Building Panels

Building Panels

Global Building Panels Market to Reach US$260.7 Billion by 2030

The global market for Building Panels estimated at US$177.1 Billion in the year 2023, is expected to reach US$260.7 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2023-2030. Residential Application, one of the segments analyzed in the report, is expected to record a 5.9% CAGR and reach US$166.6 Billion by the end of the analysis period. Growth in the Non-Residential Application segment is estimated at 5.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$28.4 Billion While China is Forecast to Grow at 7.0% CAGR

The Building Panels market in the U.S. is estimated at US$28.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$67.2 Billion by the year 2030 trailing a CAGR of 7.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.9% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.

Global Building Panels Market - Key Trends and Drivers Summarized

Building panels are prefabricated structural components commonly used in the construction industry for walls, floors, roofs, and other architectural applications. These panels can be made from various materials, including concrete, wood, metals, and composites, tailored to meet specific structural, thermal, acoustic, and aesthetic requirements. The key advantage of building panels lies in their ability to provide quick and efficient construction solutions, as they are manufactured off-site and simply assembled or installed on-site. This method significantly reduces construction time, labor costs, and environmental impact associated with traditional construction practices. Additionally, building panels are designed to be durable, energy-efficient, and capable of providing enhanced insulation properties, which are critical factors in modern construction.

The market for building panels is experiencing a transformation driven by technological advancements and shifting industry preferences. Innovations in material science have led to the development of lighter, stronger, and more sustainable panel materials that improve the energy efficiency of buildings and extend their lifespan. For instance, insulated panels and structural insulated panels (SIPs) are increasingly favored in both residential and commercial construction for their superior insulation properties and strength-to-weight ratios. Furthermore, the adoption of modular and prefabricated construction methods is rising, spurred by a growing recognition of their benefits in terms of cost-effectiveness and reduced environmental footprint. These methods align well with contemporary demands for faster construction turnarounds and leaner, greener building techniques, propelling the use of building panels in new construction projects and renovations alike.

The growth in the building panels market is driven by several factors, including increased urbanization, stringent building regulations related to energy efficiency, and technological innovations in construction. As urban areas expand, the demand for rapid construction techniques that minimize disruption is crucial, and building panels meet this need effectively. Stringent global standards for energy efficiency in buildings compel the construction industry to adopt high-performance solutions like insulated building panels that help in reducing energy consumption and carbon emissions. Technologically, advancements in digital tools and fabrication methods allow for high precision in the production of customized panels, which facilitates their adoption in diverse architectural designs. Additionally, changing consumer behavior towards sustainable living and green building practices supports the demand for environmentally friendly building materials, further stimulating market growth. These factors collectively ensure sustained interest and investment in the development and refinement of building panels.

Select Competitors (Total 82 Featured) -

• Armstrong World Industries, Inc.
• Atlas Engineered Products Ltd.
• Arpa Industriale SpA
• Apex Steel Pty., Ltd.
• ABC Supply Co., Inc.
• Aluminum Coil Anodizing Corp. (ACA)
• Allied Steel Buildings, Inc.
• Advenira Enterprises, Inc.
• Atlas International Inc.
• Asc Profiles, Inc.
• AbTech, Inc
• Architectural Cladding Australia Pty Limited
• A.E. Concrete Precast Products Limited
• 3D Laminates Ltd
• AKW Medi-Care Ltd.

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