The sandwich panel market is driven by the growing demand for sandwich panels from various end users such as industrial buildings, warehouses and office buildings
NEW YORK, USA, Oct. 31, 2022 /EINPresswire.com/ — According to our latest market research, “Sandwich Panel Market Forecast to 2028 – Impact of COVID-19 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). by 2028; it is expected to grow at a CAGR of 6.7% from 2021 to 2028.
Global Sandwich Panels Market growth values, regional and industrial scope:
Market size value in – 2,711.11 million US$ in 2021
Market size value of – USD 4,256.62 million by 2028
Growth rate – CAGR of 6.7% from 2021 to 2028
Forecast Period – 2021-2028
Base year – 2021
Number of pages – 154
Number of tables – 82
Number of graphs and figures – 76
Historical data available – Yes
Segments Covered – Material, Application and End Use
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
National reach – United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Coverage – Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors and Trends
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Sandwich panels are easy to install and economical. In addition, they require no maintenance. These characteristics make them an ideal choice over traditional panels, especially in applications such as cold stores and construction in rural areas. In 2020, polyurethane was the fastest growing segment of the sandwich panel market. Growing demand for polyurethane sandwich panels from various end users such as industrial buildings, warehouses and office buildings is a major driver for the segment.
Sandwich Panel Market: Competitive Landscape and Key Developments
Kingspan Group, Assan Panel, Isopan, Tata Steel, ArcelorMittal, Attonedil, Italpanneli SRL, DANA Group of Companies, Zhongjie Group and Multicolor Steel India Pvt. are some of the major players operating in the sandwich panel market.
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Impact of the COVID-19 pandemic on the sandwich panel market
The COVID-19 pandemic has had a negative impact on the growth of the sandwich panel market. Sectors such as construction, cold storage and chemicals have been affected by the sudden distortion of operational efficiency and disruption of value chains due to the sudden closure of national and international borders. Various industries have faced supply chain disruptions due to the COVID-19 pandemic. Due to the complete shutdown of construction activities and the cessation of expansion or construction of new plants and plants, the demand for sandwich panels has been negatively affected. However, as several economies recover and businesses in manufacturing industries resume operations, the demand for sandwich panels is expected to rise globally. Moreover, the previously postponed construction projects are set to resume which would provide an additional opportunity for the sandwich panel market players to witness revenue growth.
Overview of the sandwich panel market
Based on application, the global sandwich panel market has been segmented into wall panels, roof panels and others. The wall panel segment held the largest share of the global sandwich panel market in 2020. The wall panel provides sound insulation, which minimizes the harmful effects of noise on humans, eliminates unwanted sounds and reduces the propagation of sound from the noisy areas. Growing need for soundproof and thermal premises in various industries is expected to propel the growth of wall panel segment over the forecast period.
On the basis of materials, the global sandwich panel market is segmented into polyurethane, polyisocyanurate, mineral wool, and others. By geography, the sandwich panel market is broadly segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. North America includes countries like the United States, Canada, and Mexico. Europe includes Germany, France, UK, Italy, Russia and Rest of Europe. Asia Pacific includes China, India, Japan, Australia, South Korea and Rest of Asia Pacific. Middle East and Africa (MEA) includes South Africa, Saudi Arabia, United Arab Emirates and Rest of MEA. South and Central America includes Brazil, Argentina and the rest of South and Central America.
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The Insight Partners is an industry unique research provider of actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Health IT, Manufacturing and Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.
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