市場調查報告書
商品編碼
1609461
夾芯板的印度市場評估:各芯材類型,厚度,各用途,各建設類型,各最終用途產業,各地區,機會,預測(2018年度~2032年度)India Sandwich Panels Market Assessment, By Core Material Type, By Thickness, By Application, By Construction Type, By End-use Industry, By Region, Opportunities, and Forecast, FY2018-FY2032F |
印度夾芯板市場規模預計將從 2024 財年的 5.5861 億美元增至 2032 財年的 10.3932 億美元,預計在 2025 財年至 2032 財年的預測期內複合年增長率為 8.07%。由於快速的城市化和工業化,以及對節能建築材料的需求不斷增加,夾芯板在印度不斷增長。夾芯板對於冷藏設施至關重要,因此食品和製藥等各個行業都有需求。隨著印度冷鏈物流的擴張,夾芯板等良好的隔熱解決方案變得至關重要。政府透過基礎設施發展和經濟適用房投資的努力預計將增加對面板的需求。夾芯板可用於工業建築、商業基礎設施和住宅建築等各種應用,在不久的將來推動印度夾芯板市場的成長。從永續建築的角度來看,夾芯板也具有根本性的吸引力,因為它們重量輕且具有出色的隔熱性能。夾芯板市場包括各種具有不同尺寸、厚度和飾面的產品類別,以最好地滿足建築師和建築商的美學和功能要求。這可以簡化施工過程,同時確保整個建築生命週期的能源效率並降低營運成本。夾芯板公司與外國公司合作生產可帶來長期利益的創新夾芯板。
例如,2024 年 5 月,WNL BV 和塔塔鋼鐵有限公司合作為溫室建築業製造獨特的夾層屋頂板。這些夾芯板非常耐用、易於維護,並有助於節約能源,這推動了夾芯板在印度和國外的銷售。
本報告提供印度的夾芯板市場相關調查分析,提供市場規模與預測,市場動態,主要企業的形勢等資訊。
India sandwich panel market is projected to witness a CAGR of 8.07% during the forecast period FY2025-FY2032, growing from USD 558.61 million in FY2024 to USD 1,039.32 million in FY2032. Sandwich panels are witnessing growth in India due to rapid urbanization and industrialization and the increasing demand for energy-efficient construction materials. There is a demand for sandwich panels from a variety of sectors, including food and pharmaceuticals, as sandwich panels are a prerequisite for cold storage facilities. In the wake of expanding Indian cold chain logistics, good insulation solutions like sandwich panels have become indispensable. The government is making initiatives through investment in infrastructure development and affordable housing, which will increase the demand for panels. Sandwich panels can be used for various applications in industrial buildings, infrastructures associated with commercial purposes, and residential constructions, driving India's sandwich panel market growth in the near future. They are lightweight and have excellent thermal insulation properties, making them fundamentally attractive in the context of sustainable construction practices. The sandwich panels market is filled with diverse product categories in different dimensions, thicknesses, and finishes to fit best the aesthetic and functional requirements of architects and builders. This makes the construction process easier while ensuring energy efficiency and operational cost savings for the entire lifecycle of buildings. Sandwich panel companies are collaborating with foreign companies to manufacture innovative sandwich panels that will benefit them in the long run.
For instance, in May 2024, WNL B.V. and Tata Steel Limited collaborated to manufacture unique sandwich roof panels for the greenhouse construction sector. These sandwich panels are durable and low maintenance, and they contribute to energy conservation, fostering the sales of sandwich panels in India and abroad.
Non-Residential Construction Drives the Sandwich Panel Market
Non-residential construction drives the sandwich panels market as they are manufactured and installed within a short period to offer better insulation than the other systems. Sandwich panels are highly energy-efficient and minimize smoke contamination through non-combustible insulation. The excellent thermal insulation from sandwich panels makes it possible to maintain spaces warm or cooled. It maximizes savings in heating and cooling in non-residential buildings, which aligns with the customers' demands, eventually boosting the demand for sandwich panels in the market. Since they weigh less, construction and work processes go faster, making them ideal to use in industry. As a result, sandwich panels are utilized in non-residential construction projects, such as industrial buildings, factories, warehouses, public buildings, and pharmaceutical companies' storage houses, further fostering India sandwich panel market. The Indian real estate market is on the cusp of transformative growth due to government incentives and funding in the infrastructure sector.
For instance, in September 2024, according to CBRE Group, Inc. reports, significant growth is anticipated in the residential and non-residential sectors this year, with real GVA for FY2023-24 coming in at 7.2% and for the previous year at 6.7%. The retail segment continues to move along its upward trajectory, with focus areas being experiential shopping and expansion beyond Tier-I cities. As businesses strive to develop efficient and attractive commercial spaces, the demand to install sandwich panels will increase.
