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Cross Laminated Timber Market worth $2.6 billion by 2028 – Exclusive Report by MarketsandMarkets™

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The report Cross Laminated Timber Market by Type (Adhesive Bonded, and Mechanically Fastened), Industry (Residential, and Non-residential), End Use (Structural, and Non-structural), & Region (North AmericaEurope, APAC, South America, MEA) – Global Forecast to 2028″, size is projected to grow from USD 1.4 billion in 2023 to USD 2.6 billion by 2028, at a CAGR of 13.7%. The rapid growth of the housing & construction sector, increasing gross domestic product (GDP), growing urbanization, and increasing disposable income drives the cross laminated timber market. The cross laminated timber market is divided into five key regions: North AmericaEuropeAsia Pacific, the Middle East & Africa, and South America. US and Canada, among other countries, are leading the cross laminated timber market globally.

Browse in-depth TOC on “Cross Laminated Timber Market” 
180 – Tables 
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Adhesive Bonded segment is expected to account for the largest share in 2023.

The use of structural adhesives or glues has been one of the most significant technological advances in modern engineered wood building. These chemical bonding agents have assisted in the formation of structural goods that have low mass, high tensile strength, and minimum expansion and contraction owing to moisture retention. The adhesives used for bonding engineered wood have diverse chemical properties and are chosen depending on the end product’s specific needs. This is also the standard for CLT and LVL manufacture (Laminated Veneer Lumber).

Non-residential segment is expected to account for the largest share in 2023.

Cross-Laminated Timber (CLT) is used in the non-residential sector due to its many benefits. CLT can be used not only as load-bearing panels for walls, floors, and roofs but also for shear walls. CLT is structurally viable and can result in faster, less expensive projects that ultimately enhance the tenant experience. Additionally, CLT is a sustainable building material that can store carbon during the building’s lifetime and even capture additional carbon. Furthermore, using CLT during construction of non-residential buildings can result in several possible advantages such as reduced construction time and cost. Therefore, CLT is an attractive option for non-residential construction due to its structural integrity, sustainability, and cost-effectiveness.

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Europe is expected to account for the largest share in 2023.

The major drivers for this market are the increase in awareness regarding the importance of cross laminated timber as well as rising industrialization in the region after the economic slowdown. The European region has the highest number of manufacturers of cross laminated timber and is currently leading in production due to the presence of major manufacturers such as Mayr-Melnhof Holz. Due to the adoption of strategies such as mergers & acquisitions and investments & acquisitions, further advancements in the market are expected. Cross laminated timber itself has been in use for decades, particularly in this region. Interest in the material is surging along with concern about the greenhouse-gas emissions associated with concrete and steel. The production of construction materials such as steel, cement, and glass accounts for 10% of global energy-related CO2 emissions, according to a United Nations report. Cross-laminated timber and other engineered wood products, on the other hand, can improve the environment in three ways: trees collect and store carbon as they develop; long-lived wood products lock in carbon; and these goods may be utilized in many circumstances instead of high-impact materials like concrete.

Major players operating in the cross laminated timber include Mayr-Melnhof Holz (Austria), Stora Enso (Finland), Binderholz GmbH (Austria), Eugen Decker Holzindustrie KG (Germany), Hasslacher Holding GmbH (Austria), Schilliger Holz AG (Switzerland), KLH Massivholz GmbH (Austria), Structurlam Mass Timber Corporation (Canada), XLam NZ Limited (New Zealand), and others.

Artificial Intelligence

CGTN: 3rd CMG Forum in Beijing discusses AI development

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BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.

Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
https://news.cgtn.com/news/2024-04-30/3rd-CMG-Forum-in-Beijing-discusses-AI-development-1tdDcXvCexG/p.html

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Trianz Appoints Sridhar Kannan as Practice Leader – Digital, Elevating its Leadership in the Global Digital Transformation Space

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SANTA CLARA, Calif., May 1, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Sridhar Kannan as Practice Leader – Digital. With over 25 years of extensive experience in technology and business leadership, Sridhar joins Trianz to lead the expansion of Trianz’s Digital Practice, forging strategic alliances and expanding the business footprint.

