Cross Laminated Timber Market Projected To Reach USD 3.56 Billion By 2030
San Francisco, 30 June 2023: The Report Cross Laminated Timber Market Size, Share & Trends Analysis Report By Product (Adhesive Bonded CLT, Mechanically Fastened CLT), By Application (Residential, Institutional), By Region, And Segment Forecasts, 2023 - 2030 The global cross laminated timber market size is expected to reach USD 3.56 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.9% from 2023 to 2030. This growth can be attributed to the growing adoption of cross laminated timber, as solid wood construction of cross laminated timber has a high strength-to-weight ratio, making it superior for usage in structural flooring systems as it can withstand both, compressive and tensile stress and has an extremely high static load-carrying capability. Cross laminated timber market has been continuously witnessing expansion across the world. It is characterized by partnerships among major players to ensure their pro