Others Segment to Dominate Europe Sandwich Panel Market during 2020–2028
According to The Insight Partners market research study on “Europe Sandwich Panel Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material, Application, and Use” is expected to reach US$ 850.44 million by 2028 from 563.59 US$ million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the Europe sandwich panel market along with the drivers and restraints pertaining to the market growth. Significant demand for PVDF-based aluminum composite panels is the major factor driving the growth of the Europe sandwich panel market. However, issues associated with high flammability of sandwich panels hinders the growth of Europe sandwich panel market.
Europe sandwich panel market is segmented into material, application, end use, and country. Based on type, the Europe sandwich panel market is segmented into polyurethane, polyisocyanurate, mineral wool, and others. The others segment held the largest share in the Europe sandwich panel market in 2020. Based on application, the Europe sandwich panel market has been segmented into wall panels, roof panels, and others. The wall panels segment held the largest share in the Europe sandwich panel market in 2020. Based on end use, the Europe sandwich panel market is segmented into residential and non-residential. The non-residential segment held a larger share in the Europe sandwich panel market in 2020. Based on country, the Europe sandwich panel market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe.
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 Europe 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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