Sandwich Panel Market Growth and Recent Trends by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Sandwich Panel Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Polyurethane, Polyisocyanurate, Mineral Wool, and Others), Application (Wall Panels, Roof Panels, and Others), and End Use (Residential and Non-Residential)

Report Date : Feb 2022
Report Code : TIPRE00017588

Category : Chemicals and Materials
Status : Published

Available Report Formats :
No. of Pages : 154

Also Available in :

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Page Updated: Jun 2024

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The sandwich panel market was valued at US$ 2,711.11 million in 2021 and is projected to reach US$ 4,256.62 million by 2028; it is expected to grow at a CAGR of 6.7% from 2021 to 2028.

Sandwich panels are a triple-layer structure that contains hard and rigid thin outer skin and insulating core material in between. This structure protects the interior against sound, extreme weather conditions, and sudden breakout of fires.

In 2020, Asia Pacific held the largest revenue share of the global sandwich panel market. The growth of the market in the region can be attributed to the rapid industrialization and building construction activities. The region is witnessing a rise in the construction of cold storage, warehouses, shopping malls, industrial and commercial buildings. Furthermore, the region is known as the largest producer of agricultural products globally, which results in a greater number of agricultural premises construction across the region to store crops. Hence, the factors mentioned above are fostering the demand for sandwich panels in the region.

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Sandwich Panel Market: Strategic Insights

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Impact of COVID-19 Pandemic on Sandwich Panel Market

The COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the sandwich panel market. Industries such as construction, cold storage, and chemical have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. The significant decline in the growth of several industrial sectors has impacted the demand for sandwich panels in the global market. The demand for sandwich panels has been negatively affected due to the total shutdown of construction activities and halt in expansion or new construction of plants and factories. However, the demand for sandwich panel products has been substantial from pharmaceutical and food & beverages manufacturing facilities as these industries witnessed growth during the lockdown. This helped the sandwich panel market to sustain itself to a certain extent.

Market Insights

Growing Cold Storage Applications of Sandwich Panels

Sandwich panels are increasingly used in many commercial settings, including large refrigeration areas. They are also ideal for warehouses to store sensitive items that need to be kept at a steady temperature, such as frozen products and other temperature-sensitive items. Rise in retail food processing demand for products that need efficient cold storage facilities. Furthermore, during the pandemic, increased online grocery sales and expanded e-commerce channels resulted in the need to expand cold storage facilities.

Sandwich panels are used in refrigerated trucks, also known as reefer trailers, for transporting temperature-sensitive items. The growing demand for ready-to-eat/cook, dairy products, and pharma items is propelling the need for reefer trucks. This, in turn, will boost the growth of the sandwich panels market.

Application Insights

Based on application, the global sandwich panel market has been segmented into wall panels, roof panels, and others. The wall panels segment held the largest share in the global sandwich panel market in 2020. Wall panel provides sound insulation, which minimizes the harmful effects of noise on humans, leaves out unwanted sounds, and reduces the sound spreading around from noisy areas. The growing need for sound and thermal proof premises in various industries is expected to propel the growth of the wall panels segment during the forecast period.

Kingspan Group, Assan Panel, Isopan, Tata Steel, ArcelorMittal, Attonedil, Italpanneli S.R.L, DANA Group of Companies, Zhongjie Group, and Multicolor Steel India Pvt. Ltd. are among the major players operating in the sandwich panel market. These companies provide a wide range of product portfolios and have a widespread global presence.

Sandwich Panel Market Regional Insights

The regional trends and factors influencing the Sandwich Panel Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Sandwich Panel Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Sandwich Panel Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 2.71 Billion
Market Size by 2028	US$ 4.26 Billion
Global CAGR (2021 - 2028)	6.7%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Material Polyurethane Polyisocyanurate Mineral Wool By Application Wall Panels Roof Panels By End Use Residential and Non-Residential
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Kingspan Group Assan Panel Isopan Tata Steel Arcelormittal Lattonedil Italpannelli S.R.L. Dana Group of Companies Zhongjie Group

Sandwich Panel Market Players Density: Understanding Its Impact on Business Dynamics

The Sandwich Panel Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Get the Sandwich Panel Market top key players overview

Report Spotlights

Progressive industry trends in the sandwich panel market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the sandwich panel market from 2019 to 2028
Estimation of global demand for sandwich panels
Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
Recent developments to understand the competitive market scenario
Market trends and outlook, as well as factors driving and restraining the growth of the sandwich panel market
Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
The size of the sandwich panel market at various nodes
Detailed overview and segmentation of the market, as well as the sandwich panel industry dynamics
Size of the sandwich panel market in various regions with promising growth opportunities

Global Sandwich Panel Market

Material
- Polyurethane
- Polyisocyanurate
- Mineral Wool
- Others
Application
- Wall Panels
- Roof Panels
- Others
End Use
- Residential
- Non-Residential

Company Profiles

Kingspan Group
Assan Panel
Isopan
Tata Steel
ArcelorMittal
Attonedil
Italpanneli S.R.L
DANA Group of Companies
Zhongjie Group
Multicolor Steel India Pvt. Ltd.

