USD 1.8 Billion
Steel Sandwich Panels Market Size, Share, Growth Analysis, By Skin Material(Continuous Fibre Reinforced Thermoplastics (CFRT), Fiberglass Reinforced Panel (FRP), Aluminum, Steel and Others), By Application(Residential Buildings, Commercial Buildings, Agricultural Buildings and Cold Storage), By Type(PUR/PIR Sandwich Panels, PUR/PIR Sandwich Panels, Glass Wool, Rock Wool and Others), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15F2169 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
92
|Figures:
77
Steel Sandwich Panels Market Insights
Steel Sandwich Panels Market size was valued at USD 1.95 Billion in 2023 and is poised to grow from USD 2.12 Billion in 2024 to USD 4.2 Billion by 2032, growing at a CAGR of 8.85% during the forecast period (2025-2032).
Sandwich panels with steel sheathed outer and inner parts, with thermal insulation, are widely accepted in the construction industry. Sandwich panels are multi-layered structures with different mechanical properties for each layer. Increased awareness on energy efficient buildings, improved thermal performance of sandwich panels, implementation of stringent regulations towards energy conservation drives the global steel sandwich panel market to grow but strategies costly implementation increases the cost of production, volatility in raw material prices hinders the resulting market growth.
The construction industry plays an important role in the demand for steel sandwich panels. These tiles are widely used in commercial, industrial and residential projects due to their light weight, durability, insulation properties and ease of installation. Advances in construction in emerging countries are increasing the demand for steel sandwich panels for roofing, wall covering and insulation applications. Strict energy efficiency regulations and global sustainability programs contribute to the demand for steel sandwich panels. These trees reduce heating and cooling costs in buildings. Governments and regulatory agencies encourage the adoption of energy-efficient building materials through incentives, tax breaks and building codes, which enhance market growth. These panels are used for structural support, thermal insulation and weather resistance in the construction of industrial buildings, warehouses, cold storage units and infrastructure projects.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Residential Buildings
Fastest Growth
Agricultural Buildings
Growth Rate
8.85% CAGR
Global Steel Sandwich Panels Market ($ Bn)
Country Share for North America Region (%)
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Steel Sandwich Panels Market Segmental Analysis
The steel sandwich panels market segmentation, based on skin material, includes continuous fibre reinforced thermoplastics (CFRT), fiberglass reinforced panel (FRP), aluminum, steel and others. The steel sandwich panels market segmentation, based on application, includes residential buildings, commercial buildings, agricultural buildings and cold storage. The steel sandwich panels segmentation, based on type includes PUR/PIR sandwich panels, glass wool, rock wool and others. By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World.
Steel Sandwich Panels Market Analysis by Type
Glass wool dominated the market. Glass leather in sandwich panels is a common type of insulation used worldwide. Sandwich panels are a composite construction consisting of basic materials to make them strong and insulating, two thin and strong front panels, and other materials. After cooling and cooling applications, they are sandwiched with these panels that play a major role in residential, commercial and industrial construction. Sandwich panels made of fiberglass wool are well known for their excellent insulation and low-conductivity properties that prevent heat loss and enhance energy efficiency, making it suitable for indoor use in cold climates.
Rock wool is the fastest growing segment which plays an important role in the global steel sandwich panels market, especially in the construction industry. Steel sandwich panels are composite building materials consisting of three layers: a double outer steel layer and an insulated inner layer. Rock leather is often used as an insulation material in these frames. Stone leather has excellent thermal insulation properties, making it an ideal material for steel sandwich panel cores. It helps to reduce the heat transfer between the interfaces, contributing to the energy efficiency of buildings. Stone wool is non-combustible and can withstand high temperatures. This property increases the fire resistance of steel sandwich panels. In the event of a fire, the leather stone acts as a barrier, preventing the spread of flames and contributing to the fire safety of the entire structure.
Steel Sandwich Panels Market Analysis by Application
Residential buildings are the dominating segment in the market. Due to their ease of use, metal sandwich panels such as polyurethane, fiberglass wool, strength and mineral wool are widely used in a variety of applications, such as building wall and roof insulation, interior and exterior decoration, sound and heat insulation etc. Worldwide arises in residential construction.
The agricultural buildings sector is an important and growing global steel sandwich panels market and the fastest growing segment. Steel sandwich panels offer various benefits to agricultural structures, providing a sustainable and efficient solution for the various structures on the farm. Agricultural buildings often need to be constructed quickly and cost-effectively. Steel sandwich panels facilitate quick fabrication due to their prefabrication. This helps farmers and agricultural workers save time and money during production.
Global Steel Sandwich Panels Market By Application (%)
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Steel Sandwich Panels Market Regional Insights
North America is the dominating region in the market. There has been remarkable growth in construction in North America. End-users use modular building materials to build small houses. The progress being made by governments to establish cold storage facilities and storage facilities will drive the demand for the product in the forecast time frame. Moreover, the European market is expected to grow well during the forecast period. The increasing research and innovation for lightweight building materials is attributed to the growing demand for modular structures from consumers.
