Iberian Sandwich Panel Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

Iberian Sandwich Panel Market Overview

The Iberian sandwich panel market continues to grow with increasing demand for energy-efficient buildings in this region. Energy-efficient building construction is driving the market. In 2023, Spain accounted for 8.2% of the EU’s net greenhouse gas emissions, highlighting the need for sustainable building solutions.

Innovations in sandwich panel technology are reshaping the Iberian construction and industrial sectors, driving demand for high-performance, energy-efficient, and sustainable solutions. The integration of flexible solar sheets into sandwich panels is revolutionizing building materials by enabling on-site renewable energy generation, reducing dependence on traditional energy sources. This development is particularly relevant in Spain and Portugal, where high solar exposure makes photovoltaic-integrated building materials a viable solution for energy-efficient construction, expanding the demand for sandwich panels.

Furthermore, government investment in the construction sector is aiding the demand for sandwich panels in the Iberian Peninsula. In line with this, Spanish government allocated USD 1.08 billion (EUR 1.0 billion) for affordable, energy-efficient rental housing under the 2021-2026 National Recovery and Resilience Plan (NRRP).

Iberian Sandwich Panel Market Growth

In the Iberian Peninsula, government investments and initiatives towards sustainable construction are driving the demand for the sandwich panel market. For instance, in Spain, the government’s plan to renovate 500,000 homes by 2026 with a USD 7.2 billion (EUR 6.8 billion) EU-backed budget supports energy-efficient building upgrades. Similarly, in Portugal, the government introduced a USD 112 million home energy efficiency program in 2023 covering 85% of costs for upgrades like insulation and photovoltaic panels.

Furthermore, the growing popularity of prefabricated structures accelerates demand, as modular construction cuts build times by 30-50%, reduces delays, and improves cost-effectiveness through automation, quality control, and efficient material supply, making sandwich panels a preferred choice for modern construction.

Key Trends and Recent Developments

Iberian Sandwich Panel Market Trends

The latest trend in the Iberian sandwich panel market for include the growing housing investment, and sustainable construction practices.

In 2023, housing investment accounted for 6.0% of Spain’s GDP and 3.9% of Portugal’s GDP. This increasing demand for housing across the region naturally translates into a rising need for construction materials, such as sandwich panels. These panels, known for their energy efficiency and ease of installation, are in high demand for new residential and commercial buildings. As investments in housing grow, so too does the demand for advanced building materials, driving the Iberian sandwich panel market expansion.

The construction sector has a significant environmental impact, accounting for 50% of material extraction, 35% of waste generation, and 5-12% of national greenhouse gas emissions. The adoption of sandwich panels in construction helps address these issues by promoting material efficiency, reducing waste, and supporting the circular economy. These panels are designed to be energy-efficient, improving the thermal insulation of buildings and reducing the need for heating and cooling.

Figure: Investment in housing, 2023 (in % of GDP)

Iberian Sandwich Panel Market Opportunities

There is a rising need for energy-efficient and sustainable construction materials in Europe, driven by the EU’s stringent energy regulations. EU countries must achieve cumulative end-use energy savings for the entire obligation period (2021-2030), equivalent to new annual savings of at least 0.8% in 2021-2023, 1.3% in 2024-2025, 1.5% in 2026-2027, and 1.9% in 2028-2030. Sandwich panels, known for their superior insulation properties, present an opportunity to meet this demand.

The rising construction sector in the Iberian Peninsula is driving the adoption of sandwich panels. In 2023, construction continued to be a significant contributor to Spain’s economy, accounting for 10% of GDP in terms of GFCF and 5% in terms of GVA. This growth in construction activity is boosting the demand for sandwich panels, known for their efficiency and insulation properties, as they are increasingly used in energy-efficient building projects.

