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Cross Laminated Timber Market to Rise at 13.7% CAGR till 2027; Company Mergers and Acquisitions Will Provide Impetus to Market Growth

June 12, 2020 | Chemicals & Materials

The global cross laminated timber market size is projected to reach USD 2,062.2 million by the end of 2027. The high investment in product R&D will aid the growth of the market in the coming years. According to a 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 will exhibit a CAGR of 13.7% during the forecast period, 2020-2027.

Cross laminated timber (CLT) is as engineered product that is inclusive of several layers of wood. The properties of CLT such as improved insulation have allowed improved product applications. The growing demand for the product accounting to the increasing applications will create several opportunities for the companies operating in the market. The presence of several companies will have a huge impact on the growth of the market in the foreseeable future. The use of material such as conventional alpine wood will allow improved product efficacies. The demand for environment-friendly products will open up a huge potential for the companies in the market. The rise of the construction industry will fuel the demand for the product. Recent advancements in boding technologies have yielded products with higher product efficacies, subsequently aiding the growth of the market in the foreseeable future.

Binderholz GmBH Announces Expansion of CLT Production

The report highlights a few of the major industry developments of recent times and states their impact on the growth of the market. The increasing applications of CLT across the world have created massive platforms for the companies operating in the market. Accounting to the huge demand for the product, companies are looking to invest huge capital towards the production of cross laminated timber. In August 2019, Binderholz GmBH announced that it has expanded the production capacity of CLT through the integration of a new manufacturing plant. The company introduced a new digitized and fully automated manufacturing plant in Burgbernheim. Through this plant, the company will increase its production capacity to 320,000 cubic meters. Binderholz’s latest manufacturing plant will help the company offer improved services to customers and acquire a wider consumer base across the world. Binderholz’s latest manufacturing plant will have a positive impact on the growth of the overall market in the coming years. The report highlights a few of the other industry developments of recent times and discusses their impact on the growth of the market.

To get a detailed report summary and research scope of this market, click here:


Growth of Construction Industry Will Aid Growth

The report includes a few of the factors that have contributed to the growth of the overall market in recent years. The rise of the construction industry and increasing construction and infrastructure activities will lead to a wider product adoption across the world. The increasing demand for sustainable products will create several growth opportunities for the companies operating in the market. The resistance of CLT to external factors is a primary factor why it is used on a large scale across diverse industrial applications.

Major Companies are Focused on Expanding Production Volume

The massive demand for cross laminated timber across the world is consequential to the growing applications of the products. Accounting to the high product demand, there are several companies operating in the market. With healthy market competition, most of these companies are focused on adopting newer strategies that will help them establish a formidable position in the market. It is observed that a majority of the companies are looking to increase their production capacities to cater to the increasing demand for the product.

List of companies profiled in the report:

  • 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

Industry Developments:

  • December 2019: Structurlam Mass Timber Corporation announced that it will be expanding its operations in the United States with the construction of a new production plant in Conway, Arkansas that is set to open in mid-2021.

The global CLT market is segmented on the basis of:



Study Period


Base Year


Forecast Period


Historical Period



Volume - Thousand cubic meters (TCM) Value - USD Million (US$ Mn)


By Bonding Technology

  • Adhesive Bonded

  • Mechanically Fastened

By Application

  • Residential Buildings

  • Non-Residential Buildings

  • Others

By Region

  • North America (U.S., and Canada)

  • Europe (Germany, UK, Italy, France, Switzerland, Austria, Czech Republic, and Rest of Europe)

  • Asia Pacific (Japan, Australia & New Zealand, China, India, and Rest of Asia Pacific)

  • Rest of World (South Africa, Mexico, and Others)

Cross Laminated Timber CLT Market
  • PDF
  • 2019
  • 2016-2018
  • 150


  • 4850

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