SteelSandwich Panels Market Overview:
The global steelsandwich panels market is witnessing a spurting rise over the past few years.The market growth is attributed to the burgeoning construction industryexperiencing increased numbers of commercial & residential projects.Besides, huge investments transpired by public & private sectors boost theconsumption of steel sandwich panels. Moreover, an increase in demand for thebuildings that deploy energy efficient materials escalates market growth.
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According toMarket Research Future (MRFR), the global steel sandwich panels marketvaluation is further projected to appreciate at 6% CAGR during the reviewperiod (2018-2023). The rapidly increasing population, urbanization, andindustrialization worldwide boost the demand in the building & constructionsectors. Also, the growing awareness of the benefits of fire protectionsolutions is a major driving force behind the growth of the market.
Additionally,growing uses of steel sandwich panels in other industries, such as automotive,aerospace, marine, O&G, and electrical & electronics, boost marketgrowth. Resultantly, Steel Sandwich Panels materials perceive an exponentialdemand, which allows its market to garner increasing traction on the globalfront. Furthermore, the rising government funding to motivate key companies tomanufacture new eco-friendly steel sandwich panels that can match changingtrends substantiate market growth.
Conversely,price volatility, and the demand-supply gap in raw material required for theproduction of steel sandwich panels is a major factor projected to impede themarket growth. Also, the lack of awareness of the advantages of sandwich panelsrestricts the growth of the market. Nevertheless,the increasing global economy would support the growth of the market throughoutthe assessment period, increasing the sales in end-use industries.
Global SteelSandwich Panels Market – Segmentations
The report is segmented into three dynamics;
By Type :EPS Panels, PU Panels, and PF Panels.
By Application : Residential, Commercial, Agricultural Farmhouse Buildings, ColdStorage, and others.
By Regions : Americas, Europe, APAC, and Rest of theWorld.
SteelSandwich Panels Market – Geographical Analysis
Europe dominatesthe global steel sandwich panels market. The leading market share attributes tothe continually rising demand for steel sandwich panels driven by governmentalregulations regarding reducing greenhouse emissions. Besides, the need toimprove the cost-efficiency of the buildings, alongside the adoption of theregulations regarding energy efficiency, drives the regional market growth.
Moreover, thepresence of major steel sandwich panel manufacturers, such as Kingspan Group(Ireland) and Isomec (Italy) in the region, fosters the growth of the market.Increasing applications of fire protection solutions in building &infrastructures and energy plants is a key driving force behind the regionalmarket growth. The European steel sandwich panels market is projected to retainits dominance throughout the review period.
The Asia Pacificregion stands second in the global steelsandwich panels market. The market is essentially driven by the growinginfrastructure and construction industries and the increased urbanization andindustrialization rates. Additionally, the government initiatives and fundingto support investments in the construction industry through their FDI policiesinfluence the growth of the steel sandwich panels market.
Furthermore,vast distribution channels and major manufacturers in the region, focusing onexpanding their business to generate huge profits above thereturn-on-investment, positively impact market growth. The various beneficialenergy efficiency government policies also create opportunities for the steelsandwich panels market in Asia-Pacific.
The NorthAmerica steel sandwich panels market is growing rapidly. Factors such as theburgeoning building & construction industry in the region witnessing hugeinvestments foster the market demand. Moreover, substantial investments frompublic & private sectors in residential & commercial constructionprojects substantiate the growth of the regional market.
Besides, thegrowing demand, alongside the rising numbers of production capacities in theregion, propels the growth of the market. Also, the augmenting demand from theburgeoning end user industries and the presence of a large number of O&Gplants in the region influence the market growth. The North American steelsandwich panels market size is expected to witness healthy growth,registering a healthy CAGR during the assessment period.
Global SteelSandwich Panels Market - CompetitiveLandscape
Highlycompetitive, the steel sandwich panels market appears to be fragmented with thepresence of several well-established players. Through strategic approaches suchas mergers & acquisitions, expansion, collaboration, and product/technologylaunch, players try to gain a larger competitive share in the market. They makehuge investments to drive the R&D required for a product launch. They alsoinvest substantially to expand their global footprint.
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MajorPlayers:
Players leadingthe global steel sandwich panels market include Kingspan (UK),ArcelorMittal SA, Isopan (Italy), Balex Metal SP Z.O.O., Isomec SRL, FischerProfil GmbH, Metecno Pty Ltd., Silex, and Omnis Exteriors Ltd., among others.
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