Building Panels Market - Forecast From 2019 To 2024

Description

Building Panels are used to build to external and internal features of a building mainly to provide insulation. Besides reducing temperature fluctuations within the building, it provides several added advantages as it results in swifter construction, are aesthetically pleasing and have low maintenance requirement. These panels of different material types and sizes are used according to the requirement. The market for building panels is expected to grow at a significant rate driven by the growth in the construction industry and the application of technological advancements in the construction of buildings. However stringent government regulations regarding the use of certain chemicals and materials is expected to be a restraint for market growth.

By type, structural insulated panel (SIP) is expected to have a significant market share due to the growing demand for insulated panels for commercial buildings and cold storage among others. By geography, the Asia Pacific region is estimated to have a considerable growth rate driven by growth in construction activities.

DRIVERS

Growth in the construction industry

Growing demand for the latest construction technology

RESTRAINT

Stringent government regulations with regard to building material

INDUSTRY UPDATE

In April 2019, NCI Building Systems, Inc. which recently merged with Ply Gem Building Products, announced that it will officially operate as Cornerstone Building Brands

In September 2018, Kingspan Group, the global leader in high-performance insulation and building envelope solutions, announced the launch of Kingspan Facades – a new business designed to help architects enhance their designs without compromising on technical performance.

SEGMENTATION

The building panels market has been analyzed through the following segments:

By type

Structural Insulated Panel

Vacuum Insulated Panel

Wood panel

Others

By core material

Expanded Polystyrene (EPS)

Rigid Polyurethane (PUR)

Rigid Polyisocyanurate (PIR)

Glass wool

Extruded Polystyrene

Other

By application

Roof panel

Wall panel

Others

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

South Korea

India

Others