IMARC Group’s latest report, titled “European Cross Laminated Timber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the European cross-laminated timber market reached a volume of around 725,000 Cubic Metres in 2016, growing at a CAGR of nearly 13% during 2009-2016. Cross-laminated timber refers to solid wood panels which are made up of several layers of dimension lumber oriented at right angles to one another and then glued to form structural panels. They are available in different panel thicknesses depending upon the structural requirements. The high demand for cross-laminated timber in the European region is due to its numerous benefits such as high strength, dimensional stability, rigidity, easy installation and design flexibility.
Highlights of the European Cross-Laminated Timber Market:
- A rise in the construction activities along with green building movements in Europe represent the primary growth driving factors.
- In terms of application, residential applications account for the majority of the market share.
- Austria holds the majority of the market share, representing the leading producer.
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Retrofitting of public buildings as well as renovation of residential complexes in Europe have been the key factors in catalyzing the demand for cross-laminated timber in the region. This along with the governments’ support for environment-friendly construction methods have been proactive in inducing the growth of the market. Further, growing population and the consequent rise in the construction activities in the region have highly contributed to the market growth. Some of the other drivers of the European cross-laminated timber market include changes in building codes, consistent marketing efforts, development of distribution channels and product approvals. According to the report, the market is further expected to reach a volume of around 1.2 Million Cubic Metres by 2022.
The market has been segmented on the basis of application. Currently, residential applications account for the majority of the global market share. On the basis of country, Austria represents the leading producer of cross-laminated timber, accounting for the majority of the total share. The other major markets include Germany, Italy, Switzerland, Czech Republic, Spain, Norway and Sweden, and the United Kingdom. Some of the key players operating in the market are Storaenso, KLH, Merk timber, Binderholz and MayrMelnhof.
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The report has examined the European cross-laminated timber market on the basis of:
- Educational Institutes
- Government Buildings
- Commercial Space
- Czech Republic
- Norway and Sweden
- United Kingdom
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