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Report
North America Cross Laminated Timber Market Report and Forecast 2023-2028
Market Report I 2023-10-23 I 168 Pages I EMR Inc.
North America Cross Laminated Timber Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the North America cross laminated timber market reached a value of USD 0.26 Billion in 2022. Aided by growing adoption of cross laminated timber in the construction industry and rising demand for stylish and luxury apartments, the market is projected to further grow at a CAGR of 29.1% to reach a value of USD 1.24 Billion by 2028.
Cross laminated timber (CLT) is a multi-layered wooden panel, typically made by gluing several layers of solid-sawn lumber. Each layer is oriented perpendicular to its adjacent layer, resulting in a product with remarkable strength and dimensional stability. CLT is gaining traction as a sought-after material for various applications ranging from walls and floors to roofs in both residential and commercial constructions.
The surge in the North America cross laminated timber market demand can be attributed to its sustainability credentials. In a world concerned with environmental impacts, CLT offers an eco-friendly alternative to traditional construction materials. Not only does it reduce the carbon footprint of buildings, but it also promotes the use of renewable resources. The construction industry, realising the potential environmental benefits, has warmed up to the adoption of CLT, further driving market growth.
Major North America cross laminated timber market trends include the innovation in design and engineering. The introduction of hybrid systems, combining CLT with other materials, has paved the way for the creation of taller wood buildings, heralding a new era in modern construction. The material's innate architectural flexibility has made it an important product among contemporary architects and designers.
From a commercial perspective, there is a growing shift towards building office spaces, educational institutions, and multi-residential units using CLT. Its acoustic properties, coupled with faster construction times, have made it an optimal choice for such projects. Moreover, in residential spaces, homeowners are appreciating the aesthetic appeal of exposed CLT, leading to its increased incorporation in modern home designs.
The North America cross laminated timber market analysis reveals that the United States holds a significant share of the market, with Canada trailing closely. The rich timber resources in these regions, coupled with advanced manufacturing facilities, are factors that contribute to this dominance. Furthermore, policies promoting sustainable construction and urban development in cities across these countries have bolstered the market's expansion.
Collaborations and partnerships are core strategies further aiding in the expansion of the North America cross laminated timber market size. Key players in the North American market are forging alliances and focusing on mergers and acquisitions, to expand their operational territories and diversify their product offerings. These businesses are also heavily investing in research and development endeavours, seeking to introduce innovative solutions that align with evolving consumer demands and construction norms.
Market Segmentation
The market can be divided based on application and country.
Market Breakup by Application
- Residential
- Public
- Commercial
Market Breakup by Country
- United States
- Canada
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America cross laminated timber market. Some of the major players explored in the report by Expert Market Research are as follows:
- DR Johnson Wood Innovations (NYSE: AFI)
- Nordic Structures
- Sterling Company
- Structurlam Mass Timber Corporation
- StructureCraft Builders Inc
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 North America
7 Opportunities and Challenges in the Market
8 North America Cross Laminated Timber Market Analysis
8.1 Key Industry Highlights
8.2 North America Cross Laminated Timber Historical Market (2018-2022)
8.3 North America Cross Laminated Timber Market Forecast (2023-2028)
8.4 North America Cross Laminated Timber Market by Application
8.4.1 Residential
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Public
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Commercial
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 North America Cross Laminated Timber Market by Country
8.5.1 United States
8.5.2 Canada
9 Regional Analysis
9.1 United States
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
13 Environmental Impact/Benefit Analysis
14 Cross Laminated Timber Manufacturing Process
14.1 Product Overview
14.2 Detailed Process Flow
14.3 Various Types of Unit Operations Involved
14.4 Mass Balance and Raw Material Requirements
15 Project Details, Requirements and Costs Involved
15.1 Land Requirements and Expenditures
15.2 Construction Requirements and Expenditures
15.3 Plant Layout
15.4 Plant Machinery
15.5 Machinery Pictures
15.6 Raw Material Requirements and Expenditures
15.7 Raw Material and Final Product Pictures
15.8 Packaging Requirements and Expenditures
15.9 Transportation Requirements and Expenditures
15.10 Utility Requirements and Expenditures
15.11 Manpower Requirements and Expenditures
15.12 Other Capital Investments
16 Loans and Financial Assistance
17 Project Economics
17.1 Capital Cost of the Project
17.2 Techno-Economic Parameters
17.3 Product Pricing and Margins Across Various Levels of the Supply Chain
17.4 Income Projections
17.5 Expenditure Projections
17.6 Taxation and Depreciation
17.7 Financial Analysis
17.8 Profit Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Key Players' Market Share
18.3 Company Profiles
18.3.1 DR Johnson Wood Innovations (NYSE: AFI)
18.3.1.1 Company Overview
18.3.1.2 Product Portfolio
18.3.1.3 Demographic Reach and Achievements
18.3.1.4 Financial Summary
18.3.1.5 Certifications
18.3.2 Nordic Structures
18.3.2.1 Company Overview
18.3.2.2 Product Portfolio
18.3.2.3 Demographic Reach and Achievements
18.3.2.4 Financial Summary
18.3.2.5 Certifications
18.3.3 Sterling Company
18.3.3.1 Company Overview
18.3.3.2 Product Portfolio
18.3.3.3 Demographic Reach and Achievements
18.3.3.4 Financial Summary
18.3.3.5 Certifications
18.3.4 Structurlam Mass Timber Corporation
18.3.4.1 Company Overview
18.3.4.2 Product Portfolio
18.3.4.3 Demographic Reach and Achievements
18.3.4.4 Financial Summary
18.3.4.5 Certifications
18.3.5 StructureCraft Builders Inc
18.3.5.1 Company Overview
18.3.5.2 Product Portfolio
18.3.5.3 Demographic Reach and Achievements
18.3.5.4 Financial Summary
18.3.5.5 Certifications
18.3.6 Others
19 Key Trends and Developments in the Market
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