NEW YORK, January 24, 2018 /PRNewswire/ --
MarketResearch.biz announces publication of its most recently generated research report titled, "Global Composite Panel Market by Type (Metal composite panel, Wood composite panel, Rock wool composite panel, and Others), Application, And Region - Global Forecast to 2026.", which offers a holistic view of the global composite panel market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 396,191.1 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period.
Composite panels are pre-fabricated panels made of a low density insulation core material, which is sandwiched between or bonded by two thin metal or wood sheets. Composite panels are used for partitioning, facades, exterior cladding, roofing, decking, flooring, and others. These panels have high stability, insulation, stain and water-resistant properties, as well as, excellent load-bearing capacity.
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Global Composite Panel Market: Market Dynamics
Increasing demand for composite panels from construction, transportation, automotive and other sectors is a major factor driving growth of the global composite panel market. Development of innovative buildings designs, and availability of variety of panels in different textures, size, and colors is expected to boost growth of the global composite panel market. In addition, use of composite panels combines multiple disciplines of construction into a single-step such as stud framing, structure, insulation, top plate, and vapor barriers.
Composite panels are manufactured as a single unit which provides easy installation, which allows construction companies to reduce their labor costs. These panels are also ready to use and require minimum alterations. Composite panels also offer high insulation properties with low thickness. These are additional factors expected to drive growth of the global composite panel market.
High cost of composite panels, and susceptibility to damage during harsh weather conditions are some factors expected to hamper growth of the global composite panel market. Composite panels are usually expensive compared to traditional materials available for construction, which may impede growth of the global composite panel market.
Development of composite panels with cost-effective core materials with higher efficiency and longer durability can create high potential opportunities for players in the global composite panel market. In addition, development of composite panels that are resistant to damage due to harsh weather conditions is expected to create significant opportunities for players in the global composite panel market.
Global Composite Panel Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global composite panel market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global composite panel market is expected to expand at a CAGR of 6.5% during the forecast period.
Global Composite Panel Market: Segmental Snapshot
The market report has been segmented on the basis of type, application, and region. The type segment includes metal composite panel, wood composite panel, rock wool composite panel, and others. Application segment includes building, furniture, industrial equipment, and others. The regions covered in the analysis are North America, Europe, Asia Pacific, South America, and Middle East & Africa.
According to composite panel market infographics published on MarketResearch.Biz,
By type: Metal composite panel segment is estimated to register a CAGR of over 6.6%, thereby accounting for highest revenue share among the type segments.
By application: Building segment is estimated to account for highest revenue share among the application segments, registering a CAGR of over 6.6% over the forecast period.
By region: The market in Asia Pacific accounted for highest revenue share in the global composite panel market in 2016, and is expected to record highest CAGR of over 6.8% between 2017 and 2026.
Global Composite Panel Market: Competitive Analysis
The research report on the global composite panel market includes profiles of major companies such as EGGER Group, Sonae Indústria, SGPS, S.A., Louisiana-Pacific Corporation, SWISS KRONO GROUP, Norbord Inc., Georgia-Pacific LLC, Duratex S.A, Weyerhaeuser Company, Kastamonu Entegre, Masisa S.A., Finsa, Yatai Industrial Group Co., Ltd., Shanghai Jixiang Industry Co., Ltd., Schweiter Technologies AG, Alstrong Enterprises India Pvt. Limited, and Arconic Inc.
Composite Panel Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global composite panel market for 2017-2026.
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