The Infrastructure is a very important aspect for any country and the people living in it. Moreover, building whether it may be residential, commercial, public or institutional plays a very pivotal role in the life of the people. Concrete is the single most widely used construction material used in the world. 5% of the global annual CO2 production is from production of concrete. Cross Laminated Timber also known as CLT, KLH, X-Lam, Cross-Lam is emerging as a promising building alternative to concrete that offers benefits such as reducing carbon emission, restoration of forest. In addition to the environmental benefits CLT buildings have cheaper construction cost due less time for construction and less labour hours, as the prefinished panels are transported to the construction site.
CLT is relatively new construction material developed in early 1990s in Central Europe, where it became a major building material. Hundreds of buildings and other kinds of structures built all over the world using CLT shows the advancement of CLT technology. While the CLT technology is well established in Europe, the implementation of CLT in North America and Asia-Pacific region is also gaining momentum.
Construction done by using prefabricated CLT floors and walls offers many advantages. CLT provides improved dimensional stability, Fire, Acoustic and Seismic performance. The above advantage makes CLT an attractive option for end users.
The rise in disposable income of population coupled with increasing awareness about the benefits of green building is anticipated to boost the cross laminated timber market. The consumers are shifting from traditional building materials such as cement, concrete and brick to sustainable wooden materials such as CLT, which offers enormous health benefits. Europe is the leading cross laminated timber market as they were the pioneer in this CLT technology and there is conscious among population about the environmental benefits offered by the cross laminated timber.
Suring demand for cross laminated timber in residential sector owing to it aesthetic value of the wood and feel good factor by green homes is expected to push the industry over the forecast period. The demand for cross laminated timber for commercial building and institutional building is increasing due to its improved strength and comparatively cheap price. The residential segment held the market share of 44.1% in 2016.
Increased marketing activities along with wide distribution network has led to increase in sales of cross laminated timber product. Investment in R&D from major players to increase the strength which includes improved fire resistance and seismic performance will help to attract more customers, which is anticipated to boost the market over the forecast period. Positive outlook and acceptance for cross laminated timber among US, Canada, New Zealand, China, Japan and Australia will subsequently projected to drive the market.
Stora Enso, SmartLam, KLH Massivholz, Structurlam, Binderholz GmbH, XLam Ltd., Meiken Lamwood Corp are some the companies with significant presence in the cross laminated timber market.
In-depth report on global cross laminated timber market by Grand View Research:
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