Building Panels Market is expected to Grow with a CAGR of 4.28% through 2030
The
Building Panels Market is driven by increasing demand for energy-efficient,
cost-effective construction materials, rapid urbanization, sustainability
initiatives, government regulations promoting eco-friendly buildings, and
advancements in material technology for durability.
According
to TechSci Research report, “Building Panels Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2030F”, the
Global Building Panels Market was valued at USD 70.89 billion in 2024 and is expected to reach USD 91.98 billion by 2030 with a CAGR of 4.28% during the forecast period. The increasing popularity of prefabrication and modular construction methods is significantly impacting the building panels market. Prefabricated construction techniques offer numerous advantages, such as reduced construction time, cost savings, improved quality control, and minimal material wastage, all of which are driving their widespread adoption. Building panels play a crucial role in modular construction as they facilitate faster assembly and provide structural integrity while ensuring compliance with building codes and performance standards. The growing demand for offsite construction, driven by the need for faster project delivery in urban areas and the shortage of skilled labor, is fueling the adoption of prefabricated panels made from materials such as concrete, wood, and composite materials. Additionally, advancements in automation and digital technologies, such as Building Information Modeling (BIM), are further enhancing the efficiency of modular construction by allowing precise panel fabrication and seamless integration with other building components. The rise of smart cities and the growing need for resilient infrastructure are also contributing to the expansion of the prefabricated construction market, leading to increased demand for high-performance building panels. Furthermore, modular construction is gaining traction in sectors such as healthcare, education, and commercial real estate, where speed and scalability are critical factors. Governments and construction firms are increasingly investing in modular housing projects to address the challenges of rapid urbanization and housing shortages. The Asia-Pacific region, in particular, is witnessing significant growth in prefabrication due to the rising urban population and infrastructural developments. As modular construction continues to evolve, the demand for innovative building panel solutions that offer superior aesthetics, durability, and ease of installation is expected to grow, driving market expansion in the coming years.
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the "Global Building Panels Market.”
Based on the Application,
Residential segment held the largest Market share in 2024. The Building Panels
Market in the residential segment is experiencing significant growth driven by
several key factors. One of the primary drivers is the increasing demand for
sustainable and energy-efficient construction solutions. As homeowners and developers
increasingly prioritize eco-friendly and cost-effective building materials,
building panels, which offer excellent insulation properties and reduced energy
consumption, are gaining popularity. These panels contribute to maintaining
optimal indoor temperatures, thereby lowering heating and cooling costs, which
is particularly appealing in regions with extreme climates. Additionally,
government regulations and incentives aimed at promoting green building
practices are accelerating the adoption of building panels, as they align with
energy-efficient building codes and certifications like LEED. Another
significant driver is the growing trend of prefabricated and modular
construction methods. Building panels, being lightweight, easy to install, and
pre-manufactured off-site, are integral to these construction techniques. This
enables faster construction times, reducing labor costs and minimizing
disruptions to local communities. Furthermore, the residential market's
increasing focus on safety and durability plays a crucial role. Building
panels, particularly those made from materials such as concrete, gypsum, and
fire-resistant composites, offer enhanced protection against natural disasters,
such as hurricanes, floods, and fires, providing peace of mind to homeowners.
As a result, the adoption of building panels is gaining momentum, particularly
in areas prone to such risks. The rise in urbanization and the expansion of
housing markets in developing countries are also contributing to the demand for
building panels, as these regions are investing in modern, sustainable
infrastructure to accommodate growing populations. Moreover, building panels
offer aesthetic flexibility, allowing homeowners and builders to choose from
various finishes, colors, and designs, which enhances their appeal in
residential applications. Finally, the affordability and long-term cost savings
associated with building panels, both in terms of material costs and
maintenance requirements, make them a cost-effective option for residential projects.
All these factors combined are creating a favorable environment for the growth
of the Building Panels Market in the residential segment, as it supports a
shift towards more sustainable, efficient, and resilient housing solutions.
Based on region, Asia Pacific is the fastest growing region in building panels market. Asia Pacific is the fastest-growing region in the Building Panels Market, driven by rapid urbanization, industrialization, and infrastructural development across key countries like China, India, and Southeast Asia. The region's robust construction activities, particularly in residential, commercial, and industrial sectors, are fueling the demand for building panels due to their cost-effectiveness, energy efficiency, and ease of installation. The increasing emphasis on sustainable and eco-friendly building materials, supported by government regulations and incentives promoting green construction practices, is further accelerating market growth. In addition, the rising adoption of prefabricated and modular construction methods in the region is boosting the demand for innovative building panel solutions. As urban populations continue to grow, there is heightened demand for affordable housing, and building panels offer a practical solution to address this need. Moreover, the Asia Pacific region is witnessing significant investments in smart city projects, infrastructure upgrades, and the development of industrial hubs, all of which are driving the need for durable and energy-efficient building materials. The market is also benefiting from the region’s expanding middle class, leading to an increased demand for high-quality construction materials in both residential and commercial real estate developments.
Major
companies operating in the Global Building Panels Market are:
- Owens
Corning
- Saint Gobain Group
- Sika
AG
- Interface,
Inc.
- Boral
Limited
- Arauco
- SOPREMA
Insulation Limited
- Etex
NV
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“The
Global Building Panels Market is expected to rise in the upcoming years and
register a significant CAGR during the forecast period. The Building Panels
Market offers substantial growth opportunities, fueled by the escalating demand
for sustainable and energy-efficient construction solutions. With a growing
emphasis on eco-friendly materials from governments and corporations, panels made
from recycled, renewable, and high-efficiency materials are becoming
increasingly sought-after. Technological advancements, such as the development
of lightweight, high-strength panels, are expanding their applications across
residential, commercial, and industrial sectors. Additionally, the surge in
construction activities within emerging markets and the rising adoption of
modular and prefabricated building practices are driving market expansion. The
sector is further poised for growth as investments in green buildings and
energy-efficient infrastructure intensify globally. Therefore, the Market of Building
Panels is expected to boost in the upcoming years.,” said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based global management consulting
firm.
“Building
Panels Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented, By Type (Structural Panels, Insulated Panels, Decorative Panels,
Metal Panels), By Material (Wood, Concrete, Plastic, Metal, Glass), By
Application (Residential, Commercial, Industrial, Infrastructure), By Region,
By Competition, 2020-2030F”,
has evaluated the future growth potential of Global Building Panels Market and
provides statistics & information on the Market size, structure, and future
Market growth. The report intends to provide cutting-edge Market intelligence
and help decision-makers make sound investment decisions., The report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Building Panels Market.
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