PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1304646
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1304646
Sandwich panels Market size was valued at USD 21,008.9 million in 2022, expanding at a CAGR of 7.9% from 2023 to 2030.
Sandwich panels are a modular building material designed to cover buildings and structures. These panels consist of two layers that form the outer structure and ensure form, weather resistance, and rigidity. They contain a core that provides thermal and acoustic insulation properties. A sandwich panel is a product used to clad the walls and roofs of buildings. Each panel comprises a core of thermoregulation material, skin on both sides with sheet metal. Sandwich panels are not structural materials but curtain materials. It is suitable for both roofs and walls and thus is preferred over traditional concrete panels and roof panels. The main benefits are quick and easy installation, savings in investment, perfect thermal insulation, high fire resistance, the aesthetic appearance of buildings, noise-free buildings and air and water tightness.
Increase in awareness about energy-efficient buildings, and improvement in the thermal performance of sandwich panels are the factors that are expected to propel the market growth. Energy efficiency practices constitute one of the main pillars of reduced energy consumption. Improved energy efficiency and further access to renewable energy resources, and clean and energy-efficient technologies are of major importance for sustainable development efforts including climate action. According to international energy cooperation, in 2021 the operation of buildings accounted for 30% of global final energy consumption and 27% of total energy sector emissions1 (8% being direct emissions in buildings and 19% indirect emissions from the production of electricity and heat used in buildings). Continuous advancements in manufacturing processes, such as improved panel production techniques and automation, contribute to the growth opportunity for market growth. However, the high cost of raw materials hampers the growth of the market.
The Global Sandwich panels Market is segmented on the basis of Product Type, Application, Technology, and Region.
The market is divided into three categories based on Material type: Polyurethane (PUR), Polyisocyanurate (PIR), Mineral Wool, and Expanded Polystyrene. Expanded Polystyrene dominates the market. It has excellent thermal insulation properties, which help to reduce heat transfer through the building envelope.
The market is divided into two categories based on application: Wall Panels, Roof Panels, and Others. Wall panels refer to sandwich panels specifically designed for use in building walls. Roof panels are sandwich panels specifically designed for roofing applications. They are typically composed of two outer facings and core material, similar to wall panels.
The market is divided into two categories based on End-User: Residential and Non-Residential. Non-Residential dominates the market. Sandwich panels are commonly employed in non-residential buildings to form the building envelope. These panels offer thermal insulation, weather resistance, and structural integrity, contributing to energy efficiency and occupant comfort.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia Pacific is expected to dominate the growth of the Sandwich panels Market, due to rise in new construction & renovation activities of commercial spaces in the region. China's construction industry averaged 6.2% of GDP (equivalent) over the four quarters ending in the first quarter of this year. The value-added from this sector was CNY8 trillion in 2021. Construction grew only 2% in 2021, down from 4% in 2020, as residential real estate developers came under deleveraging reforms. According to estimates, overall investment in new infrastructure during the 14th Five-Year Plan period will reach roughly 27 trillion yuan (USD 4.2 trillion). The new plan emphasized 9 key items for energy efficiency and green building development; it also calls for retrofitting of over 350 million square meters of buildings and the construction of over 50 million square meters of net zero energy consumption buildings. Europe and Asia Pacific are expected to propel significant growth in the Sandwich panels Market, due to increasing the construction of industrial and commercial buildings.
The sandwich panel industry has grown significantly in recent years because of the numerous advantages offered by these composite structures. Continuous research and development efforts to enhance the performance and properties of sandwich panels can give a competitive advantage. Companies investing in advanced manufacturing processes, innovative materials, and efficient production techniques can differentiate themselves from competitors. To stay competitive, companies in the sandwich panels industry need to continuously monitor market trends, invest in research and development, maintain quality standards, optimize production processes, and provide excellent customer service. They also need to adapt to changing customer demands, technological advancements, and regulatory requirements to maintain their market position.
In October 2023, Kingspan Group, a global leader in building insulation solutions and construction systems innovation, expands its presence in Spain with the acquisition of Invespanel located in Fuenmayor (La Rioja).
This proposed research study on Sandwich panels market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The report provides the client the latest up-to-date and trending insights about the Sandwich panels market.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Sandwich panels market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Sandwich panels market
Impact of COVID-19 on Sandwich panels market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Sandwich panels market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Sandwich panels market, we have also included competitive landscape and key innovator analysis for the Sandwich panels market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Sandwich panels market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Sandwich panels market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows: