Contrasting Market Realities – The European Sandwich Panels Market experienced a year of unprecedented success in 2022, reaching historic sales peaks. However, in 2023, the market encountered a significant setback, witnessing a stark 7% decline in values according to a recent market report by Interconnection Consulting.

In 2022, the European Sandwich Panels Market reached a volume of an impressive 178.8 million square meters. Market development saw a remarkable change in quantities by 3.1% when compared to previous year. The year 2022 witnessed several impactful factors that influenced the market. The high inflation rate, the Russia-Ukraine conflict, and subsequent supply chain disruptions, coupled with fears of raw material shortages, elevated production costs, etc.
Despite these challenges, increased demand, albeit at higher prices, led to a growth in quantities in 2022. From the point of view of values, the price inputs turbulences resulted in a dramatic growth of the market by 16.9% in values, whereby the market reached its historical peak at 4.6 billion euros as the result for 2022.

Turkey’s Triumph in the European Landscape

The study emphasizes Turkey’s significant growth potential within the European market. Not only does Turkey boast the largest sales in quantities, but it also exhibits the most substantial growth potential, with a compound annual growth rate of 8.1% until 2026. Germany, the second-largest market in quantities, is anticipated to remain stagnant in sales until 2026 (-0.3% pa).
However, Germany leads in value sales in Europe, achieving 877.7 million euros in 2022.

Dominant Segments and Evolving Preferences

The study reveals that the PUR/PIR core material stands out as the dominant segment across Europe, accounting for over 75% of the market share, followed by mineral wool at around 22%. Mineral wool, known for its fire-resistant features, is the trending material in most European countries. Notably, Turkey deviates from this trend, favouring PIR core material. Steel cover material asserts dominance in all markets with over 94% market share. The analysis of insulation thickness indicates a growing preference for the > 100mm category, which experienced a substantial 6.7% growth, driven by the increasing demand for energy-efficient buildings in Europe.

Competition relationships and area covered by the analysis

The IC Market Tracking® offers deep insight into the sandwich panels market competition environment across the covered countries, which encountered many turbulences in 2022. The main players remain ArcelorMittal, Assan Panel, Brucha, Huurre Ibérica, Isolpack, Isopan, Italpannelli, Kingspan, Lattonedil, Marcegaglia, Metecno, Panelais, Romakowski, Saint-Gobain, Tata Steel and Trimo.

The study examined following countries in the European Region: Austria, Czech Republic, France, Germany, Hungary, Italy, Poland, Slovakia, Spain, Switzerland, and Turkey.
Interconnection Consulting’s report not only sheds light on the past market performance but also provides invaluable insights into the future trajectory of the European Sandwich Panels Market, enabling industry players to make informed decisions and strategies in this evolving landscape.

Link to the report

13/11/2023

Copyright: Interconnection, Publication free of charge for coverage regarding the study and InterConnection Consulting.