world coupled with the rising trend of green construction projects. The product is used as a load bearing part in buildings and structures. Cross laminated timber clt was first introduced in the early 1990s in europe. Looking forward the market is expected to continue its moderate growth during the next five years according to a new report by imarc group.

After being widely adopted in europe. Global cross laminated timber clt market to reach 2 5 billion by 2027. The north america cross laminated timber market size reached a value of usd 78 million in 2019. Since then it has been.

In 2016 austria and germany cumulatively accounted for 68 29 of the european market revenue owing to the growing awareness toward wood as a building material. The growth of global construction industry can be attributed to rising population robust urbanization and. Cross laminated timber clt market scope. Austria is a rich source of softwood spruce and pine and accounts for the largest production of cross.

The european cross laminated timber market reached a volume of 821 270 cubic meters in 2019. Global cross laminated timber market revenue by type 2016 regional insights. The worldwide market for cross laminated timber market is expected to grow at a cagr of roughly x x over the next nine years and will reach us xx x mn in 2028 from us xx x mn in 2018 according to a new market us prudour research study. Amid the covid 19 crisis the global market for cross laminated timber clt estimated at us 992 4 million in the year.