Sandwich Panel Market by Type (Expanded Polystyrene Sandwich Panels, Glass Wool Sandwich Panels, Polyurethane & Polyisocyanurate Sandwich Panels), Material (Core Material, Skin Material), Application - Global Forecast 2024-2030

Sandwich Panel Market by Type (Expanded Polystyrene Sandwich Panels, Glass Wool Sandwich Panels, Polyurethane & Polyisocyanurate Sandwich Panels), Material (Core Material, Skin Material), Application - Global Forecast 2024-2030

The Sandwich Panel Market size was estimated at USD 12.34 billion in 2023 and expected to reach USD 13.28 billion in 2024, at a CAGR 7.94% to reach USD 21.08 billion by 2030.

A sandwich panel is a structured composite material comprising three layers: a low-density core and two high-strength outer layers. The core is typically made from lightweight materials such as foam, while the outer skins are usually constructed from sturdier materials such as steel or aluminum. The juxtaposition of these materials gives the panel a high strength-to-weight ratio, making sandwich panels effective for construction and manufacturing, particularly for walls, roofs, and doors where insulation and durability are essential. The design effectively insulates against heat and sound while also providing structural rigidity. Sandwich panels are highly demanded to construct energy-efficient residential and commercial buildings. The demand for these panels is expected to rise as global focus shifts toward sustainability and energy saving, driving market growth. In addition, the growing demand for cold storage facilities, essential for preserving perishables such as food and pharmaceuticals, is significantly propelling the growth of the sandwich panel market. Sandwich panels are used in constructing these facilities due to their excellent insulation properties, which are critical for maintaining low temperatures. However, the adoption of sandwich panels is often hindered by the substantial initial investment required. These panels involve high upfront costs due to the advanced materials and complex manufacturing processes associated with their production. The ongoing technological advancements in insulation materials offer significant market expansion opportunities, offering superior thermal resistance and energy efficiency. This enhancement aligns with global trends toward sustainability and energy savings, propelling an increased demand for sandwich panels, particularly in the construction sector.

Regional Insights

The sandwich panel market is showcasing market growth in the Americas, driven by the industrial and commercial construction sectors, emphasizing energy-efficient and sustainable building practices. Consumer purchasing behavior in the U.S. and Canada is heavily influenced by product durability and energy efficiency, with an increasing emphasis on sustainable and eco-friendly materials. The Asia-Pacific region is showcasing growth in the sandwich panel market, with rapid urbanization, increasing industrialization, and growing infrastructure in countries, such as China, India, and Japan. Sandwich panels are extensively used owing to their cost-effectiveness, lightweight nature, and thermal insulation properties, which are ideal for the diverse climatic conditions of the region. The Asia-Pacific market also benefits from an expanding manufacturing sector that demands efficient construction solutions. In the EMEA region, Europe showcases a high demand for sandwich panels, driven by energy regulation directives and the need for energy-efficient buildings. The Middle East showcases market growth aligned with extensive construction activities, particularly in the Gulf Cooperation Council (GCC) countries. Africa showcases potential for market expansion due to urbanization and the need for quick and cost-effective construction solutions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Sandwich Panel Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing demand in the construction of energy-efficient residential and commercial buildings
• Growing demand for cold storage facilities
• Rising use of sandwich panels in commercial aircraft fleet

Market Restraints

• High initial investment for setting up manufacturing facilities for sandwich panels

Market Opportunities

• Ongoing advancements in insulation technologies for enhanced energy efficiency
• Emphasis on energy efficiency and sustainable construction practices

Market Challenges

• Integration and deployment in diverse construction environments

Market Segmentation Analysis

• Type: Increasing use of PU and PIR sandwich panels due to their effective insulation properties, lightweight, and compatibility with sustainable building practices
• Application: Widening applications in commercial buildings

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Sandwich Panel Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Sandwich Panel Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Refitech Celebrates 35 Years with Launch of Advanced Composite Sandwich Panels

Refitech Composite Solutions celebrates its 35th anniversary by launching an innovative series of sandwich panels prepared from carbon and fiberglass composites with a Nomex honeycomb core. These panels are notably effective in applications requiring extreme lightness, including rail and aerospace interiors and components for unmanned aerial vehicles (UAVs) and robotic systems. The panels combine durability with low weight, addressing the core needs of modern industrial applications.

BASF and Shandong Wiskind Launched New Eco-Friendly Polyurethane Panels for Cold Storage

BASF, in partnership with Shandong Wiskind Architectural Steel Co., Ltd., launched a new line of eco-friendly polyurethane sandwich panels for cold storage applications. These panels are enhanced with BASF's Biomass Balance (BMB) MDI, underscoring a significant step in sustainable construction materials. Wiskind, recognized as Asia’s first PU sandwich panel manufacturer certified with the ISCC PLUS (International Sustainability and Carbon Certification), amplifies this advancement, contributing to environmentally conscious building solutions.

Ruukki Enhanced Construction Standards with Recertified, Fire-Resistant Sandwich Panels

Ruukki re-certified its sandwich panels in accordance with DSTU EN 14509, ensuring compliance with modern construction standards. The evaluation spanned a series of rigorous tests across various standards, confirming the quality and safety of their expanded product line. This includes the introduction of polyisocyanurate foam core panels having superior fire-resistance capacities, E-PIR, X-PIR, and F-PIR, that broaden their usage in more fire-sensitive structures. The certification also extends to a range of supplementary FM Approved panels, radiused panels, and associated construction accessories, ensuring a comprehensive solution for modern building requirements.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Sandwich Panel Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Sandwich Panel Market, highlighting leading vendors and their innovative profiles. These include Alfa PEB Limited, Alubel SpA, ArcelorMittal S.A, Areco Group, Assan Panel A.S. by Kibar Holding, BRDECO Group, Building Component Solutions LLC by Zamil Industrial, DANA Group of Companies, Heilongjiang Zhongjie Steel Structure Engineering Co., Ltd., ITALPANNELLI SRL, Kingspan Group PLC, LATTONEDIL SPA MILAN, MANNI GROUP S.p.A., Multicolor Steels India Pvt Ltd., Padmashri Steel, Paneltech Spółka z o.o., Romakowski GmbH & Co. KG, Sintex-BAPL Ltd. by Welspun, Tata Steel Limited, and Viraat Industries.

Market Segmentation & Coverage

This research report categorizes the Sandwich Panel Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type

• Expanded Polystyrene Sandwich Panels
• Glass Wool Sandwich Panels
• Polyurethane & Polyisocyanurate Sandwich Panels
• Rock Wool Sandwich Panels
• Material
• Core Material
• Expanded Polystyrene
• Polyurethane
• Rockwool
• Skin Material
• Aluminum
• Fiberglass
• Steel

Application

• Commercial Buildings
• Industrial Buildings
• Residential

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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