Global Sandwich Panel Market to Reach USD 20.51 Billion by 2032, Driven by Sustainable Construction Demand
The global sandwich panel market is poised for significant growth, projected to expand from USD 10.70 billion in 2024 to USD 20.51 billion by 2032, registering a CAGR of 8.4% during the forecast period. This surge is attributed to the increasing demand for energy-efficient and sustainable building materials across residential, commercial, and industrial sectors.
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Key players in the market include Kingspan Group, ArcelorMittal, Tata Steel, Metecno Group, Assan Panel A.S., DANA Group of Companies, and Sintex. The Asia Pacific region is expected to witness the highest demand, owing to rapid urbanization, industrialization, and the expansion of the construction sector.
Competitive Landscape and Regional Demand
The sandwich panel market is characterized by intense competition, with companies focusing on product innovation, strategic partnerships, and mergers & acquisitions to enhance their market presence. Asia Pacific dominated the market in 2023, accounting for 47.93% of the global share, driven by robust construction activities in countries like China and India.
Regional Insights
Growth and Trends in the United States
In the United States, the sandwich panel market is experiencing steady growth, fueled by the increasing adoption of modular construction materials and the emphasis on energy-efficient building solutions. The market is projected to reach USD 3.35 billion by 2032, supported by government initiatives to develop cold storage facilities and warehouses.
Opportunities and Consolidation in Asia Pacific
Asia Pacific presents significant growth opportunities, with the market expected to maintain its dominance during the forecast period. The region’s growth is driven by rising demand from the growing population, large-scale urbanization, and increasing consumer expenditure on construction. In India, North India holds a market share of 28.2% in 2024, with a CAGR of 9.8% through 2031, while West India is anticipated to hold around 26.7% of the market share, emerging as another key zone with an estimated CAGR of 12.8% through 2031.
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Trends and Updation in the Middle East and Africa
The Middle East and Africa region is witnessing significant growth potential in the sandwich panels market, driven by extensive construction activities and infrastructure development projects across countries like Saudi Arabia and South Africa. Saudi Arabia emerges as both the largest and fastest-growing market in the region, supported by its Vision 2030 initiative and various mega-construction projects.
Growth and Developments in Europe
Europe held a significant market share in 2023, with a volume share of 28.8%. The region’s growth is propelled by the expanding construction industry, particularly in countries like Italy, where the National Recovery and Resilience Plan and significant investments in construction activities are driving demand for sandwich panels.
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Market Segmentation: In-Depth Analysis:
by Material Type
Expanded polystyrene (EPS) panels
Polyurethane (PU) Panels
Glass wool panels
PF panels
Others
by Mounting Type
Wall Panels
Roof Panels
Facade Panels
Others
by Application
Aircraft
Transportation and Automotive
Construction
Cold rooms
Packaging
Others
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Market Key Players : In-Depth Analysis:
1. Building Component Solutions LLC.,
2. Multicolor Steels (India) Pvt. Ltd.
3. Pioneer Coldstore & Cladding Pvt. Ltd.
4. Arcelor Mittal Construction
5. Areco, Pt.
6. Kyung Heung Indonesia
7. Dalal Steel Industries sarl
8. Vibgyor Steel
9. Alubel Spa
10.Balex Metal SP Z.O.O.
Note:
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