Sandwich Panel Market Growth and Industry Anlysis by 2028

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

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  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

Application

• Wall Panels
• Roof Panels

End Use

• Residential and Non-Residential

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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

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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.