The sandwich board market experienced significant growth in 2021, and this trend is expected to continue with a rapid revenue CAGR over the forecast period. Civil engineers in the construction and infrastructure industry use sandwich boards for insulation and weather resistance, while the residential housing sector uses them to reduce energy consumption. Sandwich boards are made up of three layers: an inner core made of rock wool or polymers and coated by metal sheets as the remaining two layers. The inner core is created from polyurethane or polyisocyanurate and is the thickest layer. Sandwich boards are used on roofs, walls, and terraces to provide protection to the structure. However, alternative coating technologies, such as elastomeric coatings, are posing as competition to these products. The increasing demand for insulation materials in houses and the growing construction sector are driving market revenue growth. The Polyurethane Core (PUR) is expected to register significant growth, while roofs are expected to register a significant revenue growth during the forecast period. The Asia Pacific region is expected to account for the largest revenue share in the global sandwich board market due to easy large manufacturing facilities and cheaper labor availability.
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Sandwich Board Market: Drive Factors
The global sandwich board market is experiencing significant growth due to various driving factors. One of the major factors contributing to market growth is the increasing use of sandwich boards in the construction and infrastructure industry. Civil engineers are utilizing sandwich boards due to their insulation and weather-resistant properties, and the residential housing sector is adopting them for their ability to reduce energy consumption.
Sandwich boards consist of three layers, with an inner core made of rock wool or polymers and coated by metal sheets as the remaining two layers. The inner core is created from lightweight materials like polyurethane or polyisocyanurate, which provide extreme insulation. These products are used as cladding on roofs, walls, and terraces to protect the structure from the elements.
Another driving factor for the sandwich board market is the increasing expenditure on sales and marketing in the construction industry. For example, commercial space absorption in major Indian cities was 31.9 million square feet as of 2020. Hence, there is a rising demand for roof cladding boards for commercial buildings.
The U.S. Green Building Council is also promoting the use of insulation materials for houses through its Leadership in Energy and Environmental Design (LEED), driving the growth of the sandwich board market.
However, the presence of alternative coating technologies, such as elastomeric coatings, is posing as competition to sandwich boards. These alternative methods can provide the same weather resistance easily, which may hinder the growth of the sandwich board market.
The rising construction industry and the housing and real estate sector present an opportunity for players in the sandwich board market. The demand for metal and foam panels in roofing and walls of infrastructures is growing globally, and energy efficiency that insulation panels provide will reduce energy consumption of households, leading to a more environment-friendly and sustainable construction. Hence, the sustainable real estate sector is a great opportunity for market players to delve into to increase demand for these panels.
Based on the type, the Polyurethane Core (PUR) is expected to register a significant growth over the forecast period. This variant is preferred due to its extreme thermal insulation properties, durability, water resistance, and high insulation properties. In addition, the roofs segment is expected to drive significant revenue growth due to its wide use as cladding on roofs to promote water and weather resistance and provide extreme insulation.
The Asia Pacific region is expected to account for the largest revenue CAGR over the forecast period due to factors such as large manufacturing facilities and cheaper labor availability.
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