The Mineral Wool Steel Sandwich Panel Market Size was valued at USD 1,096.7 million in 2023. The Mineral Wool Steel Sandwich Panel industry is projected to grow from USD 1,181.9 million in 2024 to USD 2,098.2 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.44% during the forecast period (2024 - 2032).
Mineral wool is the core substance for wall and roof sandwich panels. It is made of two steel sheet metallic facings and a construction-insulation core layer. The inner core layer consists of mineral wool with a density of 120 kg/ m3. The components of any sandwich panel, a low-density core, and the two thin outer layers form a composite. Such panels can be fixed to different kinds of structures within the whole panel with specialized screws.
Such panels are used in applications requiring high structural rigidity to ensure strength and fire resistance. The combination of the characteristics of the components results in better performance in various applications.
Opportunities for Global Mineral Wool Steel Sandwich Panel Market:
Developing countries play an important role in the growth of the global mineral wool steel sandwich panel market as the construction industry significantly contributes to their emerging economies. The rapid growth of the emerging economies is anticipated in the countries such as China, India, Mexico, and the UAE. The construction industry in these countries is expected to witness a high growth rate owing to the availability of barren lands, which could be transformed into commercial complexes, educational institutes, military, and industrial structures.
Market Dynamics:
As international trade continues to expand, drugs, chemicals, and other perishable items are rapidly traded and transported around the world, leading to the demand for cold chain logistics, which supports the huge global trade. The rise in activities is expected to create demand for cold storage warehouses. Mineral wool steel sandwich panels are mostly used for constructing the walls, ceilings, and roofs for freezers and coolers in cold storage warehouses. They are also perfect for dry and as well wet goods warehouses and temperature-controlled buildings.
With countries such as India and China looking to strengthen their infrastructure, government aids and subsidies in such countries are aimed at attracting significant investments in the construction industry. Sustainable construction techniques have been adopted in Asia-Pacific, mainly due to the increasing need for new housing facilities to meet the demand for quick construction from the growing population. Thus, the rapidly growing population and increasing housing construction projects are expected to lead to an increase in the demand for sandwich panels in such countries
Raw materials used for the manufacturing of steel sandwich panels are categorized as metals such as stainless steel and insulation material including mineral wool and other materials. Such materials are subject to volatility as per the macro or microeconomic trends. The fluctuating costs of the raw materials can hamper the growth of the mineral wool steel sandwich panel market. This is attributed to the need the assemble these materials to manufacture sandwich panels as per the customer demand. Metals are the most volatile commodities and any change in their price can influence the overall manufacturing cost.
Value Chain Analysis
The market for Mineral Wool Steel Sandwich Panel is expanding, and it is likely to grow considerably in the near future. The mineral wool steel sandwich panel markets value chain comprises four-level raw material suppliers, product manufacturing and assembly, distribution, and end-use application.
Segment Overview
The Global Mineral Wool Steel Sandwich Panel Market has been segmented on the basis of surface finish type, application, end-user, and region.
The global Mineral Wool Steel Sandwich Panel Market on the basis of surface type has been segmented into Plain and Corrugated. The plain surface finish type segment accounted for the largest market share in 2018 and it is estimated to register a CAGR of 5.3% during the review period.
The global Mineral Wool Steel Sandwich Panel Market on the basis of application has been segmented into wall panels, roof panels, insulated panels, and others.
The global Mineral Wool Steel Sandwich Panel Market on the basis of end-users has been segmented into residential buildings, commercial buildings, and industrial.
Regional Analysis
The Global Mineral Wool Steel Sandwich Panel Market has been studied across Asia-Pacific, North America, Europe, Middle East & Africa, and South America.
Europe accounted for the largest market share of 43.2% in 2018, due to the increasing number of projects for upgrading the existing infrastructure, rising environmental concerns, and the growing interest in cost-effective construction are factors that are driving the growth of the market in the region.
The factors contributing to the market growth in North America include increased demand for sustainable building materials in the construction industry. The strong economy and the growing real estate industry are driving the growth of the construction industry in North America. The mineral wool steel sandwich panel market in North America is driven by various factors, including the shifting customer preference for cost-effective and efficient construction techniques.
