Sandwich Panel Market Research Report - Forecast to 2030

Sandwich Panels Market Information: by Type (Glass Wool, Rock Wool), Application (Commercial Buildings, Agricultural Buildings), and Region – Global Forecast Till 2030

ID: MRFR/CO/1034-CR | February 2020 | Region: Global | 123 Pages         

1 Executive Summary

2 Market Introduction

2.1 Definition 17

2.2 Scope of the Study 17

2.3 Market Structure 17

2.4 Key Takeaways 18

3 Research Methodology

3.1 Research Process 20

3.2 Primary Research 21

3.3 Secondary Research 22

3.4 Market Size Estimation 22

3.5 Forecast Model 23

3.6 List of Assumptions 24

4 Market Dynamics

4.1 Overview 26

4.2 Drivers 27

4.2.1 Rising Demand for Fast and Economic Construction Techniques 27

4.2.2 Growing Construction of Commercial Buildings and Special Economic Zones (SEZs) in Developing Countries 27

4.2.3 Driver Impact Analysis 28

4.3 Restraint 28

4.3.1 Fluctuating Costs of Raw Materials 28

4.3.2 Restraint Impact Analysis 30

4.4 Opportunity 30

4.4.1 Increasing Awareness for Energy Efficient Infrastructure 30

5 Market Factor Analysis

5.1 Supply Chain Analysis 32

5.1.1 Procurement of Components 32

5.1.2 Assembly and Manufacturing 32

5.1.3 Finished Product 32

5.1.4 Distribution to End-Users 32

5.2 Porter’s Five Forces Model 33

5.3 Threat of New Entrants 34

5.3.1 Bargaining Power of Buyers 34

5.3.2 Bargaining Power of Suppliers 34

5.3.3 Threat of Substitutes 34

5.3.4 Intensity of Rivalry 34

6 Global Sandwich Panels Market, By Type

6.1 Overview 36

6.1.1 PUR/PIR sandwich panels 36

6.1.2 EPS Sandwich panels 36

6.1.3 Glass Wool 37

6.1.4 Rock Wool 37

6.1.5 Others 37

7 Global Sandwich Panels Market, By Application

7.1 Overview 40

7.1.1 Residential buildings 40

7.1.2 Commercial Buildings 40

7.1.3 Agricultural Buildings 41

7.1.4 Cold Storage 41

8 Global Sandwich Panels Market, By Region

8.1 Overview 44

8.2 North America 46

8.2.1 U.S. 49

8.2.2 Canada 51

8.3 Europe 53

8.3.1 Germany 57

8.3.2 U.K. 59

8.3.3 France 61

8.3.4 Rest of Europe 63

8.4 Asia-Pacific 65

8.4.1 China 69

8.4.2 India 71

8.4.3 Australia 73

8.4.4 Japan 75

8.4.5 South Korea 77

8.4.6 Rest of Asia-Pacific 79

8.5 Rest of the World 81

8.5.1 Middle East & Africa 84

8.5.2 Latin America 86

9 Competitive Landscape

9.1 Competitive Landscape 89

9.1.1 Growth Strategies Adopted by the key players 89

9.1.1.1 Mergers & Acquisitions 89

9.1.2 Market Share of the Major Competitors 90

10 Company Profiles

10.1 Kingspan Group 92

10.1.1 Company Overview 92

10.1.2 Financial Overview 92

10.1.3 Product Offered 93

10.1.4 Key Developments 93

10.1.5 SWOT Analysis 93

10.1.6 Key Strategy 94

10.2 MANNI GROUP 95

10.2.1 Company Overview 95

10.2.2 Financial Overview 95

10.2.3 Products Offered 96

10.2.4 Key Developments 96

10.2.5 SWOT Analysis 97

10.2.6 Key Strategy 97

10.3 Assan Panel A.Ş. 98

10.3.1 Company Overview 98

10.3.2 Financial Overview 98

10.3.3 Products Offered 98

10.3.4 Key Developments 99

10.3.5 SWOT Analysis 99

10.3.6 Key Strategy 99

10.4 NCI Building Systems Inc. 100

10.4.1 Company Overview 100

10.4.2 Financial Overview 100

10.4.3 Products Offered (METL SPAN) 101

10.4.4 Products Offered (CENTRIA) 102

10.4.5 Key Developments 102

