The scope of our recent study on the “Sandwich Panel Market Forecast to 2028 – COVID-19 Impact 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)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
Get Sample PDF: https://www.theinsightpartners.com/sample/TIPRE00017588/
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 easy to install and cost-effective. Moreover, they require no maintenance. These features make them an ideal choice over traditional panels. Sandwich panels find application in shopping malls, sports facilities, cold stores, warehouses, commercial and industrial buildings, and transportation.
Based on end use, the global sandwich panel market is segmented into residential and non-residential. The non-residential segment held a larger share of the global sandwich panel market in 2020, and it is expected to dominate the end use segment during the forecast period. The dominance of the non-residential segment can be attributed to the extensive application of sandwich panels in various end-use industries.
The global sandwich panel market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. Asia Pacific held the largest revenue share of the global sandwich panel market in 2020. The growing use of sandwich panels in residential and non-residential sectors is anticipated to increase their demand in the Asia Pacific region. The building and construction industry is a strong contributor to the market's growth.
Impact of COVID-19 Pandemic on Sandwich Panel Market
Many economies were affected due to the COVID-19 pandemic. The unprecedented rise in the number of COVID-19 cases and the subsequent lockdowns of numerous manufacturing facilities have negatively influenced the growth of the sandwich panel market. Also, the pandemic has adversely impacted the construction industry. The construction of industrial and commercial buildings was nearly negligible due to the supply chain issues of sandwich panels and other construction materials. The COVID-19 pandemic has also adversely impacted the transportation industry. However, the market is reviving on account of governments' significant measures. The construction industry is also overcoming the challenges of supply chain disruptions of their raw materials. This is expected to provide the impetus for market growth.
The report includes the segmentation of the global sandwich panel market as follows:
- Based on material, the global sandwich panel market is segmented into polyurethane, polyisocyanurate, mineral wool, and others. Based on application, the sandwich panel market is segmented into wall panels, roof panels, and others. Based on end use, the sandwich panel market is divided into residential and non-residential. By geography, the sandwich panel market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. North America includes countries like the US, Canada, and Mexico. Europe includes Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific includes China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa (MEA) includes South Africa, Saudi Arabia, UAE, and the Rest of MEA. South and Central America includes Brazil, Argentina, and the Rest of South and Central America.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi