The construction industry has witnessed significant growth in the past few years, owing to an increase in demand for the buildings that deploy energy efficient materials. Steel sandwich panels are construction materials that are proven to be effective solutions for temperature control and insulation while also meeting aesthetic requirements. These panels not only offers a range of benefits to the buildings including protection against weather conditions, acoustic insulation, and fire protection but also provides easy and quick installation and extended durability. Steel sandwich panels are preferred over the traditional roof panels and concrete panels as these panels are energy efficient and help in reducing the time required to complete the construction projects. Since the focus on energy efficiency and economic feasibility in the construction industry has increased, the market for steel sandwich panels is anticipated to witness a sustainable growth rate over the forecast period.
In the global construction industry, steel sandwich panels are witnessing an increased adoption rate in the past few years as these panels offer cost-effectiveness in the investment of construction buildings, thus creating opportunities for the manufacturers.
Key players operating in the global steel sandwich panels market include 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.
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
Global Steel Sandwich Panels Market: Regional Analysis
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.
Global Steel Sandwich Panels Market: Segmentation
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||2027: Significant Value|
|CAGR||Substantial CAGR (2020-2027)|
|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||
Frequently Asked Questions (FAQ) :
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.