|
Forecast Period
|
2026-2030
|
|
Market Size (2024)
|
USD 0.89 Billion
|
|
Market Size (2030)
|
USD 1.56 Billion
|
|
CAGR (2025-2030)
|
9.65%
|
|
Fastest Growing Segment
|
Aluminum
|
|
Largest Market
|
China
|
Market Overview
Asia-Pacific
Sandwich Panels Market
was valued at USD 0.89 Billion in 2024 and is expected to reach USD 1.56 Billion
by 2030 with a CAGR of 9.65% during the forecast period.
The Asia-Pacific sandwich
panels market refers to the industry involved in the production, distribution,
and installation of composite building materials composed of a core insulating
layer—typically made from polyurethane, polystyrene, or mineral wool—sandwiched
between two outer metal sheets, often steel or aluminum. These panels are
widely used in the construction of industrial buildings, warehouses, cold
storage units, commercial complexes, and increasingly in residential structures
due to their superior insulation, lightweight properties, and ease of
installation.
This market is gaining
traction across the Asia-Pacific region due to several interconnected factors.
Firstly, rapid urbanization and industrialization in emerging economies such as
India, China, Vietnam, and Indonesia are generating strong demand for quick-to-build,
cost-effective, and thermally efficient building materials. Sandwich panels, by
reducing construction time and labor costs, align perfectly with these demands.
Secondly, there is growing awareness and regulatory pressure concerning energy
efficiency and environmental sustainability. Sandwich panels help reduce energy
consumption in buildings by enhancing insulation, which supports national and
regional goals for carbon footprint reduction.
Additionally, technological
advancements in panel manufacturing—such as improvements in fire resistance,
soundproofing, and design flexibility—are further encouraging adoption. The
expansion of the logistics and cold chain industries, especially in response to
the e-commerce boom and pharmaceutical sector growth, is also fueling demand
for high-performance insulated structures, driving the use of sandwich panels
in cold storage and transport facilities.
Furthermore, government
investments in infrastructure development and construction-friendly policies
across the Asia-Pacific region are facilitating the entry of both domestic and
international players into this market, enhancing competition and innovation.
Rising construction activities in smart cities, special economic zones, and
industrial corridors are further contributing to the momentum.
Key Market Drivers
Rapid Urbanization and Infrastructure Development
The Asia-Pacific region is experiencing rapid
urbanization, particularly in countries like China and India, which are driving
significant growth. This urban expansion requires the development of extensive
residential, commercial, and industrial infrastructures to accommodate the
increasing population and economic activities. Sandwich panels are gaining
popularity in construction projects due to their excellent thermal insulation,
durability, and ease of installation.
These panels are ideal for meeting the growing
demand for energy-efficient buildings while adhering to tight project
deadlines. With their ability to provide effective thermal performance, they
play a crucial role in reducing energy consumption in both residential and
commercial spaces. Additionally, as infrastructure projects such as
transportation networks and smart cities continue to rise across the region,
the need for high-quality, sustainable building materials like sandwich panels
grows.
The versatility and efficiency of sandwich panels
make them an attractive choice for developers seeking to deliver projects on
time, while ensuring compliance with energy efficiency standards and
sustainability goals. As urbanization progresses in the Asia-Pacific region,
sandwich panels are expected to play an increasingly vital role in shaping the
future of construction, contributing to the development of modern,
energy-efficient, and sustainable infrastructures.
As of the end of 2023, China's urbanization rate
was 66.16%, and it is projected to reach nearly 70% within the next five years
Emphasis on
Energy Efficiency and Sustainable Construction
As environmental concerns intensify, there is an
increasing focus on developing energy-efficient and sustainable buildings.
Sandwich panels play a pivotal role in achieving these objectives by offering
superior thermal insulation. This property significantly reduces the reliance
on artificial heating and cooling systems, which in turn lowers overall energy
consumption. Sandwich panels are designed to enhance building performance by
maintaining more stable internal temperatures, contributing to more sustainable
and cost-effective structures.
Governments throughout the Asia-Pacific region are
actively supporting the transition to greener building practices through
stringent energy codes and providing incentives to encourage the adoption of
energy-efficient materials. These regulatory measures are fostering a favorable
environment for the widespread use of sandwich panels in construction projects.
The push for greener buildings, combined with the
inherent advantages of sandwich panels, positions these materials as a key
solution in the ongoing effort to reduce energy consumption and carbon
footprints in the region. Consequently, sandwich panels are increasingly being
integrated into residential, commercial, and industrial developments,
solidifying their role in the region's sustainable construction landscape.
