The global sandwich panel market size was valued at USD 9.91 billion in 2023 and is projected to grow from USD 10.70 billion in 2024 to USD 20.51 billion by 2032, exhibiting a CAGR of 8.4% during the forecast period. Sandwich panels are mainly used in the construction sector as a modern building material to offer structural stability and efficiency. It is used by binding a combination of a wide range of composite materials. The demand for fast construction is growing at a robust pace for various applications, such as cold storage, residential complexes, and commercial buildings. This will positively impact the sandwich panel market growth.
Fortune Business Insights™ displays this information in a report titled, "Sandwich Panel Market, 2025-2032."
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Segmentation:
Polyurethane to Gain Traction for Their Attractive Properties
Based on type, the market is segmented into polystyrene, polyurethane, mineral wool, and others. The polyurethane segment held a dominant market share in 2022 as it has several attractive features, such as strong resistance to corrosion, lightweight, cost-effectiveness, and high density.
Rising Non-Residential Construction to Boost Demand for Steel-based Outer Materials
Based on outer material, the market is segmented into steel, aluminum, and others. The steel segment is set to dominate the market during the forecast period as non-residential construction is on the rise across the world. Steel has several important properties, such as affordability and high fire resistance, further boosting its demand.
Product Demand to Rise across Non-Residential Applications Due to High Demand from Cold Storage Facility
Based on application, the market is segmented into residential and non-residential. The non-residential segment is expected to capture the largest share of the global market as the demand for cold storage facilities is rising from many industries. These panels can protect the heat of products stored in cold storage, accelerating their demand among end-users.
List of the Key Players in the Sandwich Panel Market: