Market Overview:
A sandwich panel is any structure made of three layers: a low-density core, and a thin skin-layer bonded to each side. Sandwich panels are used in applications where a combination of high structural rigidity and low weight is required. Sandwich panels are an example of a sandwich structured composite: the strength and lightness of this technology make it popular and widespread. Its versatility means that the panels have many applications and come in many forms: the core and skin materials can vary widely and the core may be a honeycomb or a solid filling.
Market Dynamics:
High growth in the construction industry globally is the major driver for the growth of the market. In building and construction, these prefabricated products designed for use as building envelopes.

However, Fluctuations in the prices of raw materials is the key restraint hindering the market growth.

Market Segmentation:
By application, the sandwich panels market is segmented into side wall paneling, facade panels, roof panels, wall panels, and insulated panels.

By end-use industry, the sandwich panels market is classified into residential construction, commercial construction, industrial construction, and others. Others include automotive and transportation.

On the basis of type, the sandwich panels market is classified into mineral wool, expanded polystyrene (EPS), polyisocyanurate (PIR), polyurethane (PUR), and, others. Others include glass wool and rock wool.Expanded polystyrene (EPS) segment is expected to grow with high CAGR rate in the forecast period owing to its cost-effective, lightweight construction material with excellent insulation properties.

Sandwich panels with expanded polystyrene core are the most economical solution for roofs, outside and inside walls. The right profilation of panels provides tightness and stiffness, the polystyrene core placement system on the panel connection makes using of additional sealants unnecessary, which greatly accelerates the installation of the panels and makes it easier. As expanded polystyrene offerings grow in popularity and acceptance, new technologies and uses for the material will continue to evolve. The material has already proven itself and its capabilities in numerous construction applications.

Geographical Analysis:
Asia Pacific is expected to grow with a high CAGR rate in the forecast period due to the increasing housing construction market, particularly in India and China. Furthermore, low-interest rates for home mortgages have increased residential construction is the other key driving factor for the growth of the market in Asia Pacific especially in India. Tax redemption is likely to drive the construction market of middle-class houses in Asia Pacific economies. For instance, Indian Government has reduced the GST taxes from 12% to 5%.

Competitive Analysis:
Some of the major players include Cornerstone Building Brands, INVESPANEL SL, Rautaruukki Corporation, ArcelorMittal Construction, Assan Panel AS, Safal Group, Cornerstone Building Brands, Areco, Kingspan Group, and Tata Steel Limited.

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