Sandwich Panels Industry to Grow from USD 18.19 Billion in 2024 to USD 33.68 Billion by 2035 - TMR Insights

Sandwich Panels Market Outlook 2035

The global sandwich panels industry was valued at USD 18,192.4 million in 2024. The market is estimated to grow at a CAGR of 5.7% from 2025 to 2035, reaching approximately USD 33,678.9 million by the end of 2035. Growth is being driven by rising demand for energy-efficient construction materials, growth in industrial infrastructure, and advancements in lightweight structural solutions.

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Market Overview

Sandwich panels are multi-layered building materials made of two metal sheets enclosing an insulating core. They are widely adopted in residential, commercial, industrial, and cold storage construction due to their superior thermal insulation, structural strength, durability, and fire resistance.

As governments and developers prioritize sustainable building practices and fast-paced construction to meet rising global infrastructure needs, sandwich panels are becoming essential in modern construction systems. Their ability to offer quick installation, minimal maintenance, and high insulation value makes them an ideal solution for large-scale infrastructure and industrial projects.

Market Description

Sandwich panels are manufactured using insulation materials such as polyurethane (PU), polyisocyanurate (PIR), expanded polystyrene (EPS), and mineral wool, depending on thermal, fire-safety, and mechanical requirements.
Key applications include:
• Industrial buildings & warehouses
• Cold storages & food processing facilities
• Commercial complexes
• Prefabricated structures
• Cleanrooms & healthcare facilities

The shift toward prefabrication and modular building technologies is further boosting the adoption of sandwich panels across regions and industry verticals.

Analysis of Key Players in the Sandwich Panel Market

The global sandwich panels market features a mix of major multinational corporations and numerous mid-sized and regional manufacturers. Leading companies are prioritizing the development of high-performance, energy-efficient, and durable sandwich panels to cater to applications across commercial and industrial construction, warehousing, and temperature-controlled storage facilities.

Prominent companies operating in the market include ArcelorMittal, Areco Group, Assan Panel A.S., Avient Corporation, Balex-Metal, DANA Group of Companies, Kingspan Group, Manni Group S.p.A, Metecno Group, Nucor Corporation, Romakowski GmbH & Co. KG, Tata Steel, and Rinac, along with several other regional and global participants.

These players have been evaluated in the sandwich panels market report based on their corporate profile, financial performance, strategic initiatives, product portfolio, market segments served, and recent advancements.

Key Developments in the Sandwich Panel Market

• June 2025 - Rinac India Limited
Rinac India Limited entered into a strategic partnership with Epta to strengthen India's cold chain and food retail refrigeration ecosystem. The collaboration combines Epta's advanced global refrigeration technologies with Rinac's extensive local market expertise, nationwide service network, and installation capabilities, aiming to accelerate cold-chain infrastructure development across the country.

• April 2025 - Kingspan Group
Kingspan Group commenced construction of a €280 million Building Technology Manufacturing Campus near Lviv, Ukraine, after securing its first building permit. This major investment underscores the company's strategy to expand its production capacity for sandwich panels and advanced building technology solutions in Europe. The new facility is expected to boost supply capabilities, address rising demand, and support innovation in sustainable, energy-efficient construction materials.

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Analysts' Viewpoint on the Sandwich Panel Market

The sandwich panel market is expanding steadily, driven by rising demand for durable, lightweight, and thermally efficient building materials. Sandwich panels-consisting of two metal outer layers with an insulating core-are widely used in roofing, wall cladding, and cold storage facilities due to their superior structural strength and insulation performance.

Polyurethane (PUR) and polyisocyanurate (PIR) are the most commonly preferred core materials, offering excellent thermal insulation and fire resistance. Expanded polystyrene (EPS) and mineral wool are also used, particularly in cost-sensitive applications or where enhanced fire and acoustic performance is required.

Cold storage and industrial applications account for the largest market share, supported by significant demand from the food processing, pharmaceutical, and logistics industries where temperature-controlled environments are essential. The commercial sector, including offices, malls, and institutional buildings, follows closely. Meanwhile, the residential segment is gaining momentum with the increasing adoption of prefabricated and modular construction solutions.

Asia Pacific continues to dominate the global market, fueled by rapid industrialization, infrastructure expansion, and strong growth in the construction sector. Overall, the sandwich panel market remains diverse, catering to a wide range of industrial, commercial, and residential applications.

Key Player Strategies

• Product Innovation: Development of advanced fire-resistant and eco-friendly insulation core materials
• Geographic Expansion: Establishing regional manufacturing units for competitive logistics and cost efficiency
• Sustainability Commitment: Using recyclable metals and low-carbon manufacturing processes
• R&D Investments: Improving structural performance, acoustic insulation, and surface durability
• Smart Construction Integration: Offering turnkey modular building panel systems and BIM-compatible solutions

Challenges

• Fluctuation in raw material prices (steel, insulation materials)
• Strict building safety regulations (especially related to fire safety)
• Limited awareness in emerging regions compared to traditional building materials
• Installation quality dependency on skilled technicians

Opportunities

• Continued boom in cold chain, warehouse, and e-commerce infrastructure
• Expansion of modular construction in healthcare, hospitality, and defense sectors
• Growing demand for green buildings and energy-efficient materials
• Rising infrastructure spending in Asia-Pacific, Middle East, and Africa
• Technological advancements in sandwich panel coatings and insulation technologies

Market Segmentation

By Core Material
• Polyurethane (PU) / Polyisocyanurate (PIR)
• Expanded Polystyrene (EPS)
• Mineral Wool
• Others

By Application
• Industrial Buildings & Warehouses
• Cold Storage & Food Processing
• Commercial & Office Buildings
• Residential Buildings
• Agricultural Structures

By Skin Material
• Steel
• Aluminum
• Others

By Region
• North America
• Europe (largest market)
• Asia-Pacific (fastest growing)
• Latin America
• Middle East & Africa

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• In-depth market analysis & forecast to 2035
• Detailed insights into competitive landscape
• Supply chain & material pricing trends
• Emerging applications in prefab & modular sectors
• Strategic recommendations for stakeholders and investors

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Conclusion

The Sandwich Panels Market is poised for strong growth fueled by increasing investment in industrial facilities, cold chains, logistics hubs, and sustainable building projects. As rapid urbanization and industrial development accelerate construction timelines, demand for lightweight, cost-efficient, and energy-efficient building systems will continue to surge.

Manufacturers that focus on innovative insulation materials, greener manufacturing, and modular construction solutions will be well-positioned to capitalize on emerging opportunities and maintain a competitive edge in this expanding market.

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