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

Sandwich Panels Market Overview

The Sandwich Panels Market size 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 the 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 research.


• 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.