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Cross-Laminated Timber (CLT) Market Worldwide Growth Drivers & Forecast over 2019 – 2025

Author : Rahul Varpe | Published Date : 2019-10-25 

The study on the Cross-Laminated Timber (CLT) Market by Global Market Insights introduce a systematic detail in terms of market valuation, market size, revenue estimation, and geographical spectrum of the business vertical. The study also offers a precise analysis of the key challenges and growth prospects awaiting key players of the market, including a concise summary of their corporate strategies and competitive setting.

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The growth of global construction industry can be attributed to rising population, robust urbanization, and increasing industrialization in developing countries. Global construction industry will be majorly driven by Asia Pacific region. China, the leading country in global construction industry, has witnessed significant growth in the last decade.

In 2013, construction spending by China was over 45% of the total construction spending in the Asia Pacific region. It can be attributed to trends such as escalating population growth, rapid development in industrial infrastructure in the country, etc. The country’s construction industry has witnessed an average annual growth of more than 8% between 2013 and 2016.

The Indian construction industry is also growing rapidly due to higher population growth rate, rapid industrialization & urbanization and rising disposable income. Favorable government initiatives, such as 100% foreign direct investment for construction development under automatic route which includes townships, built-up infrastructure, housing is also a chief factor driving the construction activities in the country. These trends will have positive impact on cross-laminated timber market size. On the other hand, ongoing and increasing number of upcoming construction projects across the world will also boost the global construction industry, which in turn will drive the demand for cross-laminated timber market in coming years.

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The Chinese government has planned to relax many measures that were imposed earlier for the purpose of reining in excessive debt-driven investment in the construction sector that was resulting in excess capacity and oversupply in infrastructure and real estate. This move is aimed towards reinvigoration of construction industry demand in the country. For instance, in 2018, the state council issued guidelines to attract investments in various infrastructure projects, especially for airports, roads, railways and waterways. Such developments will augment the Chinese construction market which will in turn propel the cross-laminated timber market growth.

Expansion of production capacity either through upgradation in existing production facility or through establishing a new production facility is a major trend in CLT market. For instance, Sterling Lumber declared an investment of USD 30 million to build a new cross-laminated timber (CLT) plant. Partnerships among the product manufacturers is one of the strategies incorporated by the players to enhance or maintain their position in the market.

Key players in cross-laminated timber market share include HASSLACHER Holding, BinderholzBausysteme, Stora Enso, KLH Massivholz, Eugen Decker Holzindustrie, Structurlam (Structurlam Mass Timber Corporation), Ed. Züblin AG, Nordic Structures, Sterling Lumber Company, W. u. J. Derix, etc.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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