According to a new report published by Allied Market Research, titled, “Global Sandwich Panels Market,” The global sandwich panels market size was valued at $20.21 billion in 2021, and is estimated to reach $39.16 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚:- https://www.alliedmarketresearch.com/request-sample/17408
𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁
Sandwich panels are a type of construction material that is used for building walls, roofs, and floors. They are composed of two layers of facing material, which are joined together with an insulation core. These panels are made from a variety of materials, including metals, plastics, and composites. The panels have the ability to provide excellent thermal and acoustic insulation and are widely used in the construction industry. The global sandwich panels market size was valued at $20.21 billion in 2021, and is projected to reach $39.16 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
Rise in construction activities across various regions such as Europe & Asia-Pacific and increase in demand for high appealing designs for buildings are expected to fuel the sandwich panel market growth. For instance, according to the German Construction Federation (ZDB) and the German Construction Industry Federation (HDB), 4% growth in the German construction sector reached to $124.45 billion from 2020 to 2022.
Drivers
The growing demand for lightweight construction materials in the automotive, transportation, and manufacturing industries is expected to be a major factor driving the demand for sandwich panels. These panels are also used in the construction of residential and commercial buildings due to their high insulation capability, which helps reduce energy costs. Furthermore, governments in various countries are promoting the use of energy-efficient materials in the construction industry, which is expected to create a positive outlook for the market. Additionally, the increasing focus on sustainable building materials is likely to fuel the market growth.
Restraints
High initial costs associated with the installation of sandwich panels are expected to act as a key restraint for the market growth. In addition, the availability of substitutes such as wood, brick, and stone is likely to restrain the market growth.
𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮:- https://www.alliedmarketresearch.com/purchase-enquiry/17408
Opportunities
The growing adoption of sandwich panels in the emerging markets of Asia Pacific and Latin America is expected to create significant opportunities for the market during the forecast period. The development of technologically advanced insulation materials is likely to create lucrative opportunities for the market players.
Challenges
The lack of awareness regarding the benefits of sandwich panels is expected to be a major challenge for the market.
𝗧𝗵𝗲 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀
The key players that operate in the sandwich panels market are 3A Composites, Arcelor Mittal Construction, Arconic, Arpanel, Dana Group, Extreme Panel Technologies, INC., Fischer Profil GmbH, INGREEN SYSTEMS, ISOMEC SRL, Italpannelli, Jiangsu Jingxue Insulation Technology Co. Ltd., Kingspan Group, Marcegaglia, Metecno group, Nucor Corporation (Nucor Building Systems), Premier Building System, INC., and Rautarukki Corporation.
𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩: – https://www.alliedmarketresearch.com/checkout-final/8c48aee76dbda5213fd79bb2c7fcb0bb
𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄
The global sandwich panels market is expected to witness significant growth during the forecast period due to the increasing demand for lightweight construction materials in the automotive, transportation, and manufacturing industries. The growing focus on sustainable building materials is likely to create significant opportunities for the market. However, the high initial costs associated with the installation of sandwich panels are expected to act as a key limitation for the market.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060