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Report
Sandwich Panels - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 120 Pages I Mordor Intelligence
The Sandwich Panels Market is expected to register a CAGR of greater than 6% during the forecast period.
The market was negatively impacted due to the COVID-19 pandemic. Owing to the pandemic scenario, several countries around the world went into lockdown. Construction works were halted temporarily due to supply chain disruptions, lack of funds, labor shortages, and lockdown restrictions. The sandwich panels market recovered from the pandemic and is growing significantly.
Key Highlights
- Over the short term, the rising demand for these panels from cold storage facilities is expected to drive the market. Moreover, the usage of PVDF-based aluminum composite panels is also expected to contribute to the market demand.
- However, the low fire performance of some sandwich panels is expected to restrain the market.
- Nevertheless, increasing the construction of industrial and commercial buildings is a significant growth opportunity for the sandwich panels market over the forecast period.
- Asia-Pacific region is expected to dominate the market with enormous consumption from countries such as China, Japan, and India.
Sandwich Panel Market Trends
Industrial Segment to Dominate the Market
- In modern-day construction, the use of high-performance materials is essential. High performance entails that the material is strong, lightweight, and durable and can be used in various applications. For this reliability, sandwich panels can be one of the best options for industrial buildings.
- The vast spectrum of applications includes everything from industrial building construction to insulated roof and wall panels. Sandwich panels are in high demand in industrial applications, particularly in cold storage facilities and warehouses.
- The number of cold storage operations meant to extend and ensure the shelf life of fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs is rapidly increasing.
- Multinational companies' expansion of retail food chains led to increased demand for cold storage. These factors, in turn, are expected to augment the demand for sandwich panels across the globe.
- The global cold chain logistics market was worth USD 255.82 billion in 2021 and is expected to exceed USD 410 billion over the next eight years.
- The Asia-Pacific cold chain logistics market was valued at USD 68.97 billion in 2021, compared to USD 61.75 billion in 2020. Over the next six years, this market is expected to reach just under USD 134 billion.
- The European cold chain logistics industry was valued at more than USD 85 billion in 2021 and is predicted to grow to USD 112.8 billion by 2025. The temperature-controlled items movement along a supply chain utilizing chilled packaging solutions to protect the quality of products such as fresh agricultural commodities, seafood, frozen food, or pharmaceutical products. It is known as cold chain logistics.
- According to the Indian Pharmaceutical Association, pharmaceutical items accounted for over two-thirds of India's cold chain storage by 2021. Due to cheap manufacturing costs and government subsidies, India includes the world's third-biggest pharmaceutical business.
- All the above factors are expected to drive the industrial segment, enhancing the demand for sandwich panels during the forecast period.
Asia-Pacific Region to Dominate the Global Market
- Asia-Pacific region is expected to dominate the global market due to the high demand from countries such as China, India, and Japan.
- China is one of the major countries in Asia-Pacific with ample construction activities, with the industrial and construction sectors accounting for approximately 50% of the GDP.
- According to China Construction Industry Association, in 2021, residential buildings accounted for a significant share of finished construction in China. Buildings intended for housing accounted for over 67% of finished floor space. As the country's economy grows, people migrate from rural regions to major cities, increasing demand for residential accommodation in these locations. Furthermore, flats utilized as investment properties also drive up demand.
- In India, in the next 4-5 years, INR 21,000 crore (USD 2.53 billion) is planned to be invested in setting up or upgrading cold storage to address the stockpiling perishable commodities problem. There is an urgent need to upgrade the existing cold storage plant machinery and technology.
- Japan's construction sector is expected to expand moderately over the next five years, owing to increasing public and private infrastructure investments, renewable energy, and commercial projects.
- According to The Ministry of Land, Infrastructure, Transport, and Tourism (Japan), building construction investments in Japan were over JPY 42.6 trillion (USD 319.93 billion) in the fiscal year 2021. Most of the investments were made that year to construct residential houses. Building construction investment raised to JPY 43.4 trillion (USD 325.93 billion) in the fiscal year 2022.
- Thus, all the above factors will likely increase demand for the sandwich panels market during the forecast period.
Sandwich Panel Industry Overview
The sandwich panels market is fragmented, with numerous players sharing the market demand. Key players in the market include ArcelorMittal, ITALPANNELLI SRL, Rautaruukki Corporation, Tata Steel, and Kingspan Group, among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Cold Storage Applications of Structural Insulated Panels
4.1.2 Increasing Demand for PVDF-based Aluminum Composite Panels
4.2 Restraints
4.2.1 Fire Performance of Some Sandwich Panels
4.2.2 Oriented Stranded Board (OSB) Emissions of Volatile Organic Compounds (VOCs)
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size by Value)
5.1 Core Material
5.1.1 Polyurethane (PUR)
5.1.2 Polyisocyanurate (PIR)
5.1.3 Mineral Wool
5.1.4 Expanded Polystyrene (EPS)
5.1.5 Other Core Materials
5.2 Skin Material
5.2.1 Continuous Fiber Reinforced Thermoplastics (CFRT)
5.2.2 Fiberglass Reinforced Panel (FRP)
5.2.3 Aluminum
5.2.4 Steel
5.2.5 Other Skin Materials
5.3 Application
5.3.1 Wall Panels
5.3.2 Roof Panels
5.3.3 Insulated Panels
5.3.4 Other Applications
5.4 End-use Sector
5.4.1 Residential
5.4.2 Commercial
5.4.3 Industrial
5.4.4 Institutional and Infrastructure
5.5 Geography
5.5.1 Asia-Pacific
5.5.1.1 China
5.5.1.2 India
5.5.1.3 Japan
5.5.1.4 South Korea
5.5.1.5 Rest of Asia-Pacific
5.5.2 North America
5.5.2.1 United States
5.5.2.2 Canada
5.5.2.3 Mexico
5.5.3 Europe
5.5.3.1 Germany
5.5.3.2 United Kingdom
5.5.3.3 Italy
5.5.3.4 France
5.5.3.5 Rest of Europe
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of South America
5.5.5 Middle-East and Africa
5.5.5.1 Saudi Arabia
5.5.5.2 United Arab Emirates
5.5.5.3 Qatar
5.5.5.4 South Africa
5.5.5.5 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ArcelorMittal
6.4.2 Areco
6.4.3 Assan Panel A.S.
6.4.4 Building Components Solutions LLC
6.4.5 Cornerstone Building Brands
6.4.6 DANA Group of Companies
6.4.7 ITALPANNELLI SRL
6.4.8 Kingspan Group
6.4.9 Multicolor Steels (India) Pvt Ltd
6.4.10 Rautaruukki Corporation
6.4.11 Safal group
6.4.12 Sintex
6.4.13 Tata Steel
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Construction of Industrial and Commercial Buildings
7.2 Other Opportunities
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