Building Panels: Core Growth Enabler in the Building Panels Market Growth Fueled By Increasing Construction Activities Market, 2025

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What Will the Building Panels Industry Market Size Be by 2025?
In the past few years, there has been a robust growth in the market for building panels. The market is projected to expand from a valuation of $228.35 billion in 2024 to about $240.75 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 5.4%. Factors contributing to the growth during the historic period include market competition and innovation, the consumer tendency towards prefabricated homes, government incentives and grants, and an uptick in residential construction.

What's the Long-Term Growth Forecast for the Building Panels Market Size Through 2029?
Over the following years, significant growth is anticipated in the building panels market, slated to rise to $317.34 billion by 2029 with a compound annual growth rate (CAGR) of 7.1%. The projected growth during this forecast period can be linked to sustainable construction methods, urbanization, increasing population, strict building rules, and concerns about energy efficiency, as well as cost-effectiveness. Key trends during the forecast period encompass green building materials, modular construction, urbanization, population density, and strict construction regulations.

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What Are the Key Growth Drivers Fueling the Building Panels Market Expansion?
The escalation of construction projects is projected to drive the growth of the building panels market. Development projects, which involve creating large infrastructures by assembling materials, facilitate the growth of the building panels market. This market growth is bolstered by an increase in construction for both housing and non-residential structures. Building panels provide a plethora of advantages, promoting efficient, economical, and environmentally friendly construction methods. For example, the US Census Bureau, a government agency in the United States, reported in July 2024 that the value of construction work increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Consequently, the surge in construction activities will be a significant driver for the expansion of the building panels market.

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What Are the Key Trends Driving Building Panels Market Growth?
Leading organizations in the building panel market are striving to develop breakthrough technologies, such as the innovative Fronto V Black Panels, aiming to solidify their market stance. The inventive Fronto V Black Panels are durable construction panels specifically fashioned for architectural uses, particularly for exterior and interior wall systems. For example, Vox India, a home furnishing firm based in India, unveiled the Fronto V Black Panels in September 2024. This new addition to their Fronto series of exterior slat panels is crafted for use in façade and ceiling applications, presenting a contemporary aesthetic and resistance against physical damage and sunlight exposure. The Fronto V Black Panels are lightweight, resistant to water damage and require minimal maintenance, representing an optimal substitute for conventional wooden façades. These innovative panels employ state-of-the-art thermal printing technology to mimic the natural look of wood, incorporating a diversely-patterned grain that enhances visual attractiveness.

How Is the Building Panels Market Segmented?
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

Subsegments:
1)By Precast Concrete Panels: Solid Precast Panels, Insulated Precast Panels
2) By Vacuum Insulated Panels: Standard Vacuum Panels, Custom Vacuum Panels
3) By Structural Insulated Panels (SIP): EPS (Expanded Polystyrene) SIPs, XPS (Extruded Polystyrene) SIPs
4) By Wood-Based Panels: Plywood Panels, Particleboard Panels
5) By Other Panel Type: Fiber Cement Panels, Metal Panels

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Which Companies Are Leading the Charge in Building Panels Market Innovation?
Major companies operating 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., 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

Which Regions Are Leading the Global Building Panels Market in Revenue?
Asia-Pacific was the largest region in the building panels market in 2024. The regions covered in the building panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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