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

HYDERABAD, TELANGANA, INDIA, September 19, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that 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. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Steel-Sandwich-Panels-Market-Research-501459

Key takeaways :

1. 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.

2. 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.

3. 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.

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Segmental Analysis :

1. 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.

2. 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.

3. 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.

Competitive Landscape :

The top 5 players in the Steel Sandwich Panels Industry are -

1.Arcelor Mittal SA

2. Fischer Profil Gmbh

3. Alubel Spa

4. Balex Metal Sp Z.O.O.

5. Isopan Spa

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Related Reports :

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https://www.industryarc.com/Report/18764/steel-market

B. Steel Fabrication Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis
https://www.industryarc.com/Report/18235/steel-fabrication-market-research-report-analysis.html

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