Cross Laminated Timber Market

Cross-Laminated Timber Market Size:

The global cross-laminated timber market size reached US$ 1,586.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,715.8 Million by 2032, exhibiting a growth rate (CAGR) of 9.6% during 2024-2032. The market is experiencing steady growth driven by the escalating shift towards green building practices, supported by government regulations and eco-friendly building standards, increasing environmental awareness among consumers, and the growing demand for sustainable construction materials.

Cross-Laminated Timber Market Analysis:

• Market Growth and Size: The market has witnessed significant growth, driven by the demand for sustainable and eco-friendly construction materials. The market size is expanding, reflecting an increasing adoption rate across various sectors, further propelled by the material's environmental benefits and carbon-neutral properties.
• Technological Advancements: Technological innovations, particularly in digital fabrication and building design, are crucial to the market's expansion. The compatibility of CLT with CNC machining enhances construction efficiency and precision, while ongoing R&D is continuously improving its structural and fire-resistance properties, broadening its application scope.
• Industry Applications: CLT's diverse applications range from residential to commercial and public infrastructure. Its adoption in multi-story buildings and complex architectural designs is increasing, thanks to its strength, versatility, and sustainability. This broad spectrum of applications underlines its growing importance in the construction sector.
• Key Market Trends: A significant trend is the growing emphasis on sustainable construction practices, with CLT being a preferred material for green buildings. The integration of CLT in modern construction aligns with global sustainability goals, influencing market dynamics significantly.
• Geographical Trends: Europe and North America are leading in CLT adoption, influenced by supportive regulatory frameworks and an emphasis on sustainable building practices. However, Asia-Pacific is emerging as a fast-growing market due to increasing construction activities and environmental awareness.
• Competitive Landscape: The market features a mix of established players and emerging companies. Competition is based on quality, innovation, and sustainability credentials. Strategic partnerships and expansion into new markets are common among key players, seeking to leverage the growing product demand.
• Challenges and Opportunities: While the market faces challenges such as high initial costs and a lack of widespread awareness, these are countered by substantial opportunities. Increasing regulatory support, advancements in CLT technology, and a growing global focus on sustainable construction present significant growth potential for the market.
   

Cross-Laminated Timber Market Trends:

Environmental benefits and sustainability

CLT is gaining traction primarily due to its environmental benefits. As a sustainable material, it significantly reduces the carbon footprint of construction projects. Unlike conventional building materials such as concrete and steel, CLT is produced from timber, a renewable resource. This aspect contributes to lower carbon emissions during the manufacturing process and enables the material to act as a carbon sink, effectively storing carbon dioxide absorbed by trees. Additionally, the increasing emphasis on green building practices and eco-friendly materials in global construction standards, including LEED and BREEAM certifications, is propelling the demand for CLT. This environmentally conscious shift is a critical factor propelling the market forward, as it aligns with global efforts to combat climate change and promote sustainability in construction.

Advancements in building technology

The growth of the market is significantly influenced by advancements in building technology. CLT's compatibility with digital fabrication techniques, including CNC (Computer Numerical Control) machining, allows for high precision and customization in building components. This technological synergy enhances the efficiency of construction processes, enabling faster project completion times compared to traditional construction methods. Furthermore, CLT's structural properties, offering strength and durability comparable to steel and concrete, have expanded its applications in multi-story buildings. The integration of CLT in modern construction is being driven by innovations in engineering and design, fostering a new wave of architectural possibilities. These technological advancements improve the material's performance and broaden its appeal in diverse construction projects, from residential to commercial and public buildings.

Regulatory support and standardization

The expansion of the market is further bolstered by increasing regulatory support and standardization. Governments and international building codes are progressively recognizing and incorporating CLT due to its sustainability and safety profile. Amendments in building codes, particularly in North America and Europe, to accommodate and encourage the use of CLT in construction projects, have played a pivotal role in market growth. This regulatory change is accompanied by the development of standards for CLT production and usage, ensuring quality and safety in its application. As these standards become more prevalent, they instill confidence in architects, engineers, and builders to adopt CLT in a wider range of projects. This regulatory landscape legitimizes the use of CLT and propels its growth by facilitating wider adoption and integration into mainstream construction practices.

Cross-Laminated Timber Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on application, product type, element type, raw material type, bonding method, panel layers, adhesive type, press type, storey class, and application type.

Breakup by Application:

• Residential
• Educational Institutes
• Government/Public Buildings
• Commercial Spaces
   

Residential accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes residential, educational institutes, government/public buildings, and commercial spaces. According to the report, residential represented the largest segment.

The residential sector represents the largest segment of the market. This dominance is primarily due to the increasing demand for eco-friendly and sustainable living spaces. Homeowners and residential developers are progressively adopting CLT for its aesthetic appeal, structural integrity, and environmental benefits. The material's versatility in design and superior insulation properties also make it a preferred choice in residential construction. As awareness of sustainable living grows and more people seek energy-efficient homes, the demand for CLT in the residential sector is escalating, further bolstered by supportive housing policies and green building incentives.

On the contrary, the use of CLT in educational institutes is gaining momentum, driven by the sector's growing focus on creating sustainable and healthy learning environments. CLT's natural aesthetic, coupled with its acoustic and thermal performance, makes it an ideal material for educational buildings. These institutions often aim to reflect environmental stewardship in their infrastructure, aligning with CLT's sustainable profile. The material's prefabrication capabilities allow for quicker construction times, minimizing disruptions to academic schedules.

Additionally, in government and public buildings, CLT is emerging as a material of choice due to its eco-friendly credentials and public sector investment in sustainable infrastructure. Governments are leading by example in adopting green building practices, with CLT being used in various public projects like community centers, libraries, and municipal offices. The material's carbon sequestering ability aligns with governmental goals for reducing environmental impact.

Along with this , the commercial space segment is incorporating CLT for reasons ranging from corporate sustainability goals to the practical benefits of CLT. Businesses are increasingly aware of the importance of green building certifications and the role of sustainable materials in achieving these standards. As businesses continue to seek innovative ways to demonstrate environmental responsibility and enhance their physical spaces, the use of CLT in commercial construction is growing.

Breakup by Product Type:

• Custom CLT
• Blank CLT
   

Custom CLT holds the largest share in the industry

A detailed breakup and analysis of the cross-laminated timber market based on the product type has also been provided in the report. This includes custom CLT and blank CLT. According to the report, custom CLT accounted for the largest market share.

The custom segment holds the largest share of the market, primarily due to its tailored solutions catering to specific project requirements. This segment offers CLT panels that are pre-cut and fabricated to fit precise design specifications, significantly reducing on-site labor and waste. The customization enables architects and builders to explore innovative and complex architectural designs, making it highly suitable for projects with unique structural or aesthetic needs. Along with this, the precision and efficiency offered by custom CLT are particularly valuable in intricate construction projects, such as uniquely designed residential buildings, commercial spaces with specific branding requirements, or public buildings with distinct architectural features.

On the contrary, the blank segment, though smaller compared to custom CLT, caters to a significant market that requires versatility and flexibility in construction. Blank CLT panels are standard, undecorated panels that offer builders and designers the opportunity to cut and shape the material on-site according to their specific project needs. This segment appeals to projects where design flexibility and on-site customization are prioritized. It is particularly popular in smaller construction projects or in cases where final design decisions are made during the construction phase. While blank CLT requires more on-site labor compared to custom CLT, it offers the advantage of adaptability, making it a suitable choice for a range of construction applications where immediate custom solutions are not necessary or cost-effective.

Breakup by Element Type:

• Wall Panels
• Flooring Panels
• Roofing Slabs
• Others
   

Wall Panels represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the element type. This includes wall panels, flooring panels, roofing slabs, and others. According to the report, wall panels accounted for the largest market share.

The wall panels segment dominates the market, primarily due to their extensive use in both load-bearing and non-load-bearing applications. Wall panels manufactured from CLT offer exceptional strength and stability, making them ideal for constructing the exterior and interior walls of buildings. Their high degree of thermal insulation and soundproofing qualities add to their appeal in residential and commercial construction. Additionally, the popularity of CLT wall panels is also attributed to their aesthetic versatility, allowing for a range of finishes and designs.

On the other hand, flooring panels manufactured by CLT represent a significant segment of the market. These panels are prized for their strength and rigidity, making them suitable for high-load bearing applications in both residential and commercial buildings. The uniformity and dimensional stability of CLT flooring panels offers an advantageous alternative to traditional flooring materials, providing ease of installation and long-term durability. In addition, the aesthetic appeal of wood and its natural warmth make CLT flooring panels a popular choice, especially in designs that emphasize eco-friendly and natural interiors.

Moreover, roofing slabs manufactured by CLT are gaining popularity in the market, though they represent a smaller segment compared to wall and flooring panels. CLT roofing slabs offer excellent load-bearing capacity, which is essential for roofing applications, and they are particularly suitable for large-span structures. Their lightweight nature, combined with structural strength, makes them ideal for both new constructions and renovations, especially where weight minimization on existing structures is crucial. The aesthetic appeal of timber, along with its insulation properties, makes CLT roofing slabs a compelling choice for projects aiming for both functionality and design elegance.

Breakup by Raw Material Type:

• Spruce
• Pine
• Fir
• Others
   

Spruce exhibits a clear dominance in the market 

A detailed breakup and analysis of the cross-laminated timber market based on the raw material type has also been provided in the report. This includes spruce, pine, fir, and others. According to the report, spruce accounted for the largest market share.

Spruce is the predominant raw material in the market, chiefly due to its favorable characteristics for CLT production. Spruce wood offers an optimal balance of strength, weight, and workability, making it highly suitable for a wide range of CLT applications. Its relatively straight grain and uniform texture contribute to the structural integrity and aesthetic appeal of CLT panels. Additionally, the preference for spruce in CLT production is also influenced by its good performance in terms of insulation properties and resistance to shrinkage and swelling. As a result, the spruce segment continues to dominate the CLT market, aligning with the demand for high-quality and versatile building materials.

On the contrary, pine is another significant raw material used in the production of CLT, valued for its availability and mechanical properties. While slightly less prevalent than spruce in the CLT market, pine offers a robust and cost-effective alternative for CLT manufacturing. It is characterized by its strong, resilient nature and relatively uniform grain, which is beneficial for structural applications. Pine's widespread growth and cultivation, especially in North America and parts of Europe, ensure its accessibility for CLT production.

Along with this, fir, particularly species such as Douglas fir, constitutes a notable segment in the market. Fir is recognized for its superior strength-to-weight ratio, making it an excellent choice for high-load-bearing applications in CLT construction. Its wood grain and texture provide aesthetic qualities desirable in architectural designs. The choice of fir in CLT manufacturing is often driven by specific structural requirements and regional preferences, contributing to the diversification of the CLT raw material market.

Breakup by Bonding Method:

• Adhesively Bonded
• Mechanically Fastened
   

Adhesively bonded dominates the market

A detailed breakup and analysis of the cross-laminated timber market based on the bonding method has also been provided in the report. This includes adhesively bonded and mechanically fastened. According to the report, adhesively bonded accounted for the largest market share.

The adhesively bonded method dominates the market, primarily due to its superior structural integrity and aesthetic quality. In this method, layers of lumber are bonded together using adhesives, resulting in a composite material that exhibits enhanced strength and stability. This bonding technique allows for larger and more diverse panel sizes, catering to a wide range of architectural designs. Adhesively bonded CLT is preferred for its seamless finish, which is aesthetically pleasing and does not require additional covering or finishing in many applications. The method also ensures airtight and watertight panels, crucial for energy-efficient construction. The dominance of this segment is attributed to its widespread acceptance in the construction industry, driven by the demand for high-quality, durable, and visually appealing building materials.

On the other hand, the mechanically fastened method in CLT manufacturing, though smaller in market share compared to adhesively bonded CLT, serves specific construction needs where this technique is advantageous. In this method, layers of lumber are fastened together using mechanical fixings like screws, dowels, or nails, rather than adhesives. This method is sometimes preferred in situations where the use of adhesives might be problematic due to environmental concerns or where the end-users require ease of disassembly and reusability. Mechanically fastened CLT panels are also considered in projects where reduced chemical usage is a priority.

Breakup by Panel Layers:

• 3-Ply
• 5-Ply
• 7-Ply
• Others
   

3-Ply is the predominant market segment

A detailed breakup and analysis of the cross-laminated timber market based on the panel layers has also been provided in the report. This includes 3-ply, 5-ply, 7-ply, and others. According to the report, 3-ply accounted for the largest market share.

The 3-ply panel is the most popular segment in the market, largely due to its versatility and cost-effectiveness. These panels consist of three layers of lumber, each oriented perpendicular to the adjacent layer, providing a balance of strength and stability suitable for a wide range of applications, especially in residential and light commercial construction. The 3-ply structure is typically sufficient for many load-bearing walls and floors, offering a lighter and more economical option compared to thicker panels. Its relative ease of production and installation, combined with adequate structural performance, makes it a preferred choice for builders and architects, particularly in projects where complex structural demands are not a primary concern.

on the contrary, the 5-ply CLT panel represents a key segment in the market, offering enhanced strength and stiffness compared to 3-ply panels. These panels are composed of five layers of lumber, making them more suitable for applications requiring greater load-bearing capacity, such as in commercial buildings or more demanding residential structures. The additional layers provide better acoustic and thermal insulation properties, which is particularly beneficial in multi-story and larger-scale projects.

In addition, the 7-ply CLT panel segment caters to specialized construction requirements where maximum strength and rigidity are necessary. These panels, comprising seven layers of lumber, are typically used in large-scale and high-load bearing applications, including commercial, industrial, and large residential projects. The 7-ply panels are especially advantageous for floors and roofs in multi-story buildings, where they provide excellent load distribution and stability.

Breakup by Adhesive Type:

• PUR (Polyurethane)
• PRF (Phenol Resorcinol Formaldehyde)
• MUF (Melamine-Urea-Formaldehyde)
• Others
   

PUR (Polyurethane) accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the adhesive type. This includes PUR (polyurethane), PRF (phenol resorcinol formaldehyde), MUF (melamine-urea-formaldehyde), and others. According to the report, PUR accounted for the largest market share.

The Polyurethane (PUR) adhesive segment holds the largest share in the (CLT) market, primarily due to its superior bonding strength and durability. PUR adhesives offer excellent moisture resistance, making them ideal for use in CLT panels that may be exposed to varying environmental conditions. This type of adhesive is also favored for its flexibility and ability to accommodate the natural movement of wood, reducing the risk of delamination. Additionally, PUR adhesives cure faster and emit lower levels of volatile organic compounds (VOCs) compared to other types, making them more environmentally friendly and safer for indoor air quality.

On the other hand, phenol resorcinol formaldehyde (PRF) adhesives constitute a significant segment of the CLT market, known for their robustness and long-term stability. PRF adhesives provide excellent water and heat resistance, which is crucial in harsh environmental conditions or in applications where the panels are subject to significant thermal stress. These adhesives are particularly suitable for structural applications due to their high strength and ability to form strong bonds with wood.

Along with this, melamine-urea-formaldehyde (MUF) adhesives are widely used in the CLT market, particularly in applications where cost-effectiveness is a significant consideration. MUF adhesives offer good moisture resistance and bond strength, making them suitable for various construction applications. They are often used in interior applications where the exposure to extreme conditions is limited.

Breakup by Press Type:

• Hydraulic Press
• Vacuum Press
• Pneumatic Press
• Others
   

Hydraulic Press holds the largest share in the industry

A detailed breakup and analysis of the cross-laminated timber market based on the press type has also been provided in the report. This includes hydraulic press, vacuum press, pneumatic press, and others. According to the report, hydraulic press accounted for the largest market share.

The hydraulic press segment leads the market due to its efficiency and versatility in producing CLT panels. Hydraulic presses apply uniform pressure across the panel, ensuring consistent bonding and structural integrity. This type of press is capable of handling large and thick panels, making it ideal for a wide range of CLT applications. The precision control of pressure and temperature during the pressing process offered by hydraulic systems results in high-quality products. Furthermore, hydraulic presses are valued for their reliability and durability, which are essential in high-volume manufacturing settings. Their widespread use in the CLT industry is a testament to their effectiveness in meeting the diverse needs of CLT production.

On the contrary, the vacuum press segment, while smaller compared to hydraulic presses, plays a significant role in the CLT market, especially for specialized applications. Vacuum presses use a vacuum to create pressure, ensuring a uniform bond across the CLT panel with minimal risk of warping or unevenness. This method is particularly effective for thinner panels and is valued for its ability to produce CLT with a high-quality finish. Vacuum presses are also appreciated for their energy efficiency and lower operating costs.

Apart from this, pneumatic presses are used in the CLT market for their simplicity and cost-effectiveness. These presses utilize compressed air to apply pressure, making them a suitable option for smaller-scale operations or where hydraulic or vacuum presses are not feasible. Pneumatic presses are relatively easy to operate and maintain, although they might not provide the same level of uniform pressure and precision as hydraulic or vacuum presses. This segment caters to a niche market within the CLT industry, particularly for producers focusing on smaller, custom, or less demanding panel production.

Breakup by Storey Class:

• Low-Rise Buildings (1-4 Storeys)
• Mid-Rise Buildings (5-10 Storeys)
• High-Rise Buildings (More than 10 Storeys)
   

Low-rise buildings (1-4 storeys) represent the leading market segment 

A detailed breakup and analysis of the cross-laminated timber market based on the storey class has also been provided in the report. This includes low-rise buildings (1-4 Storeys), mid-rise buildings (5-10 Storeys), and high-rise buildings (more than 10 Storeys). According to the report, low-rise buildings accounted for the largest market share.

The low-rise buildings segment, encompassing structures ranging from 1 to 4 storeys, is the largest in the market. This dominance is attributed to the widespread use of CLT in residential and small commercial projects, where its benefits in terms of speed of construction, environmental sustainability, and aesthetic qualities are highly valued. Low-rise buildings typically do not require the same level of structural complexity as taller structures, making CLT an ideal material due to its ease of use, versatility, and cost-effectiveness. This segment's growth is further supported by the increasing interest in sustainable and energy-efficient housing, where CLT's excellent insulation properties and carbon-neutral characteristics are particularly appealing.

On the other hand, the mid-rise buildings segment, consisting of structures between 5 and 10 storeys, represents a significant and growing portion of the CLT market. This segment benefits from the increasing acceptance of CLT in larger-scale projects due to its structural strength, fire resistance, and seismic performance. Mid-rise buildings often serve as residential, educational, or mixed-use developments, where CLT can be utilized not only for its structural capabilities but also for its aesthetic appeal. The adoption of CLT in mid-rise construction is driven by advancements in building technology and engineering that allow for taller wood-based structures, along with a growing emphasis on sustainable urban development.

Along with this, the high-rise buildings segment, which includes structures exceeding 10 storeys, is a relatively smaller and rapidly improving part of the CLT market. This segment showcases the potential of CLT in large-scale, urban construction, challenging traditional building materials such as steel and concrete. High-rise CLT projects are often emblematic of innovative architectural design and sustainability, aligning with the global push towards greener skyscrapers.

Breakup by Application Type:

• Structural Applications
• Non-Structural Applications
   

Structural Applications exhibits a clear dominance in the market 

A detailed breakup and analysis of the cross-laminated timber market based on the application type has also been provided in the report. This includes structural applications and non-structural applications. According to the report, structural accounted for the largest market share.

The structural applications segment holds the largest share of the market. This segment encompasses the use of CLT in load-bearing elements such as walls, floors, roofs, and beams, where the material's inherent strength and stability are critical. CLT's popularity in structural applications is due to its excellent mechanical properties, including high strength-to-weight ratio and resistance to seismic and fire hazards, making it a viable alternative to traditional materials such as concrete and steel. Additionally, the adaptability of CLT to various architectural styles and its ability to meet diverse structural requirements are leading to its increased adoption in a range of building types, from residential to commercial and institutional. The growth of this segment is further bolstered by the rising demand for sustainable construction practices and the ongoing development of building codes and standards that recognize and support the use of CLT in structural applications.

