The steel sandwich panel market in North America and Europe was valued at USD 4,780.4 Million in 2019 and is projected to reach USD 5,898.1 Million by 2027, expanding at a CAGR of 2.8% during the forecast period. Steel sandwich panels are used in applications such as building roofs, building walls, cold storage, and others. Demand for steel sandwich panel is driven by the rapid growth in construction of energy-efficient buildings.
Steel sandwich panels are construction materials manufactured by joining the layers of covering metals. It is a product that incorporates cladding of roof, floor and walls of a building. These panels are used in a number of applications, due to their durability, structural integrity, and strong insulation properties. Steel sandwich panels have the ability to protect the interior against sound, extreme weather conditions, and sudden breakout of fires.
Growth in construction activities due to increasing demand for steel sandwich panels is anticipated to boost the demand for residential and commercial buildings. This, in turn, is projected to fuel the steel sandwich panel market in North America and Europe during the forecast period.
Steel sandwich panels involve a high range of benefits such as protection against weather conditions, acoustic insulation, and fire, which is expected to fuel construction activities. This, in turn, is expected to increase the demand for steel sandwich panels during the forecast period.
Dry construction technique includes lightweight construction of interior walls, ceilings, and floors, using plastered or microfiber board, which is attached during installation. Dry construction is gaining popularity, as it helps in creating high-quality, low-cost, time-effective, and eco-friendly projects. Increasing demand for dry construction technique associated with steel sandwich panels is expected to drive the market during the forecast period.
Increasing construction of energy-efficient buildings is expected to increase the demand for steel sandwich panels during the forecast period. Energy-efficient building’s energy is used for heating, cooling, ventilating, lighting, water heating, and cooking.
Rising use of thermal performance of steel sandwich panels is due to their benefits such as heat retention in residential or commercial buildings. This, in turn, is expected to increase their demand during the forecast period. Fluctuation in the price of raw materials is projected to hinder the demand for steel sandwich panels. High cost of few of the types of steel sandwich panels along with high installation cost may hamper the market growth.
Increasing construction of cold storage and warehouses for vaccine storage are expected to create opportunities in the steel sandwich panel market. Thus, increasing number of construction projects is projected to create opportunities in the market during the forecast period.
Based on core materials, the steel sandwich panel market is segregated into polyurethane, polyisocyanurate, mineral wool, expanded polystyrene, and other core materials. The polyurethane segment held 20.8% share of the market in 2019, as it is majorly used in the construction industry. The expanded polystyrene (EPS) segment is anticipated to expand at a CAGR of 2.5% during the forecast period. Segment growth can be attributed to increasing applications of polyurethane in the construction sector and automotive industry, such as polyurethane-based joints used for weather-resistance in buildings.
In terms of properties, the steel sandwich panel market is classified as acoustic performance, fire resistance, and thermal insulation. The acoustic performance segment accounted for 43% share of the market in 2019 and is expected to expand at a substantial CAGR during the forecast period, due to their sound insulating properties. The thermal insulation segment is projected to expand at a rapid pace during the forecast period, due to increasing demand for steel sandwich panels in construction activities.
Based on applications, the steel sandwich panel market is segregated into building roofs, building walls, cold storage, and others. The wall panel segment held 40% share of the market in 2019, as it is majorly used in the construction industry. The roof panel segment is anticipated to expand at a CAGR of 2.6% during the forecast period. Segment growth can be attributed to the increasing demand for renovation of residential structures, due to improving living standards and increasing disposable income of individuals.
In terms of end-use industries, the steel sandwich panel market is classified as residential, commercial, industrial, institutional, and infrastructure. High demand for construction in the industrial sector is expected to be a major driver for the steel sandwich panel market during the forecast period, due to the growing demand for a strong industrial sector in emerging regions. The commercial segment is expected to lead the market during the forecast period, due to the increasing number of commercial construction projects with the requirement of energy-efficient and ecological materials.
On the basis of regions, the steel sandwich panel market is divided into North America and Europe. The steel sandwich panel market in North America market is expected to reach an estimation of around USD 1,900.4 million by 2027, due to the presence of major manufacturers in this region and increasing construction activities. The market in Europe accounted for 69.5% of the steel sandwich panel market in 2017 and is expected to grow at a CAGR of 2.4% over the forecast period, rising to a market valuation of around USD 3,997.7 million by 2027.
Germany is likely to remain the leading national market within Europe. Demand for steel sandwich panels is mainly driven by governmental regulations regarding reducing greenhouse emissions, need to improve the cost efficiency of the buildings, along with the adoption of regulations regarding energy efficiency.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report provides supply chain analysis along with a list of raw material suppliers, manufacturers, distributors, and customers.
According to the Growth Market Reports, the market for steel sandwich panels is likely to register a CAGR of 2.8% during forecast period 2020-2027, with an anticipated valuation of USD XX million by the end of 2027.
In addition to market size (in USD Million), company market share (in % for base year 2019), other data such as macro-economic factors and COVID-19 impact on the value chain are available in the final report.
The applications in the North America and Europe steel sandwich panel market includes building roof, building wall, cold storage, and others.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Demand for steel sandwich panels is expected to continue to increase over the forecast period, taking into account rapid growth in construction activities, awareness about the benefits associated with steel sandwich panels, and rising government support.
The market is expected to decrease around XX% between 2019 and 2020, owing to the negative impact of COVID-19 pandemic on the steel sandwich panel market.
The base year considered for the North America and Europe steel sandwich panel market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major Manufactures are Alubel S.p.A., ArcelorMittal, Areco, Balex-Metal, and Cornerstone Building Brands.
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