Sandwich Panels Market - Growth, Trends, and Forecast (2020 - 2025)

The sandwich panel market is expected to register a CAGR of around 6% during the forecast period. A sandwich panel consists of a core/insulating material of low-density sandwiched between two layers of metal, bonded under pressure.

New York, May 13, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sandwich Panels Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05893140/?utm_source=GNW
Sandwich panels are cost-efficient, lightweight, pre-fabricated elements, and are no less durable than the conventional building materials.

- The rising demand for these panels from the cold storage facilities is expected to drive the market. Moreover, the usage of PVDF-based aluminum composite panels is also expected to contribute to the market demand.
- On the flip side, the low fire performance of some sandwich panels is expected to restrain the market.
- Industrial sector is projected to dominate the market over the forecast period.

Key Market Trends
Industrial Segment to Dominate the Market

- In modern day construction, the use of high-performance materials is essential. High performance entails that the material is strong, lightweight, and durable, and can be used in a variety of applications. ?
- For this reliability, sandwich panels can be one of the best options for industrial buildings. The specific demand for energy in the residential and industrial buildings can be significantly reduced with modern insulation. ?
- The scope of applications is extremely diverse and ranges from the construction of industrial buildings using insulated roof and wall panels. In industrial applications, sandwich panels receive major demand from the cold storage buildings and warehouses. ?
- The number of cold storage operations that are meant to extend and ensure the shelf life of fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs are rapidly increasing. This rapid increase in the number of cold storages is due to the growing demand from the consumers, resulting from the changing lifestyles and advanced technologies.?
- The expansion of food retail chains by the multinational companies have led to an increase in the demand for cold storage. These factors, in turn, are expected to augment the demand for sandwich panels across the globe.
- Although the current impact of COVID-19 halted production in the construction sector at present, the industry is expected to recover soon. Overall, the growing industrial sector is expected to drive the market for sandwich panels through the years to come.

China to dominate the Asia-Pacific Region

- In Asia-Pacific, China is the largest economy in terms of GDP. The annual growth rate of the Chinese GDP was 6.6% in 2018 and 6.3% in 2019. China is one of the fastest-growing economies globally and almost all the end-user industries have been growing, owing to the rising population, living standards, and per capita income.
- However, owing to the international trade turbulences and unfavorable geopolitical affairs, the growth rate is expected to slow down in the initial years of the forecast period. Moreover, the COVD-19 pandemic is having a huge economic impact, as China’s economy contracted 6.8%, for the first time in decades in the first quarter of the year, as the virus forced factories and businesses to close.
- China is promoting and undergoing a process of continuous urbanization, with a 60% rate targeted by 2020. The increased living spaces required in the urban areas resulting from urbanization and the desire of middle-class urban residents to improve their living conditions will have a profound effect on the housing market, and thereby increase the usage of sandwich panels in construction applications. ?
- Demographics in China is expected to continue to spur the growth in residential construction. Rising household income levels along with population migration from rural to urban areas is expected to continue to drive demand for residential building construction sector in the country. Increased focus on affordable housing by both public and private sector will drive growth in residential building construction sector.?
- In the years to come, non-residential infrastructure is also expected to grow considerably. The aging population in China is creating demand for the construction of healthcare facilities and new hospitals.
- The above-mentioned factors and initiatives by the government are expected to rapidly boost the construction industry – residential, commercial, industrial and institutional, during the forecast period, as the government looks forward to boost activities in the construction sector, more specifically in the infrastructure sector, post the recovery from COVID-19, in order to bounce back from the economic impact being faced by the country. This factor, in turn, is expected to boost the demand for sandwich panel from the construction activities in the country.

Competitive Landscape
The sandwich panel market is fragmented, with the presence of numerous players sharing the market demand for sandwich panels. Key players in the sandwich panels market include ArcelorMittal Construction, ITALPANNELLI SRL?, Rautaruukki Corporation, Tata Steel, and Kingspan Group, among others.

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