by The sandwich panels market comprises panels that consist of two thin face sheets or metal skins separated by a layer of insulating material, usually rigid urethane or polyisocyanurate foam. These panels offer excellent thermal efficiency, noise insulation and durability for use in construction of walls and roofs in residential and commercial buildings. The inherent properties of sandwich panels such as their light weight, moisture resistant and airtight construction makes them a preferred choice for applications in warehouses, cold storage facilities and manufacturing plants where indoor temperature control is a priority.
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. The growing demand for insulation and energy efficient buildings is another key factor expected to drive the growth of sandwich panels market. With developing economies focusing on infrastructure development, the market for sandwich panels is expected to witness lucrative growth opportunities, especially in the Asia Pacific region over the coming years.
The growing popularity of green and energy efficient buildings is one of the key factors driving the demand for Sandwich Panels Market Size across the global construction industry. With strict new construction standards mandating minimal carbon footprint of structures, sandwich panels provide an economic solution to builders. In the residential sector, demand is spurred by consumer preference for well insulated homes that have lower utility bills. Additionally, industrial and commercial property developers are also focusing on installing highly insulated roof and walls to reduce long term operational costs of their facilities.
Market key trends
One of the primary trends fuelling the use of sandwich panels is their recyclability and sustainabilitycredentials. At the end of building life, sandwich panel materials can be reused or recycled without generating construction waste. Most panel variantscan berecycled multiple timesintotheir original componentmaterials like steel and insulation. This circular business model is attractive to builders who are under pressure to deliver eco-friendly solutions. The recyclable nature of sandwich panels is expected to support their rising market acceptance worldwide.
Porter’s Analysis
Threat of new entrants: Low capital requirements and brand recognition helps new players enter the market easily.
Bargaining power of buyers: Buyers have moderate to high bargaining power due to presence of large number of established players.
Bargaining power of suppliers: Suppliers of raw materials like steel, concrete etc. have moderate bargaining power due to availability of substitute materials.
Threat of new substitutes: Substitute materials like concrete panels pose low threat currently.
Competitive rivalry: Sandwich Panels Market Regional Analysis has large number of regional and international players competing on quality, design and price.
Geographical Regions
North America is currently the largest market for sandwich panels, accounting for over 30% of global value sales. This is due to high demand from construction sector for lightweight construction materials. Fastest growing region is expected to be Asia Pacific due to rising construction activities in countries like China, India. Factors like growing population, urbanization and economic growth are driving demand for residential and commercial buildings which is increasing usage of sandwich panels in this region.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
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, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
