Asia Pacific Cross Laminated Timber Market Size & Outlook
Asia Pacific cross laminated timber market, 2018-2030 (US$M)
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Asia Pacific cross laminated timber market highlights
- The Asia Pacific cross laminated timber market generated a revenue of USD 165.4 million in 2022.
- The market is expected to grow at a CAGR of 14.8% from 2023 to 2030.
- In terms of segment, adhesive bonded cross laminated timber was the largest revenue generating product in 2022.
- Mechanically Fastened Cross Laminated Timber is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Japan is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 165.4 million |
| Market revenue in 2030 | USD 500.0 million |
| Growth rate | 14.8% (CAGR from 2022 to 2030) |
| Largest segment | Adhesive bonded cross laminated timber |
| Fastest growing segment | Mechanically Fastened Cross Laminated Timber |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Adhesive Bonded Cross Laminated Timber, Mechanically Fastened Cross Laminated Timber |
| Key market players worldwide | Stora Enso Oyj Ordinary Shares - Class R, Mayr-Melnhof Karton AG, Sterling Check Corp, Mercer International Inc, Binderholz, XLam, Schilliger Holz, KLH Massivholz, B&K Structures, SmartLam North America, Eugen Decker, Meiken Kogyo |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 14.1% of the global cross laminated timber market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 56.5 million by 2030.
Key Regions: Japan , U.S. , China , Australia , New Zealand
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Cross Laminated Timber Market Scope
Cross Laminated Timber Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific cross laminated timber market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cross laminated timber market will help companies and investors design strategic landscapes.
Adhesive bonded cross laminated timber was the largest segment with a revenue share of 89.96% in 2022. Horizon Databook has segmented the Asia Pacific cross laminated timber market based on adhesive bonded cross laminated timber, mechanically fastened cross laminated timber covering the revenue growth of each sub-segment from 2018 to 2030.
The enforcement of green building codes by various governments in the region is further anticipated to aid the market growth over the forecast period. Asia Pacific is generally characterized by high temperatures and extreme climatic conditions, thus consumers in the region prefer concrete construction over wooden construction, which is likely to restrict the growth in the projected time.
The expansion of commercial, residential, and industrial sectors on account of sustainable economic growth in the region is anticipated to upscale the construction activities, thereby driving the product demand over the forecast period. Flourishing tourism in the region has led to an increasing requirement for restaurants, resorts, and food chains.
Also, rapid urbanization and rising standard of living, due to rising per capita consumer income, are anticipated to boost the expansion of residential and commercial construction sectors including shopping malls and retail chains. The aforementioned factors are likely to ascend the demand for cross laminated timbers in the estimated time.
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Our clientele includes a mix of cross laminated timber market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific cross laminated timber market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific cross laminated timber market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific cross laminated timber market size, by country, 2018-2030 (US$M)
Asia Pacific Cross Laminated Timber Market Outlook Share, 2022 & 2030 (US$M)
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