USD 8.2 billion
Sandwich Panels Market Size, Share, and Growth Analysis
Sandwich Panels Market By Product (Polystyrene Panels, Polyurethane Panels), By Application (Walls & Floors, Roofs), By Skin Material (Continuous Fibre Reinforced Thermoplastics (CFRT), Fibreglass Reinforced Panel (FRP)), By End-use, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20C2106 |
Region:
Global |
Published Date: January, 2025
Pages:
161
|Tables:
89
|Figures:
71
Format -
Sandwich Panels Market Insights
Sandwich Panels Market size was valued at USD 8.2 billion in 2023 and is poised to grow from USD 8.81 billion in 2024 to USD 15.72 billion by 2032, growing at a CAGR of 7.5% during the forecast period (2025-2032).
In the global sandwich panels market, one of the most important players in the commercial and construction sectors, is undergoing some very interesting trends which could turn the course of its environment. These transformations reflect the dynamic nature of the market through several reasons such as the revolving preferences of buyers, technological advancements, and environmental conditions. Most aptly, sandwich panels fit into the current trend of lightweight building material. These lightweight, strong, and incredibly durable panels are replacing traditional building materials in the commercial building sector. Constant advancements around manufacturing and building design technology are directed to the development of sandwich panels.
The new innovations in bonding techniques, core materials, and customization options give end users a wide range of choices. The adaptability of sandwich panels contributes to their appropriateness for an extensive range of specific applications across several industries, including the bloodless storage area. The industry for bloodless storage is already expecting increased demand for packages in its making as refrigeration and bloodless chain industries continue to multiply. These panels are ideal for maintaining controlled temperatures in warehouses, refrigerated cars, and other bloodless garage infrastructures due to their excellent thermal insulation properties. This particular trend is driven by the desire for cost-effective and environmentally friendly insulating solutions. One of the main factors propelling the sandwich panel market is sustainability, which has led to an increase in interest in environmentally friendly production methods and materials.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Non-residential
Fastest Growth
Residential
Growth Rate
7.5% CAGR
Global Sandwich Panels Market ($ Bn)
Country Share by North America (%)
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Sandwich Panels Market Segments Analysis
Global Sandwich Panels Market is segmented by Product, Application, Skin Material, End-use and region. Based on Product, the market is segmented into Polystyrene Panels, Polyurethane Panels, Glass Wool Panels and Others. Based on Application, the market is segmented into Walls & Floors, Roofs and Cold Storage. Based on Skin Material, the market is segmented into Continuous Fibre Reinforced Thermoplastics (CFRT), Fibreglass Reinforced Panel (FRP), Aluminum, Steel and Others. Based on End-use, the market is segmented into Residential and Non-residential. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by End User
As per categorization by end user, the market is classified as residential, and non-residential. Among these, non-residential earned the largest share and continues to hold the dominant global sandwich panels market share. The non-residential end user segment dominates the global sandwich panels market due to high demand in commercial, industrial, and institutional applications. These panels are highly favored for the glycogen construction of warehouses, factory premises; and even office walls due to superior insulation, energy efficiency, and fire resistance. Lightweight composite materials and advanced thermal performance are some innovations that add more impetus to usage. Rapid urbanization, infrastructure development, and the need for lower-cost and durable materials to sustain the possibilities in this segment are further enshrined in the market.
The residential end-user segment is poised to be the fastest-growing in the global sandwich panels market due to rising demand for energy-efficient and sustainable housing solutions. The continuous urbanization and burgeoning population are the driving factors behind the growing requirement for affordable and rapid construction methods, which sandwich panels meet with their lightweight and cost-efficient thermal insulation. Creating more attractive and customizable options has added innovations into modern housing projects. In addition, government take-offs encourage green building projects and energy efficiency for the adoption of residential construction, which is really making the sandwich panels a key element in future growth in this segment in emerging markets.
Analysis by Product Type
Polystyrene panels dominate the global sandwich panels market due to their affordability, lightweight nature, and excellent thermal insulation properties, making them ideal for diverse applications. These panels make their use in numerous cold storage facilities, warehouses, and residential buildings in terms of temperature control and energy saving. Currently, the panels have been developed for better fire resistance as well as sustainability in the environmentally friendly production process and recyclable materials. They are easy to install, have a good life span, and are moisture resistant. Therefore, they have increased popularity in residential buildings. In an era of rising cost-effective construction materials and energy-efficient construction, polystyrene panels still dominate much of the global sandwich panels market.
Polyurethane (PU) and Polyisocyanurate (PIR) panels are projected to be the fastest-growing segment in the global sandwich panels market due to their superior thermal insulation, lightweight design, and fire-resistant properties. Currently, almost all energy-efficient buildings, including cold storages, industrial set up, green buildings within, have started adopting these panels. Advances in manufacturing processes along with stricter energy standards have led to an increase in such applications. These include PIR panels, which became more popular than any other due to their higher fire safety in comparison to PU panels. It would not only be higher awareness about sustainable and energy-efficient construction solutions but also growing demand arising from use in residential and commercial applications that fuels rapid development in owing to this segment.
Global Sandwich Panels Market By End User (%)
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Sandwich Panels Market Regional Insights
North America dominates the global sandwich panels market due to its robust construction industry, stringent energy efficiency regulations, and rising demand for sustainable building materials. Due to the region's focus on advanced construction means, sandwich panels are now being used in all commercial, industrial and residential applications. The increased demand for cold storage spaces, which is anticipated to increase as a result of the booming food and beverage industry, adds to the demand. Also contributing to the use of sandwich panel systems are advances in insulation technologies and innovative fire-resistance standards that meet the safety norms of the region's standards. The high degree of urbanization and government incentives for green buildings have firmly placed North America in the first leading position in the global sandwich panels market outlook.