On the contrary, the non-structural applications segment, while smaller than the structural segment, represents a growing market. In this segment, CLT is primarily used for aesthetic and architectural purposes, such as interior paneling, decorative facades, and acoustic walls. This application leverages the natural beauty and warmth of wood, contributing to the creation of visually appealing and comfortable interior environments. Non-structural CLT applications are gaining popularity in both residential and commercial spaces, where the emphasis on sustainable and biophilic design is on the rise. As awareness of the environmental and health benefits of using natural materials such as wood in interiors increases, the non-structural applications of CLT are expanding, particularly in sectors focused on creating green and healthy living and working spaces.

Breakup by Region:

• Europe
  • Austria
  • Germany
  • Italy
  • Switzerland
  • Czech Republic
  • Spain
  • Norway
  • Sweden
  • United Kingdom
• North America
  • United States
  • Canada
• Asia-Pacific
  • Australia
  • New Zealand
  • Japan
  • China
  • Taiwanz
     

Europe leads the market, accounting for the largest cross-laminated timber market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include Europe (Austria, Germany, Italy, Switzerland, Czech Republic, Spain, Norway); North America (the United States, Canada); Asia Pacific (Australia, New Zealand, Japan, China, Taiwan). According to the report, Europe accounted for the largest market share.

Europe is the largest and most developed market driven by a strong tradition of wood construction and progressive environmental policies. Countries such as Austria, Germany, and Switzerland have been pioneers in CLT production and usage, supported by favorable government policies and a high degree of awareness about sustainable construction practices. The European market is characterized by a wide range of applications in both residential and commercial construction, and the region's stringent building regulations have further encouraged the use of eco-friendly materials. The presence of numerous leading CLT manufacturers in Europe also contributes to its dominant market position, making it a hub for innovation and development in the field of timber construction.

On the other hand, the North American CLT market is experiencing rapid growth, fueled by increasing adoption in the United States and Canada. The region's vast forest resources and a growing shift towards sustainable building practices have played a significant role in this expansion. The market is also benefiting from growing environmental consciousness among consumers and a strong push for green building certifications. North America's CLT market is driven by advancements in manufacturing technologies and an expanding base of architects and builders experienced in CLT construction.

Moreover, the Asia Pacific region presents a rapidly emerging market for CLT, with countries such as Japan, China, and Australia showing increasing interest. This region's market growth is propelled by urbanization, rising environmental awareness, and the need for sustainable building solutions. In addition, the adoption of CLT in Australia is also on the rise, driven by the material's sustainability credentials and design flexibility.

Leading Key Players in the Cross-Laminated Timber Industry:

Key players in the market are actively engaged in various strategies to strengthen their market position and cater to the growing demand for sustainable construction materials. These companies are focusing on expanding their production capacities and investing in advanced manufacturing technologies to enhance the quality and efficiency of their CLT products. Along with this, various players are also forming strategic partnerships and collaborations with construction firms, architects, and governments to promote the use of CLT in various building projects. Additionally, a significant emphasis is placed on research and development to improve the performance characteristics of CLT, such as fire resistance, structural integrity, and environmental sustainability. Efforts are also being made to navigate and influence regulatory environments, advocating for more CLT-friendly building codes and standards. Through these initiatives, key market players are driving innovation within the industry and fostering wider adoption of CLT in global construction markets.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Stora Enso
• KLH
• Binderholz
• Mayr Melnhof
• Hasslacher
• XLam Limited
• Sterling Lumber
• Shilliger Holz AG
• Eugen Decker Holzindustrie KG
• Structurlam
• SmartLam
• Meiken Lamwood Corp.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News: 

• November 16, 2023: Mayr Melnhof completed the repair of the KM 3 cartonboard machine at MM Kolicevo, the company's mill in Slovenia.
• April 12, 2023: Binderholz commemorated the formal launch of its timber manufacturing plant in Halifax County, North Carolina, close to Enfield, with a spectacular opening ceremony.
• June 22, 2022: Stora Enso developed a superior white top kraftliner designed for rigorous packing applications.

Cross-Laminated Timber Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cross-laminated timber market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global cross-laminated timber market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cross-laminated timber industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.