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The sandwich panel industry has been witnessing a considerable growth owing to the rise in infrastructural projects and high demand in the construction industry in developing and developed nations. In modern day construction, the use of high-performance materials is essential. When assessed with the concept of cost benefit analysis, sandwich panels are more economical than the conventional methods. Due to their easy installation process, sandwich panels prove to be cost-effective when compared to other wall assemblies. Other primary drivers for this market include the implementation of stringent regulations towards energy conservation, an increase in awareness about energy-efficient buildings, and improvement in the thermal performance of sandwich panels. All these factors are expected to significantly contribute to the demand for sandwich panels in the forecast period.
Institutional and infrastructure is one of the major end user industries driving the growth of the sandwich panel industry. These materials are lightweight, durable, and strong and can be used in a variety of applications. Further, many sandwich panel suppliers have their operation facilities and presence in North America to address the growing need of panels in the construction industry.
The growing partnerships and innovations in the industry are significantly contributing to the market expansion. In December 2019, ArcelorMittal (NYSE: MT), one of the key players in the industry, completed the acquisition of Essar Steel India Limited. The company has simultaneously established a joint venture with Nippon Steel, known as ArcelorMittal Nippon Steel India, which will own and operate Essar Steel. This acquisition will help the company to capture large profits in the steel industry. As aluminium and galvanised steel sheets are used in the metal layer of sandwich panels, such developments are expected to indirectly aid the sandwich panels industry growth by enhancing the steelmaking capacity of key players.
Market Analysis by Core Material, Skin Material, Application, End Use Sector, and Region:
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The major players in the global sandwich panels market are Kingspan Group, Tata Steel, Rautaruukki Corporation, ArcelorMittal Construction, ITALPANNELLI S.R.L., and DANA Group of Companies, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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