Sandwich Panel Market Growth and Industry Anlysis by 2028

Sandwich Panel Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Polyurethane, Polyisocyanurate, Mineral Wool, and Others), Application (Wall Panels, Roof Panels, and Others), and End Use (Residential and Non-Residential)

  • Report Code : TIPRE00017588
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 154
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Sandwich Panel Market Growth and Industry Anlysis by 2028

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The sandwich panel market was valued at US$ 2,711.11 million in 2021 and is projected to reach US$ 4,256.62 million by 2028; it is expected to grow at a CAGR of 6.7% from 2021 to 2028.

Sandwich panels are a triple-layer structure that contains hard and rigid thin outer skin and insulating core material in between. This structure protects the interior against sound, extreme weather conditions, and sudden breakout of fires.

In 2020, Asia Pacific held the largest revenue share of the global sandwich panel market. The growth of the market in the region can be attributed to the rapid industrialization and building construction activities. The region is witnessing a rise in the construction of cold storage, warehouses, shopping malls, industrial and commercial buildings. Furthermore, the region is known as the largest producer of agricultural products globally, which results in a greater number of agricultural premises construction across the region to store crops. Hence, the factors mentioned above are fostering the demand for sandwich panels in the region.

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Sandwich Panel Market: Strategic Insights

Sandwich Panel Market

  • CAGR (2021 - 2028)
    6.7%
  • Market Size 2021
    US$ 2.71 Billion
  • Market Size 2028
    US$ 4.26 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Kingspan Group
  • Assan Panel
  • Isopan
  • Tata Steel
  • Arcelormittal
  • Lattonedil
  • Italpannelli S.R.L.
  • Dana Group of Companies
  • Zhongjie Group

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Material
  • Polyurethane
  • Polyisocyanurate
  • Mineral Wool
  • Others
Application
  • Wall Panels
  • Roof Panels
  • Others
End Use
  • Residential and Non-Residential
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.


Impact of COVID-19 Pandemic on Sandwich Panel Market

The COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the sandwich panel market. Industries such as construction, cold storage, and chemical have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. The significant decline in the growth of several industrial sectors has impacted the demand for sandwich panels in the global market. The demand for sandwich panels has been negatively affected due to the total shutdown of construction activities and halt in expansion or new construction of plants and factories. However, the demand for sandwich panel products has been substantial from pharmaceutical and food & beverages manufacturing facilities as these industries witnessed growth during the lockdown. This helped the sandwich panel market to sustain itself to a certain extent.

Market Insights


Growing Cold Storage Applications of Sandwich Panels

Sandwich panels are increasingly used in many commercial settings, including large refrigeration areas. They are also ideal for warehouses to store sensitive items that need to be kept at a steady temperature, such as frozen products and other temperature-sensitive items. Rise in retail food processing demand for products that need efficient cold storage facilities. Furthermore, during the pandemic, increased online grocery sales and expanded e-commerce channels resulted in the need to expand cold storage facilities.

Sandwich panels are used in refrigerated trucks, also known as reefer trailers, for transporting temperature-sensitive items. The growing demand for ready-to-eat/cook, dairy products, and pharma items is propelling the need for reefer trucks. This, in turn, will boost the growth of the sandwich panels market.

Application Insights

Based on application, the global sandwich panel market has been segmented into wall panels, roof panels, and others. The wall panels segment held the largest share in the global sandwich panel market in 2020. Wall panel provides sound insulation, which minimizes the harmful effects of noise on humans, leaves out unwanted sounds, and reduces the sound spreading around from noisy areas. The growing need for sound and thermal proof premises in various industries is expected to propel the growth of the wall panels segment during the forecast period.

Kingspan Group, Assan Panel, Isopan, Tata Steel, ArcelorMittal, Attonedil, Italpanneli S.R.L, DANA Group of Companies, Zhongjie Group, and Multicolor Steel India Pvt. Ltd. are among the major players operating in the sandwich panel market. These companies provide a wide range of product portfolios and have a widespread global presence.

Sandwich Panel Market Report Scope

Report Attribute Details
Market size in 2021 US$ 2.71 Billion
Market Size by 2028 US$ 4.26 Billion
Global CAGR (2021 - 2028) 6.7%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Material
  • Polyurethane
  • Polyisocyanurate
  • Mineral Wool
  • Others
By Application
  • Wall Panels
  • Roof Panels
  • Others
By End Use
  • Residential and Non-Residential
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Kingspan Group
  • Assan Panel
  • Isopan
  • Tata Steel
  • Arcelormittal
  • Lattonedil
  • Italpannelli S.R.L.
  • Dana Group of Companies
  • Zhongjie Group
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

     

