The global sandwich panels market is predicted to garner a stellar CAGR of 7.04%, surpassing a valuation of USD 1,956.5 million during the forecast period (2018-2023). Sandwich panels can be defined as construction materials which are manufactured by joining the layers of covering metals with the binding agents and insulating materials. The panels consist of an insulating or core material of the low density, which is sandwiched among the two layers of metal and is bonded under pressure.
The notable players dominating the global sandwich panels market comprises INVESPANEL SL (Spain), DANA Group of Companies (UAE), Building Component Solutions LLC (Saudi Arabia), Kingspan Group (Ireland), Assan Panel A.S. (Turkey), Nucor Corporation (U.S.), ArcelorMittal S.A. (U.S.), Hoesch Siegerlandwerke GmbH (Germany), Zhong Jie Group (China), MANNI Group (Italy), Tata Steel Limited (India), Romakowski GmbH & Co. KG (Germany), Multicolor Steels India Pvt Ltd. (India), NCI Building Systems Inc. (U.S.), and Sintex (India).
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Market Potential and Pitfalls
The sandwich panels market has witnessed a tectonic surge over the past few years with the booming construction sector, which has observed unprecedented growth across the globe. Sandwich panels are ideal for insulation and temperature control and comply with the aesthetic requirements of the developers. Sandwich panels also offer a quick and easy installation service and also protect the buildings from extreme weather conditions and fire. The durability of the panels offers an edge to withstand the global market. Such benefits of sandwich panels are triggering its demand across the globe. With the construction sector evolving at an enviable pace, the demand for buildings and infrastructures are increasing at a tremendous rate, which is further pushing the sector ahead. The cost work and weight in favor of the construction sector have made the market prominent among the commercial buildings, energy sector, and cold storage. Such factors are estimated to trigger its demand in the coming years.
On the contrary, the steady price of its raw materials is considered to dampen its growth across the globe. Stainless steel and aluminum are extensively used in the production of sandwich panels. But the prices of these raw materials fluctuate rapidly, which makes the sector vulnerable.
May 10, 2019: Sicomin has recently announced that the company has offered epoxy resins for a flying car concept which has been designed by the graduates of the Royal College of Art Intelligent Mobility program. ENATA Aerospace has manufactured it. Sicomin has used the robotic milling capability to mill a set of 32 molds which were used in the manufacturing of the car body. The external surface sandwich panels were molded from ultra-thin black carbon fiber non-crimp fabric and low-density PEI foam.
Global Sandwich Panels Market: Segmental Analysis
The Sandwich Panel Market is segmented on the basis of type and application.
By mode of type, the sandwich panels market is segmented on the basis of polyurethane (PUR)/polyisocyanurate (PIR) sandwich panels, rock wool, expanded polystyrene (EPS) sandwich panels, and others. Among these, the PIR and PUR segment acquires a share of 35.1%. The segment is likely to touch a valuation of USD 717.5 million, registering the fastest CAGR of 7.81%. EPS closely follows PUR and PIR panels and is predicted to surpass a valuation of USD 627.7 million in the coming years.
Market applications comprise commercial buildings, residential buildings, cold storage, and industrial buildings. Among these, the cold storage segment is predicted to register the fastest growth rate of 7.54% due to the capacity of sandwich panels to maintain the room temperature required in the buildings.
Geographically, the sandwich panels market span across Europe, Asia Pacific, North America, and Rest-of-the-World (RoW).
Considering the global scenario, Europe acquires the lion’s share with 43.3%. The region is anticipated to touch a valuation of USD 851.4 million, demonstrating a CAGR of 7.13% in the coming years. In this region, Germany is spearheading the market with a valuation of USD 491.3 million and a CAGR of 7.13%. Energy-efficient measures undertaken by the government are pushing the market growth. Moreover, retrofitting of sandwich panels in old buildings can lower the level of energy consumption, besides minimizing the carbon footprint. Such factors are likely to dictate the growth trajectory of the regional market.
An emerging nation in the Asia Pacific region is offering enough prodding to the sector in order to make it the fastest expanding region. Sandwich panels market is expected to touch a valuation of USD 596.1 million, registering the fastest CAGR of 7.49%. China is considered to have the largest market share with a valuation of USD 276.4 million. Meanwhile, the sandwich panels market in India is anticipated to showcase the fastest CAGR of 8.64% in the long run. The APAC region bags the second spot due to rapid industrialization and urbanization, especially in the developing countries, push for green policies, and expansion of the construction sector. The immense distribution channels of the key manufacturers and inflow of FDI are anticipated to push the region growth uphill.
The North American region is expected to touch a valuation of USD 370.8 million by the end of the appraisal period with the U.S. playing the major role. The regional market is predicted to touch a valuation of USD 315.5 million to support the growth.
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List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Sandwich Panels Market, by Type, 2012-2023 (Usd Million)
Table 4 Global Sandwich Panels Market, by Application, 2012-2023 (Usd Million)
Table 5 Global Sandwich Panels Market, by Region, 2012-2023 (Usd Million)
Table 6 North America Sandwich Panels Market, by Country, 2012-2023 (Usd Million)
Table 7 North America: Sandwich Panels Market, by Type, 2012-2023 (Usd Million)
Table 8 North America: Sandwich Panels Market, by Application, 2012-2023 (Usd Million)
Table 9 U.s.: Sandwich Panels Market, by Type, 2012-2023 (Usd Million)
Table 10 U.s.: Sandwich Panels Market, by Application, 2012-2023 (Usd Million)
List of Figures
Figure 1 Global Sandwich Panels Market: Market Structure
Figure 2 Key Takeaways From Sandwich Panels Market
Figure 3 Research Process of Mrfr
Figure 4 Top Down & Bottom Up Approach
Figure 5 Dro Analysis: Global Sandwich Panels Market
Figure 6 Drivers Impact Analysis: Global Sandwich Panels Market
Figure 7 Global Historic and Forecast Steel Prices, 2010-2019 (Usd/tonne)
Figure 8 Global Historic Aluminium Prices, 2010-2017 (Usd/tonne)
Figure 9 Restraint Impact Analysis: Global Sandwich Panels Market
Figure 10 Supply Chain Analysis
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