Hexa Reports Industry Cross Laminated Timber Market | Page 2

Institutional and commercial segments are expected to collectively account for 46.9% of the global market in
2025. The demand for these segments is attributed to low cost of construction and easy maintenance of cross
laminated timber structures. Innovations in building and designing technologies are projected to boost the
demand for cross laminated timber products over the forecast period.
Europe is the leading region owing to the early adoption of cross laminated timber and research &
development on CLT technologies by countries such as Austria and Germany. The availability of timber from
the forests of central European countries and advanced timber processing industries are the leading cause for
market growth in the region. Countries like Canada, the U.S., New Zealand, Japan, and China in the North
American and Asia Pacific regions are also rapidly developing markets for cross laminated timber.
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Further key findings from the report suggest
 In terms of volume, the market is expected to grow at a CAGR of 15.1% from 2017 to 2025 on account
of increasing awareness about sustainable housing. Residential segment is expected to witness the
fastest growth rate of 15.4%, in terms of revenue, from 2017 to 2025 owing to high product demand in
developed countries.
 North America was valued at USD 65 million in 2016 and is expected to witness significant
development on account of rising demand from educational institutions and residential builders
 Key participants include Stora Enso, Mayr-Melnhof Holz, Binderholz, XLam Ltd., Sterling Lumber,
Schilliger Holz AG, KLH Massivholz GmbH, B & K Structures, Eugen Decker Holzindustrie KG,
Structurlam, SmartLam, and Meiken Lamwood Corp. These companies are focused on increasing their
production capacity to fulfill the worldwide massive product demand.
 In 2016, Stora Enso invested approximately USD 900 million to setup a plant in Guanxi, China, to
strengthen its presence in the Asia Pacific region
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