In 2022, the cross laminated timber market was valued at USD 1.5 billion, and during the forecast period, a growth rate of 13.8% is anticipated. It is a multipurpose and environmentally friendly building material composed of glued wood layers piled in different directions.
Its strength, stability, and environmental advantages have made it more well-liked. Building construction, residential buildings, institutional and educational buildings, and its use in cultural and recreational facilities are some of its main uses. These are employed in the building of bridges. The market is expanding significantly as a result of growing consumer demand for eco-friendly and sustainable materials. Growing public awareness and rapid urbanization are major factors propelling the industry.

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Growth Drivers
Sustainability and Environmental Concerns
Because cross-laminated lumber is derived from renewable wood resources, it is regarded as a sustainable building material. Its demand has increased because to growing environmental awareness and a focus on lowering carbon footprints.
Cost-Effectiveness
Cross-laminated prefabrication is a desirable alternative for builders and developers since it cuts down on labor expenses and building time. Due to its affordability, CLT is becoming more and more popular.
Urbanization
Builders and developers choose cross-laminated prefabrication because it reduces labor costs and construction time. CLT is growing in popularity since it is inexpensive.
Segmentation
Type
· Adhesive Bonded
o Polyurethane
o Melamine-Urea-Formaldehyde
· Mechanically Fastened
o Self Tapping Screws
o Dowel Type Fasteners
End User
· Structural
· Non Structural
Industry
· Residential
· Non-Residential
o Industrial
o Public
o Others
Distribution Channel
· Direct Sales
· Distributors
· Online Platforms
Regional Outlook
· Asia Pacific
· North America
· Latin America
· Middle East and Africa
· Europe
Key Players
· Stora Enso
· XLam NZ Ltd.
· Structurlam Mass Timber Corporation
· Schilizer Holz AG
· Hasslacher Holding GmBH
· BinderHolz GmbH
· Mayer-Melnhof Holz
· KLH Massivholz GmBH
· Holz 100
· Pfeifer Group
· SmartLam
· B&K Structures
· Other Players
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