The Business Research Company’s Sandwich Panels Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ — The global sandwich panels market, a vital component in modern construction and various applications, is experiencing robust growth. Starting from $15.61 billion in 2023, it is projected to reach $16.99 billion in 2024, growing at a CAGR of 8.8%. It will grow to $22.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. This growth is fueled by increasing construction activities worldwide, rising per capita income, urbanization trends, and a shift towards sustainable building practices.
Driving Factors: Increased Construction Demand
The growth of the sandwich panels market is primarily driven by the burgeoning construction sector. With rapid urbanization and population growth, there is an escalating need for infrastructure, residential, and commercial spaces. Sandwich panels, known for their sustainability and energy efficiency benefits, are preferred in construction due to their quick assembly and insulation properties. For instance, the Office for National Statistics reported a 2.4% increase in monthly construction output in February 2023, underscoring the market’s upward trajectory.
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Major Players and Market Trends
Leading companies such as ArcelorMittal S.A., Kingspan Group, and Nucor Corporation are at the forefront of the sandwich panels market. These key players are investing in innovative technologies like sandwich panel design automation to enhance productivity and profitability. For instance, AGACAD launched sandwich panel design automation for Revit in January 2022, revolutionizing the design process in building information modeling (BIM).
Trends in the Market
In the forecast period, aluminum and steel skin materials are gaining popularity in sandwich panel construction, extending their applications beyond traditional building structures. Collaborations between suppliers and contractors are also on the rise, fostering innovation and expanding market reach.
Sandwich Panels Market Segments
• Core Material: Polyurethane, Polyisocyanurate, Mineral Wool, Expanded Polystyrene
• Skin Material: Continuous Fiber Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP), Aluminum, Steel
• Application: Wall Panels, Roof Panels, Insulated Panels
• End-Use: Residential, Commercial, Industrial, Institutional And Infrastructure
Geographical Insights: Asia-Pacific Leading Growth
North America dominated the sandwich panels market in 2023, with Asia-Pacific expected to witness the highest growth rate in the coming years. The comprehensive report offers detailed insights into regional dynamics, emerging trends, and growth opportunities.
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Sandwich Panels Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Sandwich Panels Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sandwich panels market size, sandwich panels market drivers and trends, sandwich panels market major players, competitors’ revenues, market positioning, and market growth across geographies. The sandwich panels market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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