Global Cross Laminated Timber Market Size
The cross-laminated timber market, which was valued at US$ 954.23 million in 2020, is poised for significant growth. With a projected compound annual growth rate of 11.50 %, it is expected to reach a staggering US$ 2838.36 million by 2030. This promising trajectory presents a wealth of opportunities for investors and stakeholders in the timber industry.
A wood panel product called cross-laminated timber (CLT) is created by gluing layers of solid-sawn lumber together. Every board layer is adhered to the wide faces of the other layers by leaning perpendicular to them, usually symmetric so that the outer layers are oriented in the same direction. Although designs with even numbers of layers are also possible, odd numbers are the most popular.