BUILDING PANELS MARKET TO REACH USD 301.7MILLION BY 2027 | CAGR 4.8% – FORENCIS RESEARCH

Global Building Panels Market: Key Highlights

• According to the new market research report “Building Panels Market by Type (Concrete Panels, Vacuum Insulated Panels (VIP), Structural Insulated Panels (SIP), Wood Panels), by Raw Materials (Concrete, Plastic, Wood, Metal, Others), by Application (Residential, Commercial), by End-user (Floors & Roofs, Walls, Columns & Beams, Staircase), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global building panels market is estimated to reach USD 301.7Million by 2027 at a CAGR of around 4.8% during the review period.
• Building panels are preformed construction panels used in the residential and non-residential sector. These panels are used for exterior as well as interior parts of the building
• Reduced power consumption, reduction in labor cost, and reduced time consumption are some of the benefits offered by building panels
• Varieties of materials are used for making such panels such as wood, metals, concrete, and others. Additionally, they are available in varied sizes and shapes can be manufactured and then used further for construction purposes

Global Building Panels Market: Key Market Dynamics

• Growing construction and infrastructure activities has expected to drive the growth of building panel market during forecasted period
• Ease of installation and removal attracts end users towards building panels which in turn has expected to drive the market growth
• Increasing stringent government regulations to prevent environment and human health form various hazards has expected to hinder the growth of market

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Global Building Panels Market: Regional Overview

• North America

North America, building panel market has anticipated propel the growth owing to the ongoing construction and renovation activities. According to US Census Bureau, in May 2020 USD 1,001,209 million was spent on private constructions. The infrastructure investment and smart city projects are contributing towards the growth of market. Additionally, the growing renovation activities of old buildings in the US have expected to surge the demand for product market in the region. 

• Asia-Pacific

Owing to the rapid industrialization and urbanization have surged construction activities. This has attributed demand for building panel market in the region.  According to the Institution of Civil Engineers (ICE), the global construction industry is expected to reach USD 8 trillion by 2030 which is driven by the construction in countries such as India, and China. Moreover, increasing population coupled with increasing disposable income has expected to drive growth of building panels.

Global Building Panels Market: Key Players Overview

• BMC Stock Holdings, Inc.:

BMC Stock Holdings, Inc. is a US-based company and is one of the leading provider of diversified products and services to builders, contractors, and professional remodelers. The company serves 45 metropolitan areas across 19 states, principally in the South and West regions.  In August 2019, the company announced acquisition of Kingston Lumber, enhancing its customer base and service capabilities in the Pacific Northwest with an aim to expand its business the region.

• Saint-Gobain:

Saint-Gobain is engaged in designing, manufacturing, and distributing materials & solutions. The company has strong global presence and operates in more than 68 countries across the globe. Saint-Gobain is one of the leader in providing sustainable housing solutions. The company operates through construction, building distribution, transport, general manufacturing & industry, and healthcare & life science business segments. CertainTeed, Gyproc, ISOVE, JWESON, and among others are some of the leading product brands of Saint-Gobain. 

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