10.4.6 SWOT Analysis 103

10.4.7 Key Strategy 103

10.5 Tata Steel Limited 104

10.5.1 Company Overview 104

10.5.2 Financial Overview 104

10.5.3 Products Offered 105

10.5.4 Key Developments 105

10.5.5 SWOT Analysis 106

10.5.6 Key Strategy 106

10.6 ArcelorMittal S.A. 107

10.6.1 Company Overview 107

10.6.2 Financial Overview 107

10.6.3 Products Offered 108

10.6.4 Key Developments 108

10.6.5 SWOT Analysis 108

10.6.6 Key Strategy 109

10.7 Nucor Corporation 110

10.7.1 Company Overview 110

10.7.2 Financial Overview 110

10.7.3 Products Offered 111

10.7.4 Key Developments 111

10.7.5 SWOT Analysis 111

10.7.6 Key Strategy 112

10.8 Romakowski GmbH & Co. KG 113

10.8.1 Company Overview 113

10.8.2 Financial Overview 113

10.8.3 Products Offered 113

10.8.4 Key Developments 113

10.8.5 SWOT Analysis 113

10.8.6 Key Strategy 114

10.9 Zhong Jie Group 115

10.9.1 Company Overview 115

10.9.2 Financial Overview 115

10.9.3 Products Offered 115

10.9.4 Key Developments 115

10.9.5 SWOT Analysis 115

10.9.6 Key Strategy 116

10.10 Building Component Solutions LLC 117

10.10.1 Company Overview 117

10.10.2 Financial Overview 117

10.10.3 Products Offered 117

10.10.4 Key Developments 117

10.10.5 SWOT Analysis 117

10.10.6 Key Strategy 117

10.11 Sintex 118

10.11.1 Company Overview 118

10.11.2 Financial Overview 118

10.11.3 Products Offered 118

10.11.4 Key Developments 119

10.11.5 SWOT Analysis 119

10.11.6 Key Strategy 119

10.12 DANA Group of Companies 120

10.12.1 Company Overview 120

10.12.2 Financial Overview 120

10.12.3 Products Offered 120

10.12.4 Key Developments 121

10.12.5 SWOT Analysis 121

10.12.6 Key Strategy 121

10.13 INVESPANEL SL 122

10.13.1 Company Overview 122

10.13.2 Financial Overview 122

10.13.3 Products Offered 122

10.13.4 Key Developments 123

10.13.5 SWOT Analysis 123

10.13.6 Key Strategy 123

10.14 Multicolor Steels India Pvt Ltd 124

10.14.1 Company Overview 124

10.14.2 Financial Overview 124

10.14.3 Products Offered 124

10.14.4 Key Developments 124

10.14.5 SWOT Analysis 124

10.14.6 Key Strategy 125

10.15 Hoesch Siegerlandwerke GmbH 126

10.15.1 Company Overview 126

10.15.2 Financial Overview 126

10.15.3 Products Offered 126

10.15.4 Key Developments 127

10.15.5 SWOT Analysis 127

10.15.6 Key Strategy 127


11 List of Tables

TABLE 1 MARKET SYNOPSIS 15

TABLE 2 LIST OF ASSUMPTIONS 24

TABLE 3 GLOBAL SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 38

TABLE 4 GLOBAL SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 42

TABLE 5 GLOBAL SANDWICH PANELS MARKET, BY REGION, 2020-2027 (USD MILLION) 45

TABLE 6 NORTH AMERICA SANDWICH PANELS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 46

TABLE 7 NORTH AMERICA: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 47

TABLE 8 NORTH AMERICA: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 48

TABLE 9 U.S.: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 49

TABLE 10 U.S.: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 50

TABLE 11 CANADA: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 51

TABLE 12 CANADA: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 52

TABLE 13 EUROPE SANDWICH PANELS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 54

TABLE 14 EUROPE: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 55

TABLE 15 EUROPE: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 56

TABLE 16 GERMANY: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 57

TABLE 17 GERMANY: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 58

TABLE 18 U.K.: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 59

TABLE 19 U.K.: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 60

TABLE 20 FRANCE: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 61

TABLE 21 FRANCE: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 62

TABLE 22 REST OF EUROPE: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 63

TABLE 23 REST OF EUROPE: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 64

TABLE 24 ASIA-PACIFIC SANDWICH PANELS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 66

TABLE 25 ASIA-PACIFIC: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 67

TABLE 26 ASIA-PACIFIC: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 68

TABLE 27 CHINA: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 69

TABLE 28 CHINA: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 70

TABLE 29 INDIA: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 71

TABLE 30 INDIA: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 72

TABLE 31 AUSTRALIA: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 73

TABLE 32 AUSTRALIA: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 74

TABLE 33 JAPAN: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 75

TABLE 34 JAPAN: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 76

TABLE 35 SOUTH KOREA: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 77

TABLE 36 SOUTH KOREA: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 78

TABLE 37 REST OF ASIA-PACIFIC: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 79

TABLE 38 REST OF ASIA-PACIFIC: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 80

TABLE 39 REST OF THE WORLD SANDWICH PANELS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 81

TABLE 40 REST OF THE WORLD: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 82

TABLE 41 REST OF THE WORLD: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 83

TABLE 42 MIDDLE EAST & AFRICA: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 84

TABLE 43 MIDDLE EAST & AFRICA: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 85

TABLE 44 LATIN AMERICA: SANDWICH PANELS MARKET, BY TYPE, 2020-2027 (USD MILLION) 86

TABLE 45 LATIN AMERICA: SANDWICH PANELS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 87


12 List of Figures

FIGURE 1 GLOBAL SANDWICH PANELS MARKET: MARKET STRUCTURE 17

FIGURE 2 KEY TAKEAWAYS FROM SANDWICH PANELS MARKET 18

FIGURE 3 RESEARCH PROCESS OF MRFR 20

FIGURE 4 TOP DOWN & BOTTOM UP APPROACH 23

FIGURE 5 DRO ANALYSIS: GLOBAL SANDWICH PANELS MARKET 26

FIGURE 6 DRIVERS IMPACT ANALYSIS: GLOBAL SANDWICH PANELS MARKET 28

FIGURE 7 GLOBAL HISTORIC AND FORECAST STEEL PRICES, 2020-2027 (USD/TONNE) 29

FIGURE 8 GLOBAL HISTORIC ALUMINIUM PRICES, 2020-2027 (USD/TONNE) 29

FIGURE 9 RESTRAINT IMPACT ANALYSIS: GLOBAL SANDWICH PANELS MARKET 30

FIGURE 10 SUPPLY CHAIN ANALYSIS 32

FIGURE 11 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL SANDWICH PANELS MARKET 33

FIGURE 12 GLOBAL SANDWICH PANELS MARKET, BY TYPE, 2020 (% SHARE) 37

FIGURE 13 GLOBAL SANDWICH PANELS MARKET, BY APPLICATION, 2020 (% SHARE) 41

FIGURE 14 GLOBAL SANDWICH PANELS MARKET, BY REGION, 2020 (% SHARE) 44

FIGURE 15 NORTH AMERICA SANDWICH PANELS MARKET, BY COUNTRY, 2020 (% SHARE) 46

FIGURE 16 EUROPE SANDWICH PANELS MARKET, BY COUNTRY, 2020 (% SHARE) 53

FIGURE 17 ASIA-PACIFIC SANDWICH PANELS MARKET, BY COUNTRY, 2020 (% SHARE) 65

FIGURE 18 REST OF THE WORLD SANDWICH PANELS MARKET, BY COUNTRY, 2020 (% SHARE) 81

FIGURE 19 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL SANDWICH PANELS MARKET, 2020-2027, (%) 89

FIGURE 20 MERGERS & ACQUISITIONS: % SHARE BY KEY PLAYERS, 2020-2027, (%) 89

FIGURE 21 MARKET SHARE OF MAJOR COMPETITORS 90

Sandwich Panel Market

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.

Segmentation

By Type Glass Wool Rock Wool
Application Commercial Buildings Agricultural Buildings
Region North America Europe Asia Pacific Rest Of The World

Key Players

  • DANA Group of Companies (UAE)
  • INVESPANEL SL (Spain)
  • Kingspan Group (Ireland)
  • 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)
  • Sintex (India)

Drivers

  • Housing
  • Industrial
  • Commercial buildings
  • Construction industry
  • Rising eco-awareness
  • Need for green buildings
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Sandwich Panel Market Overview


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.


The technological advancements in the sandwich panel industry such as enhancement of its fire resistivity will increase its market share. The Use of strong and sustainable panel materials like carbon fiber will make it suitable for use in different industries including the aerospace industry. Therefore, the market for these panels is expanding swiftly. 


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.


The demand for sandwich panels for making makeshift health care centers and mobile cabins but some respite to the market during covid times. Moreover, the market is showing positive signs of growth after the resumption of construction activities across the globe.


Competitive Landscape


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)

  • Sintex (India)


Market Dynamics


Drivers


Rapid infrastructure development across different regions is generating huge demand for sandwich panels. Their lightweight, durable, and insulation properties make them preferable modern construction materials. Therefore, the growth of the housing, industrial, and commercial buildings construction industry is boosting the growth of the Global sandwich panels market. The growing investment by different governments across the globe on the modernization of the agricultural sector by creating cold chains and warehousing structures is also generating significant demand for these panels.


The increasing advancements in sandwich panel Technology with the development of new and efficient core materials will provide favorable prospects for market growth. Therefore, with the increase in quality of these panels, the demand from the aircraft and transportation industry is also rising for making lightweight rigid structures. Moreover,  the increasing need for sustainable and energy-friendly construction materials is also likely to bolster the growth of the Global sandwich panels market.


Restraints


The less fire-resistant ability of sandwich panels as compared to other construction materials is likely to hamper its market growth.


Technology Analysis


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.


Sandwich panels are extensively used in modern commercial buildings, homes, and cold stores owing to their many benefits. These durable panels are cost-effective and require less maintenance. Moreover, they offer thermal insulation, sound insulation and are also resistant to fire. These materials are highly preferred for modern commercial buildings due to their attractive look, lightweight nature, and durability. Sandwich panels find extensive use in cold storage due to their weather-resistant and insulation properties.


Study Objectives


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.


Segment Analysis


Segmentation of the Global sandwich panels market, by Type



  • PUR/PIR Sandwich Panels

  • EPS Sandwich Panels

  • Glass Wool

  • Rock Wool

  • Others


The sandwich panels having Expanded Polystyrene ( EPS ) as their core material dominate the Global sandwich panels market. This dominance is due to its favorable properties like lightweight nature and better insulation. The EPS also provides better resistance to degradation by weather elements and from biotic damage. The EPS sandwich panels are hard and stiff, eligible as a good construction material.


Segmentation of the Global sandwich panels market, by skin material



  • Continuous Fibre Reinforced Thermoplastics (CFRT)

  • Fibreglass Reinforced Panel (FRP)

  • Aluminum

  • Steel

  • Others


Aluminum is the most popular skin material for sandwich panels. Aluminum is a lightweight metal that provides flexibility and easy formability to these panels.


Segmentation of the Global sandwich panels market, by application



  • Residential Buildings

  • Commercial Buildings

  • Agricultural Buildings

  • Cold Storage


The commercial building segment is the leading end-user of the Global sandwich panels market. Sandwich panels are being highly popular as modern construction material for commercial buildings. These panels are cost-effective lightweight and durable structures having thermal and acoustic insulation properties. Moreover, their easy installation advantage is increasing their demand for construction material.


Regional Analysis


The different regional markets for the global sandwich panels market are:



  • North America

    • US

    • Canada

    • Mexico





  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe





  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • Rest of Asia-Pacific





  • Rest of the world ( RoW )

    • The Middle East

    • Latin America

    • Africa




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.


The market in Europe and the Middle East will witness significant growth with the rise in demand for energy-conserving construction materials. The South American and African markets will see a moderate demand for sandwich panels over the forecast period.


Recent Developments



  • 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.


Intended Audience


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

  • Potential investors

  • End-user industries


Report Overview


This report provides an in-depth analysis of the sandwich panels market in terms of current value and future forecast. This report also highlights the problems and prospects of the given market.


