The steel sandwich panel market size was valued at US$ 1.08 billion in 2024 and is expected to reach US$ 1.71 billion by 2031; it is estimated to register a CAGR of 6.7% from 2025 to 2031.

The growing acceptance of prefabricated and modular building practices is a key influencer in the steel sandwich panel sector. The construction industry is increasingly transitioning to quicker, cost-effective, and more sustainable building methods that incorporate materials and systems supporting these ideals. Steel sandwich panels are particularly useful within prefabricated construction applications as they are lightweight, have a high strength-to-weight ratio, and allow for straightforward installation. The presence of a sandwich panel permits rapid construction assembly and reduces labor requirements, both of which are advantages for the off-site modular construction process. Steel sandwich panels provide exceptional thermal performance and durability, thereby enabling versatility for a variety of modular applications in residential, commercial, site kancel, and temporary pandemic shelter uses. Municipal expansion alongside labor pool shortages in the construction sector will continue to stimulate opportunities for modular solutions worldwide; the steel sandwich panel sector is poised to benefit in particular geographic locations focused on affordable housing, disaster-relief infrastructure, and energy performance building technologies.

The steel sandwich panel market analysis has been performed by considering the following segments: core material, application, and end use. Based on the core material, the steel sandwich panel market is bifurcated into polyisocyanurate (PIR) and mineral wool. The polyisocyanurate (PIR) segment will register a significant CAGR during 2025-2031. In terms of application, the steel sandwich panel market is segmented into wall panels, roof panels, and others. The wall panels segment held a significant share of the steel sandwich panel market in 2024. The steel sandwich panel market is segmented by end use into residential, commercial, industrial, institutional, and infrastructure. The industrial segment is expected to register a significant CAGR during 2025-2031.

The steel sandwich panel market is segmented by end use into residential, commercial, industrial, institutional, and infrastructure. The industrial segment is expected to register a significant CAGR during 2025-2031. Steel sandwich panels, with insulated cores like polyisocyanurate (PIR) or mineral wool, are widely used in warehouses, factories, logistics centers, and manufacturing facilities due to their excellent thermal insulation, structural integrity, and rapid installation. These panels support large-scale industrial projects by offering fire resistance, soundproofing, and low maintenance, making them ideal for harsh operational environments. The segment's growth is fueled by global industrialization, particularly in emerging economies, and the shift toward sustainable, prefabricated construction. Advancements in panel technologies, such as enhanced insulation and modular designs, further drive adoption. The industrial segment's robust expansion reflects its critical role in meeting the construction needs of expanding industrial infrastructure worldwide.

Asia Pacific is estimated to register the fastest CAGR in the global steel sandwich panel market from 2025 to 2031, driven by rapid urbanization and booming construction activities. Countries like China, India, and Australia are witnessing increased demand for energy-efficient building materials, particularly for industrial warehouses, commercial complexes, and residential developments. The expansion of prefabricated construction has improved access to cost-effective solutions, while awareness of sustainable practices fuels the adoption of insulated panels. Steel sandwich panels with cores like PIR and mineral wool are gaining traction, aligning with green building trends and stringent energy codes. Despite regulatory challenges in supply chains, the region's surging infrastructure investments ensure robust market potential. With a projected CAGR exceeding 6%, Asia Pacific's growth reflects its pivotal role in global construction expansion, supported by government initiatives for affordable housing and industrial parks.

Some of the key players operating in the global steel sandwich panel market include ArcelorMittal SA, Kingspan Group Plc, ISOPAN, Balex-Metal, Tata Steel Ltd, Assan Panel A.?., ARPANEL, PANELTECH SP. Z O.O, Metecno, ACH Panels, EuroPanels Sp. z o.o., GRUPO HIEMESA S.L, RWD Sandwich Panels S.r.l., IRMALEX, and Izopanel sp. z o.o. Players operating in the steel sandwich panel market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.

The overall global steel sandwich panel market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the steel sandwich panel market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the steel sandwich panel market.