Sandwich Panels Market Synopsis

Sandwich Panels Market Size Was Valued at USD 9.95 Billion in 2023 and is Projected to Reach USD 20.39 Billion by 2032, Growing at a CAGR of 8.3% From 2024-2032.

Lightweight steel constructions made of sandwich panels are a common solution for roof and wall claddings. Due to the excellent weight-to-load ratio, their good heat insulation, their high load-bearing capacity as well as the economical manufacturing and erection process, sandwich panels are used frequently.

• Besides the aforementioned advantages the linear manufacturing process of sandwich panels normally limits the possible building cubature to rectangular shapes. Another construction form coming with an even lower ratio of weight to load is shell structures.
• In the 20th century, many shell structures were built, following the technical and scientific progress of that time. In times of growing importance of construction time, the growing costs of construction site equipment, and wages, building an economical economically efficient structure requires high levels of prefabrication and short assembly times.

Sandwich Panels Market Trend Analysis

Rising demand for eco-friendly sandwich panels in sustainable construction drives green certifications.

• The growing focus on sustainable construction and environmentally friendly building methods creates chances for manufacturers to promote eco-friendly sandwich panels. Products that fulfill or surpass environmental criteria and support green certifications can access the increasing demand.
• Increasing need for energy-saving buildings is resulting in the utilization of sandwich panels with enhanced thermal insulation. The use of environmentally friendly materials in construction is being promoted by sustainability efforts to reduce environmental impact.
• Automated tape laying and fiber placement technologies in manufacturing have enhanced accuracy and decreased production duration for sandwich panels. Sandwich panels are crucial for simplifying installation as prefabricated and modular construction techniques gain popularity. Demand from food processing and pharmaceutical industries is fueling growth in cold storage and refrigeration applications. Urbanization is on the rise and leading to more construction projects utilizing sandwich panels in infrastructure development.

Emerging markets need cost-effective building materials like sandwich panels for urbanization and industrialization.

• Emerging markets present growth opportunities because of the process of urbanization and industrialization. There is a great need for cost-effective, energy-efficient building materials such as sandwich panels. Advancements in technology open up possibilities for improved performance.
• Tailored sandwich panels can be designed for specific markets, such as soundproofing or fire protection. With the expansion of cold chain logistics, the need for panels in temperature-controlled environments is increasing.
• Growing utilization of lightweight sandwich panels in automotive, aerospace, and railway sectors for improved fuel efficiency. Government efforts to encourage energy efficiency can generate interest in these materials.

Sandwich Panels Market Segment Analysis:

Sandwich Panels Market Segmented on the basis of Core Material, Skin Material, Application, Thickness, End-use, And Distribution Channel.

By Core Material, Polyurethane, Polyisocyanurate Segment Is Expected to Dominate the Market During the Forecast Period

• Sandwich panels are commonly chosen for their superior thermal insulation and fire resistance, with PUR and PIR cores being the preferred options. They assist in preserving energy efficiency within buildings while also meeting strict fire safety regulations. PIR is preferred over PUR due to its superior fire performance, making it suitable for situations where fire safety is of utmost importance. The dominance of PIR in the market is driven by its regulatory compliance.
• PUR and PIR cores, which are both lightweight and have high strength, make transportation and installation easier. Their ability to withstand wear and repel moisture help in the longevity of sandwich panels. Simplified operation and fast setup help cut down on construction time and expenses, particularly in extensive projects, while still ensuring long-lasting performance.
• PUR and PIR cores are adaptable for various uses such as industrial buildings, warehouses, and cold storage facilities. They offer top-notch thermal insulation that is essential for preserving cold temperatures in refrigeration environments. Even with their affordable prices, these materials provide lasting advantages like energy efficiency and lower upkeep expenses, which make them the top pick for building projects. The increasing need for energy-efficient buildings coincides with the sustainability objectives of decreasing energy usage and meeting regulations.

By Skin Material, CFRT Segment Held the Largest Share

• CFRT materials are becoming increasingly popular for use in sandwich panel skins because of their excellent mechanical properties, such as high strength-to-weight ratio and durability thanks to continuous fibers. They provide design versatility by customizing characteristics and shaping into intricate forms, suiting industries such as aerospace and automotive. CFRT's advantageous properties are making it the top choice for a variety of high-performance sectors.

