Australia and New Zealand CLT Market Trends, Industry Growth, Size and Forecast Till 2024

Australia and New Zealand CLT Market Research Report and Forecast 2024

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Australia and New Zealand CLT Market Overview: The latest report by IMARC Group, titled “Australia and New Zealand Cross Laminated Timber (CLT) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, estimated that the cross laminated timber market in Australia and New Zealand reached a volume of XX Cubic Meters and XX Cubic Meters, respectively. Cross-laminated timber (CLT) arrived in Australia and New Zealand later than in Europe and North America, and rapidly gained popularity within the engineering community. It is preferred across both the residential and non-residential sectors owing to its advantageous characteristics such as dimensional stability, versatility, strength, easy and faster installation, low greenhouse gas emissions, light weight, and aesthetic appearance. On account of growing environmental concerns, the demand for green buildings is increasing in Australia and New Zealand. In line with this, builders are focusing on better construction practices and opportunities for innovation with new materials and techniques as well as business strategies and industry transformation. CLT has been identified as one of the materials with prospects for contribution in all of these areas.

Australia and New Zealand CLT Market Drivers

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Due to these factors, the cross laminated timber market in Australia is projected to reach a volume of XX Cubic Meters by 2024, growing at a CAGR of XX% during 2019-2024. On the other hand, the New Zealand cross laminated timber market is projected to reach a volume of XX Cubic Meters by 2024, registering a CAGR of XX% over the forecast period.

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The eco-friendly nature of CLT makes it a promising alternative to concrete as a core construction material. Owing to this, the governments in Australia and New Zealand are encouraging consumers to shift towards wood panels. For instance, Tasmania has adopted a state-wide Wood Encouragement Policy (WEP), whereas, the Rotorua Lakes Council in New Zealand is encouraging the use of natural timber-based products in construction. As a result, the share of green-rated buildings is further anticipated to increase, thereby intensifying the demand for CLT in infrastructural constructions.

Moreover, technical advancements coupled with the aesthetic value of CLT has led several construction companies in Australian and New Zealand to build structures over 10 storeys in commercial spaces.

For more information, click here: https://www.imarcgroup.com/australia-newzealand-clt-market Key Market Segmentation: Market Segmentation by Application • • •

Detached Houses Residential Non-Residential Units

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In Australia, the CLT market has been segmented as detached houses, residential units and nonresidential units. Currently, non-residential units dominate the market, holding the largest share. This can be attributed to the growing preference for sustainable building materials like CLT which reduce freshwater consumption, enhance indoor environment quality and help in keeping the environment clean by generating zero waste during production.

In New Zealand, the market has been bifurcated into residential and commercial units. Amongst these, residential units exhibit a clear dominance as cross-laminated timber is better suited for multi-storey buildings.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • •

KLH StoraEnso Binderholz Xlam

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Cross Laminated Timber Market: https://www.imarcgroup.com/cross-laminated-timber-manufacturing-plant Japan Cross Laminated Timber (CLT) Market Report: https://www.imarcgroup.com/japan-cross-laminated-timber-market

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