-- Market Scenario
The global building panels market is presumed to demonstrate 6% CAGR during the forecast period (2017-2022) owing to the increasing population, asserts Market Research Future (MRFR). Building panels are referred to as the verticals or the walls in the building which creates a partition and are built of materials such as wood, concrete, and others. Building panels come in different dimensions and types are used to build the internal and external features of a building. They are also used for insulation of the interiors and can also be used in walls and on the roofs.
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Drivers and Constraints Impacting the Market
Building panels are expected to register a healthy CAGR over the appraisal period owing to its several advantages. They consume less labor, less time, power, and capital for the building, and also reduces the wastage of materials. With rapid development in the construction technology, building systems, and growing demand in the commercial and residential sectors, the global building panels market is presumed to augment during the assessment period. The ever-increasing population coupled with rising disposable income of the consumers in the emerging countries increases the application for construction techniques, thereby offering lucrative opportunities for the market across the globe. Moreover, the rising concern associated with the consumption of power and fuel, growing R&D, availability of premium construction materials, and augmenting demand for safe housing solutions at lower costs are contributing to the market growth.
On the flip side, strict government mandates associated with the use of specific materials and chemicals due to their toxicity and high costs are presumed to impede the market growth during the appraisal period.
Global Building Panels Market: Segmental Analysis
The global building panels market has been segmented on the basis of panel type, materials, application, end-use, and region.
By mode of panel type, the global building panels market has been segmented into concrete, wooden, vacuum insulated, and structural insulated.
By mode of materials, the global building panels market has been segmented into metal, concrete, plastics, wood, and silica.
By mode of application, the global building panels market has been segmented into commercial, residential, industrial. Among these, the residential segment accounts for the largest market share and is projected to expand at a rapid rate owing to the fast approvals, population growth, low mortgage interest rates, and urban transport infrastructure developments. Moreover, the continuously increasing population is one of the major factors stimulating the demand of the segment.
By mode of end-use, the global building panels market has been segmented into walls, floors & roof, staircase, and columns & beams. Among these, the floors and roofs segment accounts for the largest market share owing to the rising demand from the commercial and residential sectors.
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Regional Insights
Geographically, the building panels market span across regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World.
Among all the regions, the Asia Pacific region is considered to dominate the global building panels market owing to the increasing urbanization and industrialization activities in this region. Also, with the growing population, the need for housing has also increased. This has contributed to the growth of the market in this region. Countries contributing to the growth of the market in this region are India, China, Australia, Japan, and New Zealand. The Asia Pacific region is closely followed by Europe and North America.
Industry Updates
December 10, 2018: Carlisle Companies Incorporated, a global leader in the industrial and commercial building envelope products through its Carlisle Construction Materials operating segment has recently announced today that it has entered into a purchase agreement in order to acquire Petersen Aluminum Corporation which is a privately held manufacturer of high-quality metal roofing products.
Competitive Dashboard
The prominent players operating the global building panels market are Fletcher Building Limited, Evonik Industries AG, Dow Corning Corporation, Panasonic Corporation, CRH Plc., Huntsman International LLC., Lafarge, Saint-Gobain, and Atlas International and Boral Limited.
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