Cross Laminated Timber Market: Industry Demand, Analysis and Future Trends 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 profitability and competitiveness in the market. For instance, in 2020, Stora Enso Oyj announced an investment worth USD 96.1 million in a new production line for manufacturing cross laminated timber at its sawmill in Ždírec, the Czech Republic. The investment is expected to enhance the market positioning of the company as a global provider of cross laminated timber panels and wooden products.

The cross laminated timber market is strengthened by technological advances, new prefabrication systems, and a series of processes that increase its sustainability, safety, and efficiency. Methodologies and tools, including virtual reality, BIM, and 3D printing and modeling have intertwined the design and construction process. Acton Ostry Architects & Hermann Kaufmann Architekten designed the UBC Tallwood House at Brock Commons project using the BIM tool and technologies provided by CadMakers.

Growing environmental concerns regarding carbon emissions have promoted the use of CLT for commercial purposes in recent times. In addition, the cost advantages offered by CLT have further promoted its demand. The aesthetic appearance and stylish designs are attracting the attention of consumers and driving the growth of the market for residential construction.

The rising investments and continuous R&D in cross laminated timber (CLT) panels have led to the introduction of mechanically fastened CLT and adhesive-bonded CLT. Moreover, size, dimension, and customization options offered by manufacturers have contributed to higher product demand in the applications industries. The cross laminated timber panels are manufactured in line with the demand of the customers. As a result, manufacturers have begun integrating the production facility for end-to-end processes such as designing, measuring, and on-site delivery for expert consultation in the construction project.

Related Press Release@ Cross Laminated Timber Market Report

Cross Laminated Timber Market Report Highlights

• The adhesive bonded Cross Laminated Timber (CLT) segment accounted for the highest revenue share of 88.2% in 2022 due to its well-developed traditional market in Europe and North America, and the high strength of adhesives used for the bonding of planks. The manufacturing cost of adhesive bonded cross laminated timber is less as compared to mechanically fastened cross laminated timber, owing to less usage of machinery. In addition, the adhesive-bonded cross laminated timber panels can be converted to biofuel pellets at the end of their life cycle
• The residential application segment led the cross laminated timber market in 2022 and is expected to expand at a CAGR of 15.2% over the forecast period 2023-2030, owing to the rising residential construction globally owing low-interest rates on housing loans and government initiative for the development of residential apartments
• Europe is expected to dominate the regional market for cross laminated timber and accounted for a CAGR of 14.6%, owing to the growth of residential construction activities in the region. Germany is one of the largest manufacturing destinations globally for automobiles, chemicals, fast-moving consumer goods (FLCGs), food & beverages, and pharmaceuticals. As a result, the companies dealing in the above mentioned products have established their commercial offices and manufacturing units in the country. This is projected to offer vast application scope for cross laminated timber in new establishments in Germany
• Governments in several countries, such as Qatar, UAE, and Lebanon, are greatly emphasizing sustainability and have created various green building rating systems for the incorporation of environmental aspects in the modern construction industry. For instance, as per Qatar’s global Sustainability Assessment System (GSAS), the country is promoting the usage of eco-friendly materials for construction as a substitute for traditional materials, thus driving the market growth of cross laminated timber market
• The market players focus on gaining various constructional projects in institutional and industrial construction, replacing concrete as a primary building material to gain a competitive advantage. Small-scale players in the market are also adopting such strategies to increase their penetration in the market

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Cross Laminated Timber Market Segmentation

Grand View Research has segmented the global cross laminated timber market report based on product, application, and region:

Cross Laminated Timber (CLT) Product Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2018 - 2030)

• Adhesive Bonded CLT
• Mechanically Fastened CLT

Cross Laminated Timber (CLT) Application Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2018 - 2030)

• Residential
• Institutional
• Commercial
• Others

Cross Laminated Timber (CLT) Regional Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Austria
• Germany
• Switzerland
• Italy
• Asia Pacific
• New Zealand
• China
• Japan
• Australia
• Central & South America
• Middle East & Africa

List of Key Players of Cross Laminated Timber (CLT) Market

• Stora Enso Oyj
• Mayr-MelnhofHolz Holding AG
• Binderholz GmbH
• XLam
• Sterling Company
• SchilligerHolz AG
• KLH Massivholz GmbH
• B&K Structures
• Eugen Decker & WebMan
• Structurlam Mass Timber Corporation
• SmartLam NA
• MEIKEN LAMWOOD Corp

 About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Silicone Sealants Market Size To Reach $6.07 Billion By 2030

The global Silicone Sealants Market size is expected to reach USD 6.07 billion by 2030, registering at a 6.0%, as per the new report by Grand View Research, Inc. The increasing construction activities across the globe, along with the growing demand for insulated glass due to rising concerns over energy consumption, are anticipated to drive market growth.

The construction industry was the major end-user of silicone sealants in 2018 and this trend is expected to continue over the forecast period. The various benefits of the product such as the ability to withstand high & low temperatures, insulation, durability, aesthetic finish, water and chemical resistance, etc., increase their preference over other adhesives & sealants. Growing infrastructural developments across the world, especially in developing economies are anticipated to drive market growth.

The market is segmented based on four technologies, out of which room temperature vulcanizing (RTV) held the largest share in 2022. RTV silicone sealants are extensively used in a wide range of applications and are gaining popularity in electronics. For instance, their usage in the assembly process of the automotive industry helps in removing the need for pre-cut fixed gaskets, reduces the use of screws, protects against vibrations, and prevents water penetration.

Furthermore, automotive applications are expected to witness sluggish growth owing to the growing use of adhesives. However, the penetration of pressure-sensitive sealants in the automotive industry is expected to grow substantially on account of the less pressure required to bind to the substrate and their improved adhesion properties. Industrial application is expected to witness steady growth owing to initiatives undertaken by the governments of emerging economies to promote manufacturing in the countries. The use of silicone sealants is expected to grow in other applications such as cosmetics, home appliances, electronic devices, and others over the forecast period.

Related Press Release@ Silicone Sealants Market Report

Silicone Sealants Market Report Highlights

• Thermoset or heat cured is estimated to be the fastest growing application, in terms of volume, with a CAGR of 5.8% from 2023 to 2030
• In terms of volume, the automotive application segment is expected to grow at a CAGR of 5.4% during the forecast period, owing to the increasing use of silicone sealants in automotive electronics
• Construction application segment accounted for a revenue share of 60.2% in 2022, considering the increasing global construction output
• The room temperature vulcanizing (RTV) segment held a revenue share of 65.1% in 2022. The share is attributable to its increasing demand in applications where high heat resistance is required
• The players in the silicone sealants industry are integrated across various stages of the value chain. For instance, Wacker Chemie AG is a raw material supplier, manufacturer, and distributor of various silicone sealant products

Silicone Sealants Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 4.03 billion
Revenue forecast in 2030	USD 6.07 billion
Growth rate	CAGR of 6.0% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

 

Silicone Sealants Market Segmentation

Grand View Research has segmented the global silicone sealants market based on technology, application, and region:

Silicone Sealants Technology Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• Room Temperature Vulcanizing (RTV)
• Thermoset Or Heat Cured
• Radiation Cured
• Pressure Sensitive

Silicone Sealants Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• Construction
• Insulating Glass
• Automotive
• Industrial
• Others

Silicone Sealants Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• North America

• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Middle East & Africa

List of Key Players in the Silicone Sealants Market

• Dow
• Shin-Etsu Chemical Company
• Wacker Chemie AG
• 3M
• Tremco Incorporated
• Bostik
• Sika AG
• Henkel Corporation
• Huntsman International LLC
• H.B. Fuller
• Mapei

 About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Silicone Elastomer Market Size is Predicted to Witness 10.3% CAGR till 2030

 

The global Silicone Elastomer Market size is expected to reach USD 12.6 billion by 2030, registering a CAGR of 10.3% over the forecast period, according to a new study by Grand View Research, Inc. Superior quality over conventional elastomers makes it ideal for industrial usage, thereby positively affecting the overall industry. End-use industries, such as construction, automotive, and electrical & electronics, are expected to witness rapid growth over the forecast period. Silicone elastomers are widely used in the medical and healthcare industries. Silicone elastomers have quickly acquired popularity in the medical and healthcare industries, from medical equipment to drug delivery systems. Favorable features, such as inertness, high permeability, ease of processing, and low toxicity contribute to this acceptability.

With a rising population, the medical sector has been under immense pressure to meet the rising healthcare demand. Moreover, the aging population in certain countries of the world, such as North America, is expected to put a burden on the medical and healthcare business throughout the projection period. Construction was a dominant application segment in 2022. It was followed by the automotive and electrical & electronics segments, which held 23.8% and 13.8% shares, respectively, in the same year. The electrical & electronics segment is expected to grow at the fastest CAGR from 2023 to 2030. The electronics end-use segment is expected to witness a significant growth rate during the forecast period. Silicone elastomer is used to enclose electronic components to increase their stability against vibration, shock, and radiation.

Thus, it helps enhance durability, thereby, boosting the overall performance of the device under extreme conditions, such as zero gravity and low-pressure areas. Factors, such as expanding population, increasing disposable income of the middle-class population, and digitalization are creating significant growth opportunities for the electronics industry. This, in turn, is expected to boost product demand over the forecast period. Key companies are constantly engaged in mergers & acquisitions, developing new products, and other techniques to enhance their market share. For instance, in November 2021, Momentive Performance Materials Inc. acquired KCC Corp.’s silicone business in the U.K. and Korea as well as the sales operations in China. This agreement will enable Momentive Performance Materials Inc. to further expand its global footprint across advanced silicones.

List Of Key Players Of Silicone Elastomer Market

• China National BlueStar (Group) Co., Ltd.
• Dow Corning Corporation
• KCC Corporation
• Mesgo S.P.A.
• Momentive Performance Materials Inc.
• Shin-Etsu Chemical Co., Ltd.
• Reiss Manufacturing Inc.
• Wacker Chemie AG
• Zhejiang Xinan Chemical Industrial Group Co., Ltd.
• Stockwell Elastomerics
• Specialty Silicone Products, Inc.

Related Press Release@ Silicone Elastomers Market Report

Silicone Elastomer Market Report Highlights

• In 2022, Asia Pacific was the largest revenue-generating region due to rapidly growing economies, such as India, China, and South Korea
• Moreover, leading players are shifting their manufacturing bases to Asia Pacific on account of the availability of cheap labor. This is expected to drive the regional market during the forecast period
• Liquid Silicone Rubber (LSR) was the largest product segment in 2022 and is anticipated to expand further at a steady CAGR retaining the dominant position throughout the forecast period
• LSR uses only additive curing with platinum and is compatible with temperatures ranging from -60°C to 250°C, owing to which, it is widely used in the production of complex and small-size elastomeric parts for automotive & medical devices
• In March 2022, Shin-Etsu Chemical Co., Ltd. developed a new vulcanization type of one-component LSR under the recently introduced KCP series product line. The new product is superior in vulcanization attributes and safety

Silicone Elastomer Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 6.34 billion
Revenue forecast in 2030	USD 12.6 billion
Growth rate	CAGR of 10.3% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

Silicone Elastomer Market Segmentation

Grand View Research has segmented the global silicone elastomer market report based on product, application, and region:

Silicone Elastomer Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• High-temperature Vulcanize (HTV)
• Room-temperature Vulcanize (RTV)
• Liquid Silicone Rubber (LSR)

Silicone Elastomer Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Electrical & Electronics
• Automotive & Transportation
• Industrial Machinery
• Consumer Goods
• Construction
• Others

Silicone Elastomer Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Europe
• Germany
• France
• U.K.
• Italy
• Asia Pacific
• China
• India
• Japan
• South Korea
• Central & South America
• Brazil
• Middle East & Africa

Silicon Carbide Market: Industry Demand, Analysis and Future Trends 2030

 

The global Silicon Carbide Market size is expected to reach USD 7.98 billion by 2030, registering a CAGR of 11.7% according to a new report by Grand View Research, Inc. The rising prominence of silicon carbide in the production of Single-crystal SiC wafers is projected to aid the market growth over the forecast period. In the last few years, the consumption of single-crystal SiC wafers increased significantly, especially to manufacture electronic chips in the semiconductor industry. The increasing need to produce compact and right design electronic devices is projected to further push the product demand in the semiconductors industry. These single-crystal wafers offer limited power loss in the form of heat owing to the reduced leakage currents and wide-bandgap. Moreover, the SiC-based wafers are equipped to handle 10 times more voltage than their counterpart materials.

The rising usage of SiC-based chips in the electronic section of Electric Vehicles (EVs) is anticipated to positively influence the dynamics of the industry over the forecast period. The prominent EV manufacturers, including Tesla, use SiC-based chips in their vehicles. As per the recent news, Tesla is establishing its new EV manufacturing in India. Such new investments are likely to provide opportunities for the growth of the market of SiC and its associated products over the predicted timeline. The organic and inorganic growth strategies adopted by key players in the semiconductor industry are also likely to support the growth of the market. For instance, in January 2019, Cree, Inc., signed a long-term agreement to supply SiC wafers to STMicroelectronics. The adoption of SiC power devices in electronics, renewable energy systems, and automotive has increased tremendously over the last few years and is anticipated to gain additional thrust over the coming years.

Related Press Release@ Silicon Carbide Market Report

List of Key Players in the Silicon Carbide Market

• AGSCO Corporation
• Carborundum Universal Limited
• Washington Mills
• Coorstek
• Entegris, Inc.
• ESD-SIC b.v.
• Snam Abrasives Pvt. Ltd.
• Gaddis Engineered Materials
• Grindwell Norton Ltd.
• SK siltron Co.,Ltd.

Silicon Carbide Market Report Highlights

• The black SiC product segment is projected to dominate the overall market, in terms of volume as well as revenue, by 2030
• The healthcare segment is anticipated to register the fastest CAGR over the forecast period. The segment is projected to observe a significant CAGR, in terms of revenue, from 2023 to 2030
• Post-pandemic era is likely to observe higher spending on healthcare infrastructure across the globe, thereby supporting the segment growth
• Steel is projected to remain a key consuming application segment in the industry. The development, in terms of overall crude steel production, in 2022 is likely to aid the segment growth in the near future
• Asia Pacific is expected to remain a dominant regional market over the forecast period owing to the presence of major steel-manufacturing countries in the region

Silicon Carbide Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 3.68 billion
Revenue forecast in 2030	USD 7.98 billion
Growth Rate	CAGR of 11.7% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

 

Silicon Carbide Market Segmentation

Grand View Research has segmented the silicon carbide market on the basis of product, application, and region:

Silicon Carbide Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Black Silicon Carbide
• Green Silicon Carbide

Silicon Carbide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Steel
• Automotive
• Aerospace
• Military & Defense
• Electrical & Electronics
• Healthcare
• Others

Silicon Carbide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Europe
• Germany
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa (MEA)

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com