The Australia and New Zealand cross laminated timber (CLT) market size reached USD 125.7 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 563.6 Million by 2033, exhibiting a growth rate (CAGR) of 18.14% during 2025-2033.
Report Attribute
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Key Statistics
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---|---|
Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 125.7 Million |
Market Forecast in 2033
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USD 563.6 Million |
Market Growth Rate 2025-2033 | 18.14% |
Cross-laminated timber (CLT) is a prefabricated and solid engineered wood panel comprising several layers of kiln-dried lumber boards, which are stacked in alternating directions, pressed to form solid, straight, rectangular panels, and bonded with structural adhesives. It is lightweight and strong with superior acoustic, fire, seismic, and thermal performance. Apart from this, it offers several advantages, such as aesthetic appeal, easy installation, and low greenhouse gas emissions. As a result, CLT is replacing traditional construction materials, such as steel, concrete, and cement. At present, there is a rise in the demand for CLT in both the residential and commercial sectors across Australia and New Zealand as it provides dry and fast onsite construction and the potential for airtightness with robust wall and floor structures.
The growing environmental concerns among the masses about rising greenhouse gas emissions represent one of the key factors driving the market in Australia and New Zealand. Moreover, there is an increase in the number of green building projects to enhance the efficiency of buildings while reducing their impact on the health of individuals and the environment through better design, construction, operation, and maintenance. This, along with the increasing initiatives by the central and state governments of Australia and New Zealand to promote the utilization of wood-based construction materials, is propelling the growth of the market. In addition, builders in the region are focusing on improving construction practices by relying on innovative construction materials and techniques, which is positively influencing the market. Besides this, the escalating demand for CLT in enhancing indoor environment quality and keeping the surroundings clean by generating zero waste during production is offering lucrative growth opportunities to industry investors. Apart from this, CLT is affordable and requires considerably less time in the construction of different structures compared to conventional construction materials. These product advantages are bolstering the growth of the market in the region.
IMARC Group provides an analysis of the key trends in each sub-segment of the Australia and New Zealand cross laminated timber (CLT) market report, along with forecasts for the period 2025-2033. Our report has categorized the market based on application.
Australia Cross Laminated Timber Industry
Breakup by Application:
Non-residential units dominate the market due to the rising preference for sustainable building materials in the country.
New Zealand Cross Laminated Timber Industry
Breakup by Application:
Residential units exhibit a clear dominance in the New Zealand market as CLT provides efficient seismic performance in the multi-storey timber buildings.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Stora Enso Oyj, KLH Massivholz GmbH, Binderholz GmbH, and XLam Australia Pty Ltd.
The Australia and New Zealand Cross Laminated Timber (CLT) market was valued at USD 125.7 Million in 2024.
We expect the Australia and New Zealand Cross Laminated Timber (CLT) market to exhibit a CAGR of 18.14% during 2025-2033.
The rising consumer preference towards CLT, as it offers aesthetic appeal, easy installation, and low greenhouse gas emissions over traditional construction materials, such as steel, concrete, and cement, is primarily driving the Australia and New Zealand Cross Laminated Timber (CLT) market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nations, resulting in the temporary halt in numerous construction activities, thereby negatively impacting the Australia and New Zealand market for Cross Laminated Timber (CLT).
Based on the application, the Australia Cross Laminated Timber (CLT) market can be segmented into detached houses, residential, and non-residential units. Among these, non-residential units currently hold the majority of the total market share.
Based on the application, the New Zealand Cross Laminated Timber (CLT) market has been divided into residential and commercial. Currently, residential exhibits a clear dominance in the market.
Some of the major players in the Australia and New Zealand Cross Laminated Timber (CLT) market include Stora Enso Oyj, KLH Massivholz GmbH, Binderholz GmbH, and XLam Australia Pty Ltd.