Sandwich Panels Market Information: by Type (Glass Wool, Rock Wool), Application (Commercial Buildings, Agricultural Buildings), and Region – Global Forecast Till 2030
Sandwich Panels Market is projected to be worth USD 4.20 billion by 2030, registering a CAGR of 8.85% during the forecast period (2022 to 2030), The market was valued at USD 1.59 billion in 2021.
The sandwich panels market is witnessing rapid growth owing to the favorable properties of these panels and the booming housing construction industry. Sandwich panels are light, durable, and offer thermal and acoustic insulation making them popular construction materials for modern buildings.
Sandwich panels are a triple-layer structure consisting of rigid thin outer skin and insulating core material in between. These panels are easy to install and provide an aesthetic look, so they are increasing their market demand.
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The major global companies playing a key role in the sandwich panels market are :
DANA Group of Companies (UAE)
INVESPANEL SL (Spain)
Kingspan Group (Ireland)
Building Component Solutions LLC (Saudi Arabia)
Nucor Corporation (U.S.),
Assan Panel A.S. (Turkey)
Hoesch Siegerlandwerke GmbH (Germany)
ArcelorMittal S.A. (U.S.)
MANNI Group (Italy)
Zhong Jie Group (China)
Romakowski GmbH & Co. KG (Germany)
Tata Steel Limited (India)
NCI Building Systems Inc. (U.S.)
Multicolor Steels India Pvt Ltd. (India)
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Covid 19 Analysis
Covid-19 had adverse effects on the global sandwich panels market. The halt in building construction activities during the period led to a fall in demand for sandwich panels. There was no new construction of residential and commercial buildings owing to the poor expendable income of individuals and labor shortage during the crisis period. Similarly, the demand for other end-user segments like Industrial and warehousing demand also went down.
A Sandwich panel is also known as a composite panel or structural insulating panel comprises two rigid panels having lightweight core material in between. The rigid panels, usually thin metal sheets, are bonded to either side of the core material. The outside panels provide durability to the structure while the inner core acts as a cushion and insulator. These panels are used for cladding walls, floors & roofs, and also as building materials.
The specific objectives of this market report on the global sandwich panels market are given below:
To provide a complete overview of the sandwich panels market.
To analyze and forecast the sandwich panels market in terms of value and volume.
To provide information about the impact of covid 19 on the market and market response thereafter.
To point out the problems and prospects of the sandwich panels market.
To give details about technological know-how of the product and its market prospects.
To provide an overview of the regional market and potentially growing segments.
To identify the key players of the sandwich panel industry.
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In August 2021, Nucor Corporation, the leading steel, and steel products manufacturer announced the complete acquisition of Cornerstone Building Brands’ insulated metal panels (IMP) business for approximately USD 1 billion.
This report will be beneficial for every stakeholder of the sandwich panels market such as :
Manufacturers of sandwich panel
Raw material suppliers
R & D institutes
Traders and suppliers
North America is the largest regional market for sandwich panels. The greater prevalence of different manufacturing industries and high demand for modern construction materials make this region an indisputable leader. The rising demand for energy-saving construction materials in the industrial sector as well as growing retail chains is generating huge demand for these panels. Moreover, greater government focus on developing warehouses and cold chains will also propel the market growth here.
Asia-Pacific is the fastest-growing regional market segment of the global sandwich panels market. The rapid development of economies like China, India, Indonesia, Korea, and increasing infrastructure development will drive the market growth in this region. This region is also emerging as a global manufacturing hub with China and India leading the race. Therefore, there is increasing use of sandwich panels in modern residential and commercial structures.
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Key Market Drivers:
Need for green buildings
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