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The North America cross laminated timber market size reached a value of USD 78 million in 2020. The North America cross laminated timber market is further expected to grow at a CAGR of 20% between 2021 and 2026 to reach a value of almost USD 233 million by 2026.
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The North America market for cross laminated timber is driven by favourable government policies. The industry is further being enhanced within the region by the gradual adoption of the product in the construction industry, especially for multi-storey structures. The region was first introduced to cross-laminated timber (CLT) in the early 2000s, and, since then, the market has found great momentum. It is now being used as either a standalone system or along with the other building materials in the construction of mid-rise or high-rise buildings for residential and commercial purposes. In the coming years, the rising adoption of the product will further propel the industry growth.
North America is witnessing an increasing use of cross laminated timber in residential as well as institutional applications, further accelerating the market growth. The rising demand for stylish and luxury apartments by the customers is expected to have a positive impact on the industry growth. The product is further being used for residential applications such as floors, walls, and ceilings, supporting the market growth of cross laminated timber. Within North America, Canada represents the largest market owing to the faster adoption of the product in the country as compared to the United States.
Cross laminated timber is an engineered wood-based system composed of dimensional lumber stacked crosswise at 90-degree angles. These planks are then fused together in a hydraulic or vacuum press over the entire surface area. This arrangement provides rigidity, strength, and dimensional stability to the cross laminated timber, making it a viable alternative to masonry, concrete, and steel.
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The industry in North America is divided on the basis of application into:
Currently, the residential segment dominates the market, accounting for the largest market share.
The report also covers the regional markets of cross-laminated timber like the United States and Canada.
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The North America cross laminated timber market is driven by its resistance ability to earthquake and fire. Cross laminated timber is primarily a prefabricated product, which requires less construction time than the traditional construction materials. Consequently, helping reduce the total cost of construction, further aiding market growth. Various design options, extensive floor space, and strong seismic performance has led to an increase in the preference of the product as a construction material by the consumers and architects; thereby increasing the demand for the product within the region.
The North America cross laminated timber industry is further propelled by the favourable government policies and creation of a standard product code that enables its usage in the construction of multi-storey buildings. The governments in the North America region are focusing on green building solutions, further enhancing the industry growth as the product is made from trees and is renewable and sustainable in nature and enables the storage of carbon from the environment. The major manufacturers of cross laminated timber are constantly innovating and coming up with technological advancements to cater to the industry growth. Cross laminated timber’s high maintenance costs and poor acoustic performance may, however, hinder the industry growth in the coming years.
The report gives a detailed analysis of the following key players in the North America market for cross laminated timber, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6.1 North America
7 Industry Opportunities and Challenges
8 North America Cross Laminated Timber Market Analysis
8.1 Key Industry Highlights
8.2 North America Cross Laminated Timber Historical Market (2016-2020)
8.3 North America Cross Laminated Timber Market Forecast (2021-2026)
8.4 North America Cross Laminated Timber Market by Application
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2016-2020)
188.8.131.52 Forecast Trend (2021-2026)
8.4.2 Educational Institutes
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2016-2020)
18.104.22.168 Forecast Trend (2021-2026)
8.4.3 Government/ Public Buildings
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2016-2020)
188.8.131.52 Forecast Trend (2021-2026)
8.4.4 Commercial Spaces
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2016-2020)
18.104.22.168 Forecast Trend (2021-2026)
8.5 North America Cross Laminated Timber Market by Country
8.5.1 Market Share
22.214.171.124 United States
9 Regional Analysis
9.1 United States
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
10 Market Dynamics
10.1 SWOT Analysis
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 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
12.1 United States Historical Price Trends (2016-2020) and Forecast (2021-2026)
12.2 Canada Historical Price Trends (2016-2020) and Forecast (2021-2026)
13 Environmental Impact/Benefit Analysis
14 Financial Impact/Benefit Analysis
15 Cross Laminated Timber Manufacturing Process
15.1 Product Overview
15.2 Detailed Process Flow
15.3 Various Types of Unit Operations Involved
15.4 Mass Balance and Raw Material Requirements
16 Project Details, Requirements and Costs Involved
16.1 Land Requirements and Expenditures
16.2 Construction Requirements and Expenditures
16.3 Plant Layout
16.4 Plant Machinery
16.5 Machinery Pictures
16.6 Raw Material Requirements and Expenditures
16.7 Raw Material and Final Product Pictures
16.8 Packaging Requirements and Expenditures
16.9 Transportation Requirements and Expenditures
16.10 Utility Requirements and Expenditures
16.11 Manpower Requirements and Expenditures
16.12 Other Capital Investments
17 Loans and Financial Assistance
18 Project Economics
18.1 Capital Cost of the Project
18.2 Techno-Economic Parameters
18.3 Product Pricing and Margins Across Various Levels of the Supply Chain
18.4 Income Projections
18.5 Expenditure Projections
18.6 Taxation and Depreciation
18.7 Financial Analysis
18.8 Profit Analysis
19 Competitive Landscape
19.1 Market Structure
19.2 Key Players' Market Share
19.3 Company Profiles
19.3.1 DR Johnson Wood Innovations (NYSE: AFI)
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
220.127.116.11 Financial Summary
19.3.2 Nordic Structures
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
188.8.131.52 Financial Summary
19.3.3 Sterling Company
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
22.214.171.124 Financial Summary
19.3.4 Structurlam Mass Timber Corporation
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
220.127.116.11 Financial Summary
19.3.5 StructureCraft Builders Inc
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
188.8.131.52 Financial Summary
20 Industry Events and Developments
List of Figures and Tables
1. North America Cross Laminated Timber Market: Key Industry Highlights, 2016 and 2026
2. North America Cross Laminated Timber Historical Market: Breakup by Application (USD Billion), 2016-2020
3. North America Cross Laminated Timber Market Forecast: Breakup by Application (USD Billion), 2021-2026
4. North America Cross Laminated Timber Historical Market: Breakup by Country (USD Billion), 2016-2020
5. North America Cross Laminated Timber Market Forecast: Breakup by Country (USD Billion), 2021-2026
6. United States Historical Price Trends and Forecast 2016-2026
7. Canada Historical Price Trends and Forecast 2016-2026
8. North America Cross Laminated Timber Market Structure
In 2020, the North America cross laminated timber market attained a value of USD 78 million.
In the forecast period of 2021-2026, the market is projected to grow at a CAGR of 20%.
By 2026, the market is estimated to reach a value of nearly USD 233 million.
The major drivers of the industry such as rising disposable incomes, increasing population, its resistance ability to earthquake and fire, favourable government policies and creation of a standard product code, and the growing adoption of the product in the construction industry are expected to aid the market growth.
Innovations in the industry and the growing adoption of green buildings are the major trends expected to propel the growth of the market.
The major regions in the market in North America are the United States and Canada, with Canada accounting for the most significant market share.
The application segment is led by the residential sector.
The major players in the industry are DR Johnson Wood Innovations, Nordic Structures, Sterling Company, Structurlam Mass Timber Corporation, and StructureCraft Builders Inc, among others.
The North America market for cross laminated timber attained a value of USD 78 million in 2020 sriven by the rising adoption of the product in the construction industry and the implementation of favourable government policies. Aided by the growing shift towards green buildings, the industry is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 20%. The market is projected to reach USD 233 million by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. On the basis of application, the residential sector accounts for the largest market share. The major regional markets for the product in North America are the United States and Canada, with Canada accounting for the largest share of the market. The key players in the above market include DR Johnson Wood Innovations, Nordic Structures, Sterling Company, Structurlam Mass Timber Corporation, and StructureCraft Builders Inc, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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