Press release
Sandwich Panels Market 2024-2033: Production Analysis, Segmentation, Key Drivers And Top Players
Sandwich Panels Market
The sandwich panels market size is expected to see strong growth in the next few years. It will grow to $22.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increase in large-scale infrastructure projects, enhanced focus on sustainable building practices, adoption of advanced manufacturing processes and automation, expansion of the construction industry in emerging markets. Major trends in the forecast period include growing popularity of aluminum and steel skin materials, expansion of applications beyond traditional building constructions, increased collaboration between suppliers and contractors.
Market Overview -
A sandwich panel is a type of modular building material that is used in construction and various other applications. It has a core material sandwiched between the two outer layers, or skins, to provide acoustic and thermal insulation. Metal, plastic, or composite materials are commonly used for skins, while foam, honeycomb, or balsa wood can be used as the core material.
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Rising Construction Drives Surge In Sandwich Panels Market
Increased demand in construction is expected to propel the growth of the sandwich panels market going forward. Construction involves the process of creating a design for a structure at a specific location and then assembling various components to construct that structure. Due to growing urbanization and population growth, there is a growing demand for infrastructure, housing, and commercial space. Sandwich panels are utilized in construction, due to their emphasis on sustainability and energy efficiency which enhances quick building solutions. For instance, according to the Office for National Statistics, monthly construction output is estimated to have increased 2.4% in volume terms in February 2023. Therefore, the increased demand for construction is driving the growth of the sandwich panels market.
Competitive Landscape -
Major companies operating in the sandwich panels market are ArcelorMittal S.A., Dana Group, Marcegaglia, Kingspan Group, Nucor Corporation, TATA Steel, NCI Building Systems, Assan Panel, Arconic Inc., Fischer Profil GmbH, Lattonedil, Isopan, Italpannel S.R.L, Multicolor Steel India Pvt. Ltd., Premier Building System Inc., Jiangsu Jingxue Insulation Technology Co. Ltd., Zhong Jie Group, Building Component Solutions LLC, Metecno, Romakowski GmbH & Co. KG, InGreen Systems, 3A Composites, Arpanel, Extreme Panel Technologies Inc
Technological Advancements By Innovative Design Automation To Increase Efficiency And Precision
Major companies operating in the sandwich panel market are developing innovative technology, such as sandwich panel design automation, to increase profitability. Sandwich panel design automation refers to using automated processes, tools, and software to design and manufacture sandwich panels. For instance, in January 2022, AGACAD, a US-based software company, launched sandwich panel design automation for Revit. Sandwich panel design automation for Revit aims to close a significant gap in the market for building information modeling (BIM) tools by facilitating the quick production of highly detailed insulated panels with any supporting framework and converting an architectural Revit model into a precise sandwich panel structural model.
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Key Segments -
The sandwich panels market covered in this report is segmented -
1) By Core Material: Polyurethane, Polyisocyanurate, Mineral Wool, Expanded Polystyrene
2) By Skin Material: Continuous Fiber Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP), Aluminum, Steel
3) By Application: Wall Panels, Roof Panels, Insulated Panels
4) By End-Use: Residential, Commercial, Industrial, Institutional And Infrastructure
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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