Market Synopsis
As per the research by Market Research Future Reports (MRFR), the global sandwich panels market analysis is estimated to thrive at a CAGR of 7.04% during the forecast period. The evaluation states that the global sandwich panels market 2020 is majorly driven by the increasing demand from the real estate developers. Rapid urbanization has resulted in the increased demand for construction of special economic zones and commercial buildings. Besides, the developing and developed economies are emerging to be the hub for the infrastructural projects, which propels the market further. Sandwich panels are durable, protect the unpredictable climate and high thermal insulation. In addition to this, it consists of a simple design that leads to the rapid installation and makes it a preferred choice over the traditional panels. With the possession of these attributes, the sandwich panel is a preferred material.
Moreover, rising electricity consumption has demanded the requirement for energy-efficient measures. Policies which are energy-efficient and lessen the cost of production have generated the growth opportunity. Furthermore, the need for energy-efficient buildings to demand low levels of electricity to monitor greenhouse gas emissions is likely to boost the market.
Due to the sudden outbreak of novel coronavirus, there has been an immense change in the market dynamics. Several regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.
Market Segmentation
The global sandwich panels market can be segregated on the basis of application, type, and region.
On the basis of application, the global sandwich panels market can be segregated into cold storage, commercial buildings, residential buildings, and industrial buildings.
On the basis of type, the global sandwich panels market can be segregated into expanded polystyrene (EPS) sandwich panels, rock wool, glass wool, polyurethane (P.R.)/polyisocyanurate (PIR) sandwich panels, and others.
On the basis of region, the global sandwich panels market can be segregated into Europe, North America, Asia Pacific (APAC), and the Rest-of-the-World (RoW).
Regional Analysis
The geographical analysis of Europe, North America, Asia Pacific (APAC), and the Rest-of-the-World (RoW) has been conducted. As per the analysis by MRFR, Europe acquired the maximum market share and is estimated to retain its position in the market. The initiatives taken by the government to promote energy-efficient measures are estimated to propel the market in the region. Besides, it is environment friendly; it plays a vital role in lessening the carbon footprint by reducing the energy consumption level. On the other hand, the APAC region is projected to grow at the highest CAGR during the review period. The rapid industrialization and urbanization in the emerging economies have resulted in the expansion of the regional market. Besides, the initiative for environmentally friendly policies and expansion of the construction sector has resulted in the augmentation in the region. Moreover, the flow of FDIs and the expanded distribution channel of the established manufacturers are likely to expand the regional sandwich panels market growth during the review period.
However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.
Key Players
The forefront players of the global sandwich panels market are Hoesch Siegerlandwerke GmbH (Germany), Romakowski GmbH & Co. K.G. (Germany), Zhong Jie Group (China), MANNI Group (Italy), Nucor Corporation (U.S.), Building Component Solutions LLC (Saudi Arabia), Multicolor Steels India Pvt Ltd. (India), Sintex (India), ArcelorMittal S.A. (U.S.), DANA Group of Companies (UAE), INVESPANEL SL (Spain), Kingspan Group (Ireland), Assan Panel A.S. (Turkey), NCI Building Systems Inc. (U.S.), Building Component Solutions LLC (Saudi Arabia), and Tata Steel Limited (India).
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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