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Building Panels Materials Market future trend and growth opportunities over the forecast timeframe

Author : Rahul Varpe | Published Date : 2019-07-08 

Global Building Panels Materials Market research report is added by Global market insights, inc by covering all major market aspects. The report also touches the key scenarios like top players, competition, types, applications, regions, recent developments and future market predictions.

Building Panels Materials Market size will witness considerable growth in the forecast period owing to increasing demand in construction industry. Rise scope in retail sector and commercial spaces are major driver for product demand. Growth in retail sector has increased at over 3.5% in 2016 as compared to 2015. Increase in residential and industrial infrastructure spending has enhanced its usage and will drive the industry growth.

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Based on product, building panels materials market is segmented into concrete, vacuum insulated, structural insulated and wood panels. Concrete type has major market share along with application in  wall, roof and floor. These are cost effective and provide rugged and durable surface. Roof and floor have major usage as it avoids unnecessary shuttering. Vacuum and structural insulated material will witness healthy growth with increase in energy efficient infrastructures.

On the basis of component building panels materials market is classified as plastic, concrete, metal, wood and silica. Concrete contributes largest market share owing to high demand in interior and exterior panels. These are cheaper than other ingredients and can easily be formed into desired shapes and sizes to meet required purpose and need. Plastic has substantial share as these are light in weight and easy to cut in desired shape.

Based on application, building panels materials market is segmented into residential commercial and industrial. Residential segment has substantial growth with rising population and low mortgage interest rate. Various construction and transport infrastructure development projects will support employment of building panels and in turn its raw material. Increasing demand in commercial spaces including malls and supermarkets will propel strong growth in forecast period.

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Asia Pacific has substantial share in global building panels materials market with emerging economies countries India and China. Rising disposable income and urbanization have enhanced the industry growth. Middle East and Africa has moderate share with advanced construction industries and presence of sky scrapers including Burj Kahlifa, Burj Al Arab, Rose Tower and Cayan Tower.

North America led by the U.S has significant share in building panels materials market owing to stringent government regulations for energy conservation and environment concern. Europe follows trend of North America with presence of well-established and flourishing automobile industry with big players such as Audi and Volkswagen that employ panels in showrooms. Further, European regulation as Energy Saving Regulation (EnEV) will support use of insulated panels in infrastructures.

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Building panels materials market is quite fragmented with presence of both global and local players. Prominent players are Nippon Steel & Sumitomo metals, Saint Gobain, Huntsman, Panasonic and Evonik Industries. Other key players include Boral, CRH, DOW Corning, Kingspan, Armstrong World Industries, Lafarge, ATAS International and IMETCO. Companies including Huntsman and Evonik Indutries are working in forward integration to enhance their market share.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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