CLT market growing fast
Cross‑laminated timber (CLT) is forecast to grow at an 8.4% CAGR through 2032 — a signal that engineered mass timber is expanding in residential and nonresidential construction. That growth matters if you’re planning big structural projects or exploring sustainable framing options for additions and outbuildings. (openpr.com)
Market estimates diverge: Global Market Insights put the CLT market at about $1.3 billion in 2023 and projects roughly an 8.2% CAGR through 2032. (gminsights.com) Another independent forecast from Credence Research projects a much steeper trajectory, estimating growth from about $1.16 billion in 2024 to roughly $4.02 billion by 2032 for a 16.8% CAGR. (credenceresearch.com) Allied Market Research reports the sector was valued at $1.57 billion in 2020 and forecasts it reaching $3.73 billion by 2032, while identifying Europe as the largest market and North America as the fastest-growing region. (alliedmarketresearch.com) Code changes are shifting feasibility: the ICC approved tall mass‑timber provisions for the 2021 IBC and associated guidance has been released to integrate mass timber into tall‑building design. (iccsafe.org) Built examples are scaling up demand—Ascent in Milwaukee is a 25‑story, 493,000‑square‑foot mixed‑use tower with 259 apartments that was certified as the world’s tallest mass‑timber structure on completion. (thorntontomasetti.com) Supply capacity is following: Timberlab and partners are developing roughly a 190,000‑square‑foot CLT manufacturing facility in Millersburg, Oregon, announced with state and USDA support. (woodandpanel.com) Global suppliers concentrated production: major CLT manufacturers named in market reports include Stora Enso, Binderholz, KLH Massivholz, Structurlam and Nordic Structures, which together shape panel availability and pricing. (expertmarketresearch.com)
