Sandwich Panels Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMA2067 | Last Updated On: Dec 20 2022 | Available Formats

> Global Sandwich Panels Market Expected to reach a high CAGR 4.9% By 2029: DataM Intelligence

Sandwich Panels Market is segmented By Application (Side Wall Paneling, Facade Panels, Roof Panels, Wall Panels, Insulated Panels), By Type (Mineral Wool, Expanded Polystyrene, Polyisocyanurate, Polyurethane, Others (Glass wool, Rock wool)), By End-Use Industry (Residential, Commercial, Industrial, Others (Automotive, Transportation)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Sandwich Panels Market Share, Size, Demand Insights

The sandwich Panels market reached US$ XX million in 2022 and is expected to record significant growth by reaching up to US$ XX million by 2030, growing at a CAGR of 4.9% during the forecast period (2023-2030).

Sandwich Panels Market Scope and Summary

Metrics

Details

Market CAGR

 4.9%

Segments Covered

 By Application, By Type, 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 vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Sandwich panels are modern prefabricated construction components used as cladding elements for different types of buildings. The respective products' durability and rapid installation, owing to their simple design, make them a viable choice over traditional roof panels. Sandwich panels allow a wide range of profiles and colors and buildings with a high class; the modern look is typically obtained. The sandwich panel is a durable and economical solution for many buildings, from factories to stadiums, malls to swimming pools.

Sandwich Panels Market Dynamics and Trends

The surging demand for sandwich panels in the food and beverage industry is expected to boost the market for sandwich panels in the forecast period. However, high production costs and fluctuation in raw material prices could be major market restraints.

The surging demand for sandwich panels in the food and beverage industry

The mineral wool material plays a vital role in the manufacturing of sandwich panels as the demand for energy-saving insulation materials is increasing due to climate changes and rising global pollution. For instance, in the UK, around 20 million people are affected by flooding yearly, costing around US$ 83 billion to UK’s GDP. Further annually cost of damaging urban areas has reached more than US$ 1.29 billion

Further increasing investment in developing zero-emission mineral wool materials to combat climate change around the globe has propelled the demand for the sandwich panel market. According to UN Environmental Program Report, several countries and the private sector are collaborating to build a zero-carbon emission construction & buildings sector to mobilize US$ 1 trillion in “Paris-compliant” building investments in developing countries by 2030. This will boost the demand for energy-efficient mineral wool materials for the building & construction sector around the globe

The rising global production of industrial wool materials around the globe has created a massive demand for this market. Among the total, the construction sector usage contributed around US$ 25.3 billion, consisting of mineral wools, construction gravel, crushed stone, and sand. It created a massive demand for the sandwich panel market during the forecast period.

High  production cost and fluctuation in raw material price

The production of sandwich panels requires a huge investment for pieces of machinery, equipment, and raw materials. For instance, the average cost for the production of sandwich panels ranges from US$ 1000 to US$ 5000 million per production capacity. In addition, if a panel is filled with a core filling material, such as polyurethane, then the price of the material further increases.

Labor costs are generally evaluated based on workload or needed person-hours. They could be separated into the costs needed to produce steel sandwich panels and grillage. 

While keeping the increase in raw material cost, the price of sandwich panels automatically rises. The production of complex, large foam cores involves a time-consuming milling process, which can cause up to 90% of scrap. As a result, the costs of a pre-cut, 3D-milled foam core can rise extremely. The material selection here is largely driven by cost. Many sandwich panel material combinations common in other industries, such as aerospace, are far less feasible, despite their superior mechanical properties.

Production costs are small compared to material costs, which is true for some types of sandwich panel construction. They could be separated into the costs needed to produce steel sandwich panels and grillage. Sandwich panel is made by laser welding in an automated production facility and the costs are high. Typically polymer foams (often polyurethane, polystyrene, PVC, or PMI) or lightweight woods (usually balsa or cedar) have been used as core materials in low-cost applications rather than more expensive-to-manufacture honeycomb cores. Production costs of honeycomb cores are high because they are conventionally produced in batches rather than in continuous manufacturing processes. Therefore, such sandwich panels are limited by high production costs.

