The Steel Sandwich Panels Market size is forecast to reach US$3.3 billion by 2027, after growing at a CAGR of 8.2% during 2022-2027. The market for steel sandwich panels is being driven due to the rising demand for steel sandwich panels such as expandable polystyrene panels, polyurethane panels, glass wool panels, power factor panels and mineral wool for building roof insulation, building wall insulation, interior & exterior decoration and others. These products are widely used in building construction and others. The rise in the development of these industries will drive the market. For instance, in December 2020, Emerge Glass announced that it will begin the commercial production of container glass with a designed capacity of 210 tonnes per day in Behror, Rajasthan. Globally, the rising growth of construction activity is one of the major factors driving the demand for the steel sandwich panels market.
Steel sandwich panels Market: Leading
Segments - Building Roof Insulation
Based on application,
the steel sandwich panels market can be segmented into building roof
insulation, building wall insulation, interior & exterior decoration, cold
room, freezer room, sound-heat-insulating and others. The building roof
insulation is the leading steel sandwich panels segment. During the forecast
period 2022-2027, the building roof insulation segment is expected to grow with
a CAGR of 8.1%. This can be
attributed to various reasons such as the increase in housing projects and repair
& maintenance work globally.
Steel sandwich panels Market: Leading
Segments - The Asia Pacific
Asia-Pacific region dominated the steel sandwich
panels market in terms
of revenue with a share of 42% in 2021 and is
projected to dominate the market at a CAGR of 9.4%
by revenue during the forecast period (2022-2027). The increasing demand for steel sandwich
panels for building
insulation is driving the steel sandwich panels market. For instance, the Shanghai Chip Manufacturing Plant
of value at US$8,870 million begins construction in early 2022 and is expected
to be completed in the third quarter of 2024. Thus, such surging development
related to building & construction sectors in the Asia-Pacific region is
expected to boost the demand for steel sandwich panels.
Steel Sandwich Panels Market Trends
The rise in the
development of green construction has led the market growth as they are
considered to be environmentally friendly, highly durable and have great
thermal resistance properties. This means facility managers and property owners
can save thousands of dollars. Thus, the construction building sector is
providing a powerful tool to stimulate the economy, by moving the whole sector
to a new and greener place. Besides, green buildings can achieve massive
long-term savings in cost and greenhouse gas (GHG) emissions. For instance, in
2020 the International Energy Agency (IEA) estimates that sustainable buildings
can save up to US$1.1 trillion by 2050 in long-term construction spending.
Green housing construction is already a priority in various regions and the expected
demand for housing will create an estimated investment opportunity of US$4.1
trillion in green buildings. Thus, positively impacting the steel sandwich
Major Players in this Market Include
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the steel sandwich panels market. Global steel sandwich panels' top 10 players include Arcelor Mittal SA, Fischer Profil Gmbh, Alubel Spa, Balex Metal Sp Z.O.O., Isopan Spa, Isomec Srl, Kingspan Group Plc, Metecno Pty Ltd., Omnis Exteriors Ltd., Silex among others.
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