Global Cross Laminated Timber Market Trends
The cross-laminated timber market has been divided into many segments worldwide based on type, application, and geography. The market is divided into two categories based on type: mechanically fastened CLT and adhesive-bonded CLT. Since adhesive-bonded CLT held the largest market share, it is anticipated to increase over the projection period. Due to its attributes, like cost-effectiveness and dimensional consistency, adhesive-bonded CLT is favored by manufacturers over mechanically fastened CLT. Based on the applications, the market is divided into residential, commercial, and industrial segments. The residential sector has always held the biggest market share and is still doing so. Additionally, the market's maximum growth rate is anticipated for this sector due to the growing demand for the construction of ceilings, floors, cladding, and roofs. Given that these materials are mostly utilized in producing long-lasting interior décor items, the commercial application segment is anticipated to expand over the forecast period. Compared to conventional goods like steel and concrete, they are both lighter and more robust.