Foam Sandwich Panels Market Size, Share, Growth, and Industry Analysis by Type (PUR/PIR Sandwich Panels, EPS Sandwich Panels, and Others) By Application (Building Wall, Building Roof, Cold Storage, and Others), Regional Insights, and Forecast To 2031

Updated On: 13 November 2023

Foam Sandwich Panels Market REPORT OVERVIEW

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The global foam sandwich panels market size is predicted to value at USD 7064.9 million in 2021 and market is projected to touch USD 14816.03 million by 2031, exhibiting a compound annual growth rate (CAGR) of 7.7% from 2021 to 2031.

By combining the layers of covering metals with insulating materials and binding agents, foam sandwich panels can be created as the building materials. Its primary capability is a defense against noise, severe weather, and rapid-fire outbreaks. Additionally, it is a feasible alternative to conventional roof panels due to its durability and speedy installation due to its straightforward design.

Insulation material is placed between two metal surfaces to create a foam sandwich panel, a composite material. It is a lightweight, long-lasting building material used to clad buildings' roofs, exterior walls, insulated interior walls, and cold storage. It is a system that shields the structure from outside forces and offers a very practical and affordable alternative for strong stands. The ultimate result is a building system that is reliable structurally, economical in terms of energy use, and labor-intensive in terms of cost.

COVID-19 Impact: Halt on Manufacturing Operations Resulted in Slower Market Growth

Around the world, a number of governments and private sector companies operate with minimal resources. The recent COVID-19 pandemic-related incidents have caused many businesses to entirely suspend operations. The lack of raw materials, manpower scarcity, and other factors caused a number of production processes for various materials and products to cease in the worldwide foam sandwich panels market. This is anticipated to constrain the demand for foam sandwich panels in the near future.                       

LATEST TRENDS

"Minimum Cost Advantage of Foam Sandwich Panels to Boost Market Growth"

This can be attributed to the foam sandwich panels' high insulating qualities and cost-effectiveness as well as their lightweight. Compared to mineral wools like rock wool and glass wool, it offers a minimum cost advantage of 20%. It also requires little upkeep. For interior and exterior walls as well as roofs, sandwich panels with an expanded polystyrene core are typically preferred today. Expanded polystyrene is becoming more and more widely used, which will lead to the development of new technologies and uses for it. During the forecast period, these factors are anticipated to boost the foam sandwich panels market growth.

Foam Sandwich Panels Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: PUR/PIR Sandwich Panels, EPS Sandwich Panels, and Others. Due to its better shock-absorbing capability, improved thermal & noise insulating qualities, and high strength-to-weight ratio, the PIR sandwich panels market segment earned the greatest revenue in foam sandwich panels market share.

• By Application Analysis

Based on application, the market is segmented as follows: Building Wall, Building Roof, Cold Storage, and Others. Building wall is the dominating segment in the foam sandwich panels market.

DRIVING FACTORS

"Foam Sandwich Panels in Various Sectors to Facilitate Market Development"

One of the most widely used building materials has been foam sandwich panels. There are various thicknesses available for the foam sandwich panels. Foam sandwich panels have extraordinarily excellent mechanical quality, enabling a variety of contemporary applications. Different cutting-edge and well-liked materials are being used more frequently to develop homes, offices, and other structures. Building and construction are a priority in many developing economies. Storefronts, retail centers, industrial buildings, educational institutions, advertisement screens, signage, display systems, hospitals, and curtain wall cladding of structures are all becoming more and more decorated with PVDF-coated foam sandwich panels. The market is therefore driven by the rising demand for foam sandwich panels in various application sectors.

"Advancements in the Panels to Promote Industry Progress"

The key element driving the expansion of the foam sandwich panels market is the emergence of infrastructure projects as a result of the fast industrialization and development of both developed and emerging countries. This foam sandwich panels market is also expanding as a result of the product's many benefits, which include thermal resistance, acoustic insulation, mechanical characteristics, impermeability, and fire behavior, among others. Additionally, the industry is anticipated to benefit greatly from advancements in these panels' thermal performance and the introduction of strict rules aimed at energy conservation.

RESTRAINING FACTORS

"High Production Cost to Hinder Market Growth"

The foam sandwich panels market's expansion is hampered by rising production costs, pricy application methods, and changes in raw material prices. The price of the sandwich panel differs depending on the application in addition to the material. They are utilized for floors, interior and exterior walls, and roof coverings of residential, commercial, and industrial structures. The cost of a sandwich panel can vary depending on a variety of elements, such as the material, application, end-user, the number of layers utilized, and their thickness. Every time, the price of the foam sandwich panels is determined by square meters.

Foam Sandwich Panels Market REGIONAL INSIGHTS

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"Increase in Demand to Propel Market Progress in North America"

These panels are in high demand due to the industrial sector's increased need for energy-efficient building materials as well as the expansion of retail chains. The largest regional market for foam sandwich panels is in North America. This province is unquestionably a leader due to the increased dominance of various manufacturing businesses and the increasing demand for contemporary building materials. The development of cold chains and warehouses will also receive more government attention, which will further the foam sandwich panels market's expansion.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Kingspan (Ireland)
• Metecno (India)
• Cornerstone Building Brands (U.S.)
• Nikkei Panel (Japan)
• Assan Panel (Netherlands)
• ArcelorMittal (Italy)
• Isopan (India)
• TATA Steel (Italy)
• Lattonedil (Japan)
• Nippon Steel Coated Sheet Corporation (China)
• Jiangsu Jingxue (Germany)
• Romakowski (Italy)
• Duowei (Italy)
• Italpannelli (Belgium)
• Marcegaglia (China)
• Nav Silex (Japan)
• Wiskind (New Zealand)
• Igkogyo (China)
• Huadu Group (U.S.)
• BRD New Material (India)
• Nucor Building Systems (India)
• Sanhemei (China)
• Zhongjie Group (China)
• GuangDong DaChang (New Zealand)
• BCOMS (U.S.)
• Multicolor (India)
• Pioneer India (India)

REPORT COVERAGE

The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.