LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global building panels market report until 2021. This research report also lists 10 other prominent vendors that are expected to impact the market during the forecast period.
The global building panels market is growing at a moderate rate in accordance with the increasing urbanization and construction activities throughout the world. Building panels have advantages such as help reduce any delay in construction time, reduced labor requirements, cost-efficiency, less wastage of materials as compared to site-built construction, and improved worker safety. These advantages, along with factors such as industrialization and rapid urbanization, are driving the market for building panels. Technological developments and product innovations in the market are expected to create strong investment opportunities.
Competitive vendor landscape
The global building panels market is one of the growing markets with the presence of many vendors globally. The products sold are to be used during construction, insulation, and warehousing. Vendors focus on manufacturing products that comply with the fluctuation in prices for raw materials from the petrochemical market. The market is dominated by global players such as Evonik Industries, Huntsman, NIPPON STEEL & SUMITOMO METAL CORPORATION (NSSMC), Panasonic Corporation, and Saint-Gobain. These major players have a vast geographical presence with huge production and manufacturing facilities located globally.
Ajay Adikari, an industry expert at Technavio for research on metals and minerals, says, “Other vendors in the market are introducing new technologies and ideas to compete with major global players. Though product for building panels vary with different companies, the competition is high among all regional and global vendors in this market due to pricing strategies, and innovation in the technology of manufacturing building panels.”
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Top five building panels market vendors
Evonik Industries is a specialty chemicals company. The company engages in the production of polymer materials and intermediates for the rubber and plastics industries. It also produces specialty chemicals for daily use consumer goods, animal nutrition, and healthcare products. The company provides eco-friendly and energy-efficient systems for the automotive sector and the paints, coatings, and construction industries.
Huntsman designs, manufactures, and markets, differentiated organic and inorganic chemical products, globally. The company serves industries such as chemicals, plastics, automotive, furniture, and packaging. Its advanced materials segment offers basic solid and liquid epoxy resins, specialty resin compounds, matting, and curing agents. It also provides products for use in adhesives, composites for aerospace, automotive, wind power generation, electrical power transmission industrial coatings, and consumer electronics.
NIPPON STEEL & SUMITOMO METAL CORPORATION (NSSMC)
NSSMC is an integrated steel manufacturing company. It operates through five business categories: steel making and steel fabrication, chemical, engineering and construction, new materials, and systems solution businesses.
Steel sheets have wide-ranging applications that support various industries and the daily lives of people. These applications include home appliances, beverage cans, automobiles, construction materials, housing materials, and transformers. NSSMC is a very competitive supplier of steel sheets because of its ability to combine an extensive product lineup with quick response to customer requirements.
Panasonic Corporation aims to expand its contribution to better living everywhere. The company is mainly into housing, electronics, automotive, and B2B. The company’s VIP has achieved the highest level of insulation performance with very low thermal conductivity. The U-Vacua product performs 12-20 times more than urethane foam, and around 25 times greater than glass wool. U-Vacua's improved performance saves space with an increase in energy efficiency of home appliances, refrigeration applications, buildings, and other products that require low energy loss from heat transfer.
Saint-Gobain is involved in the habitat and construction market. The company designs, manufactures, and distributes, building and high-performance materials throughout the globe. The company caters to the automotive, buildings, ceramics, cement and glass, chemical, defense and security, display glass, energy, life sciences, electronic ceramics and semiconductors, and oil and gas industries.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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