    Report Spotlights

    • Progressive industry trends in the sandwich panel market to help players develop effective long-term strategies
    • Business growth strategies adopted by developed and developing markets
    • Quantitative analysis of the sandwich panel market from 2019 to 2028
    • Estimation of global demand for sandwich panels
    • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
    • Recent developments to understand the competitive market scenario
    • Market trends and outlook, as well as factors driving and restraining the growth of the sandwich panel market
    • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
    • The size of the sandwich panel market at various nodes
    • Detailed overview and segmentation of the market, as well as the sandwich panel industry dynamics
    • Size of the sandwich panel market in various regions with promising growth opportunities

    Global Sandwich Panel Market

    • Material
      • Polyurethane
      • Polyisocyanurate
      • Mineral Wool
      • Others
    • Application
      • Wall Panels
      • Roof Panels
      • Others
    • End Use
      • Residential
      • Non-Residential

    Company Profiles

    • Kingspan Group
    • Assan Panel
    • Isopan
    • Tata Steel
    • ArcelorMittal
    • Attonedil
    • Italpanneli S.R.L
    • DANA Group of Companies
    • Zhongjie Group
    • Multicolor Steel India Pvt. Ltd.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Material, Application, and End Use

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    On the basis of end use, which segment led the global sandwich panel market in 2020?

    Based on end use, the non-residential segment led the global sandwich panel market in 2020. The dominance of the non-residential segment can be attributed to the extensive application of sandwich panels at various end use industries. Moreover, the rapid industrialization in developing economies is expected to boost the demand for sandwich panels as in modern times, industrial buildings are heavily using sandwich panels due to cost-effectiveness and reduced time. Furthermore, increasing warehouses and cold stores across the globe is further bolstering the application of sandwich panels. Consequently, the growing number of sports facilities, cold stores, warehouses, and manufacturing buildings across the globe is accelerating the demand for the sandwich panel.

    What are the trends for the global sandwich panel market?

    The growing inclination for sustainable products is the key trend for the sandwich panel market. There is a rising inclination toward sustainable and green products. Buildings constructed with sandwich insulated panels are more energy-efficient than traditional buildings. The sandwich panel also helps lower energy costs. Besides, many sustainable bio-based foam cores and resins are being introduced. Market players are also focusing on offering composite panels made from bio-based materials.

    What are the drivers for the growth of the global sandwich panel market?

    Growing cold storage applications of sandwich panels and increasing demand for PVDF-based aluminum composite panels are the key factors driving the sandwich panel market during the forecast period. Moreover, there is increasing use of different advanced and popular materials for the construction of buildings, homes, and offices. Various emerging economies are focusing on creating new buildings and structures. PVDF-coated aluminum composite panel panels are increasingly used to decorate storefronts, shopping malls, industrial facilities, educational institutes, advertisement screens, signage, display systems, hospitals, and curtain wall cladding of buildings. Hence these are the key drivers for the growth of the global sandwich panel market.

    On the basis of application, which segment led the global sandwich panel market in 2020?

    Based on application, the wall panels segment led the global sandwich panel market in 2020. Wall panel provides sound insulation which minimizes the harmful effects of noise on humans, leaves out unwanted sounds, and reduces the sound spreading around from noisy areas. Additionally, growing demand for air and watertight sandwich wall panels to ensure the continuity of temperature insulation at cold storage and warehouses. Thus, the growing need for sound and thermal proof premises at various industries is expected to propel the growth of the wall panels segment of the sandwich panel market in the forecast years. 

    Can you list some of the major players operating in the global sandwich panel market?

    The major players operating in the global sandwich panel market are Kingspan Group, Assan Panel, Isopan, Tata Steel, ArcelorMittal, Attonedil, Italpanneli S.R.L, DANA Group of Companies, Zhongjie Group, and Multicolor Steel India Pvt. Ltd.

    During the forecast period, which region is anticipated to account for the largest share of the global sandwich panel market?

    During the forecast period, Asia-Pacific is anticipated to account for the largest share of the global sandwich panel market. Asia-Pacific region comprises several developed and developing economies, including China, India, Japan, South Korea, among others. The growth of the market in the region can be attributed to the rapid industrialization and building construction activities. The region is witnessing rise in the construction of cold storage, warehouses, shopping malls, industrial and commercial buildings. Furthermore, the region is also known as the largest producer of agricultural products globally, and this factor resulting in a greater number of agricultural premises construction across the region to store agricultural crops. Hence, the above-mentioned factors in the region are fostering the demand for the sandwich panel.

    The List of Companies - Sandwich Panel Market

    1. Kingspan Group
    2. Assan Panel
    3. Isopan
    4. Tata Steel
    5. Arcelormittal
    6. Lattonedil
    7. Italpannelli S.R.L.
    8. Dana Group of Companies
    9. Zhongjie Group
    10. Multicolor Steels India Pvt Ltd.

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