India Sandwich Panels Market Trends 2023-2030

India Sandwich Panels Market Overview:
Over the course of the projected period, the India Sandwich Panels Market is anticipated to grow at a strong CAGR of 8.50%. Any construction consisting of three layers-a low-density core and a thin skin layer linked to either side-is referred to as a sandwich panel. Applications requiring a blend of low weight and strong structural strength employ sandwich panels. Based on end-user, geography, type, and application, the Indian market is divided into segments. With so many companies already in the market, the sandwich panel industry is very competitive. To differentiate themselves as formidable rivals in the market, major businesses are implementing tactics including expanding their distribution networks, investing in R&D, and launching new products. For example, Isopan introduced a new product called "intelligent sandwich panel" in January 2017 to advance construction technology.

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Market Dynamics:
The primary driver of the market's expansion is India's rapidly expanding construction sector. These prefabricated components are intended for use as building envelopes in construction and building projects. They can be found in commercial and industrial buildings, in cool and clean rooms, and in newly constructed or renovated residential homes. They blend great product quality with a great deal of design freedom. They are often sustainable and have high energy efficiency. In the past forty years, sandwich panel construction techniques have advanced significantly. Sandwich panels were formerly thought to be items best suited for industrial buildings and functional constructions.

By the end of 2022, India's construction industry is expected to generate US$ 738.5 billion, according to Invest in India, an initiative of the Indian government. In 2019, the steel, paint, and glass sectors receive contributions from the construction industry accounting for 55%, 15%, and 30% of the total. With a 9% GDP contribution from the construction sector, India's construction industry is expected to rank third globally by the end of 2025 after growing by more than 7% from 2020 to 2025.

The country's construction industry is experiencing growth due to the establishment of 100 smart cities and the rising need for commercial space. On the other hand, a pandemic-related lockdown between April 2020 and August 2020 resulted in a negative growth, with real estate being the most affected.

Leading Players:
Hoesch Siegerlandwerke GmbH (Germany), Romakowski GmbH & Co. KG (Germany), Zhong Jie Group (China), MANNI Group (Italy), Nucor Corporation (U.S.), Multicolor Steels India Pvt Ltd. (India), Sintex (India), DANA Group of Companies (UAE), ArcelorMittal S.A. (U.S.)

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