FEA Says Global Nominal CLT Capacity Expected to Reach 6.8 Million m³ by 2024

Global nominal CLT capacity is expected to reach 6.8 million m³ (≈ 5.5 billion board feet) by 2024, FEA’s Art Schmon said in his new 2020Q3 Global Mass Timber Forecast.

More than 95% of the capacity will be in Europe and North America. The growth in both capacity and demand in North America was exponential before the pandemic and will be again afterward—spurred on by friendly building codes, the backing of regional governments, advances in building platforms and “kits of parts,” new digital technologies, and growing concern over the environment. Moreover, the growth in capacity and demand is no longer confined to the west coast; it is spreading eastward, and Schmon believes this trend will continue. He expects annual growth in CLT production capacity to average 34% through 2024.

This is an excerpt from FEA’s Global Mass Timber Panel Service.