Frequently Asked Questions

On the basis of end use, which segment led the global sandwich panel market in 2020?

Based on end use, the non-residential segment led the global sandwich panel market in 2020. The dominance of the non-residential segment can be attributed to the extensive application of sandwich panels at various end use industries. Moreover, the rapid industrialization in developing economies is expected to boost the demand for sandwich panels as in modern times, industrial buildings are heavily using sandwich panels due to cost-effectiveness and reduced time. Furthermore, increasing warehouses and cold stores across the globe is further bolstering the application of sandwich panels. Consequently, the growing number of sports facilities, cold stores, warehouses, and manufacturing buildings across the globe is accelerating the demand for the sandwich panel.

What are the trends for the global sandwich panel market?

The growing inclination for sustainable products is the key trend for the sandwich panel market. There is a rising inclination toward sustainable and green products. Buildings constructed with sandwich insulated panels are more energy-efficient than traditional buildings. The sandwich panel also helps lower energy costs. Besides, many sustainable bio-based foam cores and resins are being introduced. Market players are also focusing on offering composite panels made from bio-based materials.

What are the drivers for the growth of the global sandwich panel market?

Growing cold storage applications of sandwich panels and increasing demand for PVDF-based aluminum composite panels are the key factors driving the sandwich panel market during the forecast period. Moreover, there is increasing use of different advanced and popular materials for the construction of buildings, homes, and offices. Various emerging economies are focusing on creating new buildings and structures. PVDF-coated aluminum composite panel panels are increasingly used to decorate storefronts, shopping malls, industrial facilities, educational institutes, advertisement screens, signage, display systems, hospitals, and curtain wall cladding of buildings. Hence these are the key drivers for the growth of the global sandwich panel market.

On the basis of application, which segment led the global sandwich panel market in 2020?

Based on application, the wall panels segment led the global sandwich panel market in 2020. Wall panel provides sound insulation which minimizes the harmful effects of noise on humans, leaves out unwanted sounds, and reduces the sound spreading around from noisy areas. Additionally, growing demand for air and watertight sandwich wall panels to ensure the continuity of temperature insulation at cold storage and warehouses. Thus, the growing need for sound and thermal proof premises at various industries is expected to propel the growth of the wall panels segment of the sandwich panel market in the forecast years.â€ƒ

Can you list some of the major players operating in the global sandwich panel market?

The major players operating in the global sandwich panel market are Kingspan Group, Assan Panel, Isopan, Tata Steel, ArcelorMittal, Attonedil, Italpanneli S.R.L, DANA Group of Companies, Zhongjie Group, and Multicolor Steel India Pvt. Ltd.

During the forecast period, which region is anticipated to account for the largest share of the global sandwich panel market?

During the forecast period, Asia-Pacific is anticipated to account for the largest share of the global sandwich panel market. Asia-Pacific region comprises several developed and developing economies, including China, India, Japan, South Korea, among others. The growth of the market in the region can be attributed to the rapid industrialization and building construction activities. The region is witnessing rise in the construction of cold storage, warehouses, shopping malls, industrial and commercial buildings. Furthermore, the region is also known as the largest producer of agricultural products globally, and this factor resulting in a greater number of agricultural premises construction across the region to store agricultural crops. Hence, the above-mentioned factors in the region are fostering the demand for the sandwich panel.

Research Manager

Habi Ummer

Manager,
Market Research & Consulting

Habi is a seasoned Market Research Analyst with 8 years of experience specializing in the Chemicals and Materials sector, with additional expertise in the Food & Beverages and Consumer Goods industries. He is a Chemical Engineer from Vishwakarma Institute of Technology (VIT) and has developed deep domain knowledge across industrial and specialty chemicals, paints and coatings, paper and packaging, lubricants, and consumer products. Habi’s core competencies include market sizing and forecasting, competitive benchmarking, trend analysis, client engagement, report writing, and team coordination—making him adept at delivering actionable insights and supporting strategic decision-making.

What are the Sandwich Panel Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Sandwich Panel Market Report Snapshots

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