Cross-laminated timber (CLT) market expected to reach $3 billion in 2030

The CLT market is expected to triple from $1.11 billion in 2021 to $3.72 billion by 2030 because of its low-carbon and carbon sequestration characteristics, and flexibility in terms of design and faster installation processes as compared to other building materials.
In 2021, the residential segment accounted for the highest CLT market share, though commercial use is growing significantly in Europe and North America.
The CLT market is driven by numerous factors one of which is growing awareness about the environmental threats from the use of cement concrete in infrastructure construction.
The overall cost of CLT construction is decreasing due to the increasing number of suppliers and shorter construction times.

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