Cross Laminated Timber Market Size, Share, Growth Analysis, By Type, By End Use, By Industry, By Region - Industry Forecast 2024-2031

Global Cross Laminated Timber Market size was valued at USD 1.12 billion in 2022 and is poised to grow from USD 1.27 billion in 2023 to USD 3.59 billion by 2031, growing at a CAGR of 13.80% during the forecast period (2024-2031).

The cross laminated timber is also called the CLT or XLam. It Is a manufactured engineered wood lumber product that is currently gaining popularity due to its properties. It consists of more than two layers of solid-sawn and structural composite timber. The layers are arranged so that adjacent layers are crossed and fixed together with adhesive for mechanical fixation to form a solid wood element. In the early 1990s, it was developed in Europe's alpine countries and is now a well settled building material in Europe. It is high in demand due to its solid wood element.

It is extensively used as it is a sustainable alternative to steel and concrete construction in multi-residential and commercial applications. In the Asia Pacific and North America countries, it is gaining popularity as it is majorly used in the construction of readymade building structures on site for small duration. The structuralism estimates that a building installation of up to 14,000 square feet per day can be completed with a team of six technicians.
Its configuration provides mechanical properties, dimensional stability, and rigidity. therefore, it is employed for walls, roofs, floors, and other applications.

Construction activities of same scale using conventional products may take several weeks with a significantly higher amount of labor. It gives advantages like design flexibility and good seismic performance.
The material has good acoustic and thermal insulation performance. This has led to its global adoption in the construction of buildings in Europe and North America.

US Cross Laminated Timber Market  is poised to grow at a sustainable CAGR for the next forecast year.