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North America CLT (Cross-Laminated Timber) Market Trends 2019, Demand and Forecast Till 2024

The North America CLT (Cross-Laminated Timber) market has witnessed tremendous growth over the past few years. This can be attributed to the rising demand for CLT from the construction industry due to its numerous advantages and cost effectiveness.

Press Release

Cross-Laminated Timber (CLT) is an engineered wood-based system made from dimensional lumber stacked crosswise at right angles. These planks are then bonded together in a hydraulic or vacuum press over the entire surface area. This configuration provides strength, rigidity and dimensional stability to CLT which makes it a viable alternative to concrete, masonry and steel. In North America, cross-laminated timber is gradually gaining prominence in the construction industry, particularly for multi-storey structures.

According to a new research report by IMARC Group, the North America cross-laminated timber market was worth US$ 59.73 Million in 2018, registering a CAGR of 34.84% during 2013-2018. The report further anticipates the market to reach a value of nearly US$ 171 Million by 2024.

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North America Cross-Laminated Timber Market Drivers/Constraints:

  • As CLT is largely prefabricated at the manufacturing site, it requires less construction time as compared to traditional construction materials. This, in turn, helps in reducing the overall cost of construction.
  • CLT offers design flexibility, large floor space and strong seismic performance owing to which it has become a preferred construction material amongst the consumers and architects. As a result, the demand for CLT has witnessed an upsurge in the region.
  • The growth of the CLT market in North America has further been stimulated by favourable government policies and development of a standard product code which facilitate its usage in the construction of multi-storey buildings.
  • Some of the factors that restrain the growth of the CLT market include its poor acoustic performance and high maintenance costs.

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Market Segmentation:

Performance of Key Regions

1. United States
2. Canada

Market Breakup by Application

1. Residential
2. Educational Institutes
3. Government/Public Buildings
4. Commercial Space

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Some of the leading players operating in the market are:

Nordic Structures
DR Johnson Wood Innovations
SmartLam, LLC
Sterling Lumber

This post was originally published on Space Market Research


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