Sandwich Panel Market Overview

The Sandwich Panel Market, which was valued at USD 2.4 Billion in 2022, is poised for significant growth. Projections indicate that the industry will expand from USD 2.23 Billion in 2023 to reach a substantial figure of USD 4.02 Billion by 2029, representing a robust compound annual growth rate (CAGR) of 9.11% during the forecast period spanning from 2023 to 2029.

Several key factors are driving the expansion of the global sandwich panels market. Chief among these is the surge in infrastructure projects, a result of the increasing levels of urbanization and industrialization observed in both developed and emerging nations. Furthermore, the market is experiencing growth due to the manifold advantages offered by sandwich panels, including exceptional thermal resistance, effective acoustic insulation, impressive mechanical properties, impermeability, and excellent fire resistance, among other notable features.

Sandwich Panel Market Trends

The sandwich panel market is experiencing significant growth driven by a multitude of advantages offered by these panels. The primary factor fueling the Compound Annual Growth Rate (CAGR) expansion in the sandwich panel market is their numerous benefits. Sandwich panels are increasingly in demand due to their quick and straightforward installation process, exceptional thermal insulation properties, and their ability to enhance the aesthetics of buildings. Unlike traditional systems, sandwich panels are manufactured in continuous lines, arriving as fully compatible, ready-to-assemble components. They come in various insulation types, dimensions, and colors tailored to your facility's specific needs, resulting in a streamlined and effortless installation process.

Furthermore, thermally insulated sandwich panels ensure the durability of buildings by preventing issues like mold and humidity caused by temperature fluctuations and condensation. The thickness of the insulation in sandwich panels varies depending on factors such as the building's load-bearing capacity, local climate conditions, intended use, and desired thermal insulation value. These panels can also be used in interior spaces, adding to the overall aesthetics of buildings and offering versatility in design. These factors are expected to drive the sandwich panel market's growth during the projected period.

Another noteworthy trend in the sandwich panel market is the increasing demand for sandwich panels in cold storage applications. Over recent years, the demand for sandwich panels in refrigeration has been steadily rising. Solar panels, owing to their numerous benefits, have become a popular choice for cold storage facility operators. The exceptional insulating properties of sandwich panels play a pivotal role in driving their demand in the refrigeration sector. These panels consist of insulation material sandwiched between two exterior metal layers or other materials, maintaining a consistent interior temperature by minimizing heat transfer between the inside and outside of the structure. This is crucial for refrigerated warehouses where precise temperature control is essential for preserving product freshness and quality.

Additionally, the ease of installation of sandwich panels contributes to their growing popularity in cold storage facilities. These panels can be custom-cut to fit the facility's specific dimensions and quickly installed with minimal disruption to ongoing operations. Moreover, sandwich panels' visually pleasing appearance can enhance the overall appeal of the facility. These factors collectively contribute to the expansion of the global sandwich panel market, driving its revenue growth.

Sandwich Panel Market Segment Insights

Sandwich Panel Type Insights

The sandwich panel market is segmented by type, including PUR/PIR Sandwich Panels, Glass Wool, Rock Wool, and Others. The glass wool segment currently dominates the market. Glass wool is a widely used insulation material in sandwich panels globally. These panels, consisting of a core material for stiffness and insulation, two robust facing sheets, and other components, find applications not only in refrigeration but also in residential, commercial, and industrial construction. Sandwich panels utilizing glass wool are renowned for their superior insulation properties and low thermal conductivity materials, effectively preventing heat loss and increasing energy efficiency. This makes them ideal for structures in colder climates.

Sandwich Panel Application Insights

The sandwich panel market is segmented by application, encompassing Residential Buildings, Commercial Buildings, Agricultural Buildings, and Cold Storage. The residential buildings category accounts for the highest revenue generation. Steel sandwich panels, including polyurethane, glass wool, power factor, and mineral wool, are commonly used in various applications, such as building wall and roof insulation, interior and exterior decoration, and sound-heat insulation. The global surge in residential construction projects is a key driver of the demand for steel sandwich panels in this category.

Insights on Sandwich Panel Skin Materials

The segmentation of the sandwich panel market, based on skin materials, encompasses several key categories: Continuous Fibre Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP), Aluminum, Steel, and other materials. Among these, the aluminum category has emerged as the highest revenue generator. Notably, aluminum stands as the predominant choice for the skin material in sandwich panels. This preference is largely attributed to the inherent qualities of aluminum – it is a thin, lightweight metal that imbues these panels with remarkable flexibility and ease of formability.

Regional Insights into Sandwich Panels

In terms of geographical distribution, the study offers valuable market insights across North America, Europe, Asia-Pacific, and the Rest of the World. Within this landscape, the North American sandwich panel market exerts substantial dominance. This region takes the lead due to a confluence of factors, including a higher concentration of diverse manufacturing companies and a substantial demand for cutting-edge construction materials. The surging popularity of these panels can be attributed to the industrial sector's growing requirement for energy-efficient building materials and the expanding footprint of retail chains. Additionally, a robust government focus on developing cold chains and warehouses further propels industry expansion in the North American region.

Furthermore, the market report delves into the dynamics of major countries, including the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

The European sandwich panel market holds the second-largest market share, primarily driven by increased investments in building development, maintenance, and repair in the region. The demand for sandwich panels is rising due to the growing need for energy-efficient building materials and sustainable construction practices, aligning with changing customer lifestyles and increased disposable income. Notably, the German sandwich panel market leads in market share, while the UK market shows the fastest growth in Europe.

In contrast, the Asia-Pacific sandwich panel market is expected to experience the fastest Compound Annual Growth Rate (CAGR) from 2023 to 2029. This growth is attributed to the flourishing construction industry, rapid industrialization, and urbanization in the region. The demand for sandwich panels is propelled by infrastructure development in emerging economies like China, India, and Southeast Asian nations. China's sandwich panel market dominates the Asia-Pacific region, with the Indian market demonstrating the highest growth rate.

Key players in the sandwich panel industry are actively investing in research and development to expand their product offerings, enhancing the market's growth potential. Market participants are also engaged in strategic activities, including product launches, contractual agreements, mergers and acquisitions, increased investments, and collaborations. To thrive in a competitive market environment, the sandwich panel industry must offer cost-effective solutions.

Manufacturers in the sandwich panel industry adopt strategies such as local manufacturing to reduce operational costs, benefiting customers and expanding their market share. In recent years, the industry has witnessed significant advancements, with major players investing in research and development. Some prominent companies in the market include DANA Group of Companies (UAE), INVESPANEL SL (Spain), Kingspan Group (Ireland), Building Component Solutions LLC (Saudi Arabia), Nucor Corporation (U.S.), Assan Panel A.S. (Turkey), Hoesch Siegerlandwerke GmbH (Germany), ArcelorMittal S.A. (U.S.), MANNI Group (Italy), Zhong Jie Group (China), Romakowski GmbH & Co. KG (Germany), Tata Steel Limited (India), NCI Building Systems Inc. (U.S.), Multicolor Steels India Pvt Ltd. (India), and Sintex (India).

Nucor Corporation is a notable player in the industry, specializing in steel and steel-related products. It offers a wide range of raw materials, fasteners, alloy steel, carbon steel, and other steel-related items. Additionally, Nucor produces various steel products, including roof decks, cold-finished steel bars, wire, wire mesh, rebar, sheets, plates, pipes, and tubes. The company also manufactures direct reduction iron for use in steel mills. Nucor operates numerous facilities across the United States, Canada, and Mexico. In June 2021, Nucor Corporation acquired the insulated metal panels (IMP) business of Cornerstone Building Brands, which includes energy-efficient foam core panels with steel or aluminum layers, offering various widths, thicknesses, and exterior finishes.

Kingspan Group Plc is another prominent manufacturer in the industry, specializing in building materials and energy storage products. The company offers a diverse range of products, including rigid insulation boards, steel frames, insulated facade systems, roofs, access floors, walls, insulated panels, and off-site wood frame solutions. Kingspan also provides environmentally friendly fuel and water storage solutions, hot water systems, and low- and zero-carbon solutions for both public and private sectors. They focus on creating insulated and airtight building fabrics.

Notable Developments in the Sandwich Panel Industry:

1. In October 2022, Kingspan acquired Invespanel, a manufacturer of sandwich panels based on mineral wool. This strategic purchase enhances Kingspan's product offerings for various applications.


2. In November 2021, Kingspan Insulated Panels offered to collaborate with ICON (Industrial Engineering Company for Construction and Development) on producing sandwich panels.


3. In September 2021, L&L Products introduced a new FST interior edge and core filler compound, L-9060, to enhance aerospace interior sandwich panels, providing an innovative solution to improve the traditional manual process of two-component honeycomb panel reinforcements.

Sandwich Panel Market Segmentation:

Sandwich Panel Type Outlook (USD Billion, 2023-2029)

• PUR/PIR Sandwich Panels


• Glass Wool


• Rock Wool


• Others

Sandwich Panel Application Outlook (USD Billion, 2023-2029)

• Residential Buildings


• Commercial Buildings


• Agricultural Buildings


• Cold Storage

Sandwich Panel Skin Material Outlook (USD Billion, 2023-2029)

• Continuous Fibre Reinforced Thermoplastics (CFRT)


• FIBREGLASS REINFORCED PANEL (FRP)


• Aluminum


• Steel


• Others

Sandwich Panel Regional Outlook (USD Billion, 2023-2029)

• North America




• US


• Canada




• Europe




• Germany


• France


• UK


• Italy


• Spain


• Rest of Europe




• Asia-Pacific




• China


• Japan


• India


• Australia


• South Korea


• Rest of Asia-Pacific




• Middle East & Africa




• Saudi Arabia


• UAE


• South Africa


• Rest of Middle East & Africa




• South America




• Brazil


• Argentina


• Rest of South America

Report Scope:

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