North American cross-laminated timber to surge by 2032
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DUBLIN — The "North America Cross-Laminated Timber Market Report 2024-2032" has been included in the offerings of ResearchAndMarkets.com

The North American cross-laminated timber market size was valued at US$ 179.4 million in 2023. Projections indicate the market will reach US$ 655.6 million by 2032, demonstrating a compound annual growth rate (CAGR) of 15.5% from 2023 to 2032.

Key factors driving market growth include the rising demand for sustainable construction materials, advancements in architectural innovation and design flexibility, and significant improvements in wood processing technologies. These advancements, coupled with the development of engineered wood products that enable faster construction and cost savings, are critical drivers of market expansion.

Leading market players are increasing their production capacities to meet the growing demand for cross-laminated timber products. Efforts include constructing new manufacturing facilities and retrofitting existing ones to boost efficiency and output. Companies are also heavily investing in research and development to produce innovative cross-laminated timber products.

New developments include thicker panels, fire-resistant cross-laminated timber, and acoustic cross-laminated timber, which cater to diverse construction needs. Top companies emphasize their sustainability credentials by sourcing timber from sustainable forests, optimizing production processes to minimize waste, and obtaining relevant certifications.

Cross-laminated timber, a versatile and sustainable building material, consists of layers of wood panels stacked perpendicularly and bonded with adhesives. This material is eco-friendly, renewable, and boasts a lower carbon footprint compared to concrete and steel, positioning it as a key component in sustainable construction. It supports heavy loads and offers excellent structural performance. Additionally, its acoustic qualities enhance interior comfort, increasing its demand in North America.

The market's growth in North America is further driven by the rising use of cross-laminated timber in the construction of pedestrian and vehicular bridges, attributed to its durability and load-bearing capabilities. Moreover, innovative construction solutions addressing limited space and infrastructure challenges contribute to market expansion. Sustainable urban planning and the promotion of green buildings also provide a favorable market outlook.

Technological advancements in wood processing and the development of engineered wood products enhance faster construction, cost savings, and improved thermal performance, thereby supporting market growth. Additionally, growing awareness of cross-laminated timber's benefits, such as reduced construction time, lower labor costs, and superior seismic resistance, strengthens the market's position in North America.

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About the author
Dakota Smith | Editorial Intern

Dakota Smith is an undergraduate student at New Jersey City University studying English and Creative Writing. He is a writer at heart, and a cook by trade. His career goal is to become an author. At Woodworking Network, Dakota is an editorial intern, ready to dive into the world of woods and words.