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Building Panels Market: Projected Growth, Key Drivers and Emerging Trends
Building Panels Market
What Is The Projected Market Size Of The Global Building Panels Market And Its Growth Rate?
The building panels market has shown promising growth in the past and continues to do so:
• The market size was $228.35 billion in 2024 and is expected to reach $242.4 billion in 2025, growing at a CAGR of 6.2%.
• The market has potential to reach $322.46 billion by 2029 at a CAGR of 7.4%.
• Key factors supporting this growth include sustainable construction practices, urbanization, population growth, stringent building regulations, and cost-effectiveness.
What Is Driving The Growth In The Building Panels Market?
The anticipated growth in the building panels market is attributed to increased construction activities, both in the residential and non-residential sectors. Building panels, due to their various benefits, such as cost-effectiveness and sustainability, are gaining preference in the construction industry. In July 2024, the US Census Bureau reported an increase in the value of construction operations from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. This escalation in construction activities will significantly drive the market growth.
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Who Are the Key Players Driving Building Panels Market Growth?
Major companies involved 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.
What Are The Key Trends In The Building Panels Market?
Key trends emerging in the building panels market include:
• Green building materials
• Modular construction
• Increasing urbanization and population density
• Strict building codes
What Are The Segments Of The Global Building Panels Market?
The global building panels market can be segmented by:
• Panel Type: Precast Concrete Panels, Vacuum Insulated Panels, Structural Insulated Panels (SIP), Wood-Based Panels, Other Panel Type
• Material Type: Concrete, Plastics, Metal, Wood, Silica
• Application: Commercial Construction, Residential, Non-Residential
• End User: Floors And Roofs, Walls, Columns And Beams, Staircases
Which Region Leads The Building Panels Market?
Asia-Pacific held the largest share in the building panels market in 2024. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Building Panels Market Global Market Report?
- Market Size Analysis: Analyze the Building Panels Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Building Panels Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Building Panels Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Building Panels Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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Learn More About the Business Research Company. With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
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