According to a new research report by IMARC Group, titled “North America Cross-Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the North America cross-laminated timber market was worth US$ 129.3 Million in 2021. The report further anticipates the market to reach a value of US$ 360.2 Million by 2027.
Cross-Laminated Timber (CLT) is an engineered wood-based system made from dimensional lumber stacked crosswise at right angles. These planks are then bonded together in a hydraulic or vacuum press over the entire surface area. This configuration provides strength, rigidity and dimensional stability to CLT which makes it a viable alternative to concrete, masonry and steel. In North America, cross-laminated timber is gradually gaining prominence in the construction industry, particularly for multi-storey structures.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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North America Cross-Laminated Timber Market Trends and Drivers:
As CLT is largely prefabricated at the manufacturing site, it requires less construction time as compared to traditional construction materials. This, in turn, helps in reducing the overall cost of construction. CLT offers design flexibility, large floor space and strong seismic performance owing to which it has become a preferred construction material amongst the consumers and architects. As a result, the demand for CLT has witnessed an upsurge in the region. The growth of the CLT market in North America has further been stimulated by favourable government policies and development of a standard product code which facilitate its usage in the construction of multi-storey buildings. Some of the factors that restrain the growth of the CLT market include its poor acoustic performance and high maintenance costs.
North America Cross-Laminated Timber Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
- Nordic Structures
- StructureCraft
- Structurlam Mass Timber Corporation
- D.R. Johnson Lumber Co.
- SmartLam NA
- Sterling Lumber
Key Market Segmentation:
The report has segmented the North America cross-laminated timber market on the basis of application and region.
Breakup by Application:
- Residential
- Educational Institutes
- Government/Public Buildings
- Commercial Space
Breakup by Region:
- United States
- Canada
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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