Sandwich Panel Market to Reach USD 13.70 billion by 2031

The global sandwich panel market is anticipated to rise owing to the growing construction activities, government policies and incentives to promote green building practices, and significant innovations in sandwich panel technology.

According to the Markets and Data Research report, “Sandwich Panel Market Assessment, By Region, Opportunities and Forecast, FY2024-FY2031F”, the global sandwich panel market size was valued at USD 7.69 billion in 2023, which is expected to grow to USD 13.70 billion in 2031, with a CAGR of 7.75% during the forecast period between 2024 and 2031. The market is anticipated to rise owing to a boom in the construction industry, significant development in existing buildings, increasing urbanization, and a rise in per capita income in countries including India, the United States, and China. The global sandwich panel market demand is expected to accelerate owing to growing requirements for commercial and residential buildings, improving the requirement for effective insulation solutions, and a rise in government initiatives promoting green and energy-efficient buildings. In addition, technological advancements are playing an important role in shaping the market for sandwich panels across the globe. Innovations, including bio-based and recyclable sandwich panel solutions, are emerging to address the growing requirement for eco-friendly building materials. The integration of advanced technologies, including smart materials and 3D printing technologies, is specifically notable in sectors such as construction and aerospace, driving demand for lightweight materials that improve fuel effectiveness and lessen carbon emissions. Companies in the market are planning to invest in different research and development activities to capture greater market share and address the shifting preferences of consumers towards environmentally friendly options.

In emerging countries, rapid industrialization and urbanization are projected to drive the requirement for construction materials, including sandwich panels. Countries, including India and China, are observing large-scale infrastructure projects that demand effective and efficient building solutions. Moreover, the investment by governments of emerging countries in public infrastructure and residential construction is projected to further foster market growth in this region. The significant rise in cold storage facilities supports the increased consumption of sandwich panels, specifically those made from improved materials, including Polyvinylidene fluoride or polyvinylidene difluoride (PVDF)-based aluminum composites. With an extensive rise in urban populations, an increase in disposable income, and consumer spending on construction increases, the requirement for sandwich panels will likely continue to increase in the forecast period.

Among the end-users, sustainability has become key focus in the market for sandwich panels across the globe. With the significant rise in awareness concerning environmental issues and stricter regulations focused on decreasing carbon emissions, there is an increasing requirement for building materials that offer high performance and superior thermal insulation while decreasing the environmental impact. Sandwich panels have proved efficient in addressing this requirement owing to their energy-efficient properties.

Spread through 401 pages, the "Global Sandwich Panel Market" report includes an in-depth TOC, over 263 market data figures, the latest market developments, key drivers, and opportunities, and a thorough study of major company profiles. Moreover, the report offers strategic recommendations, pricing analysis, market share analysis, and value chain analysis in detail.

Key Takeaways:

• Sandwich panels are significantly favored for their sustainable properties, as many are made from recyclable materials, supporting sustainable building practices and lessening the environmental impact.
• The lightweight nature of sandwich panels enables speedier installation, decreasing labor costs and construction time while reducing on-site waste.
• Considerable innovations in core materials, including fiber-reinforced polymers, improve the durability and fire resistance of sandwich panels, expanding their usage in specified industries, including aerospace and automotive.
• Sandwich panels can be utilized in different settings, including residential, commercial, and industrial buildings, adapting to diverse architectural styles and requirements and driving the global sandwich panel market growth in the forecast period.

The global sandwich panel market is segmented in the following categories:

By Core Material Type: Polyurethan (PUR), Polyisocyanurate (PIR), Expanded Polystyrene (EPS), Mineral Wool, and Others

By Thickness: Below 50mm, 51-100mm, 101-150mm, 151-200mm, and Above 200mm

By Application: Wall, Floor, Roof, and Others

By Construction Type: New Construction Projects and Repair and Renovation Construction Projects

By End-Use Industry: Residential Construction and Non-Residential Construction

Based on thickness, the 50-100 mm thickness segment dominates the global market growth for sandwich panels owing to a significant increase in residential and non-residential projects, an increase in disposable income, and a growing demand for energy-efficient panels. The 50-100 mm thickness offers improved load-bearing features, making these panels appropriate for different construction requirements, including cold storage facilities and industrial buildings. This range is essential for ensuring long-lasting performance under different environmental conditions, driving the demand for 50-100mm demand in the global sandwich panel market in the forecast period. In addition, these panels are utilized significantly in different settings, including commercial buildings, warehouses, and residential structures. Their adaptability to varied architectural designs and determination improve their market demand, propelling the requirements across different industries.

Based on construction type, the new construction projects dominate the market growth, owing to the increasing investments by governments of emerging countries in commercial projects and a significant rise in infrastructural development. The construction of new buildings, particularly in the residential sector, propels the demand for sandwich panels in the global market. In addition, rapid urbanization in emerging countries, including China and India, is leading to a rise in construction activities. This trend requires efficient building materials, including sandwich panels, to address the rising housing and commercial space requirements. Furthermore, the demand for sandwich panels is versatile and can be efficiently utilized in different applications, including cold storage facilities, residential buildings, and others. This flexibility makes them favored choices for new construction projects in different sectors, propelling the requirement for sandwich panels.

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Major Companies Operating in Global Sandwich Panel Market Include:

• ArcelorMittal SA
• Kingspan Holdings Limited
• Metecno Group
• Lattonedil S.p.A.
• Rautaruukki Corporation
• Assan Panel A.S.
• Isopan S.p.A.
• DANA Group
• Tata Steel Limited
• Jiangsu Jingxue Insulation Technology Co. Ltd

Companies in the global sandwich panel market are significantly investing in different research and development activities to enhance the functioning, performance, durability, and compatibility of sandwich panels and create more sustainable solutions. Key companies in the market are efficiently planning to adopt different market growth strategies, including joint ventures, mergers and acquisitions, new product launches, collaborations, partnerships, and others to expand their footprint, gain competitive advantage, and register the largest market share. Furthermore, key participants in the global sandwich panel are significantly involved in expanding their manufacturing facilities owing to several different causes, including capturing the highest market share across the globe, taking benefits of government schemes concerning green buildings, and others.

In June 2024, Tata Steel Limited announced a USD 13.01 million investment in its Corby tube-making works following the sale of redundant land. The complex 99-acre site will become a logistics hub, featuring over 18,000 m² of Trisomet insulated panels for faster installation and enhanced water drainage and strength performance.

In June 2024, Assan Panel A.S. launched the world’s first Rockwool Solar Capped Panel, compliant with international standards. This innovative solar-compatible roof panel features a rock wool core, a lateral overlapped capped connection, and enhanced durability with PIR filling in the ribs.

“Sandwich Panel Market Assessment, FY2017-FY2031F”, evaluates the future growth potential of sandwich panel market and provides statistics and information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers to make investment decisions for their organizations more strategically. Moreover, the report identifies and examines the emerging trends along with key drivers, challenges, and opportunities in global sandwich panel market.

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