Investment in Asia-Pacific cold storage real estate
is expected to surpass USD 2 billion by 2030, up from USD 948 million in 2021,
as investors seek to capitalize on the growing demand for specialized
facilities
Expansion of Cold Storage and Logistics Sectors
The growing prominence of
e-commerce, the increasing demand from the pharmaceutical industry, and the
need for effective food preservation are key factors driving the expansion of
cold storage infrastructure across the Asia-Pacific region. As temperature-sensitive
goods such as perishable foods, vaccines, and biopharmaceuticals become more
prevalent in supply chains, the importance of maintaining consistent and
controlled environmental conditions has surged. Sandwich panels have emerged as
a critical component in the construction of these cold storage facilities due
to their superior thermal insulation properties, which help in maintaining
stable internal temperatures while optimizing energy consumption.
These panels, often
composed of insulating cores such as polyurethane or mineral wool,
significantly reduce heat transfer and ensure operational efficiency, making
them ideal for refrigeration and cold chain environments. Furthermore, the rise
in international and domestic trade of perishable goods has intensified the
demand for efficient and scalable logistics networks. As a result, businesses
and governments alike are investing in advanced cold storage solutions to
support growing volumes and to comply with stringent safety and hygiene
standards. This ongoing development continues to fuel the adoption of sandwich
panels, reinforcing their position as an essential material in the expansion of
cold chain logistics and temperature-controlled infrastructure throughout the
Asia-Pacific region.
India plans to invest INR 21,000 crore
(approximately USD 2.53 billion) over the next 4-5 years to establish or
upgrade cold storage facilities, highlighting the significant investment in
infrastructure that utilizes sandwich panels.
Technological Advancements in Panel Manufacturing
Recent advancements in
manufacturing technologies have significantly enhanced the performance and
appeal of sandwich panels in the construction sector. Manufacturers are now
able to produce sandwich panels with superior attributes such as heightened
fire resistance, enhanced acoustic insulation, and greater environmental
sustainability. These improvements are largely driven by the integration of
advanced core materials, including polyurethane, mineral wool, and expanded
polystyrene, which offer unique benefits tailored to various building
requirements.
The adoption of these
advanced materials allows for better thermal regulation, noise control, and
safety in both residential and commercial construction projects. As a result,
sandwich panels are no longer confined to industrial use but are increasingly being
incorporated into a broader array of applications, including high-rise
buildings, healthcare facilities, and educational institutions. These panels
also contribute to energy efficiency goals by reducing the need for external
insulation and helping maintain indoor climate control, thereby lowering
overall energy consumption.
Furthermore, the shift
toward eco-friendly construction has increased the demand for materials that
meet green building standards. The ability of modern sandwich panels to combine
structural strength with sustainability features makes them an ideal choice for
future-ready infrastructure. As innovation in manufacturing continues, the role
of sandwich panels in shaping the next generation of buildings in the
Asia-Pacific region is set to expand even further.
In June 2024, Tata Steel Limited announced a USD
13.01 million investment in its Corby tube-making works, aiming to develop a
logistics hub featuring over 18,000 m² of Trisomet insulated panels for faster
installation and enhanced performance
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Key Market Challenges
High Initial Costs and
Investment in Sandwich Panels
Despite the significant
long-term benefits of using sandwich panels in construction, their initial
investment remains a key challenge. Sandwich panels often come with higher
upfront costs compared to traditional building materials such as concrete or
steel. This cost disparity is primarily due to the advanced materials and
manufacturing processes involved in producing sandwich panels, which are designed
to provide superior insulation and durability. For construction companies and
developers, especially in emerging markets within the Asia-Pacific region, the
higher initial costs can be a deterrent.
In many cases, smaller or
budget-conscious construction projects may opt for cheaper materials, bypassing
the long-term energy efficiency benefits of sandwich panels. Additionally, the
cost of transportation and installation, especially for large-scale projects,
can add to the overall expense. Although the energy savings and reduced
maintenance costs of sandwich panels can offset the initial cost over time,
many stakeholders, particularly in developing markets, are reluctant to make
the significant upfront investment.
This challenge can be
mitigated by greater awareness of the long-term savings associated with energy
efficiency, as well as government incentives or subsidies to offset the cost of
purchasing and installing sandwich panels. However, until these financial
obstacles are addressed comprehensively, the high initial cost of sandwich
panels will remain a significant challenge in the region.
