The global cross laminated timber market size was USD 1,024.4 million in 2023 and is projected to grow from USD 1,174.1 million in 2024 to USD 3,537.9 million in 2032 at a CAGR of 14.4% during the forecast period (2025-2032). Europe dominated the cross-laminated timber market with a market share of 57.64% in 2023. CLT's extensive adoption in building structures and constructions is likely to facilitate market growth. Fortune Business Insights™ provides this information in its report titled "Cross Laminated Timber Market, 2025-2032."
Get a Sample PDF Report: https://www.fortunebusinessinsights.com/enquiry/sample/cross-laminated-timber-clt-market-102884
List of Key Players Profiled in the Cross Laminated Timber Market Report
Segments
By bonding technology, the market is segmented into mechanically fastened and adhesive bonded. Based on application, it is categorized into non-residential buildings, residential buildings, and others. Geographically, it is clubbed into Europe, North America, Asia-Pacific, and the Rest of the World.
Cross laminated timber is engineered wood lumber composed of multiple structural composite timber and solid-sawn layers. It is used in the construction of on-site buildings and prefabricated building structures. Cross laminated timber provides excellent seismic performance, design flexibility, and thermal and acoustic insulation. Its increasing popularity enables manufacturers to incorporate soft and temperate wood to manufacture CLT. CLT was developed in Europe's Alpine region in the 1990s and became a reliable building material in Europe. It is gaining popularity in North America because of its benefits in construction applications. These factors are likely to bolster market growth in the upcoming years.
Highlights of the Report