The sandwich panels market has experienced significant growth in recent years owing to increasing demand for low-cost and lightweight construction materials. Sandwich panels are prefabricated rigid and insulating panels made of a thermosetting resin core placed between and bonded to two thin metal facings. They are primarily used in wall and roof applications in commercial, industrial and residential buildings due their structurally strong, durable, weatherproof and energy efficient qualities.
The global sandwich panels market is estimated to be valued at US$ 9190.37 Mn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the sandwich panels market are ArcelorMittal Construction, Areco, Assan Panel AÅž, Building Components Solutions LLC, Cornerstone Building Brands, DANA Group of Companies, Kingspan Group, Multicolor Steels (India) Pvt Ltd, Rautaruukki Corporation, Safal Group., ITALPANNELLI SRL, Tata Steel, and Sintex.
Key opportunities in the market include increasing demand for eco-friendly insulation materials and rise of modular construction. The market is also witnessing expansion in emerging economies of Asia Pacific and Latin America driven by growing construction activities.
Global expansion of the sandwich panels market is supported by rising infrastructure development projects, rapid urbanization and growth in non-residential construction sector across major economies.
Market Drivers
The primary driver driving the growth of the global Sandwich Panels Market Size is the growing demand for cost-effective and lightweight construction materials from end-use industries such as commercial and industrial infrastructure. Sandwich panels provide strong structural support while being highly energy efficient and significantly lighter than conventional construction materials such as concrete and bricks. Their prefabricated form also accelerates construction timelines, thus reducing project costs. Increasing government investments and construction of green buildings will further fuel the adoption of these panels in the coming years.
PEST Analysis
Political: The sandwich panels market is impacted by supportive government policies and regulations for green construction which promote the adoption of energy efficient building materials like sandwich panels.
Economic: Rising disposable incomes, growing construction industry especially in developing nations are driving the demand for sandwich panels. However, high material costs and fluctuations in raw material prices pose challenges.
Social: Increasing awareness about environmentally friendly and sustainable building techniques is creating social acceptance for prefabricated housing and buildings made of sandwich panels. Rapid urbanization is also increasing the demand for affordable housing.
Technological: Automation in sandwich panel production processes has improved productivity and quality. Development of lighter and stronger core materials is enhancing the load bearing and insulation properties of sandwich panels. Use of robotics allows for precision cutting and assembling.
Geographical Regions of Concentration
The European region currently accounts for the largest share of the global Sandwich Panels Market Regional Analysis in terms of value, led by countries like Germany, UK, France etc. This is attributed to stringent regulatory environment and aggressive policies supporting green building practices.
Fastest Growing Regional Market
The Asia Pacific region is poised to be the fastest growing regional market during the forecast period, driven by factors like rapid urbanization, growing construction spending, availability of low cost labor and land and supportive government initiatives for infrastructure development in countries such as China, India.
Get more insights on- Sandwich Panels market
For Deeper Insights, Find the Report in the Language that You want.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
