The global cross-laminated timber (CLT) market size reached US $1.586 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2032, exhibiting a growth rate (CAGR) of 9.6% during 2024-2032. Europe leads the market, accounting for the largest cross-laminated timber market share. Residential use accounts for the majority of the market share in the application segment due to the need for affordable and environmentally friendly housing options. Spruce remains the leading raw material in CLT. Wall panels remain a dominant segment in the market, as they offer superior insulation, structural integrity, and installation speed, which makes them perfect for a range of construction projects.
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