Steel Sandwich Panels Market Size, Share, Growth Analysis, By Skin Material(Continuous Fibre Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP)), By Application(Residential Buildings, Commercial Buildings), By Type(PUR/PIR Sandwich Panels, PUR/PIR Sandwich Panels) - Industry Forecast 2024-2031

Steel Sandwich Panels Market size was valued at USD 1.8 Billion in 2022 and is poised to grow from USD 1.95 Billion in 2023 to USD 3.86 Billion by 2031, growing at a CAGR of 8.85% in the forecast period (2024-2031).

Sandwich panels with steel sheathed outer and inner parts, with thermal insulation, are widely accepted in the construction industry. Sandwich panels are multi-layered structures with different mechanical properties for each layer. Increased awareness on energy efficient buildings, improved thermal performance of sandwich panels, implementation of stringent regulations towards energy conservation drives the global steel sandwich panel market to grow but strategies costly implementation increases the cost of production, volatility in raw material prices hinders the resulting market growth.

The construction industry plays an important role in the demand for steel sandwich panels. These tiles are widely used in commercial, industrial and residential projects due to their light weight, durability, insulation properties and ease of installation. Advances in construction in emerging countries are increasing the demand for steel sandwich panels for roofing, wall covering and insulation applications. Strict energy efficiency regulations and global sustainability programs contribute to the demand for steel sandwich panels. These trees reduce heating and cooling costs in buildings. Governments and regulatory agencies encourage the adoption of energy-efficient building materials through incentives, tax breaks and building codes, which enhance market growth. These panels are used for structural support, thermal insulation and weather resistance in the construction of industrial buildings, warehouses, cold storage units and infrastructure projects.