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Sandwich Panel
Rapid urbanization has resulted in the increased demand for construction of special economic zones and commercial buildings
LOS ANGELES, CA, UNITED STATES, January 10, 2025 /EINPresswire / -- Sandwich Panel
market Size was valued at USD 1.8 Billion in 2022. The sandwich panel
industry is projected to grow from USD 1.95 Billion in 2023 to USD 3.861 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.85% during the forecast period (2023 - 2032).
A sandwich panel is a composite material crafted by layering insulation between metal surfaces. Known for its durability and lightweight properties, it is widely used for cladding external walls, roofing buildings, and insulating internal walls and cold storage facilities. This innovative system not only shields buildings from environmental factors but also offers a cost-effective and convenient solution for creating strong and energy-efficient structures. It minimizes construction costs, labor, and time, resulting in a sustainable and structurally reliable building.
The growing demand for cold storage facilities, driven by the need to extend the shelf life of perishable goods such as fresh seafood, agricultural produce, frozen food, pharmaceutical products, chemicals, and photographic films, significantly boosts the use of sandwich panels. Additionally, the expansion of food retail chains by multinational corporations has further fueled the need for advanced cold storage solutions. These trends are expected to drive the global demand for high-performance sandwich panels in the years ahead.
MRFR recognizes the following Sandwich Panel Companies - DANA Group of Companies (UAE),INVESPANEL SL (Spain),Kingspan Group (Ireland),Building Component Solutions LLC (Saudi Arabia),Nucor Corporation (U.S.),Assan Panel A.S. (Turkey),Hoesch Siegerlandwerke GmbH (Germany),ArcelorMittal S.A. (U.S.),MANNI Group (Italy),Zhong Jie Group (China),Romakowski GmbH & Co. KG (Germany),Tata Steel Limited (India),NCI Building Systems Inc. (U.S.),Multicolor Steels India Pvt Ltd. (India),Sintex (India)
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Market USP Covered:
Market Drivers:
Building and construction industry is one of the top end-users of sandwich panels. The rising use of the product in cladding, greenhouses, and skylight roofing will do wonders for the worldwide industry in the long run.
The Asia Pacific will be the biggest consumer of these panels in the near future, thanks to the substantial surge in product demand from the aerospace, construction, and automotive industries. The robust supply chain networks belonging to renowned players in the region, who are constantly striving to elevate their product ranges will ensure that the region continues to be one of the top consumers in the years to come.
Escalating funding in the sandwich panels industry by renowned companies and their focus on strengthening their supply chains to foster accessibility to the product will further favor the worldwide market. Numerous global multinational vendors are spending substantially on European markets.
Market Restraints:
The considerable production costs owing to the use of costly manufacturing technologies and the fluctuations in raw materials' prices will be a major growth-hampering factor in the following years, for the market.
Market Segmentation
By Type
The sandwich panel market is segmented by type into PUR/PIR Sandwich Panels, Glass Wool, Rock Wool, and Others, with the Glass Wool segment emerging as the dominant category. Glass wool is widely recognized as a key insulation material used in sandwich panels globally. These panels are composite structures composed of a core material for insulation and rigidity, flanked by two thin, durable facing sheets. They are extensively employed across residential, commercial, and industrial construction, as well as in refrigeration applications. Glass wool-based sandwich panels are particularly valued for their excellent insulation properties and low thermal conductivity, which minimize heat loss and enhance energy efficiency. This makes them an ideal choice for buildings in colder climates.
By Application
The sandwich panel market is segmented by application into residential buildings, commercial buildings, agricultural buildings, and cold storage. Among these, the residential buildings segment accounted for the highest revenue. Steel sandwich panels, including types such as polyurethane, glass wool, power factor, and mineral wool, are widely utilized across various applications. These include wall and roof insulation, interior and exterior decoration, sound and thermal insulation, among others. The growing global demand for residential buildings is a key driver fueling the increased adoption of steel sandwich panels.
By Skin Material
The sandwich panel market is segmented by skin material into Continuous Fibre Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP), Aluminum, Steel, and Others. Among these, the aluminum segment accounted for the highest revenue. Aluminum is the most widely used skin material for sandwich panels due to its thin, lightweight structure, which provides excellent flexibility and ease of formability.
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Regional Insights
The sandwich panel market is segmented by skin material into categories such as Continuous Fibre Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP), Aluminum, Steel, and Others. Among these, aluminum emerged as the leading segment in terms of revenue generation. Renowned for being a lightweight, thin metal, aluminum offers excellent flexibility and ease of formability, making it the most popular choice for sandwich panel skins.
Regionally, the market analysis covers North America, Europe, Asia-Pacific, and the Rest of the World. North America leads the global sandwich panel market, driven by the presence of numerous manufacturing companies and a robust demand for modern construction materials. The growing industrial need for energy-efficient building solutions and the expansion of retail chains significantly contribute to this demand. Additionally, government initiatives focused on developing cold chain infrastructure and warehouses are expected to further boost market growth in the region.
Regionally, US sandwich panel market held the largest market share in 2023, accounting for over XX% of the Non-honeycomb Sandwich Panel Core Material Market revenue.
Key countries analyzed in the market report include the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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