Cross Laminated Timber Market Size, Share & Trends Analysis Report By Product (Adhesive Bonded CLT, Mechanically Fastened CLT), By Application (Residential, Institutional), By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the cross laminated timber market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for cross laminated timber market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of cross laminated timber market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Cross Laminated Timber Market Categorization:

The cross laminated timber market was categorized into three segments, namely product (Adhesive Bonded Cross Laminated Timber, Mechanically Fastened Cross Laminated Timber), application (Residential, Institutional, Commercial), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The cross laminated timber market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The cross laminated timber market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eleven countries, namely, the U.S.; Canada; Mexico; Austria; Germany; Switzerland; Italy; New Zealand; China; Japan; Australia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Cross laminated timber market companies & financials:

The cross laminated timber market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Stora Enso Oyj: Stora Enso Oyj was incorporated in 1998 and is headquartered in Finland. The company is primarily engaged in developing and producing products based on wood and biomass in the form of biomaterials, wooden construction, and paper. It has organized its business into six operating divisions, namely, wood products & services, packaging materials, packaging solutions, biomaterials, forest, and paper. The company’s product portfolio includes formed fiber, bio-composites, wood products, bio-based chemicals, bio-based materials, intelligent packaging, and corrugated packaging. The wood products & services division of the company includes products such as cross laminated timber (CLT), laminated veneer lumber (LVL), cladding & decking, door and window components, sawn and planed wood, massive wood structures, building concepts, and digital tools. The company offers CLT with different panel thicknesses. It currently offers panels with dimensions up to 2.95 x 16 meters, depending on the customer and commercial requirements. These panels are used in residential, commercial, and industrial buildings in place of concrete, steel, and masonry.

• Mayr-Melnhof Holz Holding AG: Mayr-Melnhof Holz Holding AG was incorporated in 1850 and is headquartered in Leoben, Austria. The company is engaged in the production of timber and processed wood products including sawn timber & processing. Its timber production plant includes cross laminated timber, glued laminated timber & special components, glued laminated timber ceilings, wood pellets, and concrete framework technology. It produces duos & tribars, framework beams & panels, three-layered panels, and fresh, dried & planed timber. The company distributes its products with MM in their names that is the short form of Mayr-Melnhof. It offers MM cross lam, MM masterline, MM vistaline, MM professional deck, MM blockdeck, MM HBE, XC XlamConcrete, MM cut wood, HT 20 plus, K1 yellow plan, and MM royal pellets to customers. MM cross lam includes cross laminated timber panels that find application in single & multifamily residential buildings, commercial offices & industrial buildings, agriculture, tourism, leisure facilities, and module & temporary buildings.

• Binderholz GmbH: Binderholz GmbH was incorporated in 1950 and is headquartered in Fügen, Austria. It is a family-owned company that is engaged in the manufacturing of solid wood products and innovative building solutions. The company’s products and services include cross laminated timber BBS, glulam glue laminated timber (GLT), lumber, profiled wood, planed goods, KVH, garden wood, hardware store, chipboard pallets, chipboard blocks, biofuels, solid wood panels, and horse litters. The company offers to cross laminated timber under the name of ‘CLT BBS’ which is available in two distinct formats, namely BBS 125 system format and BBS XL large format. The BBS 125 system format includes cross laminated timber wood panels having a width of 125 cm and BBL XL format includes products with a maximum width of 3.50 meters.

• XLam: XLam was incorporated in 1917 and is headquartered in Nelson, New Zealand. The company is a prominent provider of sustainable building solutions for residential and commercial purposes. It majorly focuses on the design, manufacturing, off-site solutions, and assembly services related to the production of CLT products. The company offers an array of construction solutions to meet specific market segments including custom build, multi-residential construction, commercial offices, and vertical extension solution. The company’s cross laminated product lineup includes large building panels derived from solid wood boards glued or laminated together in cross-layers. In addition, the company offers custom-built panels made from radiata pine boards from the sawmills as per the designer’s specifications.

• Sterling Solutions LLC: Sterling Solutions LLC was incorporated in 1998 and is headquartered in Illinois, U.S. The company offers matting and site access solutions to construction and industrial application industries. Its product segment includes TeraLam mats, terra cross bridge, clean exit mats, composite mats, timber mats, crane mats, and marine-barge floating mats. Cross laminated timber is distributed by the company under the trademark name ‘TeraLam Mats’. The company uses special adhesives to perpendicularly join the wood for extra strength bond in a lightweight solution. It uses a terralam connect system to tether adjacent timber mats together to maintain the integrity and in-sync access to platforms and roads. The terralam connect system leads to low maintenance, service cost, and work interruption during the construction project. The company offers cross laminated timber under the following brands, namely, TerraLam 300 CLT, TerraLam 504 CLT, TerraLam 508 CLT, and TerraLam 700 CLT.

• Schilliger Holz AG: Schilliger Holz AG was incorporated in 1861 and is headquartered in Küssnacht, Switzerland. The wood processing company is primarily engaged in the secondary processing of wood such as dry timber, glulam, cross laminated timber, and finger-jointed timber. The product offered by the company includes five-layered cross laminated timber panels, glue-laminated timber, solid wood panels, finger-jointed wood panels, paneling wood, and master builder products. These products are used in residential, commercial, and industrial building applications in the form of floor & ceiling panels. In addition, CLT panels with high strength find application in wall & ceiling, cantilever medium, roof connector without using metal connectors, and various others in building material-demanding architectural projects.

• KLH Massivholz GmbH: KLH Massivholz GmbH was incorporated in 1997 and is headquartered in Teufenbach-Katsch, Austria. It is a family-owned company that is engaged in the manufacturing and distribution of cross laminated timber under the trademark name ‘KLH’. The product finds application in construction, structural for load-bearing operations, fire protection, and other software & tools. The construction application segment includes cross laminated timber for residential construction, passive houses, industrial buildings, and others. In addition, the company offers general technical advice, assessment of building components for the development of project-specific construction details, and structural pre-measurement of solid timber boards to consumers.

• B&K Structures: B&K Structures was established in 1974 and is headquartered in Derby, United Kingdom. The company is engaged in designing, manufacturing, and delivering sustainable construction materials. The broad range of sustainable structural products provided by the company includes cross laminated timber, glulam, cross laminated timber, and timber cassettes. It also provides steel frames for hybrid structural solutions. The portfolio of the company has products useful for the residential, commercial, and retail sectors. It also offers products for educational institutions and sports & leisure facilities. The company employs an expert in-house project team that helps and supports customers & clients during the time of cross laminated timber wood procurement, design, and construction activity.

• Eugen Decker & WebMan: Eugen Decker & WebMan was established in 1983 and is headquartered in Morbach, Germany. The company is engaged in manufacturing sustainable wood products such as cross laminated timber, solid structural timber, laminated beams, vertical stems, framing timber, glulam, and sawn timber. The raw materials are processed in the company’s workhouse that caters to approximately 40% of consumption which is needed for cross laminated timber and glued laminated timber products. The company offers solid wood elements for cross laminated timber products that are cut to size by CNC timber framing machines as per requirement. The company follows quality-controlled production with continuous external & internal checks for the high-load bearing cross-laminated timber.

• Structurlam Mass Timber Corporation: Structurlam Mass Timber Corporation was incorporated in 1962 and is headquartered in Penticton, Canada. The company is involved in the designing, engineering, and installation of structural solutions. It has proficiency in manufacturing engineered wood products such as CLT panels and glue laminated beams, lamellas, solid-sawn timber, and mass timber package. In addition, it was the first company to open a cross laminated timber plant in North America. The company offers design, engineering & manufacturing assistance, support, and fabrication solutions to its customers. Cross laminated timber is distributed under the trademark name of ‘Crosslam CLT’, in building solutions for core, roof, and floor. The company uses specific technology for timber design such as wood engineering, 3D modeling, and production machining. The company is proficient in offering solutions related to prefabrication and standard sizing that results in reduced construction time and high efficiency.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Cross Laminated Timber Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Cross Laminated Timber Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.