Asia Pacific Sandwich Panel Market Size Insights Forecasts to 2032

• The Asia Pacific Sandwich Panel Market was valued at USD 4,281.3 Million in 2022.
• The Market is Growing at a CAGR of 5.9% from 2022 to 2032
• The Asia Pacific Sandwich Panel Market is expected to reach USD 5,699.1 Million by 2032

The Asia Pacific Sandwich Panel Market size was valued at USD 4,281.3 million in 2022. The Asia Pacific Sandwich Panel Market is projected to exceed USD 5,699.1 million by 2032, growing at a CAGR of 5.9% from 2022 to 2032. Due to the rapid growth of construction in countries such as China and India, there is a high demand for a wide range of building materials. Sandwich panels have proven to be an essential tool in the construction industry over the last few decades. The construction industry in the region is being driven by an increase in construction activities as a result of the region's growing population and rapidly expanding commercial sector.         

Market Overview

Sandwich panels, also known as composite panels, are made up of two outer layers (usually metal or other rigid materials) and a core material (typically foam, rock wool, or polyurethane) that provides insulation and structural support. Because of their excellent thermal insulation properties, durability, and ease of installation, these panels are widely used in the construction of commercial, industrial, and residential buildings. The Asia Pacific region encompasses a vast and diverse market that includes countries such as China, Japan, India, South Korea, Australia, and many others. The region's construction boom, driven by urbanization and infrastructure development, has increased demand for sandwich panels, which provide cost-effective solutions for energy-efficient and sustainable building envelopes. The need for energy-efficient buildings, stringent building codes and regulations, and a growing awareness of environmental sustainability are key drivers of the Asia Pacific sandwich panel market. Furthermore, technological advancements have resulted in the development of high-performance panels with improved fire resistance and acoustic insulation properties.

Report Coverage

This research report categorizes the market for Asia Pacific sandwich panel market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Asia Pacific sandwich panel market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Asia Pacific sandwich panel market.

Driving Factors

The Asia Pacific region is experiencing unprecedented urbanization, with millions of people migrating to cities. This urbanization drives the demand for residential, commercial, and industrial buildings, resulting in a significant demand for construction materials such as sandwich panels. Governments across Asia Pacific are implementing stringent energy efficiency standards and regulations for buildings. Sandwich panels, with their excellent insulation properties, help builders meet these requirements and reduce energy consumption, making them a preferred choice for construction.

Restraining Factors

Sandwich panels' relatively higher upfront costs compared to traditional construction materials are one of the primary barriers to their widespread adoption. This may deter budget-conscious builders and developers, particularly in emerging economies. The Asia Pacific region comprises diverse countries with varying economic conditions and construction practices. The fragmented market landscape makes it challenging for manufacturers to adapt their products to suit the specific needs and preferences of each market segment.

Market Segment 

The Asia Pacific Sandwich Panel Market share is segmented into material and skin material

• The polyurethane segment dominated for the largest share of the Asia Pacific sandwich panel market in 2022. 

The Asia Pacific sandwich panel market is divided by material into Polyurethane, Polyisocyanurate, Mineral Wool, Expanded Polystyrene (EPS) And Others. Among these, the polyurethane segment dominated for the largest share of the Asia Pacific sandwich panel market in 2022. Polyurethane sandwich panels are known for their excellent thermal insulation properties. They offer high structural strength and are often used in industrial, commercial, and cold storage applications. PUR panels are relatively lightweight and easy to install.

• The Continuous Fibre Reinforced Thermoplastics segment dominated the largest share of the Asia Pacific sandwich panel market in 2022.            

Based on the skin material, the Asia Pacific sandwich panel market is classified into Continuous Fibre Reinforced Thermoplastics (CFRT), Fibreglass Reinforced Panel (FRP), aluminium, steel and others. Among these, the Continuous Fibre Reinforced Thermoplastics segment dominated the largest share of the Asia Pacific sandwich panel market in 2022. CFRT sandwich panels are gaining popularity due to their exceptional strength-to-weight ratio, impact resistance, and durability.             

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Asia Pacific sandwich panel market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 

List of Key Companies

• Kingspan Group PLC
• Tata Steel
• Isopan
• ArcelorMittal
• Dana Groups of Companies
• Metalink
• Bondor
• BRDECO
• Roxul Rockwool
• TONMAT Group
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Asia Pacific Sandwich Panel Market based on the below-mentioned segments:

Asia Pacific Sandwich Panel Market, By Material

• Polyurethane
• Polyisocyanurate
• Mineral Wool
• Expanded Polystyrene (EPS)
• Others

Asia Pacific Sandwich Panel Market, By Skin Material

• Continuous Fibre Reinforced Thermoplastics (CFRT)
• Fibreglass Reinforced Panel (FRP)
• Aluminium
• Steel
• Others

Asia Pacific Sandwich Panel Market, By Technology

• Continuous
• Discontinuous