Europe is the fastest-growing region in the global sandwich panels market, driven by stringent environmental regulations and a strong push towards energy-efficient, sustainable construction. Due to the fact that it has focused on either carbon footprint mitigation or increased building performance, the region is now increasingly demanding advanced insulation materials, especially in the commercial, industrial and residential sectors. Above all, the contributions from the region's entrenched industry and innovation in fire resistance and eco-friendly sandwich panel technologies are growth levers. Green government incentives and growing application of cold storage solutions, especially in the food industry, are other key drivers of rapid growth of the European sandwich panels market.
Global Sandwich Panels Market By Geography
- Largest
- Fastest
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Sandwich Panels Market Dynamics
Sandwich Panels Market Drivers
Rising Demand for Energy Efficiency
- Impressive insulation properties, plus an increasing global awareness about environmental sustainability and energy conservation, are further intensifying the demand for sandwich panels, mainly used in commercial, industrial, and residential buildings due to their lesser heating and cooling costs, making them ideal for energy-efficient construction.
Growth in Construction Activities
- Increased pace of urbanization and infrastructural development in emerging economies is one of the phenomena driving the global sandwich panels market growth. As the number of commercial and residential buildings increases, the demand for cost-effective, durable, and fast-erecting building materials rises. Versatile sandwich panels are becoming increasingly popular in the highly dynamic booming sector of construction.
Sandwich Panels Market Restraints
Limited Awareness in Emerging Markets
- Emerging economies have little awareness of the benefits of sandwich panels, like energy efficiency and durability. Most people do not know much about them, thus limiting adoption, as they see conventional construction as more familiar and cheaper and do not tap into this market, thereby slowing down the growth of sandwich panels in these areas.
Vulnerability to Weather Conditions
- Sandwich panels, especially those with polystyrene cores, can be vulnerable to extreme weather conditions such as heavy rains or high humidity. Consequently, they can be found to affect the durability and performance of certain applications, thereby limiting possibilities for some specific environments. Hence, this could lead consumers to choose stronger materials when in harsh conditions.
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Sandwich Panels Market Competitive Landscape
The global sandwich panels market has become very competitive, where numerous top players are concentrating on development of innovative products, improvement of quality, and expansion of production capacities. Many of the leading companies use advanced materials and techniques of manufacturing taking advantage of the increasing demand for more energy-efficient and robust solutions. Some of the leading international companies in this market include ArcelorMittal, Kingspan Group, BASF, Nucor Corporation, and Tata Steel. Such companies have been fortifying themselves in the market by forming strategic partnerships and acquisitions while improving and/or expanding their product lines for more applications in industrial, residential, and commercial purposes.
Top Players in Sandwich Panels Market
- ArcelorMittal (Luxembourg)
- Kingspan Group (Ireland)
- BASF (Germany)
- Nucor Corporation (United States)
- Tata Steel (India)
- Metecno (Italy)
- Isopan (Italy)
- PPG Industries (United States)
- SchworerHaus (Germany)
- Sips Panels Ltd (United Kingdom)
- Uralita (Spain)
- Changzhou Jiasheng Building Materials (China)
- Jiangsu Zhongtai Steel Structure (China)
- The Manse Group (United Kingdom)
Recent Developments
- In July 2024, ArcelorMittal released a high-performance portfolio of sandwich panels aimed at improving thermal insulation and fire resistance in industrial and commercial buildings. This evolution emphasizes stricter building standards and sustainability, establishing ArcelorMittal as a frontrunner in energy-efficient and sustainable building solutions.
- In June 2024, Kingspan Group launched its new environmentally friendly sandwich panels made from recycled materials so as to offer efficient thermal insulation with minimum carbon emissions. The innovation consolidates the goals of the company in sustainability, as well as matching the upsurging market for greener solutions in buildings, being energy-efficient for both commercial and residential buildings.
- In April 2024, Tata Steel comes with an improved sandwich panel selection for corrosion resistance and better thermal performance. These panels have been created to cater to some high-demand sectors such as the cold storage and logistics industry in the design of durable and energy-efficient solutions that respond to the increasing requirement for temperature-controlled buildings.
Sandwich Panels Key Market Trends
- Increasing Demand for Energy-Efficient Building Solutions: With increasing stress on sustainability, the consumption of sandwich panels with good thermal insulation properties has gone up. Sandwich panels have enabled energy consumption to be reduced significantly in green buildings, certainly in the commercial and residential sector, with rules and regulation on energy efficiency becoming more stringent.
- Adoption of Fire-Resistant Sandwich Panels: Increasingly, with the safety concerns mounting day by day, use of fire-resistant sandwich panels in construction keeps happening. For industrial, commercial and even residential projects, these panels have become a choice as they facilitate fire safety along with thermal and acoustic insulation.
Sandwich Panels Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the rapidly evolving global sandwich panel industry evolves around innovation, sustainability and demand for energy efficiency as a solution in buildings. Technological advancements such as high-grade thermal insulation, fire resistance, eco-friendliness, etc. have contributed to the reshaping of the industry.
A large ratio of applications with non-residential purposes continues to be the more dominant. Conversely, high growth rates in residential applications have occurred due to urbanization and the provision of affordable as well as green construction. New developments continue, so further growth in the market can be expected, especially in the regions of Europe and North America, having a bright future for sandwich panels due to their application in all kinds of construction.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.2 billion |
| Market size value in 2032 | USD 15.72 billion |
| Growth Rate | 7.5% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sandwich Panels Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sandwich Panels Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sandwich Panels Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sandwich Panels Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sandwich Panels Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sandwich Panels Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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