Cross Laminated Timber Market Projected to Reach USD 4.1 Billion by 2032 | Rising Demand for Sustainable Construction Drives Market Expansion [Yahoo! Finance]
STORA ENSO OYJ ADR R SH (SEOAY)
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Source: Yahoo! Finance
Austin, Dec. 12, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “ The Cross Laminated Timber M arket is projected to reach a valuation of USD 4.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 14.8% from 2024 to 2032. ” Key Trends Fueling the Cross-Laminated Timber Market The rising emphasis on sustainable development is a major driver for the CLT market. Builders and architects are increasingly adopting CLT for its low carbon footprint, recyclability, and renewable nature. Governments and regulatory bodies worldwide are promoting using wood-based construction materials through incentives and certifications to meet climate goals. For instance, the European Union's Green Deal prioritizes using sustainable materials like CLT in urban construction projects. CLT is gaining traction across residential and non-residential sectors due to its versatility, durability, and strength. Residential buildings have been a primary adopter of CLT, particular
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