(MENAFN- GlobeNewsWire - Nasdaq) Raipur, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the cross laminated timber market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Cross Laminated Timber Market is driven by a host of factors, some of which are noted below:
Growing cognizance about the environmental hazards caused by the use of cement concrete in infrastructure construction coupled with the increasing number of cross-laminated timber manufacturers and surge in demand for green homes. Furthermore, supportive government initiatives around the world accompanying the shift from concrete-based construction to wood-based construction are positively impacting the market. In addition, as the overall cost of CLT construction is decreasing on account of the increasing number of suppliers and shorter construction time.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Cross Laminated Timber Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Raw Material Type (Spruce, Fir, Pine, Larch, and Others) By Press Type (Hydraulic, Vacuum, Pneumatic, Nails, and Others) By Application Type (Residential, Commercial, and Industrial) By Region (North America, Europe, Asia-Pacific, and Rest of the World)
Cross Laminated Timber Market Insights
Market Trends by Press Type
The market is segmented as hydraulic, vacuum, pneumatic, nails, and others. Hydraulic presses commanded more than 60% of the market share in 2021 and are expected to maintain their incontestable leads during the forecast period as well. Hydraulic presses are most extensively used across CLT manufacturing plants. The growth of the segment can be attributed to the growing demand for CLTs from residential construction and increasing production capacity by major players operating in the business.
Market Trends by Application Type
The market is segmented as residential, non-residential, and industrial. The residential segment holds a market share of more than 44.4% in 2021 and is expected to dominate the market during the forecast period. Cross laminated wood's excellent structural strength and recyclable nature are anticipated to fuel the market expansion in the residential sector.
Rising investments by governments in various countries such as the USA, Canada, India, China, Japan, Germany, the UK, etc. for the adoption of environment-friendly activities for reducing the carbon footprint of the construction industry, is expected to further boost the market.
Market Trends by Raw Material Type
The market is segmented as spruce, fir, pine, larch, and others. The spruce segment is expected to witness major share of the market during the forecast period owing to its high usage as raw material by manufacturers. Spruce is widely available in Alpine Europe, where most of the manufacturing plants are situated.
Which region offers the best opportunity and growth?
North America is estimated to rule the market for cross laminated timber during the forecast period. The popularity of cross laminated timbers in the North American region is increasing rapidly. Besides, a growing number of tall wooden structures are being established in the region, thus propelling regional production and demand. Growing demand for mass timber in construction will boost the regional growth. Europe and Asia-Pacific are expected to offer appreciable growth opportunities during the forecast period.
COVID-19 Impact on the Cross Laminated Timber Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
Stora Enso KLH Binderholz Mayr Melnhof Hasslacher XLam Limited Sterling Lumber Shilliger Holz AG Eugen Decker Holzindustrie KG Structurlam Smartlam Meiken Lamwood Corp.
What deliverables will you get in this report?
In-depth analysis of the Cross Laminated Timber Market Detailed market segmentation. Competitive-landscape analysis. Historical, present, and future market size analysis. Industry trends, technologies, and advancements. Growth and operation strategies adopted by key players. Potential segments/regions offering promising growth. Geographical presence of the key players.
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