• CFRT is perfect for sectors such as automotive and aerospace due to its combination of light weight and superior performance. Moreover, CFRT materials offer corrosion resistance and durability, making them beneficial for use in industries exposed to harsh conditions like construction and marine environments.
• CFRT materials offer ease of manufacturing and processing through thermoplastic processing, leading to shorter cycle times and lower production costs compared to thermoset-based composites. The automation potential of CFRT allows for high-volume production with consistent quality, making it suitable for large-scale industrial applications. CFRT's recyclability aligns with the growing focus on sustainability, and its lightweight nature contributes to energy efficiency in applications like transportation. The aerospace, automotive, construction, and renewable energy sectors are driving the growing demand for CFRT materials.

Sandwich Panels Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

• The sandwich panel market is primarily led by Asia-Pacific because of fast urbanization, industrial expansion, and increasing infrastructure projects. China, India, and countries in Southeast Asia are fueling the need for sandwich panels in construction projects.
• The demand has led to growth in the food processing and cold storage sectors in Asia-Pacific. Sandwich panels with thermal insulation are essential for maintaining temperature in cold storage facilities. Affordable housing is popular due to cost-effective construction methods such as sandwich panels. Initiatives focused on green construction are increasing the need for eco-friendly materials such as sandwich panels.
• Improvements in manufacturing techniques and the availability of raw materials have boosted the local production of sandwich panels, leading to lower costs and improved accessibility. Increasing levels of disposable income and shifts in lifestyle preferences are fueling the need for higher quality structures that utilize energy-efficient sandwich panels. The growing automotive and aerospace sectors in Asia-Pacific are embracing sandwich panels for producing parts, further solidifying the region's leading position in the market.

Sandwich Panels Market Active Players

• Kingspan Group (Ireland)
• NCI Building Systems, Inc. (USA)
• ArcelorMittal Construction (Luxembourg)
• Rautaruukki Corporation (Finland)
• TATA Steel (India)
• Metecno Group (Italy)
• Isopan S.p.A. (Italy)
• Assan Panel (Turkey)
• Alubel S.p.A. (Italy)
• Manni Group S.p.A. (Italy)
• Dana Group (UAE)
• Joris Ide (Belgium)
• Paroc Group (Finland)
• Zamil Steel (Saudi Arabia)
• Italpannelli Srl (Italy)
• Alfa-Panel (Russia)
• Nucor Building Systems (USA)
• Paneltech Ltd. (Poland)
• Sintex Industries Ltd. (India)
• BCOMS (Building Component Solutions LLC) (Saudi Arabia)
• DANA Steel (UAE)
• Lindab (Sweden)
• Fischer Profil GmbH (Germany)
• TSSC Group (UAE)
• Hoesch Bausysteme GmbH (Germany)
• Bluescope Steel Limited (Australia)
• Izopanel Sp. z o.o. (Poland)
• Zhongjie Group (China)
• Romakowski GmbH & Co. KG (Germany)
• Paneltech International LLC (USA), and Other Active Players.

Key Industry Developments in the Sandwich Panels Market:

• In Mar 2024, BASF and Shandong Wiskind Architectural Steel Co., Ltd. (Wiskind) have expanded their strategic partnership with a sustainable polyurethanes (PU) sandwich panels for cold chain applications.
• In Apr 2024, Sustainable lightweight thermoplastic honeycomb panel with flax fibre composites to replace glass and carbon fibre materials – innovation by EconCore & Flaxco (Division of Flipts & Dobbels NV) partnership.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. SANDWICH PANELS MARKET BY CORE MATERIAL (2017-2032)
   1. SANDWICH PANELS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. POLYURETHANE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. POLYISOCYANURATE
   5. MINERAL WOOL
   6. EXPANDED POLYSTYRENE
7. SANDWICH PANELS MARKET BY SKIN MATERIAL (2017-2032)
   1. SANDWICH PANELS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. CONTINUOUS FIBRE REINFORCED THERMOPLASTICS {CFRT}
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. FIBERGLASS REINFORCED PANEL {FRP}
   5. ALUMINUM
   6. STEEL
8. SANDWICH PANELS MARKET BY APPLICATION (2017-2032)
   1. SANDWICH PANELS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. WALL PANELS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. ROOF PANELS
   5. INSULATED PANELS
   6. FLOOR PANELS
9. SANDWICH PANELS MARKET BY THICKNESS (2017-2032)
   1. SANDWICH PANELS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. BELOW 60 MM
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. 60 - 100 MM
   5. 100 - 140 MM
   6. 140 - 180 MM
   7. ABOVE 180 MM
10. SANDWICH PANELS MARKET BY END-USE (2017-2032)
    1. SANDWICH PANELS MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. RESIDENTIAL BUILDINGS
       1. Introduction And Market Overview
       2. Historic And Forecasted Market Size in Value (2017-2032F)
       3. Historic And Forecasted Market Size in Volume (2017-2032F)
       4. Key Market Trends, Growth Factors And Opportunities
       5. Geographic Segmentation Analysis
    4. COMMERCIAL BUILDINGS
    5. INDUSTRIAL BUILDINGS
    6. COLD STORAGE
11. SANDWICH PANELS MARKET BY DISTRIBUTION CHANNEL (2017-2032)
    1. SANDWICH PANELS MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. DIRECT SALES
       1. Introduction And Market Overview
       2. Historic And Forecasted Market Size in Value (2017-2032F)
       3. Historic And Forecasted Market Size in Volume (2017-2032F)
       4. Key Market Trends, Growth Factors And Opportunities
       5. Geographic Segmentation Analysis
    4. INDIRECT SALES
12. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Benchmarking
       2. Sandwich Panels Market Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
       6. KINGSPAN GROUP (IRELAND)
       7. Company Overview
       8. Key Executives
       9. Company Snapshot
       10. Role of the Company in the Market
       11. Sustainability and Social Responsibility
       12. Operating Business Segments
       13. Product Portfolio
       14. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       15. Key Strategic Moves And Recent Developments
       16. SWOT Analysis
    2. KINGSPAN GROUP (IRELAND)
    3. NCI BUILDING SYSTEMS, INC. (USA)
    4. ARCELORMITTAL CONSTRUCTION (LUXEMBOURG)
    5. RAUTARUUKKI CORPORATION (FINLAND)
    6. TATA STEEL (INDIA)
    7. METECNO GROUP (ITALY)
    8. ISOPAN S.P.A. (ITALY)
    9. ASSAN PANEL (TURKEY)
    10. ALUBEL S.P.A. (ITALY)
    11. MANNI GROUP S.P.A. (ITALY)
    12. DANA GROUP (UAE)
    13. JORIS IDE (BELGIUM)
    14. PAROC GROUP (FINLAND)
    15. ZAMIL STEEL (SAUDI ARABIA)
    16. ITALPANNELLI SRL (ITALY)
    17. ALFA-PANEL (RUSSIA)
    18. NUCOR BUILDING SYSTEMS (USA)
    19. PANELTECH LTD. (POLAND)
    20. SINTEX INDUSTRIES LTD. (INDIA)
    21. BCOMS (BUILDING COMPONENT SOLUTIONS LLC) (SAUDI ARABIA)
    22. DANA STEEL (UAE)
    23. LINDAB (SWEDEN)
    24. FISCHER PROFIL GMBH (GERMANY)
    25. TSSC GROUP (UAE)
    26. HOESCH BAUSYSTEME GMBH (GERMANY)
    27. BLUESCOPE STEEL LIMITED (AUSTRALIA)
    28. IZOPANEL SP. Z O.O. (POLAND)
    29. ZHONGJIE GROUP (CHINA)
    30. ROMAKOWSKI GMBH & CO. KG (GERMANY)
    31. PANELTECH INTERNATIONAL LLC (USA)
13. GLOBAL SANDWICH PANELS MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Core Material
       4. Historic And Forecasted Market Size By Skin Material
       5. Historic And Forecasted Market Size By Application
       6. Historic And Forecasted Market Size By Thickness
       7. Historic And Forecasted Market Size By End-use
       8. Historic And Forecasted Market Size By Distribution Channel
       9. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
14. INVESTMENT ANALYSIS
15. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies
       1. 1. Thailand
          2. Vietnam
          3. The Philippines
          4. Australia
          5. New-Zealand
          6. Rest Of APAC
    3. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    4. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
16. INVESTMENT ANALYSIS
17. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies