How To Make More Sandwich Panels Market By Doing Less

High growth in the building & construction industry globally is the major driving factor for the growth of the market globally. The rise in disposable incomes, and the increase in the middle-class population, have supported expansion in the middle-class housing segment globally, thus, increasing the use of construction chemicals during the forecast period.

According to the We Forum Organization, the global total annual revenues accounted for around US$ 10 trillion and are increasing to around value of US$ 3.6 trillion every year, the construction industry accounted for about 6% of global GDP. It created a massive demand for insulated panels in this industry. The demand for apartments, penthouses, villas, and bungalows in gated communities, with world-class designs and amenities, is growing rapidly. The developers are launching projects to cater to such demands.

Sandwich panel construction techniques have experienced considerable development in the last 40 years. They generally have good energy efficiency and sustainability. In building and construction, these prefabricated products are designed for use as building envelopes. They appear in industrial and office buildings, in clean and cold rooms, and also in private houses, whether renovation or new-build. They combined a high-quality product with high flexibility regarding design. Previously, sandwich panels were considered products suitable only for functional constructions and industrial buildings

However, their good insulation characteristics, versatility, quality, and appealing visual appearance, have resulted in a growing and widespread use of the panels across a huge variety of buildings. The major advantage of these sandwich panels in construction is they can be relocated to accommodate building expansion. The rise in demand for eco-friendly natural materials including mineral wools, and bio-based plastics for the building & construction acoustic applications have propelled the sandwich panel market.

The demand for pre-engineered buildings in Europe has drastically increased due to rising awareness about green buildings have less pollution and have reduced greenhouse gas emissions. For instance, as per the World Green Building Trend Report in 2018, the United Kingdom has 27% running green building projects, and is expected to increase to 40% by 2021 for green building. This propels the demand for mineral wool materials used for manufacturing sandwich panels which helps to combat the pollution. Growing positive attitude towards building & construction outlook with the help of acoustic insulation materials has propelled the demand for sandwich panels.

The commercial segment in the global sandwich panel market was valued at US$ 4,217.94 million in 2021 and it is estimated to grow at a CAGR of 8.80% in the forecast period to reach a market value of US$ 5,802.63 million by 2029.

The commercial applications of sandwich panels include commercial showrooms, aircraft hangers, enclosed sports facilities, restaurants, schools, airport terminals, museums, theatres, shopping malls, and many others. The current mandate by commercial units today is to adopt sustainable technologies and save energy costs. Thus, sandwich panels provide respective features and boost greater energy efficiency, and add customer value to business owners.

Increasing interests among major construction companies towards the adoption of sustainable insulated panels associated with growing investments by the respective end-user companies are the primary factor driving the commercial segment in the global sandwich panel market globally during the forecast period. Minimal energy consumption and the presence of high temperature and fire resistance over traditional concrete-based structures are additionally boosting the demand for sand panels globally during the forecast period.

Additionally, Low-construction time and suitable government policies toward installations of sandwich panels over the steel/metal frames or traditional concrete structures are expected to boost the sandwich panels market globally during the forecast period. Currently, Major government funded-sport and recreation centers under construction are utilizing sandwich panel technology for various exterior structures to decrease the energy expense and improve air-conditioning facilities across units. Adopting prefabricated sandwich panels will decrease the construction time, and labor cost and improve the customer reach time.

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