Report : Asia Pacific Sandwich Panel Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material (Polyurethane, Polyisocyanurate, Mineral Wool, and Others), Application (Wall Panels, Roof Panels, and Others), and End Use (Residential and Non-Residential)
Wall Panels Segment to Dominate APAC Sandwich Panel Market during 2020–2028
According to a new market research study on “APAC Sandwich Panel Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material, Application, and Use” is expected to reach US$ 1,978.04 million by 2028 from 1,230.35 US$ million in 2021. The market is estimated to grow at a CAGR of 7.0% from 2021 to 2028. The report provides trends prevailing in the APAC sandwich panel market along with the drivers and restraints pertaining to the market growth Steady growth in construction industry is the major factor driving the growth of the APAC sandwich panel market. However, issues associated with high flammability of sandwich panels hinders the growth of APAC sandwich panel market.
APAC sandwich panel market is segmented into material, application, end use, and country. Based on type, the APAC sandwich panel market is segmented into polyurethane, polyisocyanurate, mineral wool, and others. The others segment held the largest share in the APAC sandwich panel market in 2020. Based on application, the APAC sandwich panel market has been segmented into wall panels, roof panels, and others. The wall panels segment held the largest share in the APAC sandwich panel market in 2020. Based on end use, the APAC sandwich panel market is segmented into residential and non-residential. The non-residential segment held a larger share in the APAC sandwich panel market in 2020. Based on country, the APAC sandwich panel market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC.
Arcelormittal, Assan Panel, Dana Group of Companies, Isopan, Italpannelli S.R.L., Kingspan Group, Lattonedil, Multicolor Steels India Pvt Ltd., Tata Steel, and Zhongjie Group are among the leading companies in the APAC sandwich panel market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, The Kingspan Group invested 2.5 billion euros in the first stage of the strategic partnership with H2 Green Steel in April 2021, as 65% of Kingspan's business revenue comes from the sale of its insulated panels, which sandwich panels for use on building facades. Using only low emissions steel would see Kingspan reduce embodied carbon in its insulated panel products by approximately 45%. It would also contribute to Kingspan Group's 2030 goal of cutting emissions from its supply chain by 50% by delivering up to a 35% reduction in the Group.
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