• Blog
  • Composite Sandwich Panels Market Report

    Composite Sandwich Panels Market Report

    Composite Sandwich Panels Market Report
    Report code - SRAM320 Published On : Jul,2021 No. of Pages: 193
    Get Free Sample |
    Play Audio
    Listen
    Composite Sandwich Panel Market Size, Share, Trend, Forecast, Competitive Analysis, and Gr See more...

    Impact of COVID-19 on Composite Sandwich Panels Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on Composite Sandwich Panels Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Sandwich composite panel is a structure that is made up of two thin laminate outer skins bonded to a lightweight thick core structure. These panels are majorly used in applications where a combination of high structural rigidity and low weight is required. Carbon fiber and glass fiber prepregs are commonly used as skin materials, whereas foam, aluminum honeycomb, nomex honeycomb, and balsa are commonly used core materials. The lightweight core resists the shear forces and provides insulation, whereas the two face skins provide durability, weather, and impact resistance, and resist in-plane forces of tension and compression.

    Composite sandwich panels are widely used in the aircraft industry in galleys, floors, interior panels, sidewalls, partitions, control surfaces, and overhead stowage bins. These panels are also successful in finding applications in other markets including building & construction, mass transportation, and marine. Floors, sidewalls, and other interior panels are the major applications in trains, whereas external cladding, access loads, insulated thermal envelops, ceiling panels, wall partitions, and fire-resisting compartment walls are in the building & construction industry. Interior bulkheads, decking, covers, and cabinetry are in powerboats and yachts.

    The outbreak of COVID-19 has severely impacted all industries across the world. The aerospace & defense industry is projected to be among one of the worst-affected industries due to the pandemic. The aerospace industry was already enduring a great loss due to the grounding of Boeing’s B737 MAX, whose impact was quite visible on the demand for composite sandwich panels in 2019. The outbreak of the pandemic resulted in a significant reduction in passenger traffic with a huge plunge in revenue of airlines, aircraft OEMs, and tier players. Marine (recreational boats and yachts) and building & construction are the other two major markets that are also recording a plunge in demand in 2020.

    Composite sandwich panel is uniquely positioned in the domain of composites and had been witnessing excellent growth over the past decade. The composite sandwich panels market could not escape from such changing market dynamics and experienced a hefty decline in 2020, taking the market much below its 2014-level. The demand for composite sandwich panels is anticipated to grow from 2021 onwards, followed by a quick rebound from 2022 onwards, ultimately driving the market to reach US$ 2.6 billion in 2026.

    Composite-Sandwich-Panel-Market-Forecast

    Wish to get a free sample? Register Here

    Several factors are expected to invigorate the demand for composite sandwich panels in the coming years some of which are increasing commercial aircraft fleet size, expected increase in commercial aircraft production, increasing demand for advanced interiors with an aim to provide a uniform feel across the fleet, rising demand for metro cars and high-speed trains, and increasing demand for energy-efficient buildings. In its 2020-2039 outlook, Boeing anticipated the total new aircraft deliveries to be 43,110 aircraft units during 2020-2039. Similarly, Airbus anticipated more than 40,000 aircraft deliveries during the same period, asserting a positive market outlook in the long run. Also, both companies, despite recent order cancellations, still holds huge aircraft order backlogs, representing more than 7 years of continuous production at current rates.

    Segment Analysis

    Composite Sandwich Panel Market Share by Product Type

    Based on the product type, the composite sandwich panel market is segmented as glass fiber composites and carbon fiber composites. Glass fiber composites are used in the majority of the applications including aircraft interiors, rail car interiors, decks and hulls of boats, etc. Carbon fiber composite panel is anticipated to be the faster-growing segment, owing to the expected rise in aircraft production and rising fleet size.

    Composite Sandwich Panel Market Share by Application Type

    The market is segmented as aerospace & defense, building & construction, transportation, marine, and others based on the application type. Aerospace & defense is expected to remain the largest segment of the market during the forecast period. Composite sandwich panels have a majority of their utilization in making interiors of aircraft namely galleys, lavatories, floors, ceiling panels, and other interior structures. Not only aerospace & defense is the largest segment but it is also the fastest-growing segment in the coming years. Transportation, another major segment, is subjected to grow at a healthy pace in the coming five years.

    Composite-Sandwich-Panel-Market-by-Application

    Get the full scope of the report. Register Here

    Regional Analysis

    North America is expected to remain the largest market for composite sandwich panels during the forecast period in terms of regions. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the panel suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

    Composite-Sandwich-Panel-Market-By-Region

    Know which region offers best growth opportunities. Register Here

    Asia-Pacific is likely to recoup at the fastest rate, witnessing the highest growth during the same period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for multiple aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous aircraft, C919.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2015-20266

    Size in 2026

    US$ 2.6 billion

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, The UK, Japan, China, Australia, Latin America, The Middle East and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The composite sandwich panel market is segmented into the following categories. 

    Composite Sandwich Panel Market, by Product Type

    • Glass Fiber Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Carbon Fiber Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composite Sandwich Panel Market, by Application Type

    • Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Composite Sandwich Panel Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, Australia, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)

    Key Players

    The market for composite sandwich panels is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position and to tap growing opportunities in this briskly expanding market. For instance, the acquisition of Zodiac Aerospace by Safran led the company to enter the aircraft interiors market including composite sandwich panels. After the acquisition, Safran successfully leaped ahead in the market with the added capabilities and expansion of its product portfolio.

    The supply chain of this market comprises several nodes including raw material suppliers, panel manufacturers, structure assemblers, aircraft and engine OEMs, airlines, aircraft leasing companies, and MRO companies. The following are the key players in the Composite Sandwich Panel market.

    • Safran SA
    • Collins Aerospace
    • The Gill Corporation
    • Jamco Corporation
    • Triumph Group
    • Euro Composites S.A
    • Plascore, Inc.
    • Diehl Group
    • Hexcel Corporation
    • Yokohama Aerospace America, Inc.

    The development of sandwich panels for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Composite Sandwich Panel market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our aerospace hoses and tube assemblies market report from the industry stakeholders, we have tried to further accentuate our research scope to the Composite Sandwich Panel market in order to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants and investors in the identification of the low-hanging fruits available in the market and formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

    Frequently Asked Questions

    The composite sandwich panels market size is expected to grow at a healthy CAGR in the next five years to reach US$ 2.6 Billion in 2026.

    Safran SA, Collins Aerospace, The Gill Corporation, Jamco Corporation, Triumph Group, Euro Composites S.A, Plascore, Inc., Diehl Group, Hexcel Corporation, Yokohama Aerospace America, Inc. are the leading players in the Composite Sandwich Panel market.

    North America is estimated to remain dominant in the composite sandwich panel market in the foreseen future.

    Aerospace & defence is expected to remain dominant end-use industry in the composite sandwich panels market in the coming five years.

    •