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Home | Search Global IT News: IT News & Press Release Distribution: Cross Laminated Timber Market Size, Share, Demand, Growth Factors and Opportunities   (IT-NEWSWIRE.COM, February 23, 2024 ) The report "Cross Laminated Timber Market by Type (Adhesive Bonded, and Mechanically Fastened), Industry (Residential, and Non-residential), End Use (Structural, and Non-structural), & Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2028",size is projected to grow from USD 1.4 billion in 2023 to USD 2.6 billion by 2028, at a CAGR of 13.7%. The rapid growth of the housing & construction sector, increasing gross domestic product (GDP), growing urbanization, and increasing disposable income drives the cross laminated timber market. The cross laminated timber market is divided into five key regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. US and Canada, among other countries, are leading the cross laminated timber market globally. Browse in-depth TOC on "Cross Laminated Timber Market” 176 - Market Data Tables 51 - Figures 201 - Pages Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=192075256 Adhesive Bonded segment is expected to account for the largest share in 2023. The use of structural adhesives or glues has been one of the most significant technological advances in modern engineered wood building. These chemical bonding agents have assisted in the formation of structural goods that have low mass, high tensile strength, and minimum expansion and contraction owing to moisture retention. The adhesives used for bonding engineered wood have diverse chemical properties and are chosen depending on the end product's specific needs. This is also the standard for CLT and LVL manufacture (Laminated Veneer Lumber). Non-residential segment is expected to account for the largest share in 2023. Cross-Laminated Timber (CLT) is used in the non-residential sector due to its many benefits. CLT can be used not only as load-bearing panels for walls, floors, and roofs but also for shear walls. CLT is structurally viable and can result in faster, less expensive projects that ultimately enhance the tenant experience. Additionally, CLT is a sustainable building material that can store carbon during the building's lifetime and even capture additional carbon. Furthermore, using CLT during construction of non-residential buildings can result in several possible advantages such as reduced construction time and cost. Therefore, CLT is an attractive option for non-residential construction due to its structural integrity, sustainability, and cost-effectiveness. Get Sample Pages of This Report @https://www.marketsandmarkets.com/requestsampleNew.asp?id=192075256 Europe is expected to account for the largest share in 2023. The major drivers for this market are the increase in awareness regarding the importance of cross laminated timber as well as rising industrialization in the region after the economic slowdown. The European region has the highest number of manufacturers of cross laminated timber and is currently leading in production due to the presence of major manufacturers such as Mayr-Melnhof Holz. Due to the adoption of strategies such as mergers & acquisitions and investments & acquisitions, further advancements in the market are expected. Cross laminated timber itself has been in use for decades, particularly in this region. Interest in the material is surging along with concern about the greenhouse-gas emissions associated with concrete and steel. The production of construction materials such as steel, cement, and glass accounts for 10% of global energy-related CO2 emissions, according to a United Nations report. Cross-laminated timber and other engineered wood products, on the other hand, can improve the environment in three ways: trees collect and store carbon as they develop; long-lived wood products lock in carbon; and these goods may be utilized in many circumstances instead of high-impact materials like concrete. Cross Laminated Timber (CLT) market key Players Major players operating in the cross laminated timber include Mayr-Melnhof Holz (Austria), Stora Enso (Finland), Binderholz GmbH (Austria), Eugen Decker Holzindustrie KG (Germany), Hasslacher Holding GmbH (Austria), Schilliger Holz AG (Switzerland), KLH Massivholz GmbH (Austria), Structurlam Mass Timber Corporation (Canada), XLam NZ Limited (New Zealand), and others. Don't miss out on business opportunities in Cross Laminated Timber. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=192075256 Stora Enso: Stora Enso produces and sells newspaper, book paper, magazine paper, fine paper, consumer board, industrial packaging, and wood products. Packaging Solutions, Biomaterials, Wood Products, Forest, Paper, and Miscellaneous are the segments under which it works. The Packaging Solutions business creates fiber-based packaging and is involved in all stages of the value chain, from pulp production to material and from package manufacture to recycling. The Biomaterials sector provides a variety of pulp grades to fulfill the needs of manufacturers of paper, board, tissue, textile, and hygiene products. About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Ashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com MarketsandMarkets™ Mr. Aashish Mehra 1-888-600-6441 raviraj.tak@marketsandmarkets.com Source: EmailWire.Com Source: EmailWire.com

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