An Overview of the Market for Cross-Laminated Timber
Cross-laminated timber is a type of wood panel (similar to plywood) made by bonding layers of lumber together. One layer of boards is glued perpendicularly to another, resulting in a strong laminated sheet. Due to its availability in all dimensions and high load-bearing capabilities, cross-laminated timber is a cost-effective option for commercial building projects.
Cross-laminated timber has more properties than plywood, such as strength, versatility, and sustainability. Even though cross-laminated timber is more expensive than plywood, factors such as construction time, quality, and cleaning can all be taken into account when making a decision.
Market Dynamics for Cross-Laminated Timber
During the forecast period, the cross-laminated timber market is expected to grow. Because of the design and ease of construction, constructors and builders are gravitating toward cross-laminated timber. Because of the cross-laminated timber, a faster and more secure construction is possible.
The manufacturing of cross-laminated timber is attracting the attention of timber manufacturers. People’s spending power on home and office design and decoration is helping to boost the cross-laminated timber market. With the expansion of the building and construction industry, the cross-laminated timber market is expected to grow.
The market for Cross-Laminated Timber in the United States: Regional Prospects
Europe is the world’s largest consumer of cross-laminated wood. Germany and Austria are expected to grow their market share in the European cross-laminated timber market. Because of its use in the building and construction industry, Germany is the leading consumer of cross-laminated wood. The second-largest market for cross-laminated timber is in North America. For decoration and quick construction, the United States uses cross-laminated wood. The presence of a large number of cross-laminated timber manufacturers is a positive factor for Europe. The European market is expanding as a result of the low cost and easy availability of cross-laminated wood.
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