Asia-Pacific is the fastest-growing construction market, with China, India, Japan, Indonesia, Malaysia, and Australia being the major markets. The growth of the building & construction industry and improvement in the financial conditions of countries in this region have led to a rise in demand for mineral wool steel sandwich panels. Moreover, the rapid industrialization and urbanization in the emerging economies, such as China, India, and Japan, are also boosting the growth of the mineral wool steel sandwich panel market in Asia-Pacific.
Competitive Landscape
The global market for Mineral Wool Steel Sandwich Panel is projected to witness healthy growth during the forecast period, owing to the growing number of cloud storage warehouses and rising demand for fast economic construction techniques.
Key players operating in the Global Mineral Wool Steel Sandwich Panel Market include Tata Steel Limited (India), ArcelorMittal S.A (Luxembourg), Kingspan Group (Ireland), Manni Group (Italy), Knauf (Germany), Johns Manville (US), Metecno Group (Italy), Isomec Sandwich Panels (Italy), Balex Metal (Poland), Building Component Solution LLC (Saudi Arabia), Eurobond( UK), and Paroc Group Oy (Finland).
Recent Developments
Johns Manville launched JM CladStone 110 and JM CladStone 80, which are mineral wool products with product densities depending on their exterior commercial mineral wool insulation, JM CladStone Water & Fire Block. These products come within densities ranging from 4.5 PCF to 11.0 PCF and can be used in a variety of exterior cavity walls, rain screens, and continuous insulation applications in December 2019.
Isopan invented a new leaf technology to enhance the performance of sandwich panels. The leaf technology improves the technical performances of insulating polyurethane panels using a lower thermal conductivity (Lambda), which enables the creation of thinner and lighter envelopes and a larger interior space. Moreover, this technology helps reduce energy expenses by 20% in both new and renovated buildings. In January 2017.
Tata Steel Europe, a subsidiary of Tata Group, combined its steel operations with Thyssenkrupp AG to increase its market presence in Europe, enhance its product portfolio, and counter the set back of fluctuating tariffs in the US. In July 2018.
Report Overview
As per MRFR, the Global Mineral Wool Steel Sandwich Panel Market has been growing significantly over the past few years. The Global Mineral Wool Steel Sandwich Panel Market has been segmented on the basis of card type, vehicle type, application, and region. Based on region, the graphical user interface design software market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Objective of the Study
Scope of the Report
The scope of the Global Mineral Wool Steel Sandwich Panel Market study includes the market size analysis and a detailed analysis of the vendor’s products and strategies. The Global Mineral Wool Steel Sandwich Panel Market has been segmented on the basis of card type, vehicle type, application, and region.
Intended Audience
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 1,096.7 Million |
| Market Size 2024 | USD 1,181.9 Million |
| Market Size 2032 | USD 2,098.2 Million |
| CAGR 2025 | 7.44 % |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2017 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Surface finish type, application, end-user, and region. |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, and South America |
| Key Vendors | Tata Steel Limited (India), ArcelorMittal S.A(Luxembourg), Kingspan Group(Ireland). |
| Key Market Opportunities | Rising use of sandwich panels in emerging economies |
| Key Market Drivers | • Growing number of cloud storage warehouses • Rising demand for fast and economic construction techniques |
Mineral Wool Steel Sandwich Panel Market Highlights:
Frequently Asked Questions (FAQ) :
The plain surface finish type segment is expected to drive the market during the forecasted period.
The Global Mineral Wool Steel Sandwich Panel Market has been growing rapidly over the past few decades and is expected to reach USD 2,098.2 Million Million by 2032, at a CAGR of 7.44 % during the forecast period.
Tata Steel Limited (India), ArcelorMittal S.A(Luxembourg), and Kingspan Group(Ireland). are expected to be the major competition in the Fuel Card market during the projected period
The Europe region is expected to be the largest market for Mineral Wool Steel Sandwich Panel market during the forecast period.
lack of skilled labour force may slow the growth of the Mineral Wool Steel Sandwich Panel market during the forecast period.
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Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
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