Sandwich Panels Global Market Report 2024

The sandwich panels market size has grown strongly in recent years. It will grow from $15.61 billion in 2023 to $16.99 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth observed in the historical period can be attributed to factors such as the expansion of construction industries globally, increasing per capita income, ongoing urbanization, rapid urbanization alongside infrastructural development, and a shift towards sustainable architecture and design.

The sandwich panels market size is expected to see strong growth in the next few years. It will grow to $22.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The projected growth in the forecast period can be attributed to factors including an increase in large-scale infrastructure projects, a heightened focus on sustainable building practices, the adoption of advanced manufacturing processes and automation, and the expansion of the construction industry in emerging markets. Major trends anticipated in this period include the growing popularity of aluminum and steel skin materials, the expansion of applications beyond traditional building constructions, and increased collaboration between suppliers and contractors.

The sandwich panels market is anticipated to experience growth in response to the heightened demand in the construction sector. Construction involves designing structures for specific locations and assembling various components for construction. With increasing urbanization and population growth, there is a rising need for infrastructure, housing, and commercial spaces. Sandwich panels are integral to construction due to their focus on sustainability and energy efficiency, offering swift building solutions. As an illustration, the Office for National Statistics reported an estimated 2.4% increase in monthly construction output volume in February 2023, underscoring the escalating demand for construction and subsequently boosting the sandwich panels market.

Key players in the sandwich panel market are actively pursuing innovative technologies to enhance profitability, such as sandwich panel design automation. This involves employing automated processes, tools, and software for the design and manufacture of sandwich panels. For example, in January 2022, AGACAD, a US-based software company, introduced sandwich panel design automation for Revit, addressing a significant gap in the building information modeling (BIM) tools market. This innovation facilitates the rapid production of detailed insulated panels with any supporting framework, converting an architectural Revit model into a precise sandwich panel structural model.

In October 2022, Kingspan Group, an Ireland-based building materials company, acquired Invespanel Investigacion y Desarrollo SL for an undisclosed amount. This strategic acquisition aims to enhance Kingspan's sandwich panel product line, expand its applications, and strengthen its market position. Invespanel Investigacion y Desarrollo SL, a Spain-based mineral rock sandwich panels manufacturer specializing in custom-made products, aligns with Kingspan's goals for market leadership and product diversification.

Major companies operating in the sandwich panels market are ArcelorMittal S.A., Dana Group, Marcegaglia, Kingspan Group, Nucor Corporation, TATA Steel, NCI Building Systems, Assan Panel, Arconic Inc, Fischer Profil GmbH, Lattonedil, Isopan, Italpannel S.R.L, Multicolor Steel India Pvt. Ltd, Premier Building System Inc, Jiangsu Jingxue Insulation Technology Co. Ltd, Zhong Jie Group, Building Component Solutions LLC, Metecno, Romakowski GmbH & Co. KG, InGreen Systems, 3A Composites, Arpanel, Extreme Panel Technologies Inc.

North America was the largest region in the sandwich panels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sandwich panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sandwich panels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A sandwich panel is a modular building material utilized in construction and various other applications. It consists of a core material sandwiched between two outer layers, or skins, to offer acoustic and thermal insulation. Skins made of metal, plastic, or composite materials are common, while core materials can include foam, honeycomb, or balsa wood.

The primary types of sandwich panels include polyurethane, polyisocyanurate, mineral wool, and expanded polystyrene. Polyurethane denotes the rigid foam core found within sandwich panels, providing both thermal insulation and structural support. Various skin materials, such as continuous fiber-reinforced thermoplastics (CFRT), fiberglass reinforced panel (FRP), aluminum, and steel, are utilized in applications such as wall panels, roof panels, and insulated panels. End-users encompass residential, commercial, industrial, institutional, and infrastructure sectors.

The sandwich panels market research report is one of a series of new reports that provides sandwich panels market statistics, including sandwich panels industry global market size, regional shares, competitors with a sandwich panels market share, detailed sandwich panels market segments, market trends and opportunities, and any further data you may need to thrive in the sandwich panels industry. This sandwich panels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sandwich panels market consists of sales of building panels, cold storage panels, and cleanroom panels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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