ID: MRFR/CO/1034-CRR | October, 2018 | Region: Global | 123 pages | Cooked Research Reports
Global Sandwich Panels Market Information: by Type (Glass Wool, Rock Wool), Application (Commercial Buildings, Agricultural Buildings), and Region – Global Forecast Till 2023
Sandwich panels are construction materials manufactured by joining the layers of covering metals with insulating materials and binding agents. Its ability to protect against sound, extreme weather conditions, and sudden breakout of fires. Moreover, its durability and rapid installation owing to its simple design make it a viable choice over traditional roof panels.
The global sandwich panels market is predicted to exhibit a 7.04% CAGR from 2018 to 2023 (forecast period) owing to the high demand among real estate developers. Rise in infrastructural projects in developed and developing economies are likely to accelerate the market demand during the forecast period. Furthermore, the construction of special economic zones and commercial buildings owing to rapid industrialization is likely to augment the market size in the coming years.
The report provides an accurate overview of the market complete with statistical graphs to support the forecasted figures. Our analysts make astute predictions regarding the scope of the market and its future prospects. MRFR’s report includes a thorough analysis of the global sandwich panels market segmented according to type, application, and region. Numerous growth strategies undertaken by companies as well as the latest trends driving the market are outlined in the report. The market share of all prominent players and their current position in the market is discussed in minute detail. It analyzes new revenue sources for players and emphasize on the various strategies implemented by players.
By type, the global market is segmented into glass wool, rock wool, polyurethane (PR)/polyisocyanurate (PIR) sandwich panels, expanded polystyrene (EPS) sandwich panels, and others. Major market applications include residential buildings, commercial buildings, industrial buildings, and cold storage.
The segments covered in the sandwich panels market report are analyzed with respect to four main regions – North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW), with respective country-level market sizing. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market ladder.
Notable players in the sandwich panels market include 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), and Sintex (India).
The report offers comprehensive profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail.
At MRFR, our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of prominent beverage manufacturing companies. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner.
In addition, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.
For the scope of research, the report offers a comprehensive analysis of the global sandwich panels market.
Global Sandwich Panels Market – Summary
With construction sector witnessing unprecedented growth across the world, sandwich panels are fast becoming a much-desired construction material. Sandwich panels are perfect for temperature control and insulation and also complies with aesthetic requirements of developers. It further provides an easy and quick installation service. Sandwich panels protect buildings from weather conditions and fire, and long durability gives sandwich panels an edge to withstand the evolving market. The global sandwich panels market can expect a healthy 7.04% CAGR during the forecast period (2018-2023) and touch a market valuation of USD 1,956.5 million, reveals Market Research Future (MRFR) in an extensively studied report.
The construction sector is evolving at an enviable pace as high demand for infrastructure and buildings in the developing countries are pushing the sector ahead. Sandwich panels have created a niche for itself by exhibiting superior properties such as insulation and ability to withstand rough climate. Furthermore, it’s weight and cost work in favor of the construction sector and has made the segment popular with the energy sector, commercial buildings and cold storage. This can bring in high demand for the sandwich panels market over the forecast period.
Commercial buildings and special economic zones (SEZs) in developing countries are receiving much accolades from governments and investors. However, energy efficiency has become a thing to go for now as rising eco-awareness has spurred the need for green buildings. Sandwich panels are a perfect solution for that, hence, its inflating market demand.
On the flip side, what it lacks is the steady price of its raw materials. Aluminum and stainless steel have extensive use in the production of sandwich panels, but their prices in global market fluctuate quite rapidly making the sector vulnerable. This could prove pivotal in dampening the expected market growth during the forecast period.
By type, the sandwich panels market includes polyurethane (PUR) and polyisocyanurate (PIR) sandwich panels, expanded polystyrene (EPS), glass wool, rock wool, and others. PUR and PIR sandwich panels accounted for 35.1% of the global share. Its market valuation could easily scale USD 717.5 million by 2023 with the fastest CAGR of 7.81% during the forecast period. EPS would follow the lead with a projected valuation of USD 627.7 million by 2023 and 7.29% CAGR during the review period.
By application, the sandwich panels market comprises buildings such as residential, commercial, agricultural and cold storage. Commercial buildings account for 47.8% of the total market share. The predicted market value of commercial buildings can escalate to USD 940 million by 2023 with a CAGR of 7.12% over the review period. However, cold storage segment would register the fastest market growth of 7.54% during the assessment period.
Region-specific sandwich panels market includes namely four regions Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).
Europe, with 43.3% of the global market share is dominating the sandwich panels market. Its market value could easily touch a valuation of USD 851.4 million by 2023 with a healthy CAGR of 7.13% during the forecast period. Germany is spearheading the regional market with predicted market valuation of USD 491.3 million and a healthy CAGR of 7.13% during the same period.
Emerging economies in the APAC is providing enough prodding to the sector to make it the fastest growing region in the world. Its expected sandwich panels market value could scale valuation of USD 596.1 million by 2023 with the fastest CAGR of 7.49% during the forecast period. China can have the largest market share with USD 276.4 million valuation, whereas, India can expect the fastest CAGR of 8.64% during the forecast period.
North America can have a substantial market valuation of USD 370.8 million by 2023, with the U.S. playing a pivotal role in it with an expected USD 315.5 million valuation to support the regional growth.
The intense competition of the sandwich panels market can be attributed to strategies employed by different companies to cement their market position. For instance, Kingspan has allied with Jindal Megtec to expand their base to the Indian subcontinent. NCI building system merged recently with Ply Gem Parent, LLC to better the portfolio they wish to offer to their clients.
Market giants impacting 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), and others.
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.