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Sandwich Panels Market Size & Share, By Product (Polystyrene Panels, Polyurethane Panels), Application, End-use, Regional Forecast, Industry Players, Growth Statistics 2023-2030

Report ID: FBI 1032

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Published Date: Jul-2023

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Format : PDF, Excel

Market Outlook:

Sandwich Panels Market size surpassed USD 918.4 Million in 2022 and is poised to reach USD 1.35 Million, growing at over 4.3% CAGR between 2023 and 2030. With the rising demand from various industries such as construction, automotive, and aerospace, the market valuation of sandwich panels is projected to expand at a considerable rate.

Base Year Value (2022)

USD 918.4 Million

18-23 x.x %
24-33 x.x %

CAGR (2023 - 2030)

4.3%

18-23 x.x %
24-33 x.x %

Forecast Year Value (2030)

USD 1.35 Million

18-23 x.x %
24-33 x.x %
Sandwich Panels Market

Historical Data Period

2018 - 2021

Sandwich Panels Market

Largest Region

North America

Sandwich Panels Market

Forecast Period

2023 - 2030

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Market Dynamics:

Growth Drivers and Opportunities:

1. Increasing Construction Activities: The growing construction industry, particularly in emerging economies, is driving the demand for sandwich panels. These panels find extensive usage in building facades, roofs, walls, and partitions, offering energy efficiency, durability, and aesthetic appeal.

2. Energy Efficiency and Environmental Concerns: Sandwich panels are widely preferred due to their excellent insulation properties, which contribute to energy efficiency in buildings. Additionally, these panels help in reducing carbon emissions, thus promoting sustainable construction practices.

3. Technological Advancements: Continuous technological advancements in the manufacturing of sandwich panels have led to the development of lightweight and high-performance variants. This has widened the scope of applications and increased product adoption.

4. Rapid Industrialization: The industrial sector, including automotive, aerospace, and cold storage warehouses, is witnessing substantial growth across the globe. This surge in industrialization is anticipated to augment the demand for sandwich panels, owing to their structural integrity, thermal insulation, and fire resistance properties.

Report Scope

Report CoverageDetails
Segments CoveredProduct, Application, End-Use
Regions Covered•North America (United States, Canada, Mexico), • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC), • Latin America (Argentina, Brazil, Rest of South America), • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledKingspan Group, Owens Corning, Isopan, PFB Corporation, METECNO GROUP, Green Span Profiles, American Insulated Panel, Metl-Span, KPS Global, Dana Group of Companies, American Buildings Company, INGREEN BUILDING SYSTEMS., Structural Panels Inc., Hemsec Manufacturing Ltd., FischerSIPS

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Industry Restraints and Challenges:

1. Fluctuating Raw Material Prices: Sandwich panels require specialized raw materials such as polyurethane foam, polystyrene, and mineral wool, among others. Fluctuations in the prices of these raw materials can significantly affect the manufacturing costs of sandwich panels, posing challenges for market growth.

2. Stringent Government Regulations: The sandwich panel industry is subject to stringent regulations related to fire safety, energy efficiency, and environmental standards. Compliance with these regulations often increases manufacturing costs, thereby hampering market growth.

3. Volatile Economic Conditions: Economic uncertainties and fluctuations in exchange rates negatively impact construction activities and industrial growth, which, in turn, can limit the demand for sandwich panels.

In conclusion, the global sandwich panels market is expected to grow steadily in the coming years, primarily driven by the increasing construction activities, energy efficiency concerns, technological advancements, and rapid industrialization. However, challenges such as fluctuating raw material prices, stringent regulations, and volatile economic conditions may pose hurdles to market expansion.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Sandwich Panels Market
Sandwich Panels Market

Regional Forecast:

The global sandwich panels market is expected to witness significant growth in the coming years, with North America, Asia Pacific, and Europe emerging as the key regional markets.

North America

In North America, the demand for sandwich panels is primarily driven by the construction industry. The region's growing focus on sustainable and energy-efficient building materials is propelling the adoption of sandwich panels. Moreover, the increasing investment in infrastructure development and renovation projects is further contributing to the market growth in this region.

Asia Pacific

In Asia Pacific, rapid industrialization, urbanization, and infrastructure development are key factors fueling the demand for sandwich panels. Countries like China and India are witnessing a substantial increase in the construction of commercial and residential buildings, thereby driving the market growth. Additionally, the government's initiatives to promote sustainable construction practices are expected to propel the market growth in this region.

Europe

Europe is another significant market for sandwich panels, driven by stringent building regulations and the need for energy-efficient solutions. The growing demand for green buildings, coupled with the increasing emphasis on reducing carbon emissions, is fueling the adoption of sandwich panels in this region. Furthermore, the presence of major construction and automotive industries in countries like Germany and Italy is contributing to the market expansion.

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Segmentation Analysis:

The sandwich panels market can be segmented based on the following factors:

1. Material Type:

a) Polyurethane (PUR) sandwich panels: These panels offer excellent thermal insulation properties and are widely used in applications requiring temperature control, such as cold storage facilities and refrigerated transportation.

2. Skin Material:

a) Steel sandwich panels: Steel skin sandwich panels are known for their durability, strength, and resistance to corrosion. They are extensively utilized in industrial and commercial construction projects.

3. Application:

a) Building and Construction: Sandwich panels find extensive usage in the construction industry for applications such as roof panels, wall cladding, and floor systems. These panels enable faster and cost-effective construction while offering excellent thermal insulation properties.

4. End-Use Industry:

a) Industrial: Sandwich panels are commonly used in industrial applications, including warehouses, factories, and logistics centers. Their lightweight yet robust design, along with insulation properties, make them an ideal choice for industrial construction projects.

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Competitive Landscape:

The sandwich panels market features a competitive landscape with several market players striving to capture a significant share. Some prominent players in the market include:

1. Kingspan Group plc

2. Metecno SpA

3. Assan Panel A.S.

4. Paroc Group

5. Tata Steel Europe

6. NCI Building Systems, Inc.

7. ArcelorMittal Construction

8. Ruukki Construction

9. Nucor Corporation

10. Huntsman International LLC

These market players emphasize product innovation, strategic collaborations, and mergers and acquisitions to strengthen their market position and expand their customer base. The competitive landscape of the sandwich panels market showcases the intense competition prevailing in the industry, highlighting the efforts made by market players to cater to the evolving customer demands and gain a competitive edge.

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Sandwich Panels Market Size & Share, By Product (P...

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