North America Cross-Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The North America cross-laminated timber market size reached US$ 152.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 400.2 Million by 2028, exhibiting a growth rate (CAGR) of 16.3% during 2023-2028.
Cross laminated timber (CLT) is an engineered wood product which was developed in Europe during the early 1990s. It is made by stacking layers of wood panel in alternating directions and bonding them with adhesives or fasteners. This arrangement helps in improving the strength, rigidity, dimensional stability and mechanical properties of the panels, and makes them suitable for load-bearing construction. In North America, CLT was first introduced during the early 2000s and, since then, its usage has gained momentum. It is now used either as a standalone system or in combination with other building materials in the construction of mid-rise and high-rise buildings for residential and commercial purposes.
As CLT is made from trees, it is renewable and sustainable in nature and helps in storing carbon from the environment. The manufacture, transportation and assembly of CLT also require lesser energy as compared to concrete, bricks, mortar, etc. Since the governments in the North American region are focusing on green building solutions, these factors are facilitating the applications of CLT in the construction industry. Moreover, as CLT is prefabricated and requires minimal installation time, it is more cost-efficient and easier to install as compared to other construction materials. It also offers design flexibility and has a certain aesthetic appeal, which have made it popular among interior designers and architects. Owing to these forces, the North America CLT market is expected to grow at a rapid pace during the next few years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America cross-laminated timber market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
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Residential
Educational Institutes
Government/Public Buildings
Commercial Space
Breakup by Region:
United States
Canada
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being D.R. Johnson Lumber Co., Nordic Structures, SmartLam NA, Sterling Lumber, StructureCraft. and Structurlam Mass Timber Corporation.
Key Questions Answered in This Report
1. What was the size of the North America cross-laminated timber market in 2022?
2. What is the expected growth rate of the North America cross-laminated timber market during 2023-2028?
3. What are the key factors driving the North America cross-laminated timber market?
4. What has been the impact of COVID-19 on the North America cross-laminated timber market?
5. What is the breakup of the North America cross-laminated timber market based on the application?
6. What are the key regions in the North America cross-laminated timber market?
7. Who are the key players/companies in the North America cross-laminated timber market?
The North America cross-laminated timber market size reached US$ 152.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 400.2 Million by 2028, exhibiting a growth rate (CAGR) of 16.3% during 2023-2028.
Cross laminated timber (CLT) is an engineered wood product which was developed in Europe during the early 1990s. It is made by stacking layers of wood panel in alternating directions and bonding them with adhesives or fasteners. This arrangement helps in improving the strength, rigidity, dimensional stability and mechanical properties of the panels, and makes them suitable for load-bearing construction. In North America, CLT was first introduced during the early 2000s and, since then, its usage has gained momentum. It is now used either as a standalone system or in combination with other building materials in the construction of mid-rise and high-rise buildings for residential and commercial purposes.
As CLT is made from trees, it is renewable and sustainable in nature and helps in storing carbon from the environment. The manufacture, transportation and assembly of CLT also require lesser energy as compared to concrete, bricks, mortar, etc. Since the governments in the North American region are focusing on green building solutions, these factors are facilitating the applications of CLT in the construction industry. Moreover, as CLT is prefabricated and requires minimal installation time, it is more cost-efficient and easier to install as compared to other construction materials. It also offers design flexibility and has a certain aesthetic appeal, which have made it popular among interior designers and architects. Owing to these forces, the North America CLT market is expected to grow at a rapid pace during the next few years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America cross-laminated timber market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
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Residential
Educational Institutes
Government/Public Buildings
Commercial Space
Breakup by Region:
United States
Canada
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being D.R. Johnson Lumber Co., Nordic Structures, SmartLam NA, Sterling Lumber, StructureCraft. and Structurlam Mass Timber Corporation.