Limited Awareness and
Adoption of Sandwich Panels
Another significant
challenge in the Asia-Pacific region is the limited awareness and adoption of
sandwich panels in the construction industry. Despite their many benefits,
including superior thermal insulation, fire resistance, and environmental
sustainability, many construction companies are still unfamiliar with the
advantages of using sandwich panels over traditional materials. This is
especially prevalent in smaller markets and regions with a history of relying
on conventional building methods.
In some parts of the
Asia-Pacific region, such as rural areas or developing nations, the
construction industry is often slow to adopt newer technologies due to a lack
of understanding, training, and expertise. Contractors may also prefer
traditional materials because they are more familiar or readily available.
Additionally, there are challenges in terms of the limited availability of
skilled labor to properly install sandwich panels, which requires specific
expertise to ensure optimal performance.
Furthermore, while large
cities in countries such as China, India, and Japan may be more open to new
materials, smaller towns or regions that focus on cost-effective solutions
might be slower to adopt sandwich panels, despite the long-term cost savings they
offer. Overcoming this challenge will require substantial efforts in raising
awareness, providing training for professionals, and ensuring that the benefits
of sandwich panels are effectively communicated to potential users. Increased
collaboration between manufacturers, governments, and industry leaders will be
crucial in promoting the widespread adoption of sandwich panels across the
region.
Key Market Trends
Growing Demand for
Energy-Efficient Construction Solutions
The increasing emphasis on
energy-efficient building materials has become one of the defining trends in
the Asia-Pacific sandwich panels market. Governments in the region are
implementing stricter energy efficiency standards and offering incentives for
green construction practices. Sandwich panels, known for their excellent
thermal insulation properties, play a crucial role in meeting these energy
efficiency targets. These panels are designed to minimize energy consumption by
reducing the need for artificial heating and cooling, making them ideal for
both residential and commercial buildings.
As construction companies
and developers seek to comply with energy efficiency regulations, sandwich
panels have become a popular choice due to their ability to provide high
thermal insulation, which helps in regulating indoor temperatures. Moreover,
the adoption of sandwich panels is expected to rise as the demand for
low-energy buildings grows. These materials significantly reduce energy
consumption over the lifetime of a building, resulting in long-term cost
savings for building owners.
In countries like China,
India, and Japan, the push for sustainable development and environmentally
friendly building materials is gaining momentum. The demand for
energy-efficient buildings is driven by both regulatory pressures and the
growing awareness of the environmental impact of traditional construction
methods. Consequently, sandwich panels, with their superior insulation and
energy-saving qualities, are increasingly being integrated into the
construction of residential, commercial, and industrial buildings across the
region.
Rise in Prefabricated and
Modular Construction
The rise of prefabricated
and modular construction methods is another major trend shaping the
Asia-Pacific sandwich panels market. Prefabrication allows for quicker
construction timelines, cost efficiency, and high-quality control by assembling
components in a controlled environment before transporting them to the
construction site. Sandwich panels, with their lightweight yet durable
structure, fit perfectly into this model, providing an efficient and reliable
building solution.
This trend is particularly
prominent in rapidly urbanizing countries such as China and India, where there
is a strong demand for quick and scalable infrastructure development.
Prefabricated sandwich panels are especially suited for these markets due to their
ease of transportation, simple installation process, and high
strength-to-weight ratio. This trend is also being driven by the increasing
need for fast-track construction in the commercial and residential sectors, as
well as the rising popularity of modular housing solutions in the region.
Moreover, prefabrication
has gained further traction in the industrial construction sector, where
sandwich panels are used for building warehouses, factories, and storage
facilities. The modular construction method allows for the efficient use of
materials and significantly reduces the time spent on-site, which is a key
consideration in the region's growing demand for rapid infrastructure
development. As the trend toward prefabrication and modular construction
continues to evolve, the sandwich panels market is expected to benefit from
increased adoption in both residential and commercial sectors.
Growing Use in Cold Storage
and Refrigerated Warehousing
The growing demand for cold
storage facilities in the Asia-Pacific region has become a significant trend
influencing the sandwich panels market. The rise in e-commerce,
pharmaceuticals, and the food industry, particularly the need for refrigerated
goods and temperature-sensitive products, has led to a surge in demand for cold
storage and refrigerated warehousing. Sandwich panels, with their superior
thermal insulation properties, are highly effective in maintaining controlled
temperatures within cold storage facilities, making them an essential component
for these applications.
