North America Cross Laminated Timber Market Size & Outlook
North America cross laminated timber market, 2018-2030 (US$M)
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North America cross laminated timber market highlights
- The North America cross laminated timber market generated a revenue of USD 246.0 million in 2022.
- The market is expected to grow at a CAGR of 15.1% 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, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 246.0 million |
| Market revenue in 2030 | USD 757.0 million |
| Growth rate | 15.1% (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, North America region accounted for 21.0% 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.
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Cross Laminated Timber Market Scope
Cross Laminated Timber Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 89.51% in 2022. Horizon Databook has segmented the North America 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.
Cross laminated timber manufacturers in the region are aiming to comply with the standards set by Composite Panel Association (CPA). This regulates the use of formaldehyde in the production of wood products. Formaldehyde is emitted into the atmosphere when wood products are burned and is hazardous to the personnel on inhalation.
However, the growing popularity of wood products for improvements in aesthetics and relatively low cost of the products as compared to other wood products are anticipated to create a wide scope for the market.
In the U.S., cross laminated timber is widely used in construction applications to improve the aesthetics of buildings, thereby driving the growth of the market in the country. Additionally, the surging number of remodeling and real estate development projects in the U.S. is anticipated to fuel the demand for cross laminated timber in the country over the forecast period.
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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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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America cross laminated timber market , including forecasts for subscribers. This continent databook contains high-level insights into North America cross laminated timber market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America cross laminated timber market size, by country, 2018-2030 (US$M)
North America Cross Laminated Timber Market Outlook Share, 2022 & 2030 (US$M)
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