According to the latest report by IMARC Group, titled "Multi-Metal Aluminum Sandwich Panels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global multi-metal aluminum sandwich panels market reached a value of US$
6.7 Billion in 2022. Multi-metal aluminum sandwich panels generally comprise multiple layers of rigid substances that are bonded together by a lightweight core. They are characterized by superior flexural stiffness and strength, excellent energy absorption capacity and improved stability. In comparison to traditional building materials, these panels provide improved soundproofing and fire resistance in a cost-efficient manner. There has been a considerable increase in the utilization of multi-metal aluminum sandwich panels across the globe due to rapid industrialization. Along with this, the rising adoption of these panels for enhanced comfort and improved insulation across residential and commercial facilities is also providing a thrust to the market growth.
Global Multi-Metal Aluminum Sandwich Panels Market Trends:
The global market is primarily driven by significant growth in the construction industry. This is supported by increasing investments by private and public agencies in infrastructural development projects. Since these panels are lightweight, durable and exhibit excellent strength, this is providing a boost to the market growth. Along with this, the rising utilization of multi-metal aluminum sandwich panels in cold storage operations that aid in extending the shelf life of frozen food products, pharmaceutical drugs, seafood and chemicals is positively influencing the market growth. Furthermore, continuous product innovations, such as the introduction of honeycomb core sandwich panels that consist of shear thickening fluid (STF) fillings for slightly curved surfaces, are gaining widespread prominence across the globe. Additionally, the rising adoption of these panels in the manufacturing of aerospace and aircraft components is also providing an impetus to the market growth. Other factors, including the rapid expansion of organized retail chains and continual technological advancements in the production process, are further contributing to the market growth. On account of the aforementioned factors,the market is anticipated to reach a value of US$
9.8 Billion by 2028, growing at a CAGR of
5.91% during 2023-2028.
- On the basis of the metal, the market has been segmented into aluminum, steel, titanium and others.
- Based on the foam material, the market has been segregated into with foam (aluminum, glass wool, expanded polystyrene, polyurethane and others) and without foam.
- On the basis of the application, the market has been classified into aerospace, architectural, construction, automotive and locomotive, marine, chemical, oil and gas and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.Some of the key players are Al Shahin Metal Industries, ArcelorMittal S.A., Balex Metal Sp Z O O, Dana Incorporated, Isopan Spa, Italpannelli Srl, Kingspan Group plc, MBCI Inc. (NCI Building Systems Inc.), Metecno (India) Private Limited, Multicolor Steels (India) Pvt. Ltd, NS BlueScope and Rautaruukki Oyj (SSAB AB).
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