In countries like India,
China, and Malaysia, the increasing trade in perishable goods and the expanding
food and pharmaceutical sectors are directly contributing to the growth of cold
storage facilities. The Asia-Pacific region, which is home to a large portion
of the world’s population, has seen rapid urbanization and an increase in the
consumption of fresh food and pharmaceutical products. This, in turn, has
created a growing need for efficient and energy-saving cold storage solutions.
Sandwich panels, which help minimize heat loss and reduce energy consumption,
are the ideal choice for cold storage construction.
Furthermore, as the
logistics and supply chain industries in the Asia-Pacific region evolve, the
demand for temperature-controlled warehouses is expected to rise. Cold storage
facilities need to maintain precise temperature controls to preserve product quality
and ensure regulatory compliance. As a result, sandwich panels will continue to
play a pivotal role in the development of the cold storage sector, facilitating
more sustainable and energy-efficient solutions across the region.
Segmental Insights
Material Insights
Among the various materials used in sandwich
panels, polyurethane was expected to dominate the Asia-Pacific sandwich panels
market in 2024 and maintain its dominance during the forecast period.
Polyurethane is favored for its exceptional thermal insulation properties,
offering superior energy efficiency and fire resistance compared to other
materials. The demand for energy-efficient building materials is growing
rapidly in the region, driven by government regulations, building standards,
and increasing environmental awareness.
Polyurethane sandwich panels help reduce energy
consumption by minimizing heat loss or gain, making them highly suitable for
use in commercial, residential, and industrial buildings. These panels are also
lightweight yet durable, which adds to their popularity in construction
projects that require ease of handling and quick installation. Additionally,
polyurethane panels are cost-effective, which appeals to developers looking for
affordable yet high-performance materials. As urbanization and infrastructure development
continue at a rapid pace in countries like China, India, and Japan, the need
for energy-efficient solutions remains strong, further bolstering the demand
for polyurethane-based sandwich panels.
Polyurethane’s versatility and superior insulation
performance are key reasons for its dominance in the market, particularly in
projects where sustainability and energy efficiency are top priorities. With
ongoing advancements in material technology, the demand for polyurethane
sandwich panels is projected to continue growing, solidifying its leadership
position in the Asia-Pacific sandwich panels market during the forecast period.
End-Use Industry Insights
Among the various end-use industries in the
Asia-Pacific sandwich panels market, the commercial segment was expected to
dominate in 2024 and maintain its dominance throughout the forecast period. The
growing demand for energy-efficient and cost-effective building materials in
the commercial construction sector is a key driver for this trend. As
urbanization accelerates across the region, countries such as China and India
are witnessing a surge in commercial real estate developments, including office
buildings, retail centers, and hospitality establishments.
Sandwich panels, particularly for their superior
thermal insulation properties and ease of installation, are becoming
increasingly popular in these commercial projects. They offer significant
advantages, including reduced energy consumption for heating and cooling, which
aligns with the region’s growing emphasis on sustainability and energy
efficiency in construction. Additionally, the commercial sector is heavily
influenced by building codes and government policies that promote
environmentally friendly building practices, further boosting the adoption of
sandwich panels.
The demand for faster construction times and lower
labor costs also contributes to the growing use of sandwich panels, as they
facilitate quicker assembly compared to traditional building materials. With
the rise in commercial construction activities and an increased focus on energy
efficiency, the commercial segment is expected to continue leading the
Asia-Pacific sandwich panels market in the coming years. The segment’s growth
is also driven by the continuous technological advancements in material performance,
which make sandwich panels an increasingly attractive choice for a wide range
of commercial applications.
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Country Insights
Largest Country
In 2024, China was expected to dominate the
Asia-Pacific sandwich panels market and maintain its leadership throughout the
forecast period. As the most populous country and the world’s second-largest
economy, China is undergoing rapid urbanization and extensive infrastructure
development. This growth is driving significant demand for building materials,
including sandwich panels, in both residential and commercial construction
projects. The country’s commitment to sustainable development and energy efficiency
has spurred the adoption of energy-efficient building solutions, where sandwich
panels, known for their superior thermal insulation properties, have become a
preferred choice.
Additionally, China’s ambitious plans for green
building initiatives and the construction of smart cities further boost the
demand for sandwich panels, as these materials meet the growing need for
sustainable and cost-effective solutions in the construction sector. The
country’s strong manufacturing capabilities, coupled with government incentives
for environmentally friendly construction practices, provide an ideal
environment for the growth of the sandwich panels market.
