Sandwich Panels Market Size (2024 - 2029)

The sandwich panel market is projected to experience substantial growth, driven by increasing demand from cold storage facilities and the use of PVDF-based aluminum composite panels. Despite challenges such as low fire performance in some panels, the market is recovering from pandemic-related setbacks and expanding, particularly due to the construction of industrial and commercial buildings. The Asia-Pacific region is expected to lead in market consumption, with significant contributions from countries like China, Japan, and India.

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Market Size of Sandwich Panels Industry

Sandwich Panels Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Sandwich Panels Market Major Players

*Disclaimer: Major Players sorted in no particular order

Sandwich Panel Market Analysis

The sandwich panel market is anticipated to register a CAGR higher than 6% during the forecast period.

The market was negatively impacted due to the COVID-19 pandemic. Owing to the pandemic scenario, several countries around the world went into lockdown. Construction works were halted temporarily due to supply chain disruptions, lack of funds, labor shortages, and lockdown restrictions. The sandwich panels market recovered from the pandemic and is growing significantly.

  • Over the short term, the rising demand for these panels from cold storage facilities is expected to drive the market. Moreover, the usage of PVDF-based aluminum composite panels is also expected to contribute to the market demand.
  • However, the low fire performance of some sandwich panels is expected to restrain the market.
  • Nevertheless, increasing the construction of industrial and commercial buildings is a significant growth opportunity for the sandwich panels market over the forecast period.
  • Asia-Pacific region is expected to dominate the market with enormous consumption from countries such as China, Japan, and India.

Sandwich Panel Industry Segmentation

A sandwich panel consists of a core/insulating material of low density sandwiched between two layers of metal bonded under pressure. The sandwich panels market is segmented by core material, skin material, application, end-use sector, and geography. By core material, the market is segmented into polyurethane, polyisocyanurate, mineral wool, expanded polystyrene, and other core materials. The market is segmented by skin material: continuous fiber-reinforced thermoplastics, fiberglass-reinforced panels, aluminum, steel, and other skin materials. By application, the market is segmented into wall panels, roof panels, insulated panels, and other applications. The end-use sector segments the market into residential, commercial, industrial, institutional, and infrastructure. The report also covers the market size and forecasts for the structural insulated panels market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million).

Core Material
Polyurethane (PUR)
Polyisocyanurate (PIR)
Mineral Wool
Expanded Polystyrene (EPS)
Other Core Materials
Skin Material
Continuous Fiber Reinforced Thermoplastics (CFRT)
Fiberglass Reinforced Panel (FRP)
Aluminum
Steel
Other Skin Materials
Application
Wall Panels
Roof Panels
Insulated Panels
Other Applications
End-use Sector
Residential
Commercial
Industrial
Institutional and Infrastructure
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
United Arab Emirates
Qatar
South Africa
Rest of Middle-East and Africa
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Sandwich Panels Market Size Summary

The sandwich panel market is poised for significant growth, driven by increasing demand from various sectors, particularly cold storage facilities and industrial construction. The market experienced a downturn due to the COVID-19 pandemic, which caused disruptions in supply chains and halted construction activities. However, it has since rebounded and is expected to continue expanding. The use of PVDF-based aluminum composite panels is anticipated to further boost market demand. Despite challenges such as the low fire performance of some panels, the construction of industrial and commercial buildings presents a substantial opportunity for market growth. The Asia-Pacific region, with countries like China, Japan, and India, is expected to lead the market due to its robust construction activities and rising demand for cold storage solutions.

In the context of modern construction, sandwich panels are valued for their high performance, offering strength, lightweight, and durability for various applications, including insulated roof and wall panels. The increasing need for cold storage to extend the shelf life of perishable goods and the expansion of retail food chains are key factors driving demand. The global cold chain logistics market's growth, particularly in Asia-Pacific and Europe, further supports the sandwich panel market's expansion. In China, the construction sector's significant contribution to the GDP and the demand for residential accommodation drive the need for sandwich panels. Similarly, India's investment in upgrading cold storage facilities and Japan's infrastructure investments contribute to the market's growth. The market is fragmented, with key players like ArcelorMittal, ITALPANNELLI SRL, Rautaruukki Corporation, Tata Steel, and Kingspan Group actively participating in strategic acquisitions and collaborations to enhance their product offerings.

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Sandwich Panels Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Cold Storage Applications of Structural Insulated Panels

      2. 1.1.2 Increasing Demand for PVDF-based Aluminum Composite Panels

    2. 1.2 Restraints

      1. 1.2.1 Fire Performance of Some Sandwich Panels

      2. 1.2.2 Oriented Stranded Board (OSB) Emissions of Volatile Organic Compounds (VOCs)

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size by Value)

    1. 2.1 Core Material

      1. 2.1.1 Polyurethane (PUR)

      2. 2.1.2 Polyisocyanurate (PIR)

      3. 2.1.3 Mineral Wool

      4. 2.1.4 Expanded Polystyrene (EPS)

      5. 2.1.5 Other Core Materials

    2. 2.2 Skin Material

      1. 2.2.1 Continuous Fiber Reinforced Thermoplastics (CFRT)

      2. 2.2.2 Fiberglass Reinforced Panel (FRP)

      3. 2.2.3 Aluminum

      4. 2.2.4 Steel

      5. 2.2.5 Other Skin Materials

    3. 2.3 Application

      1. 2.3.1 Wall Panels

      2. 2.3.2 Roof Panels

      3. 2.3.3 Insulated Panels

      4. 2.3.4 Other Applications

    4. 2.4 End-use Sector

      1. 2.4.1 Residential

      2. 2.4.2 Commercial

      3. 2.4.3 Industrial

      4. 2.4.4 Institutional and Infrastructure

    5. 2.5 Geography

      1. 2.5.1 Asia-Pacific

        1. 2.5.1.1 China

        2. 2.5.1.2 India

        3. 2.5.1.3 Japan

        4. 2.5.1.4 South Korea

        5. 2.5.1.5 Rest of Asia-Pacific

      2. 2.5.2 North America

        1. 2.5.2.1 United States

        2. 2.5.2.2 Canada

        3. 2.5.2.3 Mexico

      3. 2.5.3 Europe

        1. 2.5.3.1 Germany

        2. 2.5.3.2 United Kingdom

        3. 2.5.3.3 Italy

        4. 2.5.3.4 France

        5. 2.5.3.5 Rest of Europe

      4. 2.5.4 South America

        1. 2.5.4.1 Brazil

        2. 2.5.4.2 Argentina

        3. 2.5.4.3 Rest of South America

      5. 2.5.5 Middle-East and Africa

        1. 2.5.5.1 Saudi Arabia

        2. 2.5.5.2 United Arab Emirates

        3. 2.5.5.3 Qatar

        4. 2.5.5.4 South Africa

        5. 2.5.5.5 Rest of Middle-East and Africa

Sandwich Panels Market Size FAQs

The Sandwich Panels Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Tata Steel, Rautaruukki Corporation, ArcelorMittal, ITALPANNELLI SRL and ArcelorMittal are the major companies operating in the Sandwich Panels Market.

Sandwich Panel Market Report Snapshots

Sandwich Panel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)