Key Questions Answered in This Report
1. What was the size of the North America cross-laminated timber market in 2022?
2. What is the expected growth rate of the North America cross-laminated timber market during 2023-2028?
3. What are the key factors driving the North America cross-laminated timber market?
4. What has been the impact of COVID-19 on the North America cross-laminated timber market?
5. What is the breakup of the North America cross-laminated timber market based on the application?
6. What are the key regions in the North America cross-laminated timber market?
7. Who are the key players/companies in the North America cross-laminated timber market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 NORTH AMERICA CROSS LAMINATED TIMBER MARKET
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Market Forecast
6 MARKET BREAKUP BY APPLICATION
6.1 Residential
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Educational Institutes
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Government/ Public Buildings
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Commercial Space
6.4.1 Market Trends
6.4.2 Market Forecast
7 MARKET BREAKUP BY REGION
7.1 United States
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Canada
7.2.1 Market Trends
7.2.2 Market Forecast
8 SWOT ANALYSIS
8.1 Overview
8.2 Strengths
8.3 Weaknesses
8.4 Opportunities
8.5 Threats
9 VALUE CHAIN ANALYSIS
9.1 Overview
9.2 Forest Owner
9.3 Sawmills
9.4 Cross Laminated Timber Manufacturers
9.5 Distributors and Retailers
9.6 Exporters
9.7 End-Use Industries
10 PORTER’S FIVE FORCES ANALYSIS
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11 KEY MARKET DRIVERS AND SUCCESS FACTORS
12 PRICE INDICATORS
12.1 Key Price Indicators
12.2 Price Structure
12.3 Price Trends
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 Production Capacities of Key Players
19.3 Profiles of Key Players
19.3.1 D.R. Johnson Lumber Co.
19.3.2 Nordic Structures
19.3.3 SmartLam NA
19.3.4 Sterling Lumber
19.3.5 StructureCraft
19.3.6 Structurlam Mass Timber Corporation
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 NORTH AMERICA CROSS LAMINATED TIMBER MARKET
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Market Forecast
6 MARKET BREAKUP BY APPLICATION
6.1 Residential
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Educational Institutes
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Government/ Public Buildings
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Commercial Space
6.4.1 Market Trends
6.4.2 Market Forecast
7 MARKET BREAKUP BY REGION
7.1 United States
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Canada
7.2.1 Market Trends
7.2.2 Market Forecast
8 SWOT ANALYSIS
8.1 Overview
8.2 Strengths
8.3 Weaknesses
8.4 Opportunities
8.5 Threats
9 VALUE CHAIN ANALYSIS
9.1 Overview
9.2 Forest Owner
9.3 Sawmills
9.4 Cross Laminated Timber Manufacturers
9.5 Distributors and Retailers
9.6 Exporters
9.7 End-Use Industries
10 PORTER’S FIVE FORCES ANALYSIS
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11 KEY MARKET DRIVERS AND SUCCESS FACTORS
12 PRICE INDICATORS
12.1 Key Price Indicators
12.2 Price Structure
12.3 Price Trends
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 Production Capacities of Key Players
19.3 Profiles of Key Players
19.3.1 D.R. Johnson Lumber Co.
19.3.2 Nordic Structures
19.3.3 SmartLam NA
19.3.4 Sterling Lumber
19.3.5 StructureCraft
19.3.6 Structurlam Mass Timber Corporation
LIST OF TABLES
Table 1: North America: CLT Market: Key Industry Highlights, 2022 and 2028
Table 2: North America: CLT Market Forecast: Breakup by Application (in Cubic Metres), 2023-2028
Table 3: North America: CLT Market Forecast: Breakup by Region (in Cubic Metres), 2023-2028
Table 4: Quality Benefit Analysis: CLT over Concrete
Table 5: Cost Analysis: CLT over Concrete
Table 6: CLT Manufacturing Plant: Raw Material Requirements (in CBM/Day)
Table 7: CLT Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 8: CLT Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 9: CLT Manufacturing Plant: Machinery Costs (in US$)
Table 10: CLT Manufacturing Plant: Raw Material Requirements (in CBM/Day) and Expenditures (in US$/CBM)
Table 11: CLT Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 12: CLT Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 13: Details of Financial Assistance Offered by Financial Institutions
Table 14: CLT Manufacturing Plant: Capital Costs (in US$)
Table 15: CLT Manufacturing Plant: Techno-Economic Parameters
Table 16: CLT Manufacturing Plant: Income Projections (in US$)
Table 17: CLT Manufacturing Plant: Expenditure Projections (in US$)
Table 18: CLT Manufacturing Plant: Taxation (in US$)
Table 19: CLT Manufacturing Plant: Depreciation (in US$)
Table 20: CLT Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 21: CLT Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 22: CLT Manufacturing Plant: Profit and Loss Account (in US$)
Table 23: North America: CLT Market: Competitive Structure
Table 24: North America: Top CLT Producers with Annual Production Capacities
Table 1: North America: CLT Market: Key Industry Highlights, 2022 and 2028
Table 2: North America: CLT Market Forecast: Breakup by Application (in Cubic Metres), 2023-2028
Table 3: North America: CLT Market Forecast: Breakup by Region (in Cubic Metres), 2023-2028
Table 4: Quality Benefit Analysis: CLT over Concrete
Table 5: Cost Analysis: CLT over Concrete
Table 6: CLT Manufacturing Plant: Raw Material Requirements (in CBM/Day)
Table 7: CLT Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 8: CLT Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 9: CLT Manufacturing Plant: Machinery Costs (in US$)
Table 10: CLT Manufacturing Plant: Raw Material Requirements (in CBM/Day) and Expenditures (in US$/CBM)
Table 11: CLT Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 12: CLT Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 13: Details of Financial Assistance Offered by Financial Institutions
Table 14: CLT Manufacturing Plant: Capital Costs (in US$)
Table 15: CLT Manufacturing Plant: Techno-Economic Parameters
Table 16: CLT Manufacturing Plant: Income Projections (in US$)
Table 17: CLT Manufacturing Plant: Expenditure Projections (in US$)
Table 18: CLT Manufacturing Plant: Taxation (in US$)
Table 19: CLT Manufacturing Plant: Depreciation (in US$)
Table 20: CLT Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 21: CLT Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 22: CLT Manufacturing Plant: Profit and Loss Account (in US$)
Table 23: North America: CLT Market: Competitive Structure
Table 24: North America: Top CLT Producers with Annual Production Capacities
LIST OF FIGURES
Figure 1: North America: CLT Market: Major Drivers and Challenges
Figure 2: North America: CLT Market: Production Volume (in Cubic Metres), 2017-2022
Figure 3: North America: CLT Market: Production Value (in Million US$), 2017-2022
Figure 4: North America: CLT Market: Breakup by Application (in %), 2022
Figure 5: North America: CLT Market: Breakup by Region (in %), 2022
Figure 6: North America: CLT Market Forecast: Production Volume (in Cubic Metres), 2023-2028
Figure 7: North America: CLT Market Forecast: Production Value (in Million US$), 2023-2028
Figure 8: North America: CLT (Residential Sector) Market: Sales Volume (in Cubic Metres), 2017 & 2022
Figure 9: North America: CLT (Residential Sector) Market Forecast: Sales Volume (in Cubic Metres), 2023-2028
Figure 10: North America: CLT (Educational Institutes) Market: Sales Volume (in Cubic Metres), 2017 & 2022
Figure 11: North America: CLT (Educational Institutes) Market Forecast: Sales Volume (in Cubic Metres), 2023-2028
Figure 12: North America: CLT (Government/Public buildings) Market: Sales Volume (in Cubic Metres), 2017 & 2022
Figure 13: North America: CLT (Government/Public buildings) Market Forecast: Sales Volume (in Cubic Metres), 2023-2028
Figure 14: North America: CLT (Commercial Space) Market: Sales Volume (in Cubic Metres), 2017 & 2022
Figure 15: North America: CLT Market (Commercial Space) Forecast: Sales Volume (in Cubic Metres), 2023-2028
Figure 16: United States: CLT Market: Volume Trends (in Cubic Metres), 2017 & 2022
Figure 17: United States: CLT Market Forecast: Volume Trends (in Cubic Metres), 2023-2028
Figure 18: Canada: CLT Market: Volume Trends (in Cubic Metres), 2017 & 2022
Figure 19: Canada: CLT Market Forecast: Volume Trends (in Cubic Metres), 2023-2028
Figure 20: North America: CLT Industry: SWOT Analysis
Figure 21: North America: CLT Industry: Value Chain Analysis
Figure 22: North America: CLT Industry: Porter’s Five Forces Analysis
Figure 23: North America: Cross laminated Timber Market: Price Structure
Figure 24: North America: Cross laminated Timber Market: Average Prices (in US$/Cubic Metres), 2017-2028
Figure 25: Environmental Impact Comparison: CLT over Concrete
Figure 26: North America: CLT Industry: Five Storey Building Cost Comparison
Figure 27: CLT Manufacturing Plant: Detailed Process Flow
Figure 28: CLT Manufacturing Process: Conversion Rate of Products
Figure 29: CLT Manufacturing Plant: Proposed Plant Layout
Figure 30: CLT Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 31: CLT Industry: Margins Across Various Stages of the Supply Chain
Figure 32: CLT Production: Manufacturing Cost Breakup (in %)
Figure 1: North America: CLT Market: Major Drivers and Challenges
Figure 2: North America: CLT Market: Production Volume (in Cubic Metres), 2017-2022
Figure 3: North America: CLT Market: Production Value (in Million US$), 2017-2022
Figure 4: North America: CLT Market: Breakup by Application (in %), 2022
Figure 5: North America: CLT Market: Breakup by Region (in %), 2022
Figure 6: North America: CLT Market Forecast: Production Volume (in Cubic Metres), 2023-2028
Figure 7: North America: CLT Market Forecast: Production Value (in Million US$), 2023-2028
Figure 8: North America: CLT (Residential Sector) Market: Sales Volume (in Cubic Metres), 2017 & 2022
Figure 9: North America: CLT (Residential Sector) Market Forecast: Sales Volume (in Cubic Metres), 2023-2028
Figure 10: North America: CLT (Educational Institutes) Market: Sales Volume (in Cubic Metres), 2017 & 2022
Figure 11: North America: CLT (Educational Institutes) Market Forecast: Sales Volume (in Cubic Metres), 2023-2028
Figure 12: North America: CLT (Government/Public buildings) Market: Sales Volume (in Cubic Metres), 2017 & 2022
Figure 13: North America: CLT (Government/Public buildings) Market Forecast: Sales Volume (in Cubic Metres), 2023-2028
Figure 14: North America: CLT (Commercial Space) Market: Sales Volume (in Cubic Metres), 2017 & 2022
Figure 15: North America: CLT Market (Commercial Space) Forecast: Sales Volume (in Cubic Metres), 2023-2028
Figure 16: United States: CLT Market: Volume Trends (in Cubic Metres), 2017 & 2022
Figure 17: United States: CLT Market Forecast: Volume Trends (in Cubic Metres), 2023-2028
Figure 18: Canada: CLT Market: Volume Trends (in Cubic Metres), 2017 & 2022
Figure 19: Canada: CLT Market Forecast: Volume Trends (in Cubic Metres), 2023-2028
Figure 20: North America: CLT Industry: SWOT Analysis
Figure 21: North America: CLT Industry: Value Chain Analysis
Figure 22: North America: CLT Industry: Porter’s Five Forces Analysis
Figure 23: North America: Cross laminated Timber Market: Price Structure
Figure 24: North America: Cross laminated Timber Market: Average Prices (in US$/Cubic Metres), 2017-2028
Figure 25: Environmental Impact Comparison: CLT over Concrete
Figure 26: North America: CLT Industry: Five Storey Building Cost Comparison
Figure 27: CLT Manufacturing Plant: Detailed Process Flow
Figure 28: CLT Manufacturing Process: Conversion Rate of Products
Figure 29: CLT Manufacturing Plant: Proposed Plant Layout
Figure 30: CLT Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 31: CLT Industry: Margins Across Various Stages of the Supply Chain
Figure 32: CLT Production: Manufacturing Cost Breakup (in %)
