Sandwich panels are well-proven construction component that are effective solutions for temperature control, insulation as well as they meet the aesthetic requirements. These panels act as pioneer in the developing construction techniques. Such panels are manufactured by joining the layers of the covering metals, with insulating materials and other binding agents. Sandwich panels offer a range of benefits to the buildings including protection against weather conditions, such as acoustic insulation, fire protection, easy and quick installation, and long durability. A key feature of the sandwich panels that promotes market growth is the easy assembly and disassembly of these panels. These panels are suitable for both walls and roofs and thus are preferred over the traditional roof panels and concrete panels.
The global Sandwich panels market is driven by various factors, such as rising demand for fast & economic construction techniques, and growing construction of commercial buildings & special economic zones (SEZs) in developing countries. However, a fluctuation in the prices of raw materials, might hinder the market growth during the forecast period.
The global sandwich panels market is expected to progress at 7.04% CAGR during the forecast period. In 2017, the market was led by Europe, with a 43.3% share, followed by Asia-Pacific with shares of 29.7% and North America with 19.4%.
The sandwich panels market has been segmented on the basis of type, application, and region. By type, the market has been segmented as PUR/PIR sandwich panels, EPS sandwich panels, glass wool, rock wool, and others. PUR/PIR sandwich panels segment held a market share of 35.1% in 2017; it is expected to register 7.18% CAGR during the forecast period. On the basis of application, the market has been segmented as residential buildings, commercial buildings, agricultural buildings, and cold storage. The commercial building segment accounted for a market share of 47.8% in 2017