Sandwich panels are a structure made of three layers: a low-density core and a thin skin-layer bonded to each side. It acts as pioneer in developing construction techniques. It is manufactured by joining the layers of the covering metals, with insulating and other binding agents. It is suitable for both roofs ad walls and thus is preferred over the traditional concrete panels and roof panels. The key benefits are fast & easy installation, investment economy, perfect thermal insulation, high fire resistance, aesthetic appearance of buildings, noise-free buildings and air & water tightness.
According to study, “Global Sandwich Panels Market Information: by Type (Glass Wool, Rock Wool), Application (Commercial Buildings, Agricultural Buildings), and Region – Global Forecast Till 2023” the key companies operating in the global sandwich panels market are Hoesch Siegerlandwerke GmbH, Romakowski GmbH & Co. KG, MANNI Group, Multicolor Steels India Pvt Ltd., Multicolor Steels (India) Pvt Ltd., Nucor Corporation, Zhong Jie Group, DANA Group of Companies, Sintex, ArcelorMittal S.A., INVESPANEL SL, Cornerstone Building Brands, Areco, Kingspan Group, Assan Panel A.S., Building Component Solutions LLC, Paroc Panel System Oy Ab, Safal Group, Rautaruukki Corporation, Tata Steel Limited, NCI Building Systems Inc. The key players are focusing on augmenting their portfolios by offering add-on services for instance installation guidance to their consumers.
Based on type, sandwich panels market is segmented into Structural insulated panels (SIP), 3D-printed biopolymer panels and Aluminium composite panels (ACP). Based on core material, market is segmented into Polyurethane (PUR) & Polyisocyanurate (PIR), mineral wool, Expanded Polystyrene (EPS) and other core materials. PUR/PIR holds major share in market owing to growth in demand for composite materials in the construction industry. Based on application, market is segmented into wall panels, insulated panels, roof panels, facade panels, side wall paneling and other applications. In addition, based on end user, market is segmented into residential, industrial, commercial and institutional.
The sandwich panels market is driven by increase in awareness about energy-efficient buildings, followed by implementation of stringent regulations towards energy conservation, increase in number of large-scale residential as well as industrial infrastructural projects, construction of special economic zones & commercial buildings due to rapid industrialization, growth in demand for technical innovation in the materials industry, rise in infrastructural projects in developed & developing economies and improvement in thermal performance of sandwich panels. However, fluctuations in the prices of raw materials and increase in cost of production owing to expensive application techniques may impact the market. Moreover, rise in awareness for energy efficient infrastructure is a key opportunity for market.
Based on geography, the European region holds major share, followed by North-American region in the sandwich panels market owing to rise in new construction & renovation activities of commercial spaces in the region. The Asian-Pacific region is estimated to witness lucrative growth due to growth in production & consumption of packaged or processed food, rapid industrialization & urbanization and rise in investments from foreign multinationals over the forecast period. It is expected that the market will be reached at quick pace on account of high consumer awareness, early acceptance, and government support for energy-efficient & green constructions during the forecast period.
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Ankur Gupta, Head Marketing & Communications