Sandwich Panel Market Research Report Information By Type (PUR/PIR Sandwich Panels, PUR/PIR Sandwich Panels, Glass Wool, Rock Wool and Others), By Application (Residential Buildings, Commercial Buildings, Agricultural Buildings and Cold Storage), By Skin Material (Continuous Fibre Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP), Aluminum, Steel and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

Global Sandwich Panel Market Overview

Sandwich Panel Market Size was valued at USD 1.8 Billion in 2022. The sandwich panel industry is projected to grow from USD 1.95 Billion in 2023 to USD 3.861 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.85% during the forecast period (2023 - 2032). The important market drivers boosting the expansion of the worldwide sandwich panels market is the increase in infrastructure projects brought on by the rising urbanization and industrialization of both developed and emerging countries. In addition, the market is expanding due to the product's several benefits, including thermal resistance, acoustic insulation, mechanical qualities, impermeability, and fire behavior, among others.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Sandwich Panel Market Trends

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  Numerous benefits of sandwich panels is driving the market growth

  
  

The main reason propelling the sandwich panel market CAGR expansion is the numerous benefits of sandwich panels. Sandwich panels have a number of benefits that are increasing demand for them, including quick and simple installation, excellent thermal insulation, and contributions to the visual appeal of the buildings. Contrary to conventional systems, continuous-line-made sandwich panels arrive in fully compatible, ready-to-assemble components and are also prepared in the insulation types, right dimensions, and colors based on the structure of your facility. This results in a quick & simple installation process. Additionally, sandwich panels that have been thermally insulated ensure that your building will be strong and long-lasting by avoiding problems like mold and humidity brought on by heat movements and condensation. Sandwich panel insulation thickness varies according to the building's capacity to sustain its weight, the local temperature, its intended use, and the thermal insulation value. Because sandwich panels may also be used in internal areas, they provide buildings with an aesthetically pleasing appearance and allow end users to create a wide range of designs. During the projected period, the market for sandwich panels is anticipated to increase as a result of these factors.

Furthermore, the key trend in the growth of the sandwich panel market is an increase in demand for sandwich panels in cold storage. Given that demand has been rising continuously over the past few years, sandwich panels are becoming a more and more common choice for refrigeration applications. This is primarily because solar panels are a great option for operators of cold storage facilities due to their many benefits. Sandwich panels' exceptional insulating capacity is one of the key factors influencing the demand for them in the refrigeration industry. A sandwich panel has insulation sandwiched between two exterior metal layers or another material. This design maintains a constant interior temperature by reducing heat movement between the inside and exterior of the device. This is crucial for refrigerated warehouses, where products must be stored at particular temperatures to keep them fresh and retain their quality.

Moreover, sandwich panels may be quickly and easily installed, which contributes to their rising popularity in cold storage. The facility's particular dimensions can be used to cut the panels, and they can be quickly placed with little impact on current activities. This may be particularly useful for facilities that must swiftly begin operations or are undergoing repairs or expansions. Additionally, sandwich panels have a beautiful appearance that might improve the facility's overall appeal. As a result, the above factors are anticipated to expand the worldwide sandwich panels market. Thus, driving the sandwich panel market revenue.

Sandwich Panel Market Segment Insights

Sandwich Panel Type Insights

The sandwich panel market segmentation, based on type includes PUR/PIR Sandwich Panels, PUR/PIR Sandwich Panels, Glass Wool, Rock Wool and Others. The glass wool segment dominated the market. In sandwich panels, glass wool is a common insulation material used globally. Sandwich panels are composite constructions made of a core material that provides stiffness and insulation, two thin, robust facing sheets, and other components. In addition to refrigeration and refrigeration applications, these sandwich panels are frequently utilized in residential, commercial, and industrial building construction. Sandwich panels made from glass wool are well known for their superior insulating qualities and low thermal conductivity materials that prevent heat loss and increase energy efficiency, making them perfect for usage in structures in colder climates.

Sandwich Panel Application Insights

The sandwich panel market segmentation, based on application, includes Residential Buildings, Commercial Buildings, Agricultural Buildings and Cold Storage. The residential buildings category generated the most income. Due to their ease of use, steel sandwich panels such as polyurethane, glass wool, power factor, and mineral wool are frequently used for various applications, including building wall and roof insulation, interior and exterior decoration, sound-heat insulation, and others. The worldwide surge in residential buildings is driving demand for steel sandwich panels.

Figure 1: Sandwich Panel Market, by Application, 2022 & 2032 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Sandwich Panel Skin Material Insights

The sandwich panel market segmentation, based on skin material, includes Continuous Fibre Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP), Aluminum, Steel and Others. The aluminum category generated the most income. The most common skin material for sandwich panels is aluminum. Aluminium is a thin, lightweight metal that lends these panels flexibility and ease of formability.

Sandwich Panel Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American sandwich panel market area will dominate this market. This region is unquestionably a leader due to the higher prevalence of various manufacturing companies and the significant demand for contemporary construction materials. These panels are in high demand due to the industrial sector's increased need for energy-efficient building materials as well as the expansion of retail chains. A stronger government emphasis on creating cold chains and warehouses will also fuel industry expansion in this area.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: SANDWICH PANEL MARKET SHARE BY REGION 2022 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe sandwich panel market accounts for the second-largest market share. due to the increased investment in building development, maintenance, and repair in the area. The market for sandwich panels is primarily being driven by the rising demand for energy-efficient building materials and the increased emphasis on sustainable building techniques. Additionally, this is because customers' changing lifestyles and rising disposable income in the area have increased demand for homes and businesses, increasing demand for sandwich panels. Further, the German sandwich panel market held the largest market share, and the UK sandwich panel market was the fastest growing market in the European region

The Asia-Pacific Sandwich panel Market is expected to grow at the fastest CAGR from 2023 to 2032 due to its burgeoning construction industry, fast industrialization, and urbanization. The need for sandwich panels is driven by infrastructure development and construction activity in the region's many growing economies, including China, India, and Southeast Asian nations. The dominance of the Asia Pacific market is mostly attributed to the expansion of commercial and residential development projects and rising investments in sectors like automotive, electronics, and logistics. Moreover, China’s sandwich panel market held the largest market share, and the Indian sandwich panel market was the fastest-growing market in the Asia-Pacific region.

Sandwich Panel Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the sandwich panel market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, sandwich panel industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the sandwich panel industry to benefit clients and increase the market sector. In recent years, the sandwich panel industry has offered some of the most significant advantages to market. Major players in the sandwich panel market attempting to increase market demand by investing in research and development operations 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).

Steel and steel-related goods are offered by Nucor Corp. It provides raw materials, fasteners, alloy steel, carbon steel, and other steel-related products. In addition, it produces roof decks, cold-finished steel bars, wire, wire mesh, completed hex nuts, coiled rebar, sheets, plates, pipes, and tubes. Along with processing ferrous and nonferrous metals, pig iron, and hot briquetted iron, it also creates direct reduction iron that may be used in steel mills. The business and its subsidiaries run several facilities throughout the US, Canada, and Mexico. In June 2021, the insulated metal panels (IMP) business of Cornerstone Building Brands, which includes wall and roof panel solutions made of an energy-efficient foam core sandwiched between two layers of steel or aluminum and offered in a range of widths, thicknesses and exterior finishes, has been acquired by Nucor Corporation through the signing of a definitive purchase agreement.

A company that manufactures building materials is Kingspan Group Plc (Kingspan). It creates, produces, and sells energy storage products. Among the many goods the company offers, rigid insulation boards, steel frames, insulated facade systems, roofs, access floors, walls, insulated panels, and off-site wood frame solutions. Raised access floors, environmentally friendly and renewable fuel and water storage options, and hot water systems are all provided by Kingspan. Additionally, it provides both the public and private sectors with low- and zero-carbon solutions. It provides systems for insulated and airtight building fabrics.

Key Companies in the sandwich panel market include

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  DANA Group of Companies (UAE)

  
  


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  INVESPANEL SL (Spain)

  
  


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  Kingspan Group (Ireland)

  
  


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  Building Component Solutions LLC (Saudi Arabia)

  
  


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  Nucor Corporation (U.S.)

  
  


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  Assan Panel A.S. (Turkey)

  
  


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  Hoesch Siegerlandwerke GmbH (Germany)

  
  


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  ArcelorMittal S.A. (U.S.)

  
  


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  MANNI Group (Italy)

  
  


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  Zhong Jie Group (China)

  
  


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  Romakowski GmbH & Co. KG (Germany)

  
  


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  Tata Steel Limited (India)

  
  


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  NCI Building Systems Inc. (U.S.)

  
  


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  Multicolor Steels India Pvt Ltd. (India)

  
  


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  Sintex (India)

  
  

Sandwich Panel Industry Developments

October 2022: Invespane, a manufacturer of sandwich panels based on mineral wool, was purchased by Kingspan. It will be possible to complement Kingspan's sandwich panel product options for various applications thanks to the strategic purchase of Invespanel.

November 2021: Kingspan Insulated Panels made ICON (Industrial Engineering Company for Construction and Development) an offer to work together on producing sandwich panels.

September 2021: New FST interior edge and core filler compound from L&L Products was introduced. By offering a remedy to enhance the conventional manual procedure of other two-component honeycomb panel reinforcements, L&L strengthen L-9060 offers a novel method to fill and strengthen aerospace interior sandwich panels.

Sandwich Panel Market Segmentation

Sandwich Panel Type Outlook (USD Billion, 2018-2032)

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  PUR/PIR Sandwich Panels

  
  


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  PUR/PIR Sandwich Panels

  
  


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  Glass Wool

  
  


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  Rock Wool

  
  


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  Others

  
  

Sandwich Panel Application Outlook (USD Billion, 2018-2032)

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  Residential Buildings

  
  


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  Commercial Buildings

  
  


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  Agricultural Buildings

  
  


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  Cold Storage

  
  

Sandwich Panel Skin Material Outlook (USD Billion, 2018-2032)

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  Continuous Fibre Reinforced Thermoplastics (CFRT)

  
  


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  FIBREGLASS REINFORCED PANEL (FRP)

  
  


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  Aluminum

  
  


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  Steel

  
  


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  Others

  
  

Sandwich Panel Regional Outlook (USD Billion, 2018-2032)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • 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