Moreover, the technological analysis section of this report will greatly help in knowing the product and about its market prospects. Furthermore, this report contains a detailed analysis of different segments of the given market for the current forecast period. This report has also identified the key players and the current developments in the sandwich panels market.  



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 4.20 billion
  CAGR   8.85% CAGR (2022 to 2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Technology, by Application, by Material
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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), Sintex (India)
  Key Market Opportunities   High demand for infrastructure and buildings
  Key Market Drivers

  • Rising eco-awareness
  • Need for green buildings


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    Frequently Asked Questions (FAQ) :

    Hoesch Siegerlandwerke GmbH (Germany), Romakowski GmbH & Co. KG (Germany), Zhong Jie Group (China), MANNI Group (Italy), Nucor Corporation (U.S.), Multicolor Steels India Pvt Ltd. (India), Sintex (India), DANA Group of Companies (UAE), ArcelorMittal S.A. (U.S.)

    The global sandwich panels market is predicted to exhibit a 8.85% CAGR from 2020 to 2027 (forecast period) owing to the high demand among real estate developers.

    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.

    Factors such as the awareness of rising consumption of electricity and the need for energy-efficient procedures are likely to drive the demand for sandwich panels over the forecast period. Sandwich panels possess inherent properties of protection against unpredictable climes, durability, and high thermal insulation protection.

    Sandwich structures are light materials which show considerable stiffness and high ratio of strength in relation to weight. The main concept of the sandwich panel is that exterior surfaces transfer loads caused by bending (flexural load and compression), while the core transfers load caused by shearing.

    Rapid infrastructure development and construction of residential and commercial buildings across different regions are driving the growth of the sandwich panels market.

    North America is the largest regional market for sandwich panels owing to the greater prevalence of different manufacturing industries and the high demand for modern construction materials.

    Global Sandwich Panels Market- Competitive Landscape


    Market Research Future includes following key players for global sandwich panels market research study: Kingspan Group, Manni Group, Assan Panel A.Ş., NCI Building Systems Inc, Tata Steel Limited, ArcelorMittal S.A., Nucor Corporation, Romakowski GmbH & Co. KG, Zhong Jie Group, Building Component Solutions LLC, Sintex, DANA Group of Companies, Invespanel SL, Multicolor Steels India Pvt Ltd and Hoesch Siegerlandwerke GmbH.


    The market share analysis is derived by considering various factors such as financial position, segmental R&D investment, product innovations, corporate strength, product portfolio, strategy analysis, and, key innovations in the market among other factors. The major players holding prominent position in the Market are Kingspan Group, Manni Group, NCI Building Systems Inc, Tata Steel Limited and Nucor Corporation among others.


    According to MRFR analysis, Kingspan Group is currently leading the global industrial automation market with 33.9% market share. Kingspan is a leading sandwich panel provider with its network spread in over 120 countries. The sandwich panels from the company allow the users to easily install and maintain the equipment. The company as a key strategy is focusing on mergers and acquisitions to develop its product base and expand its services to more locations. 


    Tata Steel Limited is the second largest company offering sandwich panels with 16% of the total market share. The company is part of the Tata group, which can support the company both financially and managerially. The Tata group has its presence in over 50 countries across 5 continents. The company is the tenth largest producer of steel globally. The company in order to obtain a larger market share is focused on acquiring new assets.


    NCI Building System Inc. holds the third largest market share of the market with 12.9%. The company is focused on non-residential buildings. And has its production units in United States, Mexico, Canada, and China. The company offers a wide range of products for sandwich panels including fire resistant and sound proof. The company also has its sales offices in United States, Asia, Canada, and Europe.


    Manni Group holds the fourth largest market share with 7.4% of the global market. The company is in the business of production, processing and marketing of high-tech products. The company has 21 production units spread globally and works along with 14 companies to deliver its products. The company offers a range of diversified products. The company is constantly seeking opportunities to expand its services through mergers and acquisitions.


    Nucor Corporation holds 3.1% of the global market share. The company offers a wide portfolio of products. The company has its presence in over 50 countries. Additionally, the company also utilises recycled products for manufacturing. The company has heavily invested in processes to expand its company through acquisition.