According to the recent study the Building Panel Market is projected to reach an estimated $234.1 billion by 2025 from $180.4 billion in 2019, at a CAGR of 4.4% from 2020 to 2025. Growth in this market is primarily driven by increasing new construction, renovation activities, and increasing demand for cost effective construction practices.
Browse 129 figures / charts and 103 tables in this 213 -page report to understand trends, opportunities and forecast in building panel market by end use, (residential and commercial), by panel type (precast concrete panels, vacuum insulated panels (VIP), structural insulated panels (SIP), and wood-based panels), by material type (concrete, plastic, metal, wood, and silica), by application (floor, roofs, walls, columns & beams, and staircases), and by region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Concrete market is expected to remain the largest segment during the forecast period.”
Based on material type, the building panel market is segmented into concrete, plastic, metal, wood, and silica. Lucintel forecasts that the concrete building panels market is expected to remain the largest segment due as it consumes much less time and effort for installation. The plastic building panels segment is expected to experience the fastest growing segment during the forecast period.
“Within the building panel market, the residential segment is expected to remain the largest end use industry”
Based on end use industry, the residential segment is expected to witness the largest end use industry over the forecast period due to increasing housing construction in emerging nations.
“Asia pacific will dominate the Building Panel market in near future”
Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to growing population and increasing construction activities in this region.
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Major players of building panel market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Panasonic Corporation, Saint-Gobain, Nippon Steel & Sumitomo Metal Corporation, CRH PLC, and Lafarge are among the major Building Panel providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/building-panel-market.aspx or [email protected]
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