Automation in Manufacturing Drives the Sandwich Panel Market
Automation in manufacturing facilities in the Indian market is driving the demand for sandwich panels as technological advancements in the sandwich panel manufacturing process enhance quality, efficiency, and customization. The modern automated production line offers panel manufacturing for uniform quality and performance under precise control. Furthermore, recent advancements in continuous manufacturing technology enable the development of sandwich panels for specific applications, including cold storage and commercial buildings. The newly developed core materials, which include fiber-reinforced polymers, offer increased strength and fire resistance, meeting the demand for building materials that possess a higher quality level. Furthermore, due to the rising popularity of sustainable practices in association with green construction worldwide, manufacturers are adopting eco-friendly materials and processes for making products. Companies increasingly include automation in their manufacturing to maximize efficiency and improve quality. Automated production lines ensure that the manufacturing of sandwich panels is more accurate and uniform without creating much waste.
For instance, in June 2024, ALFAA PEB LIMITED announced the grand opening of our fully automated manufacturing plant in Raipur, Chhattisgarh. With this new addition, they claim to become the largest manufacturer of sandwich panels in India by manufacturing more sandwich panels that are more accurate and of better quality. Their expanded capacity solidifies our commitment to providing top-quality products to our customers nationwide.
New Construction to Poise Fair Share in the Market
Sandwich panels are manufactured for easy production and quick installation in new buildings, thus saving time while providing excellent insulation superior to any other traditional building system. Furthermore, the growing demand for lightweight materials and increasing concern about reducing fuel consumption and emissions from construction projects will likely drive the demand for sandwich panels over the next few years. As a result, sandwich panels are utilized in non-residential construction projects, such as industrial buildings, factories, warehouses, public buildings, and purification projects. The growing need for modern infrastructure increases the demand for more advanced sandwich panels to meet the diverse needs of customers in the market. These panels can be installed quickly and provide exceptional insulation, making them a favorite among builders and developers aiming to create effective, sustainable structures in an evolving market. The increasing public-private partnership projects, the surging government funding for the development of commercial buildings, and the rising renovation activities related to public buildings are some of the prime aspects spurring the development of new construction projects.
For instance, in May 2024, GX Group to set up a new facility will involve an expenditure of approximately USD 11.89 million for land, building, and machinery, in line with the Centre's Atmanirbhar Bharat (self-reliant India) ambition in India. This will propel the growth of the sandwich panels market in India. In December 2023, Panattoni Development Company, Inc. announced the development of a new 360,000 square feet warehouse in India. It is thus evident from the data presented above that new construction projects will continue to grow further, which will enhance the growth prospects of the sandwich panels market.
Southern India Holds a Major Share in the Overall Market
The sandwich panels market is growing significantly owing to rising demand from the construction industry in Southern India. Cities like Bengaluru, Chennai, and Mumbai are driving this demand. Additionally, the increasing construction of residential buildings contributes to the market's growth in the forecast period. Government spending on new infrastructure projects and the increase in public-private collaborations for housing positively influence the demand for the building and construction industry in Southern India, which supports the sandwich panels market.
For instance, in November 2024, Electronic components and spare parts supplier to prominent global companies AmberResojet Private Limited planned to establish manufacturing facilities in Telangana with an investment of USD 29.5 million. The company has committed to setting up state-of-the-art manufacturing plants over the next three years. The company plans to establish an advanced printed circuit board (PCB) production facility in Telangana soon. Due to this, the Southern India region is witnessing an increasing number of construction projects currently underway, contributing to the growth of the building products market.
Future Market Scenario (FY2025-FY2032F)
The Atmanirbhar Bharat Abhiyan, launched by the Government of India, is expected to stimulate the construction of new sandwich panel manufacturing plants in the country in the foreseeable future.
The growing emphasis on sustainable building and construction materials is set to significantly sandwich panel markets as environmentally conscious consumers and businesses are prioritizing eco-friendly materials and promoting energy efficiency.
Government initiatives for new residential projects, especially in western and southern regions, will boost the demand for sandwich panels, spurring market growth.
Polyurethane-based sandwich panels will experience more traction to upscale market growth in the coming years. This surge in demand can be attributed to their exceptional insulation properties, lightweight design, and versatility in various construction applications.
Key Players Landscape and Outlook
Sandwich panels have considerably more benefits than traditional materials regarding energy efficiency and reduced maintenance. Tata Steel Limited, ALFA PEB LIMITED, EPACK Polymers Private Limited, Metecno Group, and Kingspan Group dominate the market. These companies are actively leveraging their technical potential and expertise to develop a new range of products related to sandwich panels and increasing their research and development (R&D) capabilities to expand their revenue share in the global sandwich panel market. These strategies are elevating the sandwich panels market competition among the key players in India. Companies in the market have been launching innovative sandwich panel products with better quality and features to help meet the developing demands of real estate developers and contractors.
For instance, in June 2024, Kingspan Group installed JinRoc AWP panels in one of their projects; these sandwich panels not only enhance the structural integrity of the building but also significantly improve thermal efficiency, making them an ideal choice for modern construction. By leveraging advanced technology in their design and manufacturing, Kingspan ensures that these panels meet the highest quality and performance standards, contributing to sustainable building practices and reducing energy consumption in the long run.
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.