Sandwich Panels Market Size To Reach $14.99 Billion By 2030

Sandwich Panels Market Growth & Trends

The global sandwich panels market size is expected to reach USD 14.99 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.3% from 2024 to 2030 This growth can be attributed to flourishing global construction sector around the globe. The construction industry across the world is witnessing significant growth owing to rising public and private investments in the development of transportation infrastructure, residential spaces, and commercial buildings. This growth is expected to offer increased demand for sandwich panels.

Furthermore, factors such as the growing global population, rising per capita income of the masses in countries such as the U.S., Mexico, India, and China, and ongoing urbanization are fueling the construction of residential and non-residential buildings worldwide. This, in turn, is anticipated to drive the global demand for sandwich panels in the coming years.

Initiatives undertaken by governments of different countries across the world to encourage and promote the construction of green and energy-efficient buildings are also fueling the global demand for sandwich panels. This is because sandwich panels are lightweight. Moreover, they improve the external appearance and thermal performance of buildings.

The demand for energy-efficient buildings is increasing owing to the presence of stringent government regulations and the rise in global awareness regarding environmental preservation, this in turn, is anticipated to fuel the installation of thermal insulation such as sandwich panels in residential, non-residential, commercial, and industrial buildings. Favorable government policies, coupled with increasing awareness among the masses in Asia Pacific and Central & South America, are also key factors driving the growth of sandwich panels market.

Sandwich panels market is expected to be negatively affected by the high initial installation costs of these panels and maintenance issues related to them. The problems associated with the routine maintenance or performance evaluation processes of materials surge without removing their insulation layers or framework. This increases the risk of failure if structural components are not checked and maintained regularly. However, growing technological initiatives are projected to result in the production of superior materials for use as thermal insulation in buildings, thereby reducing the maintenance requirements of structural components.

The sandwich panels market exhibits the presence of large number of product manufacturers with high manufacturing capacity and geographical presence. These manufacturers are continuously investing in improving the quality and volume of the production. In addition, the manufacturers are largely dependent on reliable suppliers with high goodwill on account of past product procurement, making it moderately difficult for the new entrants to penetrate in the market. This is anticipated to limit the entry of new market players. Moreover, high initial investment required to set up the business is expected to further restrict new entrants.

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Sandwich Panels Market Report Highlights

• The polystyrene panels segment dominated the market in 2023 and accounted for a revenue share of 72.4%. Foamed plastics, also known as cellular polymers or expanded plastics, are insulation materials that offer superior sound absorption.

• The non-residential sub-segment dominated the market with a revenue share of 58.5% in 2023 and is further expected to grow at the highest rate from 2024 to 2030.

• The walls and floors application segment was valued at the highest revenue share of 53.96% in 2023 and is projected to expand at a CAGR of 7.6% from 2024 to 2030.

• Asia Pacific is expected to witness the fastest revenue CAGR of 8.8% from 2024 to 2030. Expansion of the residential, commercial, and industrial sectors on account of sustainable economic growth in Asia Pacific is expected to boost construction activities, thereby driving product demand.

Sandwich Panels Market Segmentation

Grand View Research has segmented the global sandwich panels market on the basis of product, application, end-use, and region:

Sandwich Panels Product Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)

• Polystyrene Panels

• Polyurethane Panels

• Glass Wool Panels

• Others

Sandwich Panels Application Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)

• Walls & Floors

• Roofs

• Cold Storage

Sandwich Panels End-use Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)

• Residential

• Non-residential

Sandwich Panels Regional Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Spain

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • UAE

List of Key Players in the Sandwich Panels Market

• Kingspan Group

• Owens Corning

• Isopan

• PFB Corporation

• Metecno Group

• Green Span Profiles

• American Insulated Panel

• Metl-Span

• KPS Global

• Dana Group of Companies

• American Buildings Company

• Ingreen Building Systems

• Structural Panels Inc.

• Hemsec Manufacturing Ltd.

• FischerSIPS