Thailand Sandwich Panel Materials Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The Thailand sandwich panel materials market size is projected to reach US$ 49.06 million by 2031 from US$ 38.03 million in 2024. The market is expected to register a CAGR of 3.9% from 2025 to 2031. The development of fire-resistant sandwich panels is likely to remain a key trend in the Thailand sandwich panel materials market.

Thailand Sandwich Panel Materials Market Analysis

The government initiatives to improve food safety and reduce post-harvest losses contribute to the adoption of advanced cold storage solutions. The need for better food security, the growing export markets in Thailand, and the growing applications of sandwich panels in cold storage facilities drive the Thailand sandwich panel materials market growth. The proliferating construction industry is expected to provide substantial growth opportunities for the Thailand sandwich panel materials market growth during the forecast period. Rapid urbanization across the country increases the need for efficient, cost-effective, and durable construction materials. To meet these demands, sandwich panels with superior thermal insulation, fire resistance, and lightweight properties are used. Their use in building modern infrastructure, including commercial buildings, residential complexes, and industrial facilities, is likely to increase significantly. According to YCP Holding’s Solidiance's report, Thailand's construction sector can take advantage of the government's massive plan to develop many economic-focused areas, which can potentially create demand for construction materials. This offers Thailand's construction players opportunities and adjusts their specialties accordingly. The advancement of the Great Mekong Sub-region (GMS) Economic Corridors presents a significant opportunity for Thailand's construction industry. With the backing of the ASEAN Development Bank (ADB), the creation of economic zones across nations traversed by the Mekong River is set to catalyze the development of critical transportation infrastructure and communication networks in the coming years.

Thailand Sandwich Panel Materials Market Overview

In Thailand, sandwich panel materials have gained significant traction in the construction industry owing to their exceptional thermal insulation. They exhibit superior durability and strength, as well as are lightweight and versatile. Sandwich panels also contribute to reducing the carbon footprint. Their insulation properties save energy, thereby aligning construction practices with sustainability goals. These advantages have promoted their adoption in residential, commercial, industrial, and institutional building projects. They are highly used in warehouses, industrial sheds, cold storage facilities, clean rooms, laboratories, office buildings, and fire-safe enclosures in Thailand.

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Thailand Sandwich Panel Materials Market: Strategic Insights

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Thailand Sandwich Panel Materials Market Drivers and Opportunities

Increasing Demand for Polyurethane-Based Sandwich Panels

Thailand is undergoing rapid urbanization and infrastructure development, leading to an increased need for advanced building materials that offer efficiency and durability. Polyurethane (PU)-based panels have emerged as a preferred choice among builders and contractors owing to their superior thermal insulation, lightweight properties, and versatility in various construction applications. In addition, the versatility of PU panels in various construction applications, including roofing, wall cladding, and cold storage facilities, is driving their demand in the country. Polyurethane sandwich panels are particularly suitable for buildings that require fire-resistant structures and have varied applications in large industrial plants, garages, mobile houses, exhibition halls, gymnasiums, shopping centers, airports, power plants, hospitals, strata, and high-rise office buildings. These panels are easy to install and offer long-term performance with minimal maintenance. The growing emphasis on modernizing the construction sector in Thailand, coupled with the rising awareness of the benefits of energy-efficient materials, is accelerating the adoption of PU-based composite panels. Additionally, Thailand marks the presence of many domestic sandwich panel suppliers such as Metecno Pannelli Co Ltd, FATEK Works Co Ltd, RICCO, Prowall (Thailand) Co Ltd, Thai Syncon and Supplies Co Limited, and Kitti Manufacturing Company Limited. Therefore, the increasing demand for polyurethane-based sandwich panels fuels the growth of the Thailand sandwich panel materials market.

