Global Sandwich Panels Market to Grow at a CAGR of 5.2% During 2024-2032, Driven by the Increase in Infrastructural Activities

The sandwich panel industry has been witnessing a considerable growth owing to the rise in infrastructural projects and high demand in the construction industry in developing and developed nations. In modern day construction, the use of high-performance materials is essential. When assessed with the concept of cost benefit analysis, sandwich panels are more economical than the conventional methods. Due to their easy installation process, sandwich panels prove to be cost-effective when compared to other wall assemblies. Other primary drivers for this market include the implementation of stringent regulations towards energy conservation, an increase in awareness about energy-efficient buildings, and improvement in the thermal performance of sandwich panels. All these factors are expected to significantly contribute to the demand for sandwich panels in the forecast period.

Institutional and infrastructure is one of the major end user industries driving the growth of the sandwich panel industry. These materials are lightweight, durable, and strong and can be used in a variety of applications. Further, many sandwich panel suppliers have their operation facilities and presence in North America to address the growing need of panels in the construction industry.

The growing partnerships and innovations in the industry are significantly contributing to the market expansion. In December 2019, ArcelorMittal (NYSE: MT), one of the key players in the industry, completed the acquisition of Essar Steel India Limited. The company has simultaneously established a joint venture with Nippon Steel, known as ArcelorMittal Nippon Steel India, which will own and operate Essar Steel. This acquisition will help the company to capture large profits in the steel industry. As aluminium and galvanised steel sheets are used in the metal layer of sandwich panels, such developments are expected to indirectly aid the sandwich panels industry growth by enhancing the steelmaking capacity of key players.

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Market Analysis by Core Material, Skin Material, Application, End Use Sector, and Region:

• Based on core material, the industry can be divided into polyurethane (PUR), polyisocyanurate (PIR), mineral wool, and expanded polystyrene (EPS), among others.
• The market on the basis of skin material can be divided into continuous fibre reinforced thermoplastics (CFRT), fibreglass reinforced panel (FRP), aluminium, and steel, among others.
• On the basis of application, the industry is categorised into wall panels, and roof panels, among others.
• Based on end use sector, the industry is divided into residential, commercial, industrial, and institutional and infrastructure.
• Region-wise, the global market for sandwich panels can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for sandwich panels is being driven by the growing demand for sandwich panels in the residential and commercial construction sector.
• The industry is receiving a further impetus with the growing investments in infrastructural projects due to the rapid urbanisation and industrialisation.
• The increasing demand for sandwich panels from the cold storage facilities is expected to further propel the market growth.
• The growing demand for less time-consuming construction solutions has significantly contributed to the market expansion.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for sandwich panels for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the core materials, skin materials, applications, end use sectors, and regions of sandwich panels.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global sandwich panels market are Kingspan Group, Tata Steel, Rautaruukki Corporation, ArcelorMittal Construction, ITALPANNELLI S.R.L., and DANA Group of Companies, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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