The sandwich panel market in North America is expected to grow from US$ 605.13 million in 2021 to US$ 953.59 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028.
Sandwich panels are increasingly used in many commercial settings, including large refrigeration areas. They are also ideal for warehouses to store sensitive items that need to be kept at a steady temperature, such as frozen products and other temperature-sensitive items. Increasing urbanization and rising retail food processing demand for products that need efficient cold storage facilities. Furthermore, during the COVID-19 pandemic, increased online grocery sales and expanded e-commerce channels resulted in the need to expand cold storage facilities.
Sandwich panels are used in refrigerated trucks, also known as reefer trailers, for transporting temperature-sensitive items. Reefer vehicles maintain temperature throughout the supply chain to ensure that the product reaches the consumers in a fresh condition. Most cold chain products are transported through reefer vehicles in many developed countries. With the growth in the food service industry, the demand for reefer trucks is also increasing. The growing demand for ready-to-eat/cook, dairy products, and pharma items is propelling the demand for these reefer trucks, in turn, creating the need for sandwich panels.
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 North America sandwich panel market. The North America sandwich panel market is expected to grow at a good CAGR during the forecast period.
North America Sandwich Panel Market Revenue and Forecast to 2028 (US$ million)
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North America Sandwich Panel Market Segmentation
North America sandwich panel market is segmented into material, application, end use, and country. Based on type, the North America sandwich panel market is segmented into polyurethane, polyisocyanurate, mineral wool, and others. The others segment held the largest share in the North America sandwich panel market in 2020. Based on application, the North America sandwich panel market has been segmented into wall panels, roof panels, and others. The wall panels segment held the largest share in the North America sandwich panel market in 2020. Based on end use, the North America sandwich panel market is segmented into residential and non-residential. The non-residential segment held a larger share in the North America sandwich panel market in 2020. Based on country, the North America sandwich panel market is segmented into the US, Canada, and Mexico. The US held the largest market share in 2020. 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 North America sandwich panel market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. North America Sandwich Panel Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Sandwich Panel Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Cold Storage Uses of Sandwich Panels
5.1.2 Growing Demand for PVDF-based Aluminum Composite Panels
5.2 Market Restraints
5.2.1 Flammability of Sandwich Panels
5.3 Market Opportunities
5.3.1 Significant Growth in Construction Industry
5.4 Future Trends
5.4.1 Growing Inclination for Sustainable Products
5.5 Impact Analysis of Drivers and Restraints
6. Sandwich Panel Market– North America Analysis
6.1 North America Market Overview
6.2 North America Sandwich Panel Market –Revenue and Forecast To 2028 (US$ Million)
7. North America Sandwich Panel Market Analysis – By Material
7.1 Overview
7.2 North America Sandwich Panel Market, By Material (2020 and 2028)
7.3 Polyurethane
7.3.1 Overview
7.3.2 Polyurethane: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Polyisocyanurate
7.4.1 Overview
7.4.2 Polyisocyanurate: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Mineral Wool
7.5.1 Overview
7.5.2 Mineral Wool: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Sandwich Panel Market Analysis – By Application
8.1 Overview
8.2 North America Sandwich Panel Market, By Application (2020 and 2028)
8.3 Wall Panels
8.3.1 Overview
8.3.2 Wall Panels: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Roof Panels
8.4.1 Overview
8.4.2 Roof Panels: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Sandwich Panel Market Analysis – By End Use
9.1 Overview
9.2 North America Sandwich Panel Market, By End Use (2020 and 2028)
9.3 Residential
9.3.1 Overview
9.3.2 Residential: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Non-Residential
9.4.1 Overview
9.4.2 Non-Residential: Sandwich Panel Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Sandwich Panel Market – Country Analysis
10.1 Overview
10.1.1 North America: Sandwich Panel Market, by Key Country
10.1.1.1 US: Sandwich Panel Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Sandwich Panel Market, by Material
10.1.1.1.2 US: Sandwich Panel Market, by Application
10.1.1.1.3 US: Sandwich Panel Market, by End Use
10.1.1.2 Canada: Sandwich Panel Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Sandwich Panel Market, by Material
10.1.1.2.2 Canada: Sandwich Panel Market, by Application
10.1.1.2.3 Canada: Sandwich Panel Market, by End Use
10.1.1.3 Mexico: Sandwich Panel Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Sandwich Panel Market, by Material
10.1.1.3.2 Mexico: Sandwich Panel Market, by Application
10.1.1.3.3 Mexico: Sandwich Panel Market, by End Use
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Kingspan Group PLC
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Assan Panel
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 TATA STEEL
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 ISOPAN
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 ArcelorMittal
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Lattonedil
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Italpannelli S.R.L.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Dana Group of Companies
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Zhongjie Group
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Multicolor Steels India Pvt. Ltd.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. US Sandwich Panel Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 2. US Sandwich Panel Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Sandwich Panel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: Sandwich Panel Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Sandwich Panel Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada Sandwich Panel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Sandwich Panel Market, by Material – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico Sandwich Panel Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico Sandwich Panel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 10. Glossary of Terms, North America Sandwich Panel Market
LIST OF FIGURES
Figure 1. North America Sandwich Panel Market Segmentation
Figure 2. North America Sandwich Panel Market Segmentation – By Country
Figure 3. North America Sandwich Panel Market Overview
Figure 4. Wall Panels Held Largest Share of North America Sandwich Panel Market
Figure 5. US Held Largest Share of North America Sandwich Panel Market
Figure 6. Ecosystem: Sandwich Panel Market
Figure 7. Expert Opinion
Figure 8. North America Sandwich Panel Market Impact Analysis of Drivers and Restraints
Figure 9. North America: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 10. North America Sandwich Panel Market Revenue Share, By Material (2020 and 2028)
Figure 11. North America Polyurethane: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 12. North America Polyisocyanurate: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 13. North America Mineral Wool: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14. North America Others: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 15. North America Sandwich Panel Market Revenue Share, By Application (2020 and 2028)
Figure 16. North America Wall Panels: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 17. North America Roof Panels: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. North America Others: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 19. North America Sandwich Panel Market Revenue Share, By Material (2020 and 2028)
Figure 20. North America Residential: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 21. North America Non-Residential: Sandwich Panel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 22. North America: Sandwich Panel Market, by Key Country – Revenue (2020) (US$ Million)
Figure 23. North America: Sandwich Panel Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. US: Sandwich Panel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. Canada: Sandwich Panel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mexico: Sandwich Panel Market –Revenue and Forecast to 2028 (US$ Million)
- Arcelormittal
- Assan Panel
- Dana Group of Companies
- Isopan
- Italpannelli S.R.L.
- Kingspan Group
- Lattonedil
- Multicolor Steels India Pvt Ltd.
- Tata Steel
- Zhongjie Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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