Sandwich Panels Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2025-2034)

The global sandwich panels market stood at a value of around USD 13.91 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 5.20% to reach USD 23.09 Billion by 2034.

Expanded Polystyrene (EPS) Based Sandwich Panels to Witness a Healthy Demand in the Forecast Period

Based on core material, the expanded polystyrene (EPS) segment is likely to witness a significant growth, expanding at a healthy rate in the forecast period. This can be attributed to the cost-effectiveness and lightweight of EPS sandwich panels that have excellent insulation properties. It offers a minimum cost advantage of 20% in comparison to mineral wools, such as rock wool and glass wool. Furthermore, it has a low maintenance cost. These days sandwich panels with expanded polystyrene core are mostly preferred for inside and outside walls and roofs. With the growing popularity and acceptance of expanded polystyrene, new technologies and applications of the material will continue to evolve. These factors are expected to enhance the growth of the segment in the forecast period.

The Asia-Pacific to Provide Lucrative Growth Opportunities to the Sandwich Panels Industry

Geographically, the Asia-Pacific is predicted to provide lucrative growth opportunities to the market during the forecast period. The flourishing residential construction market, particularly in China and India, is aiding the industry growth in the region. Additionally, low interest rates for home mortgages have increased residential construction, which is the key propelling factor for the growth of the sandwich panels industry in the Asia-Pacific.

Sandwich Panels: Market Segmentation

Sandwich panels are structures manufactured by joining the layers of covering metals with binding agents and insulating materials. It comprises three layers; a low-density core and a thin skin layer bonded to each side. It has the ability to protect the interior against extreme weather conditions, sound, and sudden breakout of fires. These are practical solutions for temperature control and insulation.

Market Breakup by Core Material

• Polyurethane (PUR)/Polyisocyanurate (PIR)
• Mineral Wool
• Expanded Polystyrene (EPS)
• Others

Market Breakup by Skin Material

• Continuous Fibre Reinforced Thermoplastics (CFRT)
• Fibreglass Reinforced Panel (FRP)
• Aluminium
• Steel
• Others

Market Breakup by Technology

• Continuous
• Discontinuous

Market Breakup by Application

• Wall Panels
• Roof Panels

Market Breakup by End Use Sector

• Residential
• Commercial
• Industrial
• Institutional and Others

Market Breakup by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Increase in Infrastructural Activities to Bolster the Growth of the Global Sandwich Panels Industry

The rise of infrastructural projects due to the rapid urbanisation and industrialisation in developed and developing nations is the crucial factor responsible for the growth of the global sandwich panels industry. In addition to this, the various advantages offered by the product, including thermal resistance, acoustic insulation, mechanical properties, impermeability, and fire behaviour, among others, are contributing to the growth of this market. Furthermore, improvements in the thermal performance of these panels and the implementation of stringent regulations towards energy conservation are also expected to drive the market growth in the forecast period.

Key Industry Players in the Global Sandwich Panels Market

The report gives a detailed analysis of the following key players in the global sandwich panels market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Kingspan Group
• Tata Steel
• Rautaruukki Corporation
• ArcelorMittal Construction
• ITALPANNELLI S.R.L.
• DANA Group of Companies
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.