The global cross-laminated timber (CLT) market to reach $2.5 billion by 2027 due to high consumer demand

CLT is an engineered wood product that includes layers of kiln-dried dimension lumber (3, 5, 7, or 9) oriented at right angles to one another and which are glued to form structural panels.
CLT has a low environmental impact and is a friendly option for other generally used building materials.
The CLT market size was $1.1 billion in 2021 and is likely to grow at a compound annual growth rate of 14.5% during the forecast period to reach $2.5bn by 2027.
Europe is considered the world’s biggest manufacturer of CLT due to high demand.
Europe is likely to monopolize the market in terms of value and volume during the forecast period due to the growing construction sector in countries such as the UK, Germany, Italy, and France.
For CLT, family residential construction is a major market because the development of building codes and technologies is moving the demand towards larger multi-family residential construction, by which consumer demand for upmarket residences is expected to grow, which will boost the overall market growth.

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