Zion Market Research Global Building Panels Market, 2016–2024 | Page 3

Building Panels Market
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 by 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 by 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