Market Overview
The Sandwich Panel Market is among the most flourishing industries, expected to reach USD 4.20 billion by 2030. By registering a CAGR of 8.85 %, the market is expected to reach new heights from 2022 to 2030.
Sandwich panels are building materials that are used for thermal insulation purposes. These panels have a triple-layer structure encompassing strong, thin outer layers and an insulating core component between these layers. One of the main advantages of sandwich panels is that the installation process is extremely simple. Furthermore, these panels’ light and durable nature enhance their acoustic and thermal insulation. During the forecast period, the global Sandwich Panel Market is expected to demonstrate solid performance owing to the high demand for panels in the construction industry. They are highly useful in new and modern building construction activities.
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Market Segment
The global Sandwich Panel Market has been segmented based on type, skin material and application.
The type-based segmentation mainly focuses on the type of material that is used for creating sandwich panels. The segment has been further subdivided into glass wool, rock wool, EPS sandwich panels, PUR/PIR sandwich panels and others. The segmentation based on skin material focuses on the specific kind of skin used in the creation process. The market segment can be further categorized into steel, aluminum, fiberglass reinforced panel (FRP), and continuous fiber reinforced panels (CFRT). The application segmentation emphasizes the areas in which the panels are utilized. The application segment has been further categorized into commercial, cold storage, residential, and agricultural buildings.
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Regional Analysis
The Sandwich Panel Market can be segregated based on the market’s regions. The major geographical segments include Europe, North America, Asia Pacific, and the Rest of the World. Currently, the North American region has been dominating the global market setting. The existence of large manufacturing industries and the surge in demand for contemporary construction materials have contributed to its solid performance. The specific segment is expected to dominate during the forecast period based on the rising demand for sustainable construction materials. The Asia Pacific market segment is also experiencing rapid growth. Some of the nations that have been contributing to the strong performance of the region include South Korea, China, and India.
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Key Players
DANA Group of Companies (UAE), INVESPANEL SL (Spain), Kingspan Group (Ireland), Building Component Solutions LLC (Saudi Arabia), Nucor Corporation (U.S.), Assan Panel A.S. (Turkey), Hoesch Siegerlandwerke GmbH (Germany), ArcelorMittal S.A. (U.S.), MANNI Group (Italy), Zhong Jie Group (China), Romanowski GmbH & Co. KG (Germany), Tata Steel Limited (India), NCI Building Systems Inc. (U.S.), Multicolour Steels India Pvt Ltd. (India), Sintex (India)
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