Building Panels Market: Global Industry Analysis and Forecast (2023-2029)

Building Panels Market size was valued at US$ 245.24 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 6.31% through 2023 to 2029, reaching nearly US$ 376.38 Bn.
Building Panels Market Overview:
Prefabricated building panels are utilized in both the residential and non-residential sectors. These panels are used on both the exterior and interior of the structure. Such panels can be made out of a range of materials, including wood, metals, concrete, and others. Building panels in a variety of sizes and shapes can be produced and subsequently used in building. The basic need for this technology arose as the world's growing countries became more urbanised and industrialised. Building panels are more cost-effective than traditional construction methods since they take less time, money, labour, and energy to create. Building panels are superior to other traditional construction methods due to their ease of installation, which reduces material waste.To know about the Research Methodology :- Request Free Sample Report
Building Panels Market Dynamics:
The global building panels market is being driven by the present construction boom around the globe. This involves both the construction of new structures and the renovation of existing ones. In order to lower a structure's electricity consumption to maintain inside temperatures, care is necessary to employ the best feasible construction materials and building panels. As a result, rising worries over high energy and fuel use are driving the global building panels market forward. The global building panels market is being hampered by increasingly strict regulatory rules regarding the use of specific chemicals and materials. Due to their harmful properties, a number of chemicals have been prohibited in several countries. As a result, market players must grow their research and development spending in order to find safe and cost-effective alternatives.

In the global building panel market, emerging economies provide significant prospects. The majority of these countries are experiencing a surge in construction activity. Each country has a significant opportunity for regional and global players to expand. These developing economies can also afford to buy high-quality building materials and products to construct superior structures. This is likely to increase the potential for global players to grow.
Building Panels Market Segment Analysis:
Based on the Type, the market is segmented into Concrete panels, Vacuum insulated panels (VIP), Structural insulated panels (SIP), and Wood panels. Wood panels segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. The major benefit of using a wood panel is that it adds to the aesthetic quality of your home's design. The walls have a rich and sophisticated appearance. The natural beauty of wood can be displayed through decorative wood such as veneers. The surface of a wood panel is clean and smooth.Based on the Raw Material, the market is segmented into Concrete, Plastic, Metal, Wood, and Silica. Concrete segment is expected to hold the largest market share of xx% by 2029. This is due to the structural-architectural concrete panels are exceptionally designed and provide a robust and durable surface for walls; they are a cost-effective alternative in construction activities. As concrete panels are pre-stressed, they are stronger than reinforced panels and are often used for floors and roofs. These panels are also lightweight, easy to cut, and come in a variety of forms and sizes, making them ideal for a variety of applications.

Based on the Application, the market is segmented into Residential, and Non-Residential. The residential segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. With a growing population and low mortgage interest rates, the residential market is experiencing significant growth.

Construction and transportation infrastructure development projects can encourage the use of a variety of building panels, as well as their raw materials. During the forecast period, robust growth is fuelled by rising demand in commercial venues such as malls and supermarkets.

In the global market for building panels, emerging economies provide significant prospects. The majority of these countries are experiencing a surge in construction activity. Each country gives a significant opportunity for regional and global players to flourish. These rising economies can also afford to buy high-end construction materials.
Building Panels Market Regional Insights:
Asia Pacific dominates the Global Building Panels market during the forecast period 2023-2029. Asia Pacific is expected to hold the largest market share of xx% by 2029. This is due to the region's growing industrialisation and urbanisation India, China, and Japan, for example, are fast-growing economies in the region. During the forecast period, it is expected to have a beneficial impact on the growth of the building panels market. These are the major factors that drive the growth of this region in the global market during the forecast period 2023-2029.

North America is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Because of the availability of technical improvements in this region, the United States is expected to capture a significant market share. Furthermore, the country's need for insulated metal panels is expected to rise as a result of a modern approach to developing green building. Builders are concentrating on meeting emission standards, which is expected to boost market growth in the United States.

The objective of the report is to present a comprehensive analysis of the Global Building Panels Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Building Panels Market dynamic, structure by analyzing the market segments and project the Global Building Panels Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Building Panels Market make the report investor’s guide.
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Building Panels Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 245.24 Bn.


Forecast Period 2023 to 2029 CAGR:
6.31%
Market Size in 2029:
US $ 376.38 Bn.


 Segments Covered:
by Type
Concrete panels
Vacuum insulated panels (VIP)
Structural insulated panels (SIP)
Wood panels


by End-Use
Floors & roofs
Walls
Columns & beams
Staircases


by Raw Material
Concrete
Plastic
Metal
Wood
Silica


by Application
Residential
Non-Residential



Building Panels Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Building Panels Market Key Players are:
1. Panasonic Corporation
2. Saint-Gobain
3. Nippon Steel & Sumitomo Metal Corporation
4. CRH PLC
5. Lafarge
6. Evonik Industries AG
7. Huntsman International LLC.
8. Dow Corning Corporation
9. Fletcher Building Limited
10.Boral Limited
11.Armstrong World Industries, Inc.
12.Kingspan Group PLC.
13.OCI Company Ltd.
14.LG Hausys Ltd.
15.BMC Stock Holdings, Inc.

Frequently Asked Questions:

1. Which region has the largest share in Global Building Panels Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Building Panels Market?
Ans: The Global Building Panels Market is growing at a CAGR of 6.31% during forecasting period 2023-2029.

3. What is scope of the Global Building Panels market report?
Ans: Global Building Panels Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Building Panels market?
Ans: The important key players in the Global Building Panels Market are – Panasonic Corporation, Saint-Gobain, Nippon Steel & Sumitomo Metal Corporation, CRH PLC, Lafarge, 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., BMC Stock Holdings, Inc., and

5. What is the study period of this market?
Ans: The Global Building Panels Market is studied from 2022 to 2029.