Global Building Panels Market Growth and Forecasts 2022
The “Global Building Panels Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” by DecisionDatabases.com covers the analysis of the building panels market using analytical tools such as Porter’s Five Forces Model. It provides value chain analysis, market attractiveness analysis, and company share analysis along with the key player’s complete profiles.The report anticipates the building panels market to grow at a high CAGR. The growth is attributed to various factors such as the boom in construction industries catalyzed by rapid urbanization, easy installation and growing demand for cost-efficient construction activities across the globe. Rising concerns towards high consumption of fuel and power are expected to fuel market demand for building panels in the near future due to its heat-insulation property.
Building panels are widely used to construct internal and external facets of a building. They are available in a wide variety of designs and thus satisfy the builder’s specific requirement. Specific panels can be used to insulate the internal part of buildings as well. The economic slowdown in many countries and stringent regulations towards the usage of specific materials and chemicals with harmful effects are some of the major challenges, which can restrict the growth opportunities for the market. However, major industry players are investing in R&D to discover economical and safe alternatives.
Emerging economies are witnessing a large number of construction activities and therefore offer various opportunities for the major industry players in the region. Increasing purchasing power to buy premium building materials for better structures is also likely to boost market demand for panels in this market. Increasing demand in the commercial and residential sectors along with high disposable income of consumers are projected to open new avenues for market growth under the study period.
The global building panels market has been segmented based on types into concrete panels, vacuum insulated panels (VIP), structural insulated panels (SIP), and wood panels. The building panels market has been further segmented based on end use into floors & roofs, walls, columns & beams, and staircases. The floors & roofs segment is expected to experience a higher growth rate over the forecast period owing to the increasing demand from the commercial and residential sectors. Furthermore, the global building panels market has been segmented based on raw material and application. The residential sector is one of the leading application segments and is estimated to grow at a significant rate over the coming years on account of low-mortgage rates, burgeoning population, and rising urban infrastructure developments worldwide.
The Asia-Pacific region is projected to be the fastest-growing market for the building panels over the forecast period owing to the rapid urbanization, burgeoning population and growing construction activities, particularly in China and India. The Middle East & Africa market is also expected to grow at a considerable rate in the near future due to the growing economies and rising construction activities in the region.
The major industry players include Panasonic Corporation, Saint-Gobain, Nippon Steel & Sumitomo Metal Corporation, CRH PLC, Lafarge, 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., BMC Stock Holdings, Inc., Red Sea Housing Services, Atas International, Inc., Mueller, Inc., Innovative Metals Company, Inc., and the Murus Company.
In Jan 2016, Essel-GCL (a consortium between Essel Infraprojects and Golden Concord Holdings) announced an investment of USD 2 billion to build a 5GW capacity solar panel manufacturing plant in Andhra Pradesh, India by 2020.
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