Global Sandwich Panels Market Research, 2031
The Global Sandwich Panels Market Size was valued at $20.21 billion in 2021, and is projected to reach $39.16 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
A sandwich panel, is a composite material and is formed by filling insulation material between two metal surfaces. It is a light and durable construction materials used to clad roofs and external walls of the buildings as well as insulated internal walls and cold storages. It is a system that protects the building from external influences and provides a very convenient and economical solution for powerful stands. The end result is a structurally sound, energy-efficient, and cost-effective building system, which saves time, money, and labor.
Market Dynamics
Rise in construction activities across various regions such as Europe & Asia-Pacific and increase in demand for high appealing designs for buildings are expected to fuel the sandwich panel market growth. For instance, according to the German Construction Federation (ZDB) and the German Construction Industry Federation (HDB), 4% growth in the German construction sector reached to $124.45 billion from 2020 to 2022. Sandwich panels are used in the residential and commercial projects. Increase in urbanization and rise in industrialization result in rapid development of the economies, which boosts the demand for sandwich panel market. Increased urbanization is presently being witnessed in emerging countries such as China, India, and others, due to exponential growth in population. Thus, fast-paced urbanization results in increased government and consumer spending in residential and infrastructure construction, which significantly boosts the sandwich panels market opportunity.
Increase in awareness about energy-efficient buildings, improvement in thermal performance of sandwich panels is expected to boost the sandwich panels market growth. In addition, the implementation of stringent regulations toward energy conservation drives the growth of the sandwich panel market. Moreover, benefits associated with sandwich panels such as durability, chemical resistance, corrosion resistance, design flexibility, and high performance at elevated temperatures, are expected to boost the growth of the market. However, increase in cost of production due to expensive application techniques and fluctuations in the prices of raw materials hamper the market growth.
Major players have adopted various strategies such as product launch, acquisition and business expansion, to sustain the competition and improve their product portfolio. For instance, in January 2022, Nucor Corporation announced that it is expected to build its new state of the art sheet mill in Mason Country, West Virginia. It aims to strengthen its ability to serve customers in the Midwest and Northeast, in the U.S. When fully operational, the new mill is expected to employ approximately 800 full-time teammates.
The global sandwich panels market is segmented into End user, Product type and Application and region. On the basis of product type, the market is divided into polystyrene panels, polyurethane panels and polyisocyanurate panels, glass wool panels and others. On the basis of application, the market is divided into walls and floors, roofs and cold storage. On the basis of end-user, the market is divided into residential and non-residential. Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
On the basis of product type, the polystyrene panels segment generated the highest revenue in 2021, owing to their superior shock absorbing characteristic, enhanced thermal & noise insulating properties, and high strength to weight ratio.
On the basis of region, Asia-Pacific registered highest share of the global sandwich panels market share in terms of revenue in 2021, owing to rise in investment, increase in construction activities, and investments by the government. Furthermore, majority of the countries in the region are spending on the construction sector for the growth of their economies.
On the basis of end-user, the non-residential segment accounted for the highest revenue in the global market in 2021, owing to increase in construction of new commercial buildings and nonresidential projects in emerging economies
COMPETITION ANALYSIS
The key players that operate in the sandwich panels market are 3A Composites, Arcelor Mittal Construction, Arconic, Arpanel, Dana Group, Extreme Panel Technologies, INC., Fischer Profil GmbH, INGREEN SYSTEMS, ISOMEC SRL, Italpannelli, Jiangsu Jingxue Insulation Technology Co. Ltd., Kingspan Group, Marcegaglia, Metecno group, Nucor Corporation (Nucor Building Systems), Premier Building System, INC., and Rautarukki Corporation.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging global sandwich panels market trends and dynamics.
- In-depth global sandwich panels market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive analysis is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The sandwich panels market forecast analysis from 2022 to 2031 is included in the report.
- The key players within the sandwich panels market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of sandwich panels industry.
Global Sandwich Panels Market Report Highlights
| Aspects | Details |
 By End user |
|
 By Product type |
|
 By Application |
|
 By Region |
|
 Key Market Players | Rautarukki Corporation, Jiangsu Jingxue Insulation Technology Co. Ltd, Dana Group, Arconic Inc., Premier Building System Inc.,, ISOMEC SRL, Fischer Profil GmbH, Marcegaglia, Extreme Panel Technologies Inc., 3A Composites, Arcelor Mittal Construction, italpannelli srl, Metecno group, INGREEN SYSTEMS, Kingspan Group, Arpanel, Nucor Corporation |
Analyst Review
The sandwich panels market has observed huge demand in North America, Asia-Pacific, and Europe. Asia-Pacific is projected to register significant growth in near future due to rise in urbanization and surge in investment by the government authorities. Moreover, increase in awareness about building insulation materials to improve thermal performance of building and lower overall energy consumption in construction sector is expected to boost the demand for the sandwich panel market. The polystyrene panels segment accounted for majority of the market share in 2021, owing to their superior shock absorbing characteristic, enhanced thermal & noise insulating properties, and high strength to weight ratio.
Various market players have adopted strategies, such as product launch, business expansion, acquisition, and agreement, to expand their business and strengthen the market position. For instance, in May 2021, Rautarukki Corporation launched Ruukki Patina Panel, which combines energy saving with a patinated surface and is made from Cor-Ten steel. As a result, such strategic moves are expected to provide lucrative growth opportunities in the global sandwich panels market.
Increase in urbanization and rise in industrialization result in rapid development of the economies are the upcoming trends of Global Sandwich Panels Market in the world.
The non-residential is the leading end-user of Global Sandwich Panels Market.
Asia-Pacific is the largest regional market for Global Sandwich Panels.
The global sandwich panels market size was valued at $20,205.5 million in 2021.
3A Composites, Arcelor Mittal Construction, Arconic, Arpanel, Dana Group, Extreme Panel Technologies, INC., Fischer Profil GmbH, INGREEN SYSTEMS, ISOMEC SRL, Italpannelli, Jiangsu Jingxue Insulation Technology Co. Ltd., Kingspan Group, Marcegaglia, Metecno group, Nucor Corporation (Nucor Building Systems), Premier Building System, INC., and Rautarukki Corporation are the some of the key companies to hold the market share in Global Sandwich Panels.
The base year considered in the global sandwich panels market report is 2021.
The top 17 market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading 17 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
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