Global Building Panels Market Report 2023: Exploring Innovative Trends, Segments, Applications and Future Growth Opportunities || Panasonic Corporation, Compagnie de Saint-Gobain SA, Nippon Steel & Sumitomo Metal Corporation

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Building Panels Global Market Report 2023 identifies the increase in construction activities as the major driver for the building panels market's growth in the forecast period. 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.

The global building panel market size is expected to grow from $202.81 billion in 2022 to $218.41 billion in 2023 at a compound annual growth rate (CAGR) of 7.69%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The building market size is expected to reach $273.96 billion in 2027 at a CAGR of 5.83%.

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Major competitors in the building panels market are 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.

A key trend in the building panels market includes technological advancement. 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.

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The Building Panels market is segmented -

• By Panel Type: Precast Concrete Panels, Vacuum Insulated Panels, Structural Insulated Panels (SIP), Wood-Based Panels, Other Panel Type

• By Material Type: Concrete, Plastics, Metal, Wood, Silica

• By Application: Commercial Construction, Residential, Non-Residential

• By End User: Floors And Roofs, Walls, Columns And Beams, Staircases

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the building panels market.

The Business Research Company's "Global Building Panels Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Building Panels Market Include:
1. Executive Summary
2. Building Panels Market Characteristics
3. Building Panels Market Trends And Strategies
4. Building Panels Market - Macro Economic Scenario
5. Building Panels Market Size And Growth
……………
27. Building Panels Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Building Panels Market
29. Building Panels Market Future Outlook And Potential Analysis
30. Appendix

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