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Building Panels Global market growth, size, and overview by 2024-2033
Building Panels Global Market growth, size, and overview by 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 31, 2024 /EINPresswire / -- The building panels market has experienced robust growth in recent years, expanding 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.
What Is The Estimated Market Size Of The Global Building Panels Market And Its Annual Growth Rate?
The building panels market is projected to continue its strong growth, reaching $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.
Explore Comprehensive Insights Into The Global Building Panels Market With A Detailed Sample Report:
Growth Driver Of The Building Panels Market
Rapid urbanization is expected to propel the growth of the building panels market going forward. Rapid urbanization refers to the swift and substantial increase in the population of urban areas, accompanied by the expansion and development of cities and towns. As urban populations grow, there is a rising demand for residential, commercial, and infrastructure development to accommodate the increasing number of people in urban areas. The use of building panels in construction has become increasingly prevalent due to the advantages they offer in terms of speed, cost efficiency, and design flexibility.
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Who Are The Leading Competitors In The Building Panels Market Share?
Key players in the market include Panasonic Corporation, Compagnie de Saint-Gobain SA, Nippon Steel & Sumitomo Metal Corporation, CRH plc., BMC Inc., 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, Mueller Inc, Owens Corning, PFB Corporation, Alubel SpA, Alumil Aluminium Industry SA, Alutech United Inc., ArcelorMittal, The Murus Company Inc., Rautaruukki Corporation, The Steel Network Inc., U.S. Lumber Group LLC, USG Corporation, VELUX Group, Weyerhaeuser Company, Xella Group, Sika AG, Tata Steel Limited, The Dow Chemical Company.
What Are The Dominant Trends In Building Panels Market Growth?
Major companies operating in the building panels market are focused on adopting strategic collaborations or partnerships to expand market reach or develop new products and technologies. These alliances are formed between companies within the building and construction industries to help metal building panel companies develop new products and technologies by combining their resources and expertise.
How Is The Global Building Panels Market 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
Geographical Insights: Asia-Pacific Leading The Building Panels Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Building Panels Market Definition
Building panels are high-performance building systems that are superior and cost-effective as they are easy to install, take less time and energy to create, reduce material waste, and offer spectacular insulation capabilities. The building panels construct a structure's interior and exterior features.
Building Panels Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global building panels market report covering trends, opportunities, strategies, and more
The Building Panels Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on building panels market size, building panels market drivers and trends, building panels market major players and building panels market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
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