Over the past several years, the North America CLT market has grown at a significant pace. This can be attributed to the increasing number of green building projects along with the expanding applications of CLT in the region.
Cross Laminated Timber (CLT) is a solid engineered wood product which is made using an odd number of layers of lumber board laminated crosswise and bonded together using an adhesive. This arrangement enhances the strength, dimensional stability, rigidity and mechanical properties of the panels and creates an effective load resisting system. In North America, CLT was first introduced during the early 2000s and, since then, its usage has gained much prominence. The latest report by IMARC Group titled, “North America Cross Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the north america cross laminated timber market is currently witnessing a healthy growth.
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Highlights of the North America Cross Laminated Timber Market:
- Increasing focus on green building projects is expected to be the major demand driver.
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CLT offers a diverse range of environmental benefits as it is renewable, sustainable and sequesters carbon from the environment. It also requires lesser energy during manufacturing, transportation and assembling as compared to structural concrete, masonry or steel. In addition, it is easier to install and requires minimal installation time, thereby, helping in speeding up the construction process as well as saving costs. As CLT is prefabricated, it generates almost no waste onsite and reduces the cost of erection. Furthermore, it offers flexible design and has a certain aesthetic appeal which have made it popular among interior designers and architectures. Since the government agencies in the North American region are focusing on green building solutions and encouraging the use of CLT in high-rise constructions, the global demand for CLT is expected to increase at a rapid pace during next few years.
CLT is used in a wide range of residential and non-residential construction applications such as education institutes, government and public buildings and commercial spaces, etc. On a regional basis, US and Canada represent the major regions in the North America CLT market. Some of the key players operating in the market include Structurlam, Nordic Engineered Wood, SmartLam and Sterling Lumber.
The report by IMARC Group has examined the North America Cross Laminated Timber market on the basis of:
- Educational Institute
- Government/ Public Building
- Commercial Space
- Nordic Engineered Wood
- Sterling Lumber
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