The Building Panels Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/building-panels-global-market-report
According to The Business Research Company’s Building Panels Global Market Report 2024, 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.
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.
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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
Technological advancement is the key trend in the building panels market. Major companies operating in this market are focused on developing innovative technologies to strengthen their market position. For instance, in June 2021, Magicrete Building Solutions, an India-based producer of building materials introduced green construction materials, MagicLite ALC Wall Panels with autoclaved lightweight concrete panel technology that offers high-quality and durable construction in the shortest time possible. These are added with corrosion-protected steel, making it a lightweight outstanding and resulting in sound insulation, suppressing the outside noise.
The building panels market report table of contents includes:
1. Executive Summary
2. Building Panels Market Characteristics
3. Building Panels Market Trends And Strategies
4. Building Panels Market – Macro Economic Scenario
5. Global Building Panels Market Size and Growth
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26. South America Building Panels Market
27. Brazil Building Panels Market
28. Middle East Building Panels Market
29. Africa Building Panels Market
30. Building Panels Market Competitive Landscape And Company Profiles
Top Major Players:
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