November 15, 2021
According to a research titled ‘Global Sandwich Panel market by Core Material (Polyurethane, Polyisocyanurate, Mineral Wool, Expanded Polystyrene, and Other Core Materials), Skin Material (Continuous Fiber Reinforced Thermoplastics, Fiberglass Reinforced Panel, Aluminum, Steel, and Other Skin Materials), Application (Wall Panels, Roof Panels, Insulated Panels, and Other Applications), End-use Sector (Residential, Commercial, Industrial, and Institutional and Infrastructure), Regional Forecasts 2021-2027’, available with MarketStudyReport, global sandwich panel market is anticipated to grow with a CAGR of 6% through 2027.
Rising demand of PVDF-based aluminum composite panels, along with growing cold storage applications of structural insulated panels are the key factors driving the global sandwich panels market growth. In this context, in China, construction of cold storage has increased, especially in major vegetables and fruit growing areas and vegetable bases in outskirts of cities like Shanghai, Hubei, Jiangsu, Zhejiang, and Henan.
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For the unversed, sandwich panels are building materials made by joining layers of covering metals with insulating compounds and binding agents. They provide efficient insulation and temperature control solutions while maintaining aesthetics in a number of applications due to their durability, structural integrity, and good insulating characteristics.
However, uncertain fire performance of some sandwich panels may stifle the market growth during the forecast period 2021-2027.
On the basis of core material, global sandwich panel industry is categorized into polyisocyanurate, polyurethane, expanded polystyrene, mineral wool, and others. While based on skin material, the market is divided into continuous fiber reinforced thermoplastics, aluminum, fiberglass reinforced panel, and others.
As per the application scope, the industry is segmented into wall panels, insulated panels, roof panels, and others. Speaking of end-user ambit, the market is divided into residential, industrial, commercial, and infrastructural & institutional.
Considering the geographical aspect, North American market is slated to show tremendous growth over the forecast period, owing to amplifying construction industry in the region. Meanwhile, Asia Pacific market is predicted to grow dramatically in the next six years, with China at the forefront, having high GDP.
The key players in global sandwich panel marketplace are Building Component Solutions LLC, Cornerstone Building Brands Inc., ArcelorMittal S.A., DANA Group of Companies, ITALPANNELLI S.r.l., Multi Color Steels (India) Private Limited, Assan Panel, Rautaruukki Oyj, Safal Group, and Kingspan Group plc.