As per IMARC Group’s latest report, titled, “North America Cross-Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the North America Cross-Laminated Timber (CLT) market has witnessed a strong growth over the past few years. CLT is a versatile wood-based system, consisting of several layers of lumber boards that are stacked crosswise and glued together. This enhances its strength, dimensional stability, rigidity and mechanical properties, thereby, creating an effective load-bearing system. It is mostly used either as a standalone system or in combination with other building materials in the construction of mid-rise and high-rise buildings. Developed in Europe during the early 1990s, CLT has gained prominence in North America over the past several years. This can be attributed to increasing awareness about its advantages over other traditional construction materials.
Highlights of the North America cross-laminated timber market:
- Diverse environmental benefits of CLT remain the major growth driving factor.
- Minimised cost and waste production is also creating a demand for CLT in the construction industry.
- Within the region, Canada represents the larger market.
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The renewable and sustainable nature of CLT has made it extremely popular in North America since the government is focussing on green building solutions. The manufacturing, transportation and assembling of CLT requires lesser energy as compared to structural concrete, masonry or steel. Additionally, it is easier to install and requires minimal installation time. Since, CLT is prefabricated, no waste is produced onsite and the cost of erection is reduced. These factors accelerate the construction process and also save cost, thereby, facilitating the applications of CLT in the construction industry. Nowadays, interior designers and architects are also preferring CLT over traditional timber since it offers flexible design and an aesthetic appeal. Moreover, existing timber producers in North America are now adding CLT manufacturing capacity to their product lines. Owing to these factors, the North America CLT market is expected to grow at a rapid pace for the next few years.
On the basis of application, the market has been segmented into residential, educational institutes, government and public buildings, and commercial spaces. Region-wise, the market has been segmented into the United States and Canada. Amongst these, Canada represents the larger market since the manufacturing of CLT started earlier as compared to the United States. On the other hand, as the housing sector in the US is already well-developed, CLT is expected to find more applications in the commercial and industrial sector in the country. On analysing the competitive landscape, it is found that Structurlam, Nordic Engineered Wood, SmartLam and Sterling Lumber are the key players operative in the market.
To view the report summary and Table of Contents, click on: http://www.imarcgroup.com/north-america-cross-laminated-timber-market
The report by IMARC Group has examined the North America cross-laminated timber market on the basis of:
- Educational institutes
- Government and public buildings
- Commercial spaces
- Nordic Engineered Wood
- Sterling Lumber
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