The global cross laminated timber (CLT) market depicts the presence of a highly fragmented and competitive vendor landscape, notes Transparency Market Research on the basis of a newly published report. Such an intense competition mainly exists thanks to the presence of innumerable players. Most companies are focusing on facilitating product differentiation and expanding their product portfolios in the global cross laminated timber (CLT) market. Nordic Structures, Mayr-Melnhof Holz Holding AG, Binderholz Bausysteme GmbH, Structurlam Mass Timber Corporation, Ed. Züblin AG, and Sterling Lumber Company, are key companies operating in the global cross laminated timber (CLT) market. The competition is likely to intensify with increasing number of players in the next few years. 

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As per expert analysts, the global cross laminated timber (CLT) market was valued at US$670.2 mn in 2016. This revenue is further expected to reach valuation of US$2332.1 mn by the end of 2025. Such a prolific growth is projected to occur at a spectacular CAGR of 15.1% during the forecast period ranging from 2017 to 2025. On the basis of product, the adhesive bonded CLT segment leads the global cross laminated timber (CLT) market. This is mainly due to a prolific rise in the number of residential buildings being constructed where such adhesive is used in high proportion. Region-wise, a strong competitive scenario in Europe made this region accumulate highest revenue in 2016 in the cross laminated timber (CLT) market. And this is expected to continue even in the near future.