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.
Growth in the construction industry
Growing demand for the latest construction technology
Stringent government regulations with regard to building material
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.
The building panels market has been analyzed through the following segments:
Structural Insulated Panel
Vacuum Insulated Panel
By core material
Expanded Polystyrene (EPS)
Rigid Polyurethane (PUR)
Rigid Polyisocyanurate (PIR)
Middle East and Africa