How To Buy A Sandwich Panels Market On A Shoestring Budget

Market Overview

Sandwich panels are modern prefabricated construction components used as cladding elements for different types of buildings. These are construction materials manufactured by joining the layers of covering metals with insulating materials and binding agents.  Its ability to protect against sound, extreme weather conditions, and sudden breakout of fires.  Moreover, its durability and rapid installation owing to its simple design make it a viable choice over traditional roof panels.

The global sandwich panel market is valued at US$ 5,912.12 Million in 2021 and is estimated to grow at a CAGR of 8.75% over the forecast period to reach US$  7,857.00 Million by 2029.

Sandwich panels allow a wide range of profiles and colors and buildings with a high-class, modern look are typically obtained. Rapid industrialization and urbanization in developing countries such as Poland and Mexico are some of the primary factors for market growth. From factories to stadiums, from malls to swimming pools, the sandwich panel is a durable and economical solution for many buildings.

Market Dynamics

Drivers

• Strong growth in the Pre-Engineered Buildings (PEB) in Europe, environment-friendly nature, and positive outlook in acoustic insulation applications

• Improvement in thermal performance of sandwich panels

• Rising demand for the mineral wool materials due to the surge in the drastic change in climate scenario around the globe as mineral wool contributes hugely to combat climate change

• Increasing Demand for Energy Efficient Buildings with the surge in the government schemes & support for the building & construction sector

Restraints

• High  production cost and fluctuation in raw material price

• Limited awareness regarding green building norms and construction sector crisis in Europe

Market Segmentation

The facade Panels segment holds 12.80% of the market share in 2021 and is expected to be 13.09% by 2029, for the global sandwich panels market by application.

Facade panels are a cost-effective building solution and offer thermal insulation and fire protection. They may come with one face perforated to achieve better sound absorption and noise reduction values. Insulated metal panel from mineral wool used in facade cladding. Fixings between panels are hidden to achieve an aesthetic finishing. Facades are considered to be the multifunctional skin of a building. Their design is based on four different aspects like structural mechanics, building physics, specific material knowledge, and detail design. Facade systems are lightweight and sandwich panels are no exception. Besides being lightweight, the sandwich panels contain thermal insulation on the inside which is very reliable. This tight isolation will make warmth stay inside or outside the building, maintaining the right temperature within the building itself. Rautaruukki Corporation has launched sandwich panels that are used particularly in Façade systems. Adding to this, it also expanded its product range in facades with the Ruukki emotion system.

Geographical Analysis

The North American market for the sandwich panel was valued at US$ 1,329.64 million in 2021 and the market is estimated to grow at a CAGR of 6.9% during the forecast period to reach a market value of US$ 2,027.02 million by 2029.

These sandwich panels are widely used in industrial buildings, commercial buildings, cold storage, residential buildings, power plants, and agricultural and husbandry buildings. The key advantages of sandwich panels over traditional methods are minimal lead time in installations, effective thermal insulation, high fire resistance and possess air & water tightness properties. Increasing construction activities of commercial spaces to cater to the respective industries and growing usage of sandwich panels are the primary factors driving the North American sandwich panels market. According to the study conducted by the Center for sustainable systems at the University of Michigan, the Commercial building floor space in the United States is expected to increase from 90.7 billion square feet in 2017 to 126.1 billion square feet in 2050 providing equal market growth for sandwich panels in the United States during the forecast period

Major players include Cornerstone Building Brands, INVESPANEL SL, Rautaruukki Corporation, ArcelorMittal Construction, Isopan, KIRIN Insulated Panels, LATTONEDIL, Areco, Kingspan Group, and Tata Steel Limited.

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