ID: MRFR/CO/6079-HCR | 100 Pages | Published By Snehal Singh on March 2023
The steel sandwich panel’s market growth is surging USD 1,097.70 million at a CAGR of 8.70% in the forecast period. The demand for energy-efficient buildings is increasing the need for steel sandwiches. The steel sandwich panel’s constructions are known as effective solutions. Temperature control and proper insulation control are possible with steel sandwich panels. Also, the aesthetics of the building is exceptional due to the use of this steel sandwich. Some of the important benefits of such a building are that fire conduction, acoustic insulation and weather protection. High durability and easy installations are possible with the steel sandwich. The focus on energy efficiency is immense in many regions. There are lots of benefits to the construction as well the environment with this concept. In many constructions, the traditional ways of insulation prove to be expansive and non-efficient. With the steel, sandwich efficiency is exceptional and also cost-effective. Increasing investment in energy-efficient buildings will create more growth opportunities. There are high investments from emerging economies. The surging infrastructural developments and awareness about energy efficiency are causing such development. All these are factors that will enhance the overall supply of the market. The demand for smart building constructions is expected to grow. The support of the government for energy efficiency will further increase demand.
The Prominent Players
Key players operating in the global steel sandwich panels market include -
Balex Metal SP Z.O.O.
Fischer Profil GmbH
Metecno Pty Ltd.
Omnis exteriors Ltd.
These major players have adopted various strategies to expand their global presence and increase their foothold in the global market. Some of the key strategies are expansions, investments, acquisitions, and securing contracts. The global steel sandwich panels market is highly competitive with many companies, across the globe
Geographically, the global steel sandwich panels market is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). Europe accounted for the largest market share of around 40% in 2017, followed by Asia-Pacific and North America, and is anticipated to retain its position till 2023. The demand for steel sandwich panels is mainly driven the governmental regulations regarding reducing greenhouse emissions, the need to improve the cost efficiency of the buildings, along with the adoption of the regulations regarding energy efficiency. Additionally, the presence of major steel sandwich panel manufacturers is in this region boosts the overall market growth further. For instance, Kingspan Group (Ireland) and Isomec (Italy) are some of the key manufacturers that contribute to the large share of Europe in the global steel sandwich market.
Asia-Pacific is the fastest growing region in the global market, owing to the growing infrastructure and construction industries and the increased urbanization and industrialization rates. Additionally, the governments of developing countries in Asia-Pacific also support investments in the construction industry through their FDI policies, which further influences the growth of the steel sandwich panels market. Asia-Pacific has a vast distribution channel, and all major manufacturers are focusing on expanding their business in this region as they expect to generate huge profits above the return-on-investment. Furthermore, the various beneficial energy efficiency policies are creating opportunities for the steel sandwich panels market in Asia-Pacific.Recent Development
In recent years the construction materials market is growing in China. The key players in the market are witnessing more demand and supply. The growth in the construction of logistics is raising the need for steel sandwiches.
The governmental initiatives that support steel sandwiches are increasing. Many governments rise to demand such steel sandwiches. The insulation and energy efficiency of this material is useful for building. They save energy and energy costs. Due to these reasons, new policies are expected to arise. Also, some governments promote the use of such materials.
The global steel sandwich panels market has been segmented based on type, application, and region. The type segment is classified into– EPS panels, PU panels, and PF panels. The application segment is classified into– residential, commercial, agricultural farmhouse buildings, and cold storage.
On the basis of type, the EPS panels segment is anticipated to witness a significant growth rate, as these panels are cost-effective and provide good thermal insulation, long lifespan, air-tightness, and low maintenance costs. Applications of EPS panels as insulation materials include sandwich panel systems, covered with steel on both sides, for walls, roofs, and floors as well as facades for both residential and commercial buildings. These features make EPS panels the dominating segment in the global steel sandwich panels market.
On the basis of application, the market is segmented into residential, commercial, agricultural farmhouse buildings, and cold storage. In 2017, the commercial segment accounted for the largest market share, which is expected to retain its position till 2023. This is attributed to the rapid development and expansion of offices, shopping malls, hospitals, and educational institutions mainly in emerging countries, such as China and India.
|Market Size||USD 1,097.70 million|
|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||Type, Application, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ArcelorMittal SA, Kingspan (UK), Isopan (Italy), Isomec SRL, Balex Metal SP Z.O.O., Fischer Profil GmbH, Silex, Metecno Pty Ltd., and Omnis exteriors Ltd.|
|Key Market Opportunities||
|Key Market Drivers||
Europe has the upperhand in the steel sandwich panels market.
Increasing government regulations would ensure better growth for steel sandwich panels market.
Asia Pacific would be the fastest-growing steel sandwich market.
The commercial segment has thelead in the steel sandwich panels market.
Kingspan (UK), ArcelorMittal SA, Metecno Pty Ltd., Isomec SRL, Isopan (Italy), Fischer Profil GmbH, Silex, Balex Metal SP Z.O.O., and Omnis exteriors Ltd.