India Sandwich Panels Market Overview
The India Sandwich Panels Market is expected to grow at a CAGR of 8.50% during the forecasting period (2024-2031).
A sandwich panel is any structure made of three layers: a low-density core, and a thin skin-layer bonded to each side. Sandwich panels are used in applications where a combination of high structural rigidity and low weight is required. The Indian market is segmented based on type, application, end-user, and region. The Sandwich Panels market is highly competitive with existing players in the market.
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. For instance, in January 2017, Isopan has launched a new product “intelligent sandwich panel” to evolve buildings into smart buildings.
Market Summary
| Metrics | Details |
| Market CAGR | 8.50% |
| Segments Covered | By Type, By Application, By End-User and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
India Sandwich Panels Market Dynamics
High growth in the construction industry in India is the major driver for the growth of the market. In building and construction, these prefabricated products 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 combine a high-quality product with high flexibility regarding design. They generally have good energy-efficiency and sustainability. Sandwich panel construction techniques have experienced considerable development in the last 40 years. Previously, sandwich panels were considered products suitable only for functional constructions and industrial buildings
As per Invest in India, a government of India undertaken organization, the construction industry in India will reach US$ 738.5 Billion by the end of 2022. The construction industry contributes 55% share in the Steel sector, 15% in paint, and 30% in glass sectors in 2019. The construction industry contributes to a 9% share in India’s GDP and by the end of 2025 Construction Industry of India will be the third-largest globally which will grow by over 7% till 2025 from 2020
The launch of 100 smart cities in India and the increasing demand for commercial spaces is boosting the construction industry in the country. However, there is a negative growth witnessed in 2020 between April 2020 to August 2020 amid to lockdown due to a pandemic which impacted real estate the most.
