The global building panel market is projected to reach $250.5 billion by 2028, at a CAGR of 3% during 2023-2028. The growth of building panel market is driven by increasing new construction, renovation activities, and rising consumer spending on home improvement.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the building panel market by end use, (residential and commercial), panel type (concrete panels, vacuum insulated panels (VIP), structural insulated panels (SIP), and wood panels), material type (concrete, plastic, metal, wood, and silica), application (floors & roofs, walls, columns & beams, and staircases), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the building panel market?
Q.4 What are some changing demands of customers in the building panel market?
Q.5 What are the new developments in the building panel market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this building panel area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this building panel market?
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use high pressure laminates (HPLs), growing adoption of gypsum panel, and increasing demand for structural insulated panels (SIPs) in construction.
Based on material type, the building panel market is segmented into concrete, plastic, metal, wood, and silica. The concrete building panels segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to consume much less time and effort for installation.
APAC will remain the largest region, and it is also expected to witness the highest growth over the forecast period due to growing population and increasing construction activities in this region.
Key Players in the building panel market are Panasonic Corporation, Saint-Gobain, Nippon Steel & Sumitomo Metal Corporation, CRH PLC, and Lafarge.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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