Ongoing innovations in sandwich panel materials, such as improvements in insulation capabilities, fire resistance, and durability, open new opportunities for manufacturers to cater to a broader range of industries, including commercial, industrial, and residential sectors. Companies such as Huurre, Invespanel, and Kingspan Group Plc are incorporating such practices. In 2024, Huurre has launched the HI-QuadCore 2.0 FK DUAL, an innovative sandwich panel designed to offer high performance in building, with certified fire resistance and high thermal efficiency, aiding sandwich panels demand.

Iberian Sandwich Panel Market Restraints

Iberian sandwich panel market challenges include rising raw material costs and competition from alternatives.

The increasing cost of raw materials, such as steel and insulation core materials, impacts the production costs of sandwich panels. For example, hot-rolled coil prices in Europe have risen to EUR 615-625 per metric ton due to year-end buying and mills' efforts to recover revenue. Fluctuations in insulation core materials and polymer costs also pose a challenge, adding uncertainty to expenses. This surge in steel prices, along with material cost variability, leads to higher manufacturing costs, squeezing profit margins and making it harder to offer competitive pricing.

Iberian Sandwich Panel Industry Segmentation

Iberian Sandwich Panel Market Share

By Type Analysis

As per the Iberian sandwich panel market analysis, PUR/PIR is expected to hold a significant share. PUR panels have an R (thermal resistance) value of 5-7.1 per inch, while PIR has an R-value ranging between R7 and 7.2 per inch. Additionally, PUR panels, made of closed cell structure and hard polyurethane foam, are increasingly being adopted in lightweight construction and building applications.

By Skin Material Analysis

Steel is expected to hold a significant share in the Iberian sandwich panel market. Players are investing in research to develop recycled steel sandwich panels. In October 2024, Kingspan became Spain and Portugal's first sandwich panel producer to use ArcelorMittal’s organic coated XCarb® recycled and renewably produced steel. The product is a result of a partnership focused on producing construction solutions with a reduced carbon footprint.

By Technology Analysis

Discontinuous sandwich panel production lines are suitable for producing customised products that cannot be continuously produced or for which the production volume is not high enough to invest in continuous equipment.

By Application Analysis

Wall panels is expected to hold a significant share in the Iberian sandwich panel market. The growth of the sandwich wall panels market is being driven by the increasing use of innovative lightweight products in residential and commercial buildings. In July 2023, INEGI launched lightweight composite wall panels designed for better thermal and acoustic comfort.

By End Use Analysis

Commercial is expected to hold a significant share in the Iberian sandwich panel market. PIR (polyisocyanurate) sandwich panels offer excellent thermal insulation and fire resistance, making them ideal for commercial buildings such as offices and hotels. In fact, investment in the Spanish hotel sector reached USD 4.55 billion, which was 36% of the total investment in the country.

In 2023, Portugal recorded 30 million tourist arrivals, up from 28.4 million in 2022, resulting in nearly 70 million overnight stays.

Iberian Sandwich Panel Market Regional Insights

Spain Iberian Sandwich Panel Market Dynamics

Sandwich Panel is gaining traction in the Spain sandwich panel market due to the growth of energy-efficient homes. In Spain, it is a legal requirement for homes to have an energy label that indicates their level of energy efficiency, ranging from A (most efficient) to G (least efficient). The country is placing increasing emphasis on meeting the European Union's target for all existing homes to achieve at least a D rating by 2033.

Portugal Iberian Sandwich Panel Market Dynamics

Sandwich Panel is gaining traction in the Portugal sandwich panel market due to the rising demand for modular housing. In 2024, Portugal faced a shortage of over 136,000 homes. Modular homes are emerging as a viable solution to help Portugal overcome its housing crisis, offering speed of construction, sustainability, and more affordable costs.

The speed and efficiency of modular construction can cut costs by 20% and shorten project timelines by 20-50%. Since sandwich panels are crucial components of modular construction, the growing demand for modular houses positively impacts the market.

Competitive Landscape

Other key players in the Iberian sandwich panel market are THERMOCHIP, S.L.U, METECNO Group, MASTER PANEL S.L, PANELAIS PRODUCCIONES S.A., Fábrica da Barca (FTB), IRMALEX SA and EUROPERFIL, S.A.