What Assan Panel does

Assan Panel Sanayi ve Ticaret A.Ş. is a Turkish sandwich panel manufacturer founded in 1990 and headquartered in Tuzla, Istanbul, operating as a wholly-owned subsidiary of diversified conglomerate Kibar Holding. The company produces roof, wall/facade, and cold storage sandwich panels with three insulation chemistries (polyurethane/PUR, polyisocyanurate/PIR, and mineral wool), supported by a branded portfolio including SmartCore (next-generation insulation with 0.018 W/mK lambda), BioCore (bio-based polyurethane with ISCC Plus certification), Optipanel/ECOnomy, CoolCell cold chain, and complementary products (corrugated sheets, polycarbonate daylighting, insulation boards, fasteners). It also delivers turnkey EPCM services through its wholly-owned AFG Çelik Yapı subsidiary and modular building, rooftop solar, and field hospital solutions.

Assan Panel operates five production facilities (Tuzla, İskenderun, Balıkesir in Turkey; Amman, Jordan; and a JV at Sumgayıt in Azerbaijan) with total capacity of 22.5 million m²/year and exports to 85+ countries. The company holds extensive international certifications including TURQUALITY Main Program, ISO 9001/14001/27001/45001, FM Approvals, UL Greenguard Gold, LPCB, REI180 fire resistance, and ISCC Plus, many on a first-or-only basis within Turkey's panel industry. It maintains an authorized dealer network domestically and internationally, supplemented by company-owned sales offices in London and Budapest (opened 2023) and a newly announced UK manufacturing facility (2025). Key customers and references include TOGG's EV factory, Güral Seramik, AKPA Aluminum, and the STP Azerbaijan technology park. Revenue is generated through hardware sales (panels and complementary products) and professional services (EPCM turnkey projects) under quote-based pricing. The company is led by General Manager İhsan Tolga Akar and sits within Kibar Holding, which employs 5,000+ people across 22+ companies in metal, automotive, packaging, construction materials, real estate, logistics, energy, food, and services.

Name

Assan Panel

Legal name

Assan Panel Sanayi ve Ticaret A.Ş.

Website

https://assanpanel.com

Company type

Private

Founded year

1990

Operating status

Operating

Short description

Assan Panel is a Turkish sandwich panel manufacturer founded in 1990, producing PUR, PIR, and mineral wool panels plus turnkey EPCM services for industrial construction, cold storage, and building envelope applications across 85+ countries.

Ownership category

akta.pro rank

Product category

Building Materials / Sandwich Panels

NAICS

Laminated Plastics Plate, Sheet (except Packaging), and Shape Manufacturing (326130), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415)

SIC

Sheet Metal Work (3444), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Structural Insulated Panels (SIP) & Foam-Core Composite Panel Manufacturing (IMANAIAK)

akta.pro secondary industry

Roof Insulation & Cover Boards (IMADAFAN)

Keywords

• Sandwich panel manufacturing
• Building envelope solutions
• Thermal insulation panels
• Industrial roofing systems
• Cold storage panels

Headquarters

HQ city

Tuzla, Istanbul

HQ country

Türkiye

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Sandwich Panel Sales: Manufacture and sale of polyurethane, PIR, and mineral wool filled sandwich panels for roofing, cladding, and cold storage applications. Revenue from panel products sold through dealer network and direct sales.
2. EPCM Services: Engineering, Procurement, Construction, and Management services for turnkey industrial building projects including steel construction, installation, and project management through AFG Çelik Yapı.
3. Complementary Products: Sales of complementary products including polycarbonate sheets, trapezoidal sheets, corner panels, screws, sealing products, and construction chemicals.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Assan Panel manufactures and sells sandwich panels for roofing, wall/facade cladding, and cold storage applications, using polyurethane (PUR), polyisocyanurate (PIR), and mineral wool insulation cores. The company also produces complementary products such as polycarbonate sheets, trapezoidal sheets, and insulation boards, and delivers integrated turnkey solutions including solar power plant installations, modular buildings, rapid-deployment healthcare facilities, cold chain systems, and EPCM construction services for industrial buildings.

Product overview

Assan Panel is a leading manufacturer of sandwich panels and building envelope solutions in Turkey, operating since 1990. The product portfolio centers on sandwich panels available in three main insulation types (polyurethane/PUR, polyisocyanurate/PIR, and stone wool/mineral wool) for roofing, wall/facade, and cold storage applications. Key branded products include BioCore (bio-based insulation), SmartCore (next-generation insulation with 0.018 W/mK lambda value), and various panel profiles (N-series, S-series, W-series). Supporting products include corrugated sheets (Trapez), polycarbonate sheets for daylighting, insulation boards (AssanBoard), and complementary accessories. The company also offers integrated solutions including solar power plant installations, modular buildings