The Asia-Pacific is estimated to grow at the highest CAGR during the forecast period (2024-2031). This growth is due to increasing research activities, increasing product requirements, expansion initiatives within APAC by increasing number of market players, and high adoption of steel sandwich panels in APAC countries in many cases. Other factors driving the growth of the global steel sandwich panels market are the development of marketing research tools, existing players firmly established in the market. Furthermore, government agencies, companies, third parties' managers etc. have put their efforts towards customer-centric policies. Rising demand for restaurants and even agricultural or industrial buildings and bridges, heavy government investments, new and improved technologies and machinery, and improved marketing strategies may fuel the steel sandwich panel market has made great strides.
Global Steel Sandwich Panels Market By Geography
- Largest
- Fastest
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Steel Sandwich Panels Market Dynamics
Steel Sandwich Panels Market Drivers
Rising Investments in Energy-efficient Buildings
- Greater investment in energy-efficient buildings will lead to greater growth. Other factors driving the growth of the global steel sandwich panels market are the development of marketing research tools, existing players firmly established in the market. Furthermore, government agencies, companies, third parties' managers etc. have put their efforts towards customer-centric policies.
Rising Expansion of the Infrastructure Sector
- The growth of the global steel sandwich panels market is primarily driven by the expansion of the infrastructure sector in developing economies. Rehabilitation and new construction are estimated to contribute significantly to commercial and residential construction. Furthermore, it has been decided that a simple and fast solution is needed to boost the growth of the global steel sandwich panels market during the forecast period. The consumer trend towards better-integrated building solutions with lower carbon footprint, coupled with reduced life cycle costs, is expected to see greater adoption of sandwich panels in the coming years. Furthermore, cost-effectiveness and sustainable characteristics of steel sandwich panels. Due to these reasons, the market is expected to see a potential demand in rural areas.
Steel Sandwich Panels Market Restraints
High Start-up Costs
- Initially, the cost of steel sandwich panels, including materials and installation, can be relatively high compared to conventional building materials. This can be a challenge for cash-strapped businesses or markets where cost is a major consideration.
Fluctuating Raw Material Prices
- Fluctuating raw material prices, especially steel, can affect the cost of manufacturing steel sandwich panels. Rapid changes in material costs can pose challenges for manufacturers in terms of pricing, profitability and supply chain management. Uncertainty in raw material prices may restrict investment and expansion plans in the market.
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Steel Sandwich Panels Market Competitive Landscape
The competitive environment of the Global Steel Sandwich Panels Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The quantitative and qualitative analysis of the Steel Sandwich Panel market in the report also gives the competitive landscape. The report also provides detailed insights into the growth strategies employed by the key market players. The report provides complete information about all the key players in the industry based on the company overview, company market share, recent developments, business strategy, etc. The report also provides factors a designed in detail with each company description/details provided. The report also contains useful suggestions for established and new players from all over the world.
Steel Sandwich Panels Market Top Player’s Company Profiles
- GCS
- Zhongjie Group
- AlShahin
- Nucor Building Systems
- Tonmat
- Marcegaglia
- Italpannelli
- Alubel
- Changzhou Jingxue
- Ruukki
- Balex
- Hoesch
- Dana Group
- Multicolor
- Zamil Vietnam
- BCOMS
- Pioneer India
- Panelco
Steel Sandwich Panels Market Recent Developments
- October 2022: Kingspan acquires Invespan, which makes sandwich panels made of mineral wool. Invespanel’s strategic acquisition in Kingspan will provide opportunities to complement their product offerings in sandwich panels for a range of applications.
- November 2021: Industrial Engineering Company for Construction Development (ICON) receives a proposal from Kingspan Insulated Panel seeking to collaborate in the manufacture of sandwich panels.
- September 2021: L&L Products installs a new FST aircraft with the inner edge and core filler complex. L&L Reinforce L-9060 offers an innovative approach to filling and reinforcing in-space sandwich panels by providing a solution to improve the traditional craftsmanship of other two-dimensional honeycomb panel strengths.
Steel Sandwich Panels Key Market Trends
Increasing Emphasis on Sustainability and Energy Efficiency in Construction Projects
- Steel sandwich panels are preferred for their insulating properties, which help reduce heating and cooling costs in buildings. As environmental concerns increase and regulations become more stringent, the demand for building materials that help save energy and sustainable construction practices increases Steel sandwich panels meet these needs through materials highly protective lifting, resulting in reduced energy consumption over the life of the buildings and carbon emissions.
Steel Sandwich Panels Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global steel sandwich panel market is driven by factors such as growth in the construction industry, stringent energy efficiency regulations, and rapid industrialization and urbanization. These panels are preferred for lightweight, durable nature, insulation strength and ease of installation suitable for a wide range of applications in construction, industrial, commercial and industrial. However, the market faces constraints such as fluctuating raw material prices, high initial investment and competition from new sources. Fluctuating steel prices can affect production costs, while money size requirements for production can deter new entrants. Despite these challenges, technological advances, such as improved manufacturing processes and materials science present opportunities for market growth and innovation. Furthermore, sustainable manufacturing and energy consumption are expected to be built greater emphasis on efficiency will drive the adoption of steel sandwich panels in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.8 Billion |
| Market size value in 2031 | USD 3.86 Billion |
| Growth Rate | 8.85% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Steel Sandwich Panels Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Steel Sandwich Panels Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Steel Sandwich Panels Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Steel Sandwich Panels Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Steel Sandwich Panels Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Steel Sandwich Panels Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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