Cross Laminated Timber Market 2030 Share, Revenue, Drivers, Trends and Influence Factors
The global cross laminated timber (CLT) market size was estimated at USD 1.17 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 14.9% from 2023 to 2030. Superior design flexibility and faster installation processes in comparison to other building materials are likely to benefit the industry over the forecast period. Cross laminated timber is increasingly used in construction applications owing to the rising awareness about the product benefits including design flexibility, fire resistance, superior thermal performance, cost-effectiveness, and others. In addition, a clean & noiseless construction process, reduced construction time, and low cost have increased the demand for the same. The market in the U.S. is expected to exhibit growth owing to the high demand from the end-user segment. Factors such as high disposable income, large market size, the ability of established players to mass-produce, and an extensive range of product...