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Sandwich Panels Market Outlook 2024-2033: Industry Analysis and Future Growth
Sandwich Panels Market Outlook 2024-2033: Industry Analysis and Future Growth
Sandwich Panels Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $22.59 Bn In 2028 At A CAGR Of 7.5% :
The sandwich panels market size has grown strongly in recent years. It will grow from $15.61 billion in 2023 to $16.99 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to growing construction industries worldwide, rising per capita income, continued urbanization, rapid urbanization and infrastructural development, shifts toward sustainable architecture and design.
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.
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Sandwich Panels Market Major 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 Driver - 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.
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Prominent Trend - 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.
Sandwich Panels Market Players
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
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Largest And Fastest Growing Region In The Market
North America was the largest region in the sandwich panels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sandwich panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sandwich Panels Market Report Structure
3. Sandwich Panels Market Trends And Strategies
4. Sandwich Panels Market - Macro Economic Scenario
5. Sandwich Panels Market Size And Growth
…..
27. Sandwich Panels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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