Robust Growth Forecast For Cross Laminated Timber

The cross laminated timber (CLT) market is forecast to have strong growth through 2028, reaching US$2.99 billion in 2028. This represents a compound annual growth rate (CAGR) 14.17 per cent from 2022 to 2028, says a report by Stratview Research. Growing awareness about the environmental hazards caused by the use of cement concrete in infrastructure construction coupled with the increasing number of CLT manufacturers and surge in demand for green homes are some of the main drivers of growth. Furthermore, supportive government initiatives around the world accompanying the shift from concrete-based construction to wood-based construction are positively impacting the market.