North America Cross Laminated Timber Market: By Application; Regional Analysis; Historical Market and Forecast (2015-2025); Market Dynamics; Environmental Impact/Benefit Analysis; Financial Impact/Benefit Analysis; Project Details, Requirements and Costs Involved; Competitive Landscape; Industry Events and Developments

North America Cross Laminated Timber Market Outlook

The North America cross laminated timber market size reached a value of USD 78 million in 2019. The cross laminated timber market is further expected to grow at a CAGR of 20% between 2020 and 2025 to reach a value of almost USD 233 million by 2025.

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.

 

North America Cross Laminated Timber Market Report and Forecast 2020-2025

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Properties and Applications

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.

The industry in North America is divided on the basis of application into:

  • Residential
  • Educational Institutes
  • Government/ Public Buildings
  • Commercial Spaces

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.

 

Market Analysis

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.

 

Competitive Landscape

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:

  • DR Johnson Wood Innovations (NYSE: AFI)
  • Nordic Structures
  • Sterling Company 
  • Structurlam Mass Timber Corporation
  • StructureCraft Builders Inc
  • Others

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.

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
    6.2    Regional
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 (2015-2019) 
    8.3    North America Cross Laminated Timber Market Forecast (2020-2025)
    8.4    North America Cross Laminated Timber Market by Application
        8.4.1    Residential
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2015-2019)
            8.4.1.3    Forecast Trend (2020-2025)
        8.4.2    Educational Institutes
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2015-2019)
            8.4.2.3    Forecast Trend (2020-2025)
        8.4.3    Government/ Public Buildings
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2015-2019)
            8.4.3.3    Forecast Trend (2020-2025)
        8.4.4    Commercial Spaces
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2015-2019)
            8.4.4.3    Forecast Trend (2020-2025)
    8.5    North America Cross Laminated Timber Market by Country
        8.5.1    Market Share
            8.5.1.1    United States
            8.5.1.2    Canada
9    Regional Analysis
    9.1    United States
        9.1.1    Historical Trend (2015-2019)
        9.1.2    Forecast Trend (2020-2025)
    9.2    Canada
        9.2.1    Historical Trend (2015-2019)
        9.2.2    Forecast Trend (2020-2025)
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    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 (2015-2019) and Forecast (2020-2025)
    12.2    Canada Historical Price Trends (2015-2019) and Forecast (2020-2025)
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)
            19.3.1.1    Company Overview
            19.3.1.2    Product Portfolio
            19.3.1.3    Demographic Reach and Achievements
            19.3.1.4    Financial Summary
            19.3.1.5    Certifications
        19.3.2    Nordic Structures
            19.3.2.1    Company Overview
            19.3.2.2    Product Portfolio
            19.3.2.3    Demographic Reach and Achievements
            19.3.2.4    Financial Summary
            19.3.2.5    Certifications
        19.3.3    Sterling Company
            19.3.3.1    Company Overview
            19.3.3.2    Product Portfolio
            19.3.3.3    Demographic Reach and Achievements
            19.3.3.4    Financial Summary
            19.3.3.5    Certifications
        19.3.4    Structurlam Mass Timber Corporation
            19.3.4.1    Company Overview
            19.3.4.2    Product Portfolio
            19.3.4.3    Demographic Reach and Achievements
            19.3.4.4    Financial Summary
            19.3.4.5    Certifications
        19.3.5    StructureCraft Builders Inc
            19.3.5.1    Company Overview
            19.3.5.2    Product Portfolio
            19.3.5.3    Demographic Reach and Achievements
            19.3.5.4    Financial Summary
            19.3.5.5    Certifications
        19.3.6    Others
20    Industry Events and Developments


List of Figures and Tables

1.    North America Cross Laminated Timber Market: Key Industry Highlights, 2015 and 2025
2.    North America Cross Laminated Timber Historical Market: Breakup by Application (USD Billion), 2015-2019
3.    North America Cross Laminated Timber Market Forecast: Breakup by Application (USD Billion), 2020-2025
4.    North America Cross Laminated Timber Historical Market: Breakup by Country (USD Billion), 2015-2019
5.    North America Cross Laminated Timber Market Forecast: Breakup by Country (USD Billion), 2020-2025
6.    United States Historical Price Trends and Forecast 2015-2025
7.    Canada Historical Price Trends and Forecast 2015-2025
8.    North America Cross Laminated Timber Market Structure

Key Questions Answered in the Report

In 2019, the North America cross laminated timber market attained a value of USD 78 million.

In the forecast period of 2020-2025, the market is projected to grow at a CAGR of 20%.

By 2025, 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.

Analyst Review

The North America market for cross laminated timber attained a value of USD 78 million in 2019 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 2020-2025, growing at a CAGR of 20%. The market is projected to reach USD 233 million by 2025.

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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