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Sandwich Panel Market Segmentation, Application, Trends, Opportunity & Forecast 2019 To 2023

Global Sandwich Panel Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.

The global sandwich panels market is expecting to touch a valuation of USD 1,956.5 million by 2023, Market Research Future (MRFR) in their extensively studied report includes chief drivers and detailed study of segments to deliver reliable prediction about the market future. The growth of the construction industry and demand for sandwich panels in commercial buildings are factors anticipated to drive market growth over the forecast period (2018-2023).

Key players in the sandwich panels market include Romakowski GmbH & Co. KG (Germany), Hoesch Siegerlandwerke GmbH (Germany), Zhong Jie Group (China), Nucor Corporation (U.S.), MANNI Group (Italy), Multicolor Steels India Pvt Ltd. (India), DANA Group of Companies (UAE), Sintex (India), ArcelorMittal S.A. (U.S.), INVESPANEL SL (Spain), Assan Panel A.S. (Turkey), Kingspan Group (Ireland), NCI Building Systems Inc. (U.S.), Building Component Solutions LLC (Saudi Arabia), and Tata Steel Limited (India).

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Awareness of increasing consumption of electricity and need for energy-efficient measures are likely to spur the demand for sandwich panels. Sandwich panels possess inherent properties of durability, protection against unpredictable climes, and high thermal insulation protection. These are expected to drive the demand for these materials in the construction sector in the long run. Policies which support energy efficiency and reduce the production cost have created the growth opportunity for the sandwich panels market to expand its wings. Moreover, the need for energy efficient buildings which consume low levels of electricity to control greenhouse gas (GHG) emissions is also expected to bode well for the market.

The Sandwich Panel Market can be segmented by type and application.

By type, the market is segmented into EPS sandwich panels, polyurethane (PUR)/polyisocyanurate (PIR) sandwich panels, glass wool, rock wool, and others. Among these, the PUR/PIR segment accounted for 35.1% share in the sandwich panels market in 2017. Its size is predicted to scale to USD 717.5 million by 2023, at a CAGR of 7.81% during the assessment period. The EPS sandwich panel segment is the second-largest after PUR/PIR and can expand at a 7.29% CAGR over the forecast period. This can be credited to its lightweight nature and high durability.

Major applications include cold storage, industrial buildings, residential buildings, and commercial buildings. Cold storage is expected to register the fastest growth rate of 7.54% during the forecast period owing to the ability of sandwich panels to maintain the required room temperature in these buildings. The demand for these solutions in the Middle East which undergo longer durations of extreme heat is likely to bolster the segment size to USD 366.8 million by 2023. But the commercial buildings segment which accounted for 47.81% share in 2017 is expected to expand at a 7.12% CAGR during the assessment period.

The sandwich panels market covers the latest trends and opportunities across North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW).

Europe accounted for 43.28% market share in 2017. It is predicted to grow at a 7.13% CAGR over the forecast period to touch a valuation of USD 851.4 million by 2023. Government policies pushing for energy-efficient measures are likely to drive the market demand in the region. Retrofitting of sandwich panels in old buildings can considerably reduce the energy consumption levels and do its part in reducing the carbon footprint.

APAC stood at second position with close to 29.70% share in 2017. It is touted to expand at the highest CAGR of 7.49% during the assessment period. Factors facilitating the speedy growth are rapid industrialization and urbanization in developing economies, expansion of the construction sector, and push for green policies. Furthermore, the inflow of foreign direct investment (FDI) and the huge distribution channels of major manufacturers are likely to spur the regional sandwich panels market growth during the forecast period.

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