Global Sandwich Panel Market - Segmented by Core Material, End-User, Application, and Geography - Growth, Trends, and Forecast (2022 - 2030)

A sandwich panel consists of a core/insulating material of low density sandwiched between two layers of metal, bonded under pressure. The sandwich panel market is expected to witness a high growth rate during the forecast period, 2018 to 2023. The major end-user industries of sandwich panel market include industrial buildings, commercial buildings, cold storage facilities, warehouses, amongst others. Sandwich panels provide a quite level of thermal, sound, water insulation, and also prevents moisture condensation. Sandwich panel is more economical than the conventional methods when assessed with the concept of cost-benefit analysis. Increasing awareness about the energy efficient buildings, improvement in thermal performance of sandwich panels and implementation of stringent energy conservation regulations are expected to be the major drivers for the growth of sandwich panel market during the forecast period.

Growth in Building & Construction Industry Driving the Market
Buildings & construction is one of the major end-user industries driving the growth of sandwich panel market. With rapid industrialization in the emerging economies, the need for less time-consuming construction solutions is growing which in turn increases the demand for sandwich panels. Due to their easy installation property, sandwich panels are cost-effective and inexpensive when compared to other wall assemblies. The average growth in the global construction spending has been recorded at 8.1% in the last five years. The non-residential construction spending has increased to 4.1% in 2016, and this trend is expected to continue in the coming years. Increasing adoption of the sandwich panels for residential, commercial, and infrastructure development is expected to boost the market in the coming years.

Asia-Pacific is one of the Largest Market
Asia-Pacific has emerged as one of the largest sandwich panel markets in the recent years. With the rise in urbanization and megacities in the emerging economies across the region has resulted in the demand for the sandwich panels. Driven by changing demographic trends, Asia-Pacific increasing investments in transportation and manufacturing infrastructure are expected to boost the sandwich panel market in the coming years. In 2014, China reached a construction market share of 47% in the Asia-Pacific region followed by Japan (18%) and India (10%).Building & construction projects in this region is expected to double and to become a 6.7 trillion USD business by 2020. Emerging markets such as China and India present a great opportunity for the producers of sandwich panels.

The US– A Huge Market Potential
The US is one the largest construction market worldwide, with it expenditures reaching over 1,231 billion USD in 2017. The demand for sandwich panels is dependent on the construction spending. After the recession in 2011, construction projects have now accelerated their progress once again. Positive trends in the residential market are expected to be the major drivers of the construction industry growth. The new constructions put in place is expected to reach over 1.4 trillion USD by 2021. Due to the increase in building & construction, cold storage units and concerns regarding aging infrastructure, the sandwich panels market is expected to witness a high growth rate in this region.

Key Developments in the Market
April, 2018: Areco has announced the acquisition of the Finnish sandwich panel manufacturer TPE Spirit Oy and continues its Nordic expansion. This acquisition is expected to open up opportunities to a greater market share in the Nordic, Baltic, and northern German non-residential property market.
June, 2017: Multicolor Steels (India) Pvt. Ltd. is the first Indian roofing company to enter Limca Book of Records for fabrication and installation of 164.2 meters single length joint-less standing seam roofing system at new airport terminal of Vadodara Airport.

The major players include – Safal Group, Paroc Panel System Oy Ab, Rautaruukki Corporation, DANA Group of Companies, Building Components Solutions LLC., Multicolor Steels (India) Pvt. Ltd., ArcelorMittal Construction, Areco, Assan Panel A.S., Balex Metal Sp. z o.o., amongst others.

Reasons to Purchase This Report

Current and future sandwich panel market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market share, and strategies employed by the major market players.
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This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

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