The Global Cross Laminated Timber Market Size was USD 1,037 Million in 2021 and is expected to reach USD 3,202 Million by 2030, with a significant CAGR of 13.8% from 2022 to 2030.
Due to growing concerns about greenhouse gas (GHG) emissions, the cross laminated timber market is expected to reach USD 3,202 million by 2030, according to an exclusive report by Acumen Research and Consulting.
Cross-laminated timber (CLT) is an engineered material that is quickly gaining traction in the construction industry as a sustainable alternative to steel and concrete construction in institutional and multi-family applications. The system is made up of multilayered panels made of solid wood planks that have been stacked and bonded together crosswise.
Cross-lamination increases stiffness, specific strength, and mechanical performance. CLT structurally outperforms concrete and steel, with panels suitable for use as floors, ceilings, walls, and other applications. Many buildings have been constructed around the world using such timbers. Evaluating CLT’s strength, structural characteristics, and cost-competitiveness, for example, would reveal whether the material has the potential to be used in a wider range of structures.
Consumer awareness of the environmental damage caused by concrete and brick manufacturing methods is growing significantly, which is driving demand for cross-laminated timber and environmentally friendly building materials. As a result, consumers and experts are shifting their focus to the use of sustainable materials, such as timber, in the construction of homes and other infrastructure.
Because CLT is made of wood, many governments favour its use in construction and provide consumers with economic and space-liberty benefits. Furthermore, when compared to traditional building materials, lumber provides superior acoustic and thermal insulation, avoiding the use of toxic elements in insulation materials such as glass fibre and foamed polymers. As a result, the material’s environmental benefits have been critical in its acceptance in the sustainable construction industry.