Building Panels Market – Market Overview
Building panels are preformed construction panels used in the residential and non-residential sector. These panels are used for exterior as well as interior parts of the building. Building panels are used to construct the external and internal features of a building. Specific types of panels can be used to insulate the interior parts of a structure. Rapid increase in urban population require faster and cheaper construction of buildings and facilities without compromising on the quality. Building panels is not only effective in terms of the cost associated with it, but can also withstand the impact of any natural calamities such as earthquake and storms.
The Global Building Panels Market is growing at a moderate rate in accordance with the increasing urbanization and construction activities throughout the world. Building panels have advantages such as help reduce any delay in construction time, reduced labor requirements, cost-efficiency, less wastage of materials as compared to site-built construction, and improved worker safety.
Demand for vacuum insulated panels (VIPs) has increased due to challenges such as lack of proper warehousing facilities, lack of proper infrastructure, minimal logistic support, limited presence of service providers, and the lack of skilled workers faced by cold chain vendors that lead to the wastage of food products especially in the emerging countries. The steady growth of the organized retail sector has influenced advancements in cold chain facilities to prevent the wastage of food. This demands the need for increasing the capacity of refrigerated warehouses, which will in turn, influence the growth of this global market.
Accrediting the colossal growth the Building Panels market is witnessing currently and the potential the market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has recently published a meticulous study report giving out the complete market insight up till 2023. This report on global Building Panels market is a quantitative and qualitative analysis of the factors that are expected to influence the demand over the course of next few years. The report also highlights some of the trends of the market that may help the buyers plot their strategic expansion plans on in order to tap new available opportunities. According to research, continuing with the trends the global Building Panels market is projected to perceive an outstanding growth by 2023 registering a striking CAGR during the anticipated period (2017 – 2023).
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Panasonic Corporation, Saint-Gobain, CRH Plc., Lafarge, Evonik Industries AG, Huntsman International LLC., Dow Corning Corporation, Fletcher Building Limited, Atlas international and Boral Limited are some of the prominent players at the forefront of competition in the global Building Panels market and are profiled in MRFR Analysis.
Building Panels Market – Competitive Analysis
Building Panels Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Increasingly stringent government regulations over the usage of specific chemicals and materials hampers the growth of the global building panels market. A number of chemicals have been banned in certain countries due to their toxic attributes. Therefore, market players have to increase investment in research and development to discover safe and economical alternatives.
Emerging economies offer large opportunities in the global building panels market. Most of these nations are witnessing a high rate of construction activities. Each nation provides a major opportunity of growth for regional as well as global players. These emerging economies are also capable of purchasing premium construction materials and products for the building of better structures. This is likely to boost the scope of growth for global players
Building Panels Market – Segments
For the convenience of the report and enhanced understanding; The Building Panels Market is segmented in to 5key dynamics
Segmentation by Panel Type – Wooden, Concrete, Structural Insulated and Vacuum Insulated
Segmentation by Materials – Concrete, Metal, Wood, Plastics, and Silica
Segmentation by Application- Residential, Commercial, Industrial
Segmentation by End Use- Floors & roof, Walls, Columns & Beams, and Staircase
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Building Panels Market – Regional Analysis
The global Building Panels market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia-Pacific region dominated the Global building panels market, because of increasing industrialization & urbanization activities and rising need of housing with increasing population. This is mainly due to emerging economies in China, Japan, and India, coupled with growing applications of building panels in the residential and non-residential construction industry. Asia-Pacific is projected to be the fastest-growing market during the forecast period, due to the growing demand for building panel products and increasing awareness among end users. This region will grow at fastest pace in forecast period. APAC region followed by the European and North American region.
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