Overview and Scope
Building panels are high-performance building systems that are superior and cost-effective as they are easy to install, take less time and energy to create, reduce material waste, and offer spectacular insulation capabilities. The building panels construct a structure’s interior and exterior features.
Sizing and Forecast
The building panels market size has grown strongly in recent years. It will grow from $216.24 billion in 2023 to $230.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to market competition and innovation, consumer preferences for prefabricated homes, government incentives and grants, residential construction growth..
The building panels market size is expected to see strong growth in the next few years. It will grow to $299.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to sustainable construction practices, urbanization and population growth, stringent building regulations, energy efficiency concerns, cost-effectiveness.. Major trends in the forecast period include green building materials, modular construction, urbanization and population density, stringent building codes, stringent building codes..
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Segmentation & Regional Insights
The building panels market covered in this report is segmented –
1) By Panel Type: Precast Concrete Panels, Vacuum Insulated Panels, Structural Insulated Panels (SIP), Wood-Based Panels, Other Panel Type
2) By Material Type: Concrete, Plastics, Metal, Wood, Silica
3) By Application: Commercial Construction, Residential, Non-Residential
4) By End User: Floors And Roofs, Walls, Columns And Beams, Staircases
Asia-Pacific was the largest region in the building panels market in 2023. The regions covered in the building panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in construction activities is expected to propel the building panels market forward. Construction involves the action of building large structures by putting together materials. Building panel market expansion is aided by rising construction activity for both residential and non-residential structures. For instance, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development’s new residential construction data, in 2021, approximately 1,337,800 new residential housing construction units were built, a 4% increase from 2020. Therefore, the increasing construction activities will drive the building panels’ market growth.
Key Industry Players
Major companies operating in the building panels market report are Panasonic Corporation, Compagnie de Saint-Gobain SA, Nippon Steel & Sumitomo Metal Corporation, CRH plc., BMC Inc., Evonik Industries AG, Huntsman International LLC, Dow Corning Corporation, Fletcher Building Limited, Boral Limited, Armstrong World Industries Inc., Kingspan Group PLC, OCI Company Ltd, Lg Hausys Ltd, Mueller Inc, Owens Corning, PFB Corporation, Alubel SpA, Alumil Aluminium Industry SA, Alutech United Inc., ArcelorMittal, The Murus Company Inc., Rautaruukki Corporation, The Steel Network Inc., U.S. Lumber Group LLC, USG Corporation, VELUX Group, Weyerhaeuser Company, Xella Group, Sika AG, Tata Steel Limited, The Dow Chemical Company
The building panels market report table of contents includes:
1. Executive Summary
- Building Panels Market Characteristics
- Building Panels Market Trends And Strategies
- Building Panels Market – Macro Economic Scenario
- Global Building Panels Market Size and Growth
. - Global Building Panels Market Competitive Benchmarking
- Global Building Panels Market Competitive Dashboard
- Key Mergers And Acquisitions In The Building Panels Market
- Building Panels Market Future Outlook and Potential Analysis
- Appendix
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