The Australia and New Zealand Cross Laminated Timber (CLT) market is currently at a nascent stage. This market is expected to exhibit strong growth in the next five years with a number of residential and non-residential CLT projects in the pipeline. Source: Timberbiz
The Australia and New Zealand Cross Laminated Timber (CLT) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023 report is now available as part of ResearchAndMarkets.com’s list of reports.
In Australia and New Zealand, the continuous population growth has created an increasing demand for residential and non-residential construction, thereby catalysing the cross laminated timber market in the region.
In recent years, cross laminated timber has gained popularity in New Zealand as it is a cost-effective and environment-friendly building material which is utilized as shear walls, and roof and floor diaphragms in residential and commercial buildings.
In Australia, the demand for cross-laminated timber is being spurred by the Wood Encouragement Policy initiated by the Government. The policy aims to educate architects and industry professionals about the benefits of cross laminated timber so as to promote the local wood or timber industry as well as encourage the use of sustainable building materials.
Apart from this, the increasing non-residential construction for storage facilities, factories, etc. in both Australia and New Zealand has triggered the market growth. Some of the other factors facilitating the growth of the market are simple and accelerated on-site construction process, reduced costs for contractors and end-clients, and numerous benefits including design flexibility, less weight and structural capability.
On a regional basis, Australia represents a significantly bigger market compared with New Zealand.
For more information about this report visit www.researchandmarkets.com/research/fk6zg5/australia_and_new?w=4
