There is a rising inclination toward sustainable and green products. Buildings constructed with sandwich insulated panels are more energy-efficient than traditional buildings. The sandwich panel also helps lower energy costs. Sandwich panels are mainly used in making ceilings, walls, doors, and floor panels of modern trucks. Advanced composite sandwich panels are increasingly used to lower weight in transportation. Less weight is directly correlated to less fuel consumption. Fuel and energy savings are important economically and environmentally. In addition, many sustainable bio-based foam cores and resins are being introduced. Market players are also focusing on offering composite panels made from bio-based materials. For instance, the EconCore company provides high-performance composite panels from renewable, bio-based polymers. EconCore offers a 100% bio-based composite panel. Recently, the company optimized the patented ThermHex production technology to produce honeycomb cores and sandwich panels made from bio-based plastics. Hence, the growing inclination toward sustainable products is expected to offer growth opportunities for the market in the coming years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA sandwich panel market. The MEA sandwich panel market is expected to grow at a good CAGR during the forecast period.
The MEA sandwich panel market is segmented into material, application, end use, and country. Based on type, the MEA sandwich panel market is segmented into polyurethane, polyisocyanurate, mineral wool, and others. Others segment held the largest share in the MEA sandwich panel market in 2020. Based on application, the MEA sandwich panel market has been segmented into wall panels, roof panels, and others. The wall panels segment held the largest share in the MEA sandwich panel market in 2020. Based on end use, the MEA sandwich panel market is segmented into residential and non-residential. Non-residential segment held the largest share in the MEA sandwich panel market in 2020. Based on country, the MEA sandwich panel market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of MEA. 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 MEA sandwich panel market.