Building Panel Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
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Building Panel Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
Building Panel Market,by Panel Type (Precast concrete panels, Vacuum Insulated Panels, Structural Insulated Panels (SIP), Wood-based panels, and Others), Application Type (Floors, Roofs, Walls, and Others), Material Type (Concrete, Plastics, Metal, Wood, and Silica), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Building Panel Market, by Panel Type (Precast concrete panels, Vacuum Insulated Panels, Structural Insulated Panels (SIP), Wood-based panels, and Others), Application Type (Floors, Roofs, Walls, and Others), Material Type (Concrete, Plastics, Metal, Wood, and Silica), and Region...
A building panel, being a modular and multi-layer construction material, consists of two sides, the outer ones providing form and weather resistance to the construction, with an insulating core located in between. These panels will be used to cover structures and will provide fast installation, different finish types, and amazing thermal and acoustic insulation. Building panels can reduce the cost of construction by accidentally forming a uniform look without any more finishing materials.
The global building panel market is driven by the fast-growing population which stimulates the construction industry and demand for modern buildings equipped with advanced insulation systems. The market is as well affected by the rise of construction sector which favors low-cost and high-efficient housing solutions. The fast pace of urbanization and the ecological friendliness of the construction panels are also a factor that explains the market growth. Despite the possible challenges like the impact of COVID-19 on construction activities, the market is forecast to bounce back when restrictions ease, raw material availability improves, and the demand for sustainable building solutions continues to grow.
The building panels market opens up many possibilities for its growth along with increasing popularity achieved by customers due to renewable and energy-saving construction options that are environmentally friendly. Key opportunities include:
Expansion in emerging markets: When solution of around-the-world issues of rapid urbanization and affordable housing shortage is considered, the use of building panels is growing in places like Asia-Pacific and Africa.
Adoption of eco-friendly materials: The worrying realization of the conservation of sustainability has meant that the creation of such panels for building tools which are made from recycled materials like silica and plastics, and which offer good insulation properties have been possible.
Technological advancements: Making new inventions of high-grade materials and better technology for fabrication is helping construct lightweight, powerful, and energy-saving building panels.
Increasing demand for prefabricated construction: There is an expansion in using the building panels in modular and prefabricated housing systems because of their quick installation and convenient claddings.
Mergers, acquisitions, and collaborations: The leading companies may appreciate the affiliating companies which will provoke the development of new products and the spread of the market coverage.
While this can result in a rise in living space requirements and favors the emergence of technically advanced and environmentally friendly structures, it will show a developing pace in the industry over the next ten years.
Structural Insulated Panels (SIP) are anticipated to remain the biggest demand generator for building panels in the years to come.
Application-Type Analysis
Floors, Roofs, Walls, and Others
Floors are expected to remain the dominant application during the forecast period.
Material Type Analysis
Concrete, Plastics, Metal, Wood, and Silica
Concrete is the dominant material type in the building panes market.
Regional Analysis
North America, Europe, Asia-Pacific, and The Rest of the World
Asia-Pacific is expected to remain the largest market over the next five years.
Panel Insights
"The structural insulated panelssegmentaccounted for the largest market share."
The building panel market is segmented into precast concrete panels, vacuum-insulated panels, structural insulated panels (SIP), wood-based panels, and others. Structural insulated panels are expected to remain the largest panel type in the market during the forecast period owing to the cost-effective solutions to building enclosures that are highly engineered. It is widely used for floors and roofs with rugged and durable surfaces for walls.
Material Insights
"The cementsegmentaccounted for the largest market share."
The market is segmented into concrete, plastics, metal, wood, and silica. Cement is expected to remain the dominant as well as the fastest-growing material type in the market during the forecast period. Building panels make use of energy-efficient natural resources and materials.
Regional Trends
"Asia-Pacificaccounted for the largest market share."
Asia-Pacific is expected to remain the largest market for building panels during the forecast period. Developing economies such as China, Japan, and India are driving the building panels market in the growing application in residential and non-residential construction industry.
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the building panel market:
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
What deliverables will you get in this report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Building Panel Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
The building panel market is segmented into the following categories:
By Panel Type
Precast concrete panels
Vacuum Insulated Panels
Structural Insulated Panels (SIP)
Wood Panels
Others
By ApplicationType
Floors
Roofs
Walls
Others
By Material Type
Concrete
Plastics
Metal
Wood
Silica
By Region
North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s building panel market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
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The building panel market is a segment of the construction industry that deals with the production and sale of building panels. Building panels are prefabricated building materials used to construct buildings' exteriors and interiors. They are made from a variety of materials, including concrete, wood, metal, and plastic. Building panels offer several advantages over traditional building materials, including speed of construction, reduced labor costs, and improved energy efficiency.
The building panel market is estimated to grow at a CAGR of 4.0% by 2028, driven by the construction industry's growth trends. Also, building panels are more cost-effective than site-built construction, resulting in less material waste, reducing construction time delays, enabling worker safety, and being environmentally benign.
Asia Pacific is estimated to remain dominant in the building panel market in the foreseeable future. The key economies driving the region’s demand for building panels are China, India, and Japan.
Structural insulated panels are expected to remain the largest panel type in the market during the forecast period owing to the cost-effective solutions to building enclosures that are highly engineered. It is widely used for floors and roofs with rugged and durable surfaces for walls.
Cement is expected to remain the dominant as well as the faster-growing material type in the market during the forecast period. Building panels make use of energy-efficient natural resources and materials.
Nippon Steel and Sumitomo Metal Corporation, CRH Plc, Lafarge, Evonik Industries AG, and Huntsman International LLC are the leading players in the building panel market.
