Newark, Aug. 01, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the sandwich panels market will grow from USD 4.72 billion in 2023 to USD 10.74 billion by 2033. The rising growth of commercial structures, such as retail spaces, office buildings, complexes, etc., has positively impacted the demand for sandwich panels. Further, utilizing sandwich panels ensures effective insulation, which has led to increased demand for them in residential properties.
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Key Insight of the Sandwich Panels Market
North America region will account for the largest market size during the forecast period.
The North American region will hold a significant market share due to the rapid growth of urbanization. As a result of the growing investment in the construction of energy-efficient buildings, the market for sandwich panels has witnessed tremendous growth over the years. Residential buildings in the region, such as single—and multi-family buildings, require efficient insulation, and thus, many residents are opting for such panels in their homes.
The polyisocyanurate segment is expected to augment the market during the forecast period.
The core material segment is divided into polyurethane, polystyrene, rock wool, mineral wool, and others. Polyisocyanurate, often known as polyiso or ISO, is expected to augment the market during the forecast period. Polyisocyanurate is a thermoset material typically manufactured as foam and used for stiff thermal insulation. It is a closed-cell foam board that can be left plain or faced on one or both sides.
The fibreglass-reinforced panel segment is expected to augment the market during the forecast period.
The skin material segment is divided into fibreglass-reinforced panels, continuous fibre-reinforced thermoplastics, aluminium steel, and others. The fibreglass-reinforced panel segment is expected to augment the market during the forecast period. Fibreglass-reinforced panels are composite materials of a polymer matrix reinforced with fibres, usually glass. They are also called fibre-reinforced polymer or glass fibre-reinforced plastic panels. F.R.P. panels are durable, lightweight, non-corrosive, and rigid.
The commercial segment is expected to augment the market during the forecast period.
The application segment is divided into commercial, residential, industrial and others. The commercial segment is expected to augment the market during the forecast period.
Sandwich panels are a popular construction material for commercial properties ranging from office buildings to retail spaces. The adaptability of these panels enables the building of sophisticated and aesthetically beautiful structures that fulfil the needs of both businesses and customers.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 8.57% |
| 2033 Value Projection | USD 10.74 Billion |
| Market Size in 2023 | USD 4.72 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 239 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Core Material, Skin Material and Application |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Sandwich Panels Market Growth Drivers | Growth in infrastructure development |
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Market Dynamics
Driver: Increasing use of sandwich panels in commercial applications
Sandwich panels are widely used in a variety of applications. They are utilized in swimming pools, stadiums, malls and industrial buildings because they are a cost-effective method for preventing exterior elements from interfering with the building's internal cooling and heating systems. Sandwich panels are becoming increasingly popular as house solutions and are favourable in military buildings, prefabricated rooftop structures, prefabricated structures, acoustic homes, and other applications. Sandwich panels provide considerable thermal insulation, so they can successfully keep the crowd warm in the winter and cold in the summer. Thus, the use of sandwich panels is favourable in the construction of commercial and industrial buildings.
Restraint: Not suitable for certain architectural styles
Sandwich panels may only be appropriate for some architectural styles. In addition, while they are normally resilient, they can be damaged by a hard hit. Sandwich panels are unsuitable for buildings with many curves since the wire mesh and pre-made foam panels are difficult to bend and cut.
Opportunity: Construction of energy efficiency structure
Energy efficiency is critical for lowering fuel costs and decoupling growth from emissions, but regulating energy consumption is just as important. Energy efficiency has altered how we use energy throughout the decades, contributing to the development of a cleaner, more secure, economical, and productive economy. After several years of slowing development, current federal money allows states, local governments, corporations, and households to make additional investments in energy efficiency. After years of stagnation, North American energy efficiency investments in buildings, transportation, and industry increased. Sandwich panels are intended to create an excellent barrier against heat leakage, considerably lowering energy expenditures. Their capacity to maintain a consistent temperature within buildings makes them perfect for increasing energy efficiency and lowering carbon footprints.
Challenges: Maintenance issues
While P.U.F. panel sheets require minimal maintenance, they can be damaged by external sources such as impacts or punctures. Repairs can be difficult and may necessitate specialized knowledge and supplies. Chemicals produce P.U.F. panel sheets, which might cause environmental issues if not maintained effectively.
Some of the major players operating in the Sandwich Panels market are:
• Kingspan Group
• Areco Group
• Sintex Group
• DANA Group of Companies
• Tata Steel
• Rautaruukki Corporation
• Building Component Solutions LLC
• IT ALPANNELLI S.R.L.
• ArcelorMittal Construction
• Ames Copper Group
Key Segments Cover in the Market:
By Core Material:
• Polyurethane
• Polyisocyanurate
• Polystyrene
• Rock Wool
• Mineral Wool
• Others
By Skin Material:
• Fiberglass Reinforced Panel
• Continuous Fiber Reinforced Thermoplastics
• Aluminium Steel
• Others
By Application:
• Commercial
• Residential
• Industrial
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (U.A.E., South Africa, Rest of M.E.A.)
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About the report:
The market is analyzed on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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