The new report by Expert Market Research titled, ‘Global Sandwich Panels Market Share, Size, Trends, Outlook, Report and Forecast 2023-2028’, gives an in-depth analysis of the global sandwich panels market, assessing the market based on its segments like core material, skin material, application, end-use sector, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 12.9 billion
- Forecast CAGR (2023-2028): 5.3%
The Asia Pacific region is likely to offer good growth opportunities in the coming years for sandwich panel manufacturers. This can be attributed to an increase in residential and commercial construction activities, particularly in India and China.
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The market for sandwich panels is also to be driven by the ample advantages offered by their usages, such as fast and easy installation, thermal insulation, the aesthetic appearance of the building, high fire resistance, prevention from water leakage, and noise-free buildings.
Sandwich Panels Industry Definition and Major Segments
A sandwich panel is a structure that protects a building from external factors. It is used to clad the roofs and walls of buildings. Sandwich panels are curtain materials and not structural materials.
Installation of sandwich panels is relatively easy and takes significantly less time. For instance, 600 m2 of sandwich panels can be installed within 8 hours approximately.
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Based on the core material type, the sandwich panel market has been divided into:
- Polyurethane (PUR)
- Polyisocyanurate (PIR)
- Mineral Wool
- Expanded Polystyrene (EPS)
The market has also been segmented based on skin material type as:
- Continuous Fibre Reinforced Thermoplastics (CFRT)
- Fibreglass Reinforced Panel (FRP)
The report has considered two applications of sandwich panels:
- Wall Panels
- Roof Panels
Depending on the end-use sector, the sandwich panel market has been bifurcated as:
- Institutional and Infrastructure
The EMR report also provides an in-depth analysis of regional markets namely :
- North America
- Asia Pacific
- Latin America
- Middle East and Africa.
Sandwich Panels Market Trends
Market players are constantly investing in R&D activities to develop better products for the market. For instance, Pearl Polyurethane has launched a new R&D initiative to research and develop sandwich panels with improved insulation performance of up to 20% when compared to current industry standards.
Customers are also demanding high-quality and energy-efficient sandwich panels that provide savings in heating and air conditioning. Thus, the market is also to be supported by the increasing demand for energy-efficient commercial buildings.
Key Market Players
The major players in the market are Kingspan Group, Tata Steel, Rautaruukki Corporation, ArcelorMittal Construction, ITALPANNELLI S.R.L. and DANA Group of Companies.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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