Proliferating Construction Industry

One of Thailand’s most ambitious initiatives is the development of the Eastern Economic Corridor, extending from Pattaya to Rayong. This strategic project is designed to drive national economic expansion, positioning Thailand as ASEAN's leading economic zone for industrial, infrastructure, and urban development. The initiative envisions the establishment of diverse industries, including automotive, electronics, digital technologies, healthcare, biofuels, biochemicals, aviation, and logistics. The construction and substantial investment in key infrastructure—such as airports, seaports, and rail networks—will be pivotal in supporting these expansive economic zones. Governments and private investors are prioritizing sustainable and energy-efficient construction methods, which aligns well with the benefits offered by sandwich panels. Moreover, the growing preference for prefabricated and modular construction in Thailand, driven by the need for faster project completion and cost savings, will likely boost the demand for sandwich panel materials during the forecast period.

Thailand Sandwich Panel Materials Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Thailand sandwich panel materials market analysis are component, application, and end use.

• Based on component, the market is segmented into core material (polyurethane, polyisocyanurate, mineral wool, expanded polystyrene, and others) and skin material (polycarbonate, fiberglass reinforced panel, aluminum, steel, and others). The skin material segment held a larger share of the market in 2024.
• In terms of application, the market is segmented into skylight, façade, cladding, outdoor, and others. The outdoor segment held the largest share of the market in 2024.
• Based on end use, the market is segmented into residential, commercial, industrial, and institutional. The residential segment held the largest share of the market in 2024.

Thailand Sandwich Panel Materials Market Share Analysis by Geography

The geographical scope of the Thailand sandwich panel materials market report focuses on the market scenario in terms of historical market revenues and forecasts.

Thailand's residential sector has seen rapid economic development in the vicinity outside Bangkok, suggesting an expansion of the condominium market. In addition, after the government's approval of the Eastern Economic Corridor, the industrial sector and urban development are aiming at making Thailand ASEAN's leading economic zone, and become a key area for foreign investment. According to BCI Central, the country’s construction industry certainly has many projects underway, with over 50% of the country’s projects currently in the construction stage. The residential sector has received attention, with over 3,300 active projects. In Northern Thailand, the residential construction sector is on an upward trend due to the growing tourism industry, which has boosted the local economy. Thus, the strong growth of the construction industry in Thailand is driving the demand for sandwich panels; this, in turn, is driving the demand for sandwich panel materials.

Thailand Sandwich Panel Materials Market Regional Insights

The regional trends and factors influencing the Thailand Sandwich Panel Materials Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Thailand Sandwich Panel Materials Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Thailand Sandwich Panel Materials Market Report Scope

Thailand Sandwich Panel Materials Market Players Density: Understanding Its Impact on Business Dynamics

The Thailand Sandwich Panel Materials Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Thailand Sandwich Panel Materials Market are:

1. ROCKWOOL A/S
2. Dow Inc
3. BASF SE
4. Sika AG
5. Celanese Corp
6. Covestro AG

Disclaimer: The companies listed above are not ranked in any particular order.

Thailand Sandwich Panel Materials Market News and Recent Developments

Thailand sandwich panel materials market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Thailand sandwich panel materials market are listed below:

• BASF SE launched an innovative PIR (Polyisocyanurate) System with Hydrofluoroolefin (HFO) as a blowing agent. It is used for the first time in continuous sandwich panel applications. (Source: BASF SE, Press Release, February 2024)
• Sika AG completed the acquisition of MBCC Group to strengthen its footprint across all regions, reinforce its range of products and services across the entire construction life cycle, and drive the sustainable transformation of the construction industry. (Source: Sika AG, Press Release, May 2023)

Thailand Sandwich Panel Materials Market Report Coverage and Deliverables

The "Thailand Sandwich Panel Materials Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Thailand sandwich panel materials market size and forecast at country levels for all the key market segments covered under the scope
• Thailand sandwich panel materials market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter's Five Forces and SWOT analysis
• Thailand sandwich panel materials market analysis covering key market trends, country framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Thailand sandwich panel materials market
• Detailed company profiles