Press release
Building Panels Market 2024: Industry An are, Trends, Growth And Forecast To 2033
Building Panels Market
The Business Research Company presents an extensive market research report on the Building Panels Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The building panels market size has grown strongly in recent years. It will grow 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..
The building panels market size is expected to see strong growth in the next few years. It will grow to $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.. Major trends in the forecast period include green building materials, modular construction, urbanization and population density, stringent building codes, stringent building codes..
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Key Market Players:
Major companies operating in the building panels market report 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., 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
Market Drivers:
The increase in construction activities is expected to propel the building panels market forward. 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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/building-panels-global-market-report
The building panels market covered in this report is 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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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