Global Sandwich Panels Market – Overview
Sandwich Panels Market is projected to be worth USD 4.20 billion by 2030, registering a CAGR of 8.85% during the forecast period (2021 to 2030), The market was valued at USD 1.59 billion in 2021. Rise in the level of manufacturing activities worldwide has significantly caused growth of the sandwich panel sector. Market Research Future, which specializes in market reports related to the Construction sector among others, recently published a report on this market. The industry is expected to witness high and improved levels of revenue and will expand with a positive percentage of CAGR.
The market for Sandwich Panels Market has grown relatively faster in recent times due to its applications in storage and warehouse sectors, aviation to name a few. New product developments have been instrumental in charting the upward growth trajectory of the sector. The product features of sandwich panels such as ability to be sound proof and insulate which have opened the scope and potential of the market.
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Global Sandwich Panels Market – Prominent Players:
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). are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Sandwich Panels Market.
Industry Segments –
The industry sandwich panel market worldwide is segmented into type, material, application, and region. On the basis of material it is segmented as polyurethane, mineral wool, and others. On the basis of type it is segmented as wall panels, roof panels, facade panels, and others. On the basis of application it is segmented as commercial, industrial, and others. Furthermore on the basis of region, it is segmented as North America, Europe, APAC and Rest of the World.
Additionally, there are lower labor costs involved, construction can be done quicker and there is less to no waste produced. This makes it a cost effective alternative with comparatively lesser wastage and has proved to be an environment friendly construction solution. This also have the positive influence on the growth of the market.
However, in many countries, for construction, people generally use traditional buildings methods rather than using the new technology, mainly due to the lack of awareness regarding trending technologies. This can hinder the market growth.
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Global Sandwich Panel Market – Segments
Global Sandwich Panel Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Material: Comprises – Polyurethane, Mineral wool, and Others
Segmentation By Types: Comprises – Wall Panels, Roof Panels, Facade Panels, and others
Segmentation By Application: Comprises – Commercial, Industrial, and others
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Sandwich Panel Market – Regional Analysis
Asia-Pacific is expected to show a very high rate of growth in demand for Sandwich Panel over the coming years, owing to increasing FDI in construction in Asia-Pacific region. There is seen an increase in the global foreign direct investment (FDI) inflows. According to United States Economic and Social Commission for Asia and Pacific (UNESCAP), it was valued at USD 1.76 trillion in 2015. This amounted for 38% increase compared with 2014. The Asia-Pacific region continued to receive a significant amount of FDI inflows, totaling USD 559 billion in 2015, an increase of 5.6% over 2014 level. The FDI inflows in construction in Asia-pacific region has led to increased construction projects and real-estate development. This has pushed the the demand for sandwich panels in the region.
Furthermore the region has also witnessed increased popularity and awareness about sustainable construction. The government through various regulations and associations has induced the demand for such panels which are used in the sustainable construction in Asia-Pacific region.
North America and Europe are the matured markets for construction. Both the regions have shown moderate growth in the private construction, especially U.S. and U.K. This is expected to fuel the demand for such panels in its private construction application. Furthermore there are various regulation governing the use and material of sandwich panels to be used in construction. Thus the market in the region is highly organized and less fragmented
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