ID: MRFR/CO/1034-CR | 123 Pages | Published By Varsha More on February 2020
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.
$4.20 Billion
8.85%
North America
2022-2030
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 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.
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.
The less fire-resistant ability of sandwich panels as compared to other construction materials is likely to hamper its market growth.
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.
The specific objectives of this market report on the global sandwich panels market are given below:
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.
Aluminum is the most popular skin material for sandwich panels. Aluminum is a lightweight metal that provides flexibility and easy formability to these panels.
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.
The different regional markets for the global sandwich panels market are:
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.
This report will be beneficial for every stakeholder of the sandwich panels market such as :
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 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 | 2019Â &Â 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 |
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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 2022 to 2030 (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.