Sridhar’s appointment comes at a transformative phase for Trianz as it solidifies its commitment to redefining the digital landscape with an “IP Led” model. This strategic shift is powered by Trianz’s cutting-edge hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace. Sridhar’s visionary leadership in technology-led business transformations across diverse sectors will be instrumental in leveraging IP-led models and innovative methodologies to position Trianz at the forefront of digital transformation.
“We are thrilled to welcome Sridhar Kannan to the Trianz family,” said Seshi Vanguru, Chief Revenue Officer at Trianz. “His appointment marks a significant stride in Trianz’s journey toward innovation and excellence. Sridhar’s wealth of experience and exceptional leadership skills will elevate our Digital Practice to new heights, reaffirming our commitment to delivering exceptional value to our clients.”
Sridhar is recognized as a client-focused technology and business transformation executive with a remarkable track record of helping Banking and Financial Services organizations in business transformation and product innovation using applications, cloud, data, and digital solutions. His extensive prior experience at industry giants such as Wipro, Cognizant, and Infosys include successfully leading Fortune 10 global client relationships and implementing transformative solutions across Banking, Financial Services, and Healthcare industries. Sridhar is highly regarded for his ability to lead global cross-functional teams, foster collaboration, and achieve aggressive business goals while consistently delivering high levels of client satisfaction.
“I am deeply honored to join Trianz and contribute to its mission of shaping the future through digital transformation,” said Sridhar. “Together, we will push the boundaries of what’s possible and drive meaningful impact for our clients in this rapidly evolving digital landscape.”
Based out of Minnesota, US, Sridhar has steered numerous clients towards success through the strategic application of Digital, Cloud, Product Engineering, Data, AI, and Application services, making him a seasoned strategist in today’s dynamic digital landscape. His appointment marks a significant milestone in Trianz’s journey to nurturing talent and delivering world-class solutions.
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our “IP Led Transformations” approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media Team : [email protected]+1-408-387-5800
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2024 World Digital Health Forum: AI at the Forefront of Healthcare Innovation

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BEIJING, May 1, 2024 /PRNewswire/ — Hosted by Tsinghua University and its partners, the 2024 World Digital Health Forum emerged as a cornerstone of the ZGC Forum’s AI Theme Day. Held in Beijing’s tech-centric Haidian District, this event attracted over 700,000 online attendees from around the globe. The forum was a collaboration with the Haidian District People’s Government, the Chinese Institute of Electronics, Tsinghua University School of Clinical Medicine, and the China Association for the Promotion of Science and Technology Industrialization, highlighting pioneering innovations and fostering global partnerships to enhance patient well-being.

The Forum showcased an impressive lineup of speakers, each contributing unique insights into the evolving digital health landscape. Notable among them were Dong Jiahong, President of the Academic Committee at Tsinghua University School of Clinical Medicine, and Andrew Chi-Chih Yao, Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University and the recipient of the 2000 Turing Award. Speeches from Mustafa Shehu, President of the World Federation of Engineering Organizations, and Martin Taylor, WHO Representative in China, enriched the overall perspectives presented at the Forum. Attended by 19 academicians and 70 deans, the event spurred extensive discussions on the future of healthcare in an era increasingly shaped by AI.
A highlight of the Forum was the release of the “Tsinghua Urban Health Index,” which provides a comprehensive assessment of health services across 296 Chinese cities, establishing a new benchmark in health metrics to aid governmental and regional health planning. In addition, the “World Digital Health Forum Declaration” was ratified, laying down a robust framework for universal access to healthcare, and underscoring the importance of collaboration, ethical standards, and innovation-driven changes in global healthcare practices.
The Principal’s Dialogue, a pivotal segment of the Forum, brought together leaders from premier universities to discuss advancing new productive forces and constructing a robust medical talent-cultivating system. During this session, Tsinghua University highlighted its plans to develop an integrated education system connecting hospitals, medical schools, and research institutions. This approach aims to nurture students who are not only skilled in interdisciplinary collaboration but also deeply grounded in humanistic values. The dialogue explored the transformative impact of AI and digital technologies in enhancing diagnostic accuracy and treatment efficacy. They particularly noted the potential for these technologies to enable real-time, remote medical guidance in regions with limited medical resources, enhancing a balanced healthcare delivery nationwide. Additionally, panelists stressed the importance of maintaining an ethical and patient-centric approach in developing and adopting digital health technologies. They advocated for dynamic systems that can adapt to the evolving needs of patients throughout their lifetimes.
The 2024 World Digital Health Forum facilitated high-level discussions and catalyzed future innovations in the digital health sphere. It aims to advance the digital health industry, integrate digital technologies with health and life sciences, and foster new developments in health careers. In doing so, it seeks to enhance global health outcomes and contribute to the collective well-being of communities globally.
Media Enquiries: 
Global Communication Office, [email protected]
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