The cross laminated timber market is set to witness immense growth by 2027 owing to the growing popularity of CLT across industrial, commercial and residential application areas and high thermal performance of the product. CLT or cross laminated timber is a prefabricated, large-scale, engineered wood product. It is lightweight, highly strong product that boasts of superior seismic, fire, acoustic as well as thermal performance.

CLT is can be installed easily and rapidly, which is also known to generate no waste onsite. Cross laminated timber has also been known to have low environmental impacts, offering design flexibility.

The most commonly known uses of cross laminated timber are as load-bearing parts for building frames like roofs, floors, and walls. These boards are also utilized in interior lining and facade cladding. One of the major advantages of cross laminated timber is reduced foundation design as compared to other building methods, thus saving in time as well as money.

Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/4096

The CLT market is bifurcated in terms of raw material, press type, application, and regional landscape.

Based on raw material, the market for cross laminated timber is classified into larch, pine, fir, spruce, and others. Among these, the larch segment is likely to witness a decent CAGR of over 13.5% through the forecast time. The other wood types segment garnered a revenue share of around 1% in 2020 and will exhibit robust growth over the coming time period.

With respect to press type, the cross laminated timber market is categorized into nails, pneumatic, vacuum, hydraulic, and others. In 2020, the nails segment held more than 5% demand share and is anticipated to register similar growth in the years to come.

Request for customization @ https://www.gminsights.com/roc/4096

In terms of application, the overall market is segmented into industrial, commercial, and residential. Residential segment will reach over $1,350 million by the end of the analysis timeframe. Rising adoption of CLT in high rise residential buildings will drive product demand.

In comparison to other traditional concrete or steel, the cost of cross laminated timber for materials as well as labor is very much low. In fact, timber could become a great alternative in cities that are expanding at a rapid pace, where there is a requirement for high apartment buildings.

From a regional frame of reference, LATAM cross laminated timber is poised to grow at a CAGR of 12.9% over the assessment time period.

Meanwhile, in 2020, the cross laminated timber market in Middle East & Africa gathered a volume share of around 12.1% and expected to showcase a healthy growth rate during the study time period.