Sandwich panels are prefabricated building panels comprising of two thin outer faces or facings separated by and bonded to a thick core material. The most commonly used facing materials include metal sheet, usually galvanized steel or aluminum while the core is generally made of insulation materials like mineral wool, expanded polystyrene, polyurethane foam etc. Sandwich panels provide numerous advantages like high strength to weight ratio, resistance to weathering, thermal insulation, soundproofing and ability to span long distances without intermediate supports. Rapid urbanization globally has led to rising needs for housing and commercial infrastructure development which drives the demand for advanced building construction materials that enhance sustainability and energy conservation like sandwich panels.
The global sandwich panels market is estimated to be valued at US$ 9190.37 Mn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the sandwich panels are ArcelorMittal Construction, Areco, Assan Panel AÅž, Building Components Solutions LLC, Cornerstone Building Brands, DANA Group of Companies, Kingspan Group, Multicolor Steels (India) Pvt Ltd, Rautaruukki Corporation, Safal Group., ITALPANNELLI SRL, Tata Steel, and Sintex. The sandwich panels industry offers excellent opportunities for global expansion especially in developing Asian and Middle Eastern countries witnessing infrastructure boom. Countries like India, China, Indonesia, Saudi Arabia, UAE etc. present huge growth prospects. Mass customization and development of sustainable and recyclable sandwich panel systems using green materials will be key opportunities in the coming years.
Market Drivers and Restrain
Rising construction activities globally driven by rapid urbanization is a major growth driver for the Sandwich Panels Market Size . According to UN, close to 68% of the world population is projected to live in urban areas by 2050 up from 56% in 2018. This will require building of millions of new residential, commercial and industrial structures. Sandwich panels provide numerous benefits like sustainability, durability, energy savings for builders and constructors which has propelled their increasing adoption globally.
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