Sandwich Panels Market To receive overwhelming hike in Revenues by 2031

Sandwich panel consists of a core/insulating material of low density, sandwiched between two layers of metal, bonded under pressure. Various types of sandwich panels are available in the market such as structural insulated panels, insulated metal panels, acoustic sandwich panels, metal-faced insulated panels, sandwich precast concrete panels, sandwich panels for external walls, and sandwich roofing and wall panels. The global sandwich panels market is projected to grow at a steady pace during the forecast period, owing to the expansion of the industrial sector. Increase in adoption of metal-faced insulated panels, steel sandwich panels, roofing sandwich panels, insulated sandwich panels, and aluminum sandwich panels is expected to fuel the sandwich panels market.

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Rise in Demand for Cold Storage Facilities Augmenting Global Sandwich Panels Market

Sandwich panels are extensively used in cold storage facilities due to their cost-effectiveness and sustainable benefits. Demand for transport and storage of temperature-sensitive products is rising across the globe. Sandwich panel for cold stores is made out of two pre-lacquered and profiled galvanized steel sandwich sheets. It contains an insulating core made of stiff high-density core material. This composition allows excellent thermal insulation and ensures strong performance over the extended life of refrigeration panels. The number of cold storage facilities aimed at extending and ensuring the shelf life of fresh agricultural products, seafood, frozen food, etc. is increasing at a rapid pace across the globe. Growth in number of multinational corporations in food retail chains is boosting the demand for cold storage facilities. Additionally, consumers are increasingly opting for online purchase of grocery items. This is driving the demand for cold storage facilities, thereby fueling the global sandwich panels market.

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Increase in Demand for Fast Construction to Drive Global Sandwich Panels Market

Demand for sandwich panels is increasing among real estate developers and architects across the globe. Sandwich panels are multilayer structures that can be widely used in the construction industry due to their numerous advantages and insulation properties. Installation of sandwich panels is fast, less complicated, and less expensive. Growth in various industries, rise in construction of homes in developing countries, and infrastructure development across the globe are creating lucrative opportunities for players operating in the global sandwich panels market. Large number of developing countries are implementing long-term infrastructure improvement projects that require building materials such as sandwich panels.

Growth in Preference for Durable, Lightweight, and High-density Polyurethane Core Materials

In terms of core material, the global sandwich panels market has been divided into polyurethane (PUR), mineral wool, expanded polystyrene (EPS), polyisocyanurate (PIR), and others. The polyurethane (PUR) segment dominated the global market in 2021. The segment is expected to maintain its leading position in the market during the forecast period. Polyurethane (PUR) is a preferred core material in end-use industries due to its various advantages and applications. The material is extremely durable, lightweight, and resistant to extreme weather conditions. Polyurethane (PUR) is a high-density material that is used in sandwich panels. Increase in preference for polyurethane (PUR) material among end-users can be ascribed to its durability and economical price.

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Wide Applications of Sandwich Panels in Industrial Buildings

Based on end-use, the global sandwich panels market has been segmented into residential building, commercial building, industrial building, cold storage, and others. The industrial building segment held the major share of the global sandwich panels market in 2021. The segment is projected to maintain its leading position during the forecast period due to the growth in infrastructure development activities around the world. Several key players are expanding their production facilities and warehouses to meet the increasing demand for sandwich panels among customers. Sandwich panels are primarily used in industrial building construction. Growth in pharmaceutical and food & beverage industries is also expected to offer lucrative opportunities to market players during the forecast period.

Regional Outlook of Global Sandwich Panels Market

Asia Pacific is expected to dominate the global sandwich panels market during the forecast period, owing to the increase in construction activities in industrial and commercial sectors in the region. Rise in number of large-scale residential and industrial infrastructure development projects and increase in government subsidies for rural construction are also likely to make Asia Pacific a key region of the global sandwich panels market during the forecast period.

Increase in demand for industrial building construction in North America and Europe is anticipated to offer lucrative growth opportunities for key players operating in the market in these regions. Prominent players in these regions are expanding their production capacities to increase their share in the sandwich panels market.

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Analysis of Key Players in Global Sandwich Panels Market

The global sandwich panels market is consolidated, with a small number of large-scale vendors controlling majority of the share. Key players in the global sandwich panels market are focused on technological advancements. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by players. Furthermore, market players are focused on providing high-quality services to gain competitive advantage over others. Prominent players operating in the global sandwich panels market are ArcelorMittal, Areco Group, Assan Panel A.S., DANA Group of Companies, Tata Steel, Kingspan Group, Manni Group, Nucor Corporation, and Metecno Group.

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