SHARE
Sandwich Panels Market

Sandwich Panels Market Forecasts to 2028 – Global Analysis By Type (Glass Wool, Rock Wool), Skin Material (Aluminum, Steel), Application (Façade Panels, Insulated Panels, Roof Panels) and By Geography

4.6 (52 reviews)
Published: May 2022 ID: SMRC21400
4.6 (52 reviews)
Published: May 2022 ID: SMRC21400

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Sandwich Panels Market is accounted for $1.73 billion in 2021 and is expected to reach $3.60 billion by 2028 growing at a CAGR of 11.0% during the forecast period. Sandwich panels can be designed as the construction materials manufactured by joining the layers of covering metals with insulating materials and binding agents. Its major ability is to protect against sound, extreme weather conditions, and sudden breakout of fires. Moreover, its durability and rapid installation owing to its simple design make it a viable choice over traditional roof panels.

Market Dynamics:

Driver:

Rising Demand for PVDF-Based Aluminum Composite Panels


Aluminum composite panels have been one of the popular building materials for cladding. The PVDF-based aluminum composite panel comes in several thicknesses. There are extensive uses of PVDF-based aluminum composite panels. PVDF-based aluminum composite panels integrate exceptionally high mechanical quality, permitting different modern applications. There is an increase in the use of different advanced and popular materials to construct buildings, homes, and offices. Numerous developing economies are focusing on creating new buildings and structures. PVDF-coated aluminum composite panels are increasingly used to decorate storefronts, shopping malls, industrial facilities, educational institutes, advertisement screens, signage, display systems, hospitals, and curtain wall cladding of buildings. Hence, the increasing demand for PVDF-based aluminum composite panels in different application sectors drives the market.

Restraint:

High Cost


The increasing costs of production, expensive application techniques, and fluctuations in the prices of raw materials hamper the market growth. Besides the material, the sandwich panel's price varies because of the application. They are used for roof coverings, internal and external walls, and floors of private, commercial, and industrial buildings. A Sandwich panel's price can vary based on different factors including the material, application, final use the number of layers used, and their thickness. The cost of the panels is always calculated per square meter.

Opportunity:

Growth in Infrastructural Activities


The rise of infrastructural projects, owing to the rapid development and industrialisation in developed and developing nations is the crucial factor responsible for the growth of the market industry. Additionally, the numerous advantages offered by the product, comprising thermal resistance, acoustic insulation, mechanical properties, impermeability, and fire behaviour, among others, are contributing to the growth of this market. Furthermore, improvements in the thermal performance of these panels and the implementation of stringent regulations towards energy conservation are also expected to create ample opportunity for the market.

Threat:

Less Fire-Resistant


The less fire-resistant ability of sandwich panels as compared to other construction materials is likely to threaten its market growth. Additionally, sandwich panels sometimes have poor sound insulation. The construction of the sandwich panels facilitates the transmission of sound into the interior of the building, so rain, hail, and other noises can quickly become exhausting.

Expanded Polystyrene (EPS) segment is expected to be the largest during the forecast period

This can be accredited to the cost-effectiveness and lightweight of EPS sandwich panels that have excellent insulation properties. It offers a minimum cost advantage of 20% in comparison to mineral wools, such as rock wool and glass wool. Furthermore, it has a low maintenance cost. These days’ sandwich panels with expanded polystyrene core are mostly preferred for inside and outside walls and roofs. With the growing popularity and acceptance of expanded polystyrene, new technologies and applications of the material will continue to evolve. These factors are expected to enhance the growth of the segment in the forecast period.

The construction segment is expected to have the highest CAGR during the forecast period

Due to the growing demand for industrialization, infrastructure construction, and residential construction in developing regions. Moreover, a large number of developing countries are in the middle of long-term infrastructure enhancement plans that necessitate large-scale demand for construction materials, such as sandwich panels.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, owing to the growing housing construction market, particularly in India and China. Moreover, low-interest rates for home mortgages have increased residential construction is the other key driving factor for the growth of the market in the Asia Pacific especially in India. Tax redemption is likely to drive the construction market of middle-class houses in Asia Pacific economies.

Region with highest CAGR:

North America is projected to have the highest CAGR. The rising demand for energy-saving construction materials in the industrial sector as well as growing retail chains is generating huge demand for these panels. North America is the largest regional market for sandwich panels. The greater dominance of different manufacturing industries and high demand for modern construction materials make this province an indisputable leader. Additionally, greater government focus on developing warehouses and cold chains will also propel the market growth here.

Key players in the market:

Some of the key players profiled in the Sandwich Panels Market include  Arcelor Mittal Construction, Areco, Assan Panel AS, Building Component Solutions LLC, Cornerstone Building Brands, Fischer Profil GmbH, Invespanel SL, ITALPANNELLI SRL, Kingspan Group, Paroc Group, Pioneer Coldstore & Cladding Pvt. Ltd, Rautaruukki Corporation, Safal Group, Tata Steel, and Vibgyor Steel, Nucor Corporation, LLENTAB Group.


Key developments:

In August 2021: Nucor Corporation, the leading steel, and steel products manufacturer announced the complete acquisition of Cornerstone Building Brands' insulated metal panels (IMP) business.

In June 2020: Tata Steel, announced that together with other Tata Group entities such as Tata Projects and Tata Consulting Engineers, has displayed both agility and collaborative spirit by working together on a 500-bed Greenfield hospital project in Kasargod, Kerala. For the first time in India, Tata Steel is employing Fibre Reinforced Polymer (FRP) to construct quarantine units in addition to steel.

In December 2020: Llentab, a maker and builder of steel buildings and ArcelorMittal Construction had signed an agreement, to acquire its Kungshamn panel production unit in Sweden. The plant, which makes mineral wool (MiWo) panels for steel buildings, complements ArcelorMittal Construction’s existing profile production lines in Sweden and will help the company compete in the Scandinavian market by providing its first-panel manufacturing capabilities in the region.

Types Covered: 
• Glass Wool           
• Rock Wool      

Skin Materials Covered:
• Aluminum          
• Continuous Fiber Reinforced Thermoplastics (CFRT)
• Fiberglass Reinforced Panel (FRP)        
• Steel   

Core Materials Covered:
• Expanded Polystyrene (EPS)         
• Mineral Wool          
• Polyisocyanurate (PIR)         
• Polyurethane (PUR) 
  
Applications Covered:
• Façade Panels          
• Insulated Panels          
• Roof Panels          
• Side Wall Paneling          
• Wall Panels     
   
End Users Covered:
• Agricultural Buildings         
• Aircraft           
• Automotive          
• Cold Storage          
• Commercial Buildings         
• Construction          
• Industrial           
• Institutional and Infrastructure        
• Packaging          
• Residential Buildings         
• Transportation          

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India        
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Select License Type

Allows one person to have access to the ordered product.The ordered product cannot be distributed to anyone else.
Allows the ordered product to be shared among a maximum of 5 people within your organisation.
Allows the product to be shared among all employees of your organisation at one particular location.
Allows the product to be shared among all employees of your organisation regardless of their geographical location.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials