Steel Sandwich Panels Market - Forecast(2023 - 2028)

Report Code: CMR 93451 Report Format: PDF + Excel

Steel Sandwich Panels Market Overview

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. Steel sandwich panel is a common building material widely used in roof & wall insulation systems in industrial plants, warehouses, gymnasiums and other applications owing to its great heat and sound insulation properties. The various types such as expandable polystyrene panels, polyurethane panels, glass wool panels, power factor panels and mineral wool panels find their application in various end-use industries owing to their high strength & excellent corrosion resistance, easy installation and lightweight properties. The increase in construction and building maintenance activity will drive the steel sandwich panels industry. For instance, as per the U.S. Department of Commerce, the U.S. construction spending for May 2022 is around US$1,779.8 billion and is 9.7% above the May 2021 estimate of US$1,621.9 billion. Therefore, the rise in construction spending will increase construction activity and in turn will drive the steel sandwich panels market. However, the global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in demand for steel sandwich panels in building construction and maintenance activity all across the world, which had a significant impact on the growth of the steel sandwich panels industry.

Steel Sandwich Panels Market Report Coverage

The report: “Steel Sandwich Panels Market Report – Forecast (2022 - 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Steel Sandwich Panels industry.

By Type: EPS (expanded polystyrene) Panels, Polyurethane (PU) Panels, Glass Wool Panels, PF Panels, Polyisocyanurate (PIR) panels and Others.
By Application: Building Roof Insulation, Building Wall Insulation, Interior & Exterior Decoration, Cold Room, Freezer Room, Sound-Heat-Insulating and Others.
By End-use Industry: Residential Building (Independent Home, Large Appartements, Row Houses), Commercial Building (Hospital & Healthcare, Educational Institutes, Hotels & Restaurants, Banks & Financial Institutions, Airports, shopping malls, Hyper & Super Market and Others), Industrial Building (Industrial Plant, Wearhouse, Mobile Houses and Others), Agriculture & Husbandry Building and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World: Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa).

Key Takeaways

  • The Asia-Pacific region dominates the Steel Sandwich Panels Market share with a CAGR of 9.4% during the forecast period (2022-2027) owing to the rising growth in the development of high-rise towers and commercial buildings in various countries such as China, India, Japan and South Korea.
  • Growing awareness about energy-efficient buildings, improvement in thermal performance of sandwich panels and implementation of stringent regulations towards energy conservation is boosting the steel sandwich panel market size between 2022-2027.
  • The rise in industrialization is boosting the demand for industrial buildings which in turn will raise the demand for glass wool panels, polyurethane panels and power factor panels.

Figure: Steel Sandwich Panels Market Revenue Share in 2021, By Geography (%)


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Steel Sandwich Panels Market Segment Analysis – By Type

The expandable polystyrene panels segment of steel sandwich panels held the largest Steel Sandwich Panels Market share in 2021 and is expected to grow at a CAGR of 7.8% during 2022-2027. The expandable polystyrene panels are fabricated by heating the polystyrene beads and expanding them to more than 50 times their existing size. The expandable polystyrene panels are cost-effective and have thermal resistance properties. These products are widely used for purification plant ceilings, enclosures and purification products of industrial plants, warehouses and many more. The growing building construction and repair & maintenance activity will drive the steel sandwich panels industry. According to the U.S. Associated of General Contractors, construction is one of the largest customers for manufacturing, mining and a variety of services in the U.S. economy with US$1.4 trillion worth of structures each year. Thus, with the rise in the construction activity globally, the demand for expandable polystyrene panels segment will increase and in turn boost the demand for steel sandwich panels market size during the forecast period.

Steel Sandwich Panels Market Segment Analysis – By End-use Industry

The residential sector held a significant Steel Sandwich Panels Market share in 2021 and is estimated to grow at a CAGR of 8.9% during the forecast period 2022-2027. Steel sandwich panels such as polyurethane panels, glass wool panels, power factor panels and mineral wool are widely used for various applications such as building roof insulation, building wall insulation, interior & exterior decoration, sound-heat-insulating and others owing to their ease of application. The demand for steel sandwich panels is rising due to the increase in residential construction activity globally. For instance, residential construction spending is valued at US$938.2 billion in May 2022, a 0.2% has been increased as compared to the April 2022 estimate of US$935.9 billion in the U.S. Such growth in the investment for residential projects will propel the growth of the steel sandwich panels market size.

Steel Sandwich Panels Market Segment Analysis – By Geography

Asia-Pacific region dominated the Steel Sandwich Panels Market share by 42% in the year 2021, owing to the rising investment in the construction, repair and maintenance of building in the region. China is estimated to witness growth in the demand for glass wool panels, polyurethane panels, power factor panels and mineral wool due to the rise in construction activity. For instance, in January 2022, China unveiled a development plan for its construction industry to push the pillar sector of the country's economy onto a greener, smarter and safer path with the plan to modernize its industrial chain. Moreover, Vietnam Ho Chi Minh City People’s Committee issued a decision approving the adjustment of the 1/500 detailed planning of the eco-smart city project invested by Lotte Group with a capital of nearly US$1 billion to develop commercial & residential units in Thu Thiem New Urban Area of Thu Duc city at the end of 2021. Such initiatives and investments from the government for construction and development projects in the APAC countries are anticipated to increase the demand for steel sandwich panels and are proving to be a market booster for the steel sandwich panels market size in this region. 

Steel Sandwich Panels Market Drivers

Increasing demand for Steel Sandwich Panels with the growing Housing projects 

The government initiatives in the development of affordable housing globally are expected to support the growth of the steel sandwich panels market size over the forecast period. Accordingly, it launched various social housing programs such as the Housing for Poor Rural Families Program, low-rent housing for industrial zone employees and low-income urban social housing-local government. For instance, there are more than 260 ongoing projects providing about 219,000 apartments in Vietnam as per the Ministry of Construction. Also, the various commercial & industrial construction project kicked off in the fourth quarter of 2021 in Indonesia are the Tuban olefin complex project, Gresik copper smelting plant, plaju green diesel refinery and many more. Thus, significant market traction from the increasing usage of polyurethane panels and glass wool panels across residential and commercial construction is further projected to fuel the market growth. 

The growing need for Energy Efficient Buildings

The growing need for energy-efficient buildings is mainly due to electricity emissions from buildings from different electronic devices like air conditioners, coolers and others. According to the United Nations Environment Programme, building operations accounted for 28% of global emissions while construction-related industries like cement, glass and others added another 10% of emissions. The steel sandwich panels are widely used for building roof insulation, building wall insulation, interior & exterior decoration and sound-heat-insulating. Owing to this, the use of electric appliances will decrease. Therefore, growing emission from a building is boosting demand for the steel sandwich panels market during the forecast period.

Steel Sandwich Panels Market Challenges

Higher cost of steel sandwich panels

The cost of steel sandwich panels is much higher compared to traditional lagging and cladding insulation techniques. The reason behind this is its production cost while producing steel sandwich panel products. The machinery and the equipment which are used are tagged with higher expense, also, these types of machinery require high maintenance. Owing to this factor, the product of steel sandwich panels comes at a higher price as compared to its alternative materials, which tends to constrain the growth of the market. Also, expensive application techniques and fluctuations in raw material prices will hamper the market growth.

Steel Sandwich Panels Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies players adopt in the Steel Sandwich Panels Markets. The top 10 companies in the Steel Sandwich Panels industry include:

  1. Arcelor Mittal SA
  2. Fischer Profil Gmbh
  3. Alubel Spa
  4. Balex Metal Sp Z.O.O.
  5. Isopan Spa
  6. Isomec Srl
  7. Kingspan Group Plc
  8. Metecno Pty Ltd.
  9. Omnis Exteriors Ltd.
  10. Silex

Recent Developments:

  • In November 2021, AGACAD announced the release of Sandwich Panels, the latest solution to join the ranks of our specialized framing software for Autodesk Revit.
  • In June 2021, Nucor Corporation has signed a definitive purchase agreement to acquire Cornerstone Building Brands' insulated metal panels (IMP) business which includes wall and roof panel solutions comprised of an energy-efficient foam core sandwiched between two layers of steel or aluminum and are available in a variety of widths, thicknesses and exterior finishes.
  • In December 2020, ArcelorMittal Construction signed an agreement with Llentab, a manufacturer and contractor for steel buildings, to acquire its Kungshamn panel production line in Sweden which produces mineral wool (MiWo) panels for steel buildings, adds to the existing profile production lines in ArcelorMittal Construction’s Swedish business.

Relevant Reports

Report Code: CMR 1198

Report Code: CMR 1055

Report Code: CMR 1144 

For more Chemicals and Materials related reports, please click here

1. Steel Sandwich Panels Market - Market Overview
    1.1 Definitions and Scope 
2. Steel Sandwich Panels Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End-use Industry
    2.4 Key Trends by Geography
3. Steel Sandwich Panels Market – Comparative analysis 
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Steel Sandwich Panels Market - Startup Companies Scenario Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Steel Sandwich Panels Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Steel Sandwich Panels Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Steel Sandwich Panels Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Steel Sandwich Panels Market – by Type (Market Size - US$ Million/Billion)
    8.1 EPS (Expanded Polystyrene) Panels
    8.2 Polyurethane (PU) Panels
    8.3 Glass Wool Panels
    8.4 PF Panels
    8.5 Polyisocyanurate (PIR) Panel
    8.6 Others 
9. Steel Sandwich Panels Market – by Application (Market Size - US$ Million/Billion)
    9.1 Building Roof Insulation
    9.2 Building wall insulation
    9.3 Interior & Exterior decoration
    9.4 Cold room
    9.5 Freezer room
    9.6  Sound-Heat-Insulating
    9.7 Others 
10. Steel Sandwich Panels Market – by End-use Industry (Market Size - US$ Million/Billion)
    10.1 Residential Building
        10.1.1 Independent Home
        10.1.2 Large Appartements
        10.1.3 Row Houses
    10.2 Commercial Building
        10.2.1 Hospital & Healthcare
        10.2.2 Educational Institutes
        10.2.3 Hotels & Restaurants
        10.2.4 Banks & Financial Institutions
        10.2.5 Airports
        10.2.6 Shopping Malls
        10.2.7 Hyper & Super Market
        10.2.8 Others
    10.3 Industrial Building
        10.3.1 Industrial Plants
        10.3.2 Wearhouse
        10.3.3 Mobile Houses
        10.3.4 Others
    10.4 Agriculture & Husbandry Building
    10.5 Others 
11. Steel Sandwich Panels Market - by Geography (Market Size - US$ Million/Billion)
    11.1 North America
        11.1.1 the USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 the UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 the Netherlands
        11.2.6 Spain
        11.2.7 Belgium
        11.2.8 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 the Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Steel Sandwich Panels Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Steel Sandwich Panels Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Steel Sandwich Panels Market – Key Company List by Country Premium Premium
15. Steel Sandwich Panels Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10  Company 10 and more    
* "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES

1.Global Global Steel Sandwich Panel Market, By Material Market 2019-2024 ($M)
1.1 Eps Panel Market 2019-2024 ($M) - Global Industry Research
1.2 Pu Panel Market 2019-2024 ($M) - Global Industry Research
1.3 Glass Wool Panel Market 2019-2024 ($M) - Global Industry Research
1.4 Pf Panel Market 2019-2024 ($M) - Global Industry Research
2.Global Global Steel Sandwich Panel Market, By Material Market 2019-2024 (Volume/Units)
2.1 Eps Panel Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Pu Panel Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Glass Wool Panel Market 2019-2024 (Volume/Units) - Global Industry Research
2.4 Pf Panel Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Global Steel Sandwich Panel Market, By Material Market 2019-2024 ($M)
3.1 Eps Panel Market 2019-2024 ($M) - Regional Industry Research
3.2 Pu Panel Market 2019-2024 ($M) - Regional Industry Research
3.3 Glass Wool Panel Market 2019-2024 ($M) - Regional Industry Research
3.4 Pf Panel Market 2019-2024 ($M) - Regional Industry Research
4.South America Global Steel Sandwich Panel Market, By Material Market 2019-2024 ($M)
4.1 Eps Panel Market 2019-2024 ($M) - Regional Industry Research
4.2 Pu Panel Market 2019-2024 ($M) - Regional Industry Research
4.3 Glass Wool Panel Market 2019-2024 ($M) - Regional Industry Research
4.4 Pf Panel Market 2019-2024 ($M) - Regional Industry Research
5.Europe Global Steel Sandwich Panel Market, By Material Market 2019-2024 ($M)
5.1 Eps Panel Market 2019-2024 ($M) - Regional Industry Research
5.2 Pu Panel Market 2019-2024 ($M) - Regional Industry Research
5.3 Glass Wool Panel Market 2019-2024 ($M) - Regional Industry Research
5.4 Pf Panel Market 2019-2024 ($M) - Regional Industry Research
6.APAC Global Steel Sandwich Panel Market, By Material Market 2019-2024 ($M)
6.1 Eps Panel Market 2019-2024 ($M) - Regional Industry Research
6.2 Pu Panel Market 2019-2024 ($M) - Regional Industry Research
6.3 Glass Wool Panel Market 2019-2024 ($M) - Regional Industry Research
6.4 Pf Panel Market 2019-2024 ($M) - Regional Industry Research
7.MENA Global Steel Sandwich Panel Market, By Material Market 2019-2024 ($M)
7.1 Eps Panel Market 2019-2024 ($M) - Regional Industry Research
7.2 Pu Panel Market 2019-2024 ($M) - Regional Industry Research
7.3 Glass Wool Panel Market 2019-2024 ($M) - Regional Industry Research
7.4 Pf Panel Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
2.Canada Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
3.Mexico Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
4.Brazil Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
5.Argentina Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
6.Peru Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
7.Colombia Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
8.Chile Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
9.Rest of South America Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
10.UK Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
11.Germany Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
12.France Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
13.Italy Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
14.Spain Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
15.Rest of Europe Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
16.China Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
17.India Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
18.Japan Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
19.South Korea Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
20.South Africa Steel Sandwich Panels Market Revenue, 2019-2024 ($M)
21.North America Steel Sandwich Panels By Application
22.South America Steel Sandwich Panels By Application
23.Europe Steel Sandwich Panels By Application
24.APAC Steel Sandwich Panels By Application
25.MENA Steel Sandwich Panels By Application
26.Arcelormittal Sa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Alubel Spa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Balex Metal Sp Z O O, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Fischer Profil Gmbh, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Silex, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Isomec Srl, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Isopan Spa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Kingspan Group Plc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Metecno Pty Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Omnis Exterior Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)