CLT market projected to top $2 billion by 2027 – According to the current analysis from Reports and Data, the global cross laminated timber market was valued at $786.71 Million in 2019 and is expected to reach $2.3 billion by the year 2027, at a CAGR of 12.51 percent. By volume, the market is expected to reach 3,237.61 thousand m3 in 2027 from 1,411.55 thousand m3 in 2019, growing at a CAGR of 11.23 percent. Rising awareness regarding sustainable architectural methods coupled with the rising number of cross-laminated timber producers and increasing interest in green homes are factors augmenting the market growth.
The move from concrete-based development to wood-based development alongside government initiatives to cut down on pollution emanating from construction activities around the globe are factors impacting the market. In addition to this, the steadily diminishing costs of CLT due to more suppliers and shorter total project development time is having a positive impact on the industry.
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