{"id":7814,"date":"2023-06-26T08:40:32","date_gmt":"2023-06-25T22:40:32","guid":{"rendered":"https:\/\/woodcentral.com.au\/?p=7814"},"modified":"2024-10-21T20:31:00","modified_gmt":"2024-10-21T10:31:00","slug":"global-cross-laminated-timber-market-set-to-triple-by-2030","status":"publish","type":"post","link":"https:\/\/woodcentral.com.au\/global-cross-laminated-timber-market-set-to-triple-by-2030\/","title":{"rendered":"Global Cross-Laminated Timber Market Set to Triple by 2030"},"content":{"rendered":"\n

The global cross-laminated timber market (CLT) is expected triple over the next 7 years reaching USD 4.24 billion by 2030 from USD 1.66 billion, according to a new report published by Quince Market Insights.<\/a><\/p>\n\n\n\n

The report, which uses data from 12 leading CLT manufacturers, forecasts an acceleration in global demand by North America and Europe, with growing demand in the Asia Pacific region fuelled by Australia, Japan, China, and India.<\/p>\n\n\n\n

The market is expected to grow at 14.3%, compounding annually,<\/strong> with capital investment in new production plants driving increased production.<\/p>\n\n\n\n

In a report published in November 2022<\/a>, Europe was responsible for 50% of all CLT for 2021, with North America – and the USA more specifically – a trending market due to favourable green building codes.<\/p>\n\n\n\n

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In a report published last year, Europe, North America and Asia Pacific were identified as the major drivers of cross-laminated timber. (Source: Polaris Market Research Analysis)<\/figcaption><\/figure>\n\n\n\n

In the DACH region alone – which includes Germany (D), Austria (A) and Switzerland (CH) – the overall capacity of CLT is expected to reach 2 million cubic metres by the end of this year<\/a> \u2013 an increase from 1.2 million cubic metres in 2021 with the establishment of eight new production plants driving the increase.<\/p>\n\n\n\n

By the numbers, Austria has seven CLT manufacturing sites, Germany has three, and Switzerland has two. <\/p>\n\n\n\n

Smaller manufacturing sites exist in Finland, Italy, Norway, Spain, and Sweden, with new CLT plants built in Finland, France, Sweden, and the United Kingdom.<\/p>\n\n\n\n

Earlier this month<\/a>, Wood Central reported on the newly inaugurated Sodra CLT plant in V\u00e4r\u00f6, Sweden, one of the world\u2019s newest plants described as “the world\u2019s greenest mass timber facility.”<\/p>\n\n\n\n

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The S\u00f6dra CLT Plant in V\u00e4r\u00f6backa has been described as the World\u2019s Greenest Mass Timber Plant \ud83d\udd02

Here it collects offcuts for #bioenergy<\/a> \ud83e\udeb5

It uses renewables to power one of the largest manufacturing facilities in Europe#sodra<\/a> #masstimber<\/a> #NetZero<\/a> pic.twitter.com\/JDilTgQUWT<\/a><\/p>— WoodCentralAu (@WoodCentralAU1) June 14, 2023<\/a><\/blockquote>