Building panels are used to build internal and external features of a building. They are available in various dimensions and types but their core aim is the same.
Sarasota, FL -- (SBWIRE) -- 06/20/2017 -- Zion Market Research, the market research group announced the analysis report titled "Building Panels Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Building Panels Market: Overview
Building panels are used to build internal and external features of a building. They are available in various dimensions and types but their core aim is the same. The type of building panel is chosen by the builder based on the requirements and availability. Building panels can also be used for insulation of the interiors. Major aspects boosting the demand for building panels in the market are rapid urbanization and industrialization. Use of building panels is advantageous as they consume less time, labor, capital and power for the building. It also reduces the wastage of materials. Owing to all these factors, the demand for building panels is rising rapidly.
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Global Building Panels Market: Segmentation
The global building panels market is segmented into its raw material, type, end-user, application, and geography. On the basis of type, the global market is divided into vacuum insulated panels, concrete panels, wood panels and structural insulated panels. Based on the end-use, the global market is segregated into walls, floors and roofs, staircases and columns and beams. On the basis of raw material, the global building panels market is classified into plastic, concrete, wood, metal and silica. Based on application, the market is divided into residential and non-residential.
Global Building Panels Market: Growth Factors
The global building panels market is rapidly growing owing to factors such as rapid urbanization, increase in the construction activities, rising population, increasing concern about power and fuel consumption, availability of premium construction materials, increasing research and development activities and increasing demand for safe housing solutions at lower costs. Building panels made out of concrete have higher demand as they require less time and efforts in installation. The largest market share is held by the residential segment owing to the increasing population. However, there are certain restraining factors to the market growth such as stringent government regulations regarding use of specific chemicals and materials due to their toxicity and high costs.
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Global Building Panels Market: Regional Analysis
The largest share of the building panels market is held by Asia Pacific. This growth can be attributed to factors such as rapid rate of urbanization, increasing construction activities especially in the residential construction segment, increasing disposable income, and growing population. Major countries contributing towards this growth are China, India, Japan, Australia and New Zealand. Following the growth in Asia Pacific are North America, Europe, Latin America and the Middle East and Africa. Countries contributing towards the market growth in North America are the U.S. and Canada. In the European region, the U.K., Germany, Spain, France, Italy, the Netherlands, Belgium, Poland, Luxembourg and Russia are the main countries providing a significant share of the building panel market growth. Latin American countries such as Mexico, Brazil, Peru and Chile and the Middle East and African countries such as South Africa and North Africa are also providing a fair share of the rising demand for building panels in the market.
Global Building Panels Market: Competitive Players
Some of the major companies in the global building panels market are Armstrong World Industries Inc., BMC Stock Holdings Inc., Huntsman International LLC, Dow Corning Corporation, Saint-Gobain, Panasonic Corporation, CRH plc, Evonik Industries AG, Boral Limited, Lafarge, Fletcher Building Ltd. and Atlas International Inc.
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Global Building Panels Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa