Global CLT market to grow like never before

 Thursday, December 8, 2022

Timber is one of the oldest and most common building materials, and innovations are transforming its role in the future of construction. Timber is naturally renewable and has the lowest embodied carbon – the carbon created in construction – of any building material. It’s visually appealing, readily available from sustainable and ethical sources and is structurally robust. No wonder forward-thinking architects are already using it in innovative ways. Mandela Buurt, an entire neighbourhood made from wood in Amsterdam. Or Trenezia, a sustainable village in Bergen, Norway with 1,500 timber homes in a zero-emissions overwater project.

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.

There’s no getting away from it: the construction of new buildings, with the traditional materials of steel, iron and cement, accounts for around 39% of all global carbon emissions. Reducing these figures is crucial to ensure a healthy, prosperous and biodiverse future and the answer could lie in nature itself. Step forward timber.

Tags: CLT, Cross laminated timber, sustainability, timber construction, wooden buildings, wooden construction, woodworking and manufacturing, woodworking industry