Furthermore, as the construction industry in China
continues to expand rapidly, especially in urban areas and for large-scale
infrastructure projects, the demand for sandwich panels is expected to remain
robust. With ongoing developments in transportation networks, commercial
complexes, and residential buildings, China is poised to maintain its dominance
in the Asia-Pacific sandwich panels market throughout the forecast period. The
continued urban expansion and the increasing focus on sustainable construction
will ensure that China remains at the forefront of the region’s sandwich panels
market.
Emerging Country
In the forecast period, India was emerging as a key
region for the Asia-Pacific sandwich panels market. India’s rapid urbanization,
growing population, and strong government support for infrastructure
development are creating substantial demand for construction materials,
including sandwich panels. The country’s construction sector is witnessing
exponential growth, driven by large-scale projects such as smart cities,
industrial parks, commercial buildings, and residential complexes.
As the government continues to promote sustainable
construction practices through initiatives like the Smart Cities Mission and
the Atal Mission for Rejuvenation and Urban Transformation, there is an
increasing demand for energy-efficient and eco-friendly building materials.
Sandwich panels, known for their excellent thermal insulation properties and
ability to reduce energy consumption, are becoming a popular choice in India’s
growing construction industry. Additionally, the Indian government’s push for
green building certifications and incentives for using energy-efficient
materials further propels the demand for sandwich panels.
Moreover, India’s expanding cold storage sector,
driven by the increasing need for food preservation and pharmaceutical storage,
is another significant factor contributing to the growing adoption of sandwich
panels. The country’s strong focus on improving infrastructure in both urban
and rural areas, combined with the increasing trend towards energy-efficient
buildings, positions India as an emerging region in the Asia-Pacific sandwich
panels market during the forecast period. As a result, India is expected to
experience substantial growth in demand for sandwich panels, making it one of
the most promising regions for market expansion.
Recent Developments
- In October 2024, Kingspan Group launched
eco-friendly sandwich panels with enhanced insulation properties, aligning with
global sustainability goals. Tata Steel also introduced new sandwich panel
solutions tailored for industrial buildings, focusing on improving durability
and cost-efficiency. These innovations cater to the growing demand for
energy-efficient and sustainable building materials in the region.
- In May 2024, ArcelorMittal Construction India made its debut at
the Roof India 2024 exhibition, the largest roofing and allied products event
in Asia. This participation marked a significant milestone in the company's
dedication to the Indian market, showcasing strong interest in its sandwich
panels and profiles. The event provided an invaluable opportunity to connect
with potential customers and highlight the company's commitment to sustainable
building solutions.
- In March 2025, BASF's
commitment to innovation is evident in its 2024 research and development
investments, amounting to USD 2.3 billion. This stable investment underscores
the company's dedication to advancing technologies that support sustainable and
energy-efficient building practices
Key
Market Players
- Kingspan
Group
- ArcelorMittal
- Tata
Steel
- Metecno
- Isopan
- U.S.
Steel Corporation
- BASF
SE
- Jindal
Steel & Power Limited
|
By Material
|
By Skin Material
|
By End-Use Industry
|
By Country
|
- Polyurethane
- Polyisocyanurate
- Expanded
Polystyrene
- Mineral Wool
- Others
|
|
- Commercial
- Industrial
- Residential
- Cold Storage
|
- China
- Japan
- India
- South
Korea
- Australia
- Singapore
- Thailand
- Malaysia
- Rest of
Asia-Pacific
|
Report Scope:
In this report, the Asia-Pacific Sandwich Panels
Market has been segmented into the following categories, in addition to the
industry trends which have also been detailed below:
- Asia-Pacific Sandwich Panels
Market, By Material:
o Polyurethane
o Polyisocyanurate
o Expanded Polystyrene
o Mineral Wool
o Others
- Asia-Pacific Sandwich Panels
Market, By Skin Material:
o Steel
o Aluminum
o Others
- Asia-Pacific Sandwich Panels
Market, By End-Use Industry:
o Commercial
o Industrial
o Residential
o Cold Storage
- Asia-Pacific Sandwich Panels
Market, By Country:
o China
o Japan
o India
o South Korea
o Australia
o Singapore
o Thailand
o Malaysia
o Rest of Asia-Pacific
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Asia-Pacific Sandwich Panels Market.
Available Customizations:
Asia-Pacific Sandwich Panels Market report
with the given market data, TechSci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Asia-Pacific Sandwich Panels Market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]