Growth opportunities in the Sandwich Panel Market look promising over the next six years. This is mainly due to the advancement in infrastructural projects and continuous upliftment in the construction sector.
Sandwich Panel Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global sandwich panel market is anticipated to experience a massive demand over the coming years due to the ongoing expansion in the construction sector, which stimulates the acquisition of these panels for the construction of the building. Also, the accelerating number of infrastructural projects, primarily in emerging and developed nations, will boost the market growth. The surging emphasis on the construction of special economic zones and commercial buildings led by swift industrialization will further strengthen the sandwich panel market size. Enormous prominent market players are largely involved in the establishment of these panels for the industrial and commercial construction segment. For example, Alucoil introduced Larcore ®, a sandwich panel with honeycomb core and aluminum skins agencies, in an uninterrupted industrial process.
The augmenting applications of structural insulated panels are a remarkable factor that is promoting market growth. Furthermore, these panels are made by incorporating the layers of metals with preventing materials. They are highly stable and can be installed faster owing to their uncomplicated design, which makes them more potential options than the conventional roof panels.
However, the unstable prices of raw materials will constrain the market growth. The construction industry has been adversely impacted by the widespread outbreak of coronavirus pandemic, especially in 2020. This factor has further restricted the market share. Nevertheless, the market is projected to recover by 2021 while growing at a considerable rate from 2021.
Application Segment Drivers
On the basis of application, wall panels are predicted to expand at a higher CAGR over the forecast period. This is because of the escalating demand for the modernization of residential structures owing to the enhancing living standards accompanied by the mounting disposable income. The panels with enlarged polystyrene core are progressively implemented in the construction of inside walls and floors.
Regional Drivers
Based on regional coverage, Asia Pacific is projected to expand at a faster CAGR during the forecast period. This is primarily attributed to the boost in demand for these solutions across the healthcare, retail, and telecommunication sectors. Moreover, As stated by the India Brand Equity Foundation (IBEF), e-commerce business in India is anticipated to reach US$ 99 billion by 2024, escalating at a CAGR of 27% over 2019. This will further bolster the market growth.
Sandwich Panel Market’s leading Manufacturers:
- Rautaruukki Corporation
- Kingspan Group
- DANA Group of Companies
- Building Component Solutions LLC
- ArcelorMittal Construction
- Multicolor Steels (India) Pvt Ltd.
- ITALPANNELLI SRL
- Cornerstone Building Brands
- Areco, Assan Panel A.S.
Sandwich Panel Market Segmentation:
Segmentation by Core Material
- Polyurethane (PUR)
- Polyisocyanurate (PIR)
- Mineral Wool
- Expanded Polystyrene (EPS)
- Other Core Materials
Segmentation by Skin Material
- Continuous Fiber Reinforced Thermoplastics (CFRT)
- Fiberglass Reinforced Panel (FRP)
- Aluminum
- Steel
- Other Skin Materials
Segmentation by Application
- Wall Panels
- Roof Panels
- Insulated Panels
- Other Applications
Segmentation by End-use Sector
- Residential
- Commercial
- Industrial
- Institutional and Infrastructure
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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