he demand for cross laminated timber is primarily influenced by the demand trends in the building and construction, packaging industry, and in the growing economy.

Northbrook, IL 60062 -- (SBWire) -- 07/19/2023 --The report "Cross Laminated Timber Market by Type (Adhesive Bonded, and Mechanically Fastened), Industry (Residential, and Non-residential), End Use (Structural, and Non-structural), & Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2028",size is projected to grow from USD 1.4 billion in 2023 to USD 2.6 billion by 2028, at a CAGR of 13.7%. The rapid growth of the housing & construction sector, increasing gross domestic product (GDP), growing urbanization, and increasing disposable income drives the cross laminated timber market. The cross laminated timber market is divided into five key regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. US and Canada, among other countries, are leading the cross laminated timber market globally.

Browse in-depth TOC on "Cross Laminated Timber Market"
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Europe is projected to dominate the market in terms of value and volume during the forecast period. Europe is considered to be the world's largest manufacturer of cross laminated timber. Buildings made using cross laminated timber have a high demand throughout North America and Europe. To enhance the total thermal efficiency and durability of the structure, the majority of construction activities in these areas now use wood-based materials. Cross laminated timber and other timber building supplies have an increasing demand among major construction enterprises across the world.

The major players in the global cross laminated timber market are Mayr-Melnhof Holz (Austria), Stora Enso (Finland), Binderholz GmbH (Austria), Hasslacher Holding GmbH (Austria), and Schilliger Holz AG (Switzerland).

Stora Enso: Stora Enso produces and sells newspaper, book paper, magazine paper, fine paper, consumer board, industrial packaging, and wood products. Packaging Solutions, Biomaterials, Wood Products, Forest, Paper, and Miscellaneous are the segments under which it works. The Packaging Solutions business creates fiber-based packaging and is involved in all stages of the value chain, from pulp production to material and from package manufacture to recycling. The Biomaterials sector provides a variety of pulp grades to fulfill the needs of manufacturers of paper, board, tissue, textile, and hygiene products. The Wood division offers a wide range of wood-based building and housing solutions. Paper solutions for print media and office applications are provided by the Paper division.

- In May 2022, Stora Enso invests in ACDF Industrie SAS and becomes a 35% shareholder of the French wood processing company. The investment is in line with Stora Enso's growth strategy for mass timber building elements, enabling value-added, bespoke CLT (cross-laminated timber) solutions to its long-term French partners.

MAYR-MELNHOF HOLZ: Mayr-Melnhof Holz is one of Europe's largest and most prominent wood processing firms. It is a global leader in the glued laminated wood segment, as well as the driving force behind the advancement of cross-laminated timber, future construction, and material. It has around 2,216 employees in Austria, Germany, the Czech Republic, and Russia to transform the rich raw material into contemporary wood items. Apart from sawn timber, its timber construction manufacturing program comprises glulam ceiling, glulam flooring, duo/trio beams, cross laminated timber, wood-concrete composite parts, and concrete formwork technology.

- In December 2021, Mayr-Melnhof Holz Holding Firm entered an agreement to buy the Swedish sawmill group Bergkvist Siljan. This maintains the Austrian wood processing group's steady expansion and growth plan.

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