The latest research report by QY Research emphatically states the global sandwich panels market is expected to be worth US$11,148 mn by 2025 from US$8,139 mn in 2018. Between the forecast years of 2018 and 2025, the market for sandwich panels is anticipated to surge at a moderate CAGR of 4.6%. Sandwich panels made of the low density insulating materials that is sandwiched between two layers under pressure. A wide range of industries use sandwich panels as they are cost-efficient insulation options while catering to energy-saving aspect of building and construction.
Some of the leading players operating in the global sandwich panels market are Kingspan, Metecno, Assan Panel, Isopan, NCI Building Systems, TATA Steel, ArcelorMittal, Romakowski, Lattonedil, RigiSystems, Silex, Isomec, GCS, Zhongjie Group, AlShahin, Nucor Building Systems, Tonmat, Marcegaglia, Italpannelli, Alubel, Changzhou Jingxue, Ruukki, Balex, Hoesch, Dana Group, Multicolor, Zamil Vietnam, BCOMS, Pioneer India, and Panelco among others. Out of these, the reports state, Kingspan holds a massive 30% share in the global sandwich panels market.
Global Sandwich Panels Market: Drivers
The growing number of building and construction activities across the globe are expected to propel the demand for sandwich panels. The remarkable pace of industrialization, especially in the emerging economies, is projected to play a significant role in the uptake of sandwich panels. These panels are less time-consuming construction solutions, which is driving their demand. The easy installation process and affordability of these panels are expected to bode well for the global market. Urbanization and infrastructural development across the world is expected to raise the demand for residential and non-residential construction, which in turn is expected to have a positive impact on the global sandwich panels.
Global Sandwich Panels Market: Forecast by Segmentation
On the basis of type, the global sandwich panels market is segmented into EPS sandwich panels, PUR/PIR sandwich panels, mineral wool sandwich panels, and PF sandwich panels. On the basis of application, the market is segmented into building wall, building roof, and cold storage. Analysts anticipate that the building wall segment will dominate the global market as its consumption was recorded at 223 million sqm in 2016. The report predicts that the segment will continue to rise as construction of residential as well as non-residential buildings will remain on the rise.
Global Sandwich Panels Market: Forecast by Region
On the basis of region, the global sandwich panels market is segmented into North America, Asia Pacific, Europe, and Central and South America. Europe leads the global market in terms of consumption as it held a 33% share in the market in 2016. North America accounted for 24.3% share in the global sandwich panels market in 2016. Analysts anticipate that Asia Pacific will also be a key regional market as the emerging economies in the region boast of tremendous infrastructural development and construction.
Full Report Overview@ https://www.qyresearch.com/index/detail/740659/global-sandwich-panels-market