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 fuelling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
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 preferred over traditional panels due to their ease of installation, cost-effectiveness, and low maintenance. These panels are extensively used in various end-use sectors such as shopping malls, sports facilities, cold stores, warehouses, commercial and industrial buildings, and transportation.
Based on end use, the global sandwich panel market is bifurcated 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
The COVID-19 pandemic had a significant impact on many economies, leading to a rise in the number of cases and subsequent lockdowns of numerous manufacturing facilities. As a result, the growth of the sandwich panel market was negatively affected. Additionally, the pandemic had an adverse impact on the construction and transportation industries, with the supply chain disruptions of sandwich panels and other construction materials leading to a near negligible construction of industrial and commercial buildings. However, with governments taking significant measures, the market is showing signs of recovery. The construction industry is also overcoming the challenges posed by supply chain disruptions of raw materials, which is expected to provide the necessary boost 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 divided into polyurethane, polyisocyanurate, mineral wool, and others. Based on application, the sandwich panel market is categorized 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.
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