COVID-19 Impact on Sandwich Panels Market Growth

The economy has been severely affected, as well as domestic and international trade, households, enterprises, financial institutions, industrial organizations, and infrastructure companies, by COVID-19 outbreaks. Economic problems brought on by the virus have affected many extra businesses globally. Similar to how the COVID-19 pandemic has endangered engineering and building projects globally, many projects have been shelved.

As a result, virtually all nations have gone through a building industry financial recession, which has exacerbated unemployment. The building sector is apprehensive, nervous, and anxious about this situation. Since construction projects are the only source of sandwich panel demand, the COVID-19 problem had a catastrophic impact on the worldwide sandwich panel business, decreasing demand, and sales in that particular sector. The market in question is anticipated to rebound with the building business as the pandemic's hold on the world economy begins to break.

Sandwich Panels Market Segment and Shares Analysis 

The global sandwich panels market is classified based on type, application, end-user, and region.

Low-construction time and suitable government policies towards installations of sandwich panels over the steel/metal frames or traditional concrete structure

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, boost energy efficiency and add customer value to business owners. Increasing interests among major construction companies towards adopting sustainable insulated panels associated with growing investments by the respective end-user companies are primary factors driving the commercial segment in the global sandwich panel market during the forecast period.

Minimal energy consumption and high temperature and fire resistance over traditional concrete-based structures also boost the demand for global sand panels during the forecast period. Additionally, Low-construction time and suitable government policies toward installing sandwich panels over 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 energy expenses and improve air-conditioning facilities across the unit. Adopting prefabricated sandwich panels will decrease construction and labor costs and improve customer reach time.

Sandwich Panels Market Geographical Analysis

Increasing construction activities of commercial spaces to cater to the industries boost the demand for sandwich panels in North America

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.  Further, North America is the country’s preferred choice of insulating material like mineral wool which produces sandwich panels due to its properties, low cost, and ease of installation.

Sandwich Panels Companies and Competitive Landscape

The global sandwich panels market is huge and is becoming increasingly competitive due to the presence of major players such as Cornerstone Building Brands, INVESPANEL SL, Rautaruukki Corporation, ArcelorMittal Construction, Isopan, KIRIN Insulated Panels, Lattonedil, Areco, Kingspan Group, and Tata Steel Limited. The market is fragmented and market players employ market tactics such as mergers, acquisitions, product launches, contributions, and collaborations to gain a competitive advantage and recognition.

Ashland Global Holdings Inc.

Overview: Tata Steel, formerly Tata Iron and Steel Company Limited, is a multinational steel-making company headquartered in Kolkata, India, and is a subsidiary of the Tata Group. Its largest plant (10 MTPA capacity) is in Jamshedpur, Jharkhand. In 2007, Tata Steel acquired UK-based steel maker Corus. Tata Steel Europe is Europe's second-largest steel producer, with main steel-making operations primarily in the UK and the Netherlands. The company's sandwich panels are available in a range of core thicknesses to meet customers' energy efficiency needs. They are designed with an easy-fixing mechanism to aid quick builds

Product Portfolio: 

  • MONTANATHERM: MONTANATHERM is the predestined construction system for industrial and commercial buildings where rapid building progress, economic efficiency, and high insulation value are required.

Key Development:

  • In June 2020,  Tata Steel launched India's first-ever fiber-reinforced polymer quarantine units. These prefabricated units are being produced in collaboration with eight manufacturing partners under Tata Steel’s brand Nest-In, its Tubes Division, and its New Materials Business across the country

The global sandwich panels market report would provide approximately 61 tables, 61 figures, and almost 176 pages.

Product Audience 2023

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies

 

Frequently Asked Questions

What is the Projected CAGR value of the Sandwich Panels Market?

Sandwich Panels Market is expected to grow at a CAGR of 8.80% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Sandwich Panels Market during 2022-2029.

Which is the fastest-growing region in the Sandwich Panels Market?

Among all regions, Asia Pacific is the fastest-growing market share during the forecast period.

 

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