The Australia and New Zealand cross-laminated timber (CLT) market reached a volume of XX Cubic Meters. Looking forward, the market to grow at a CAGR of XX% during the forecast period (2021-2026)., according to a new report by IMARC Group.
Cross-laminated timber (CLT) is a prefabricated wood panel that is manufactured by gluing multiple layers of solid-sawn lumber together. These layers are stacked at a perpendicular angle to provide structural rigidity and increase the splitting resistance of the product. CLT is flexible, light in weight, cost-effective, offers high strength, and has a low environmental impact. As a result, it is replacing conventional construction materials, such as steel and cement, in Australia and New Zealand for constructing high-rise buildings, bridges, parking structures and pavilions.
Massive timber construction, in confluence with the rising demand for green buildings, is driving the cross-laminated timber market growth in Australia and New Zealand. In addition to this, owing to the dimensional stability, versatility, strength, and secure and faster installation of CLT, it is increasingly being used in the non-residential construction of storage facilities and factories in the region. Moreover, technological advancements, such as the introduction of computer-controlled machining equipment to facilitate the prefabrication of wooden building components, are impelling the market growth. Besides this, the Wood Encouragement Policy (WEP) initiated by the Government of Australia is promoting the utilization of timber in the country, which in turn is catalyzing the demand for the CLT in the country.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Australia and New Zealand Cross Laminated Timber Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these players are:
Stora Enso Oyj
KLH Massivholz GmbH
XLam Australia Pty Ltd./NZ Ltd.
For more information about this report visit: https://www.imarcgroup.com/australia-newzealand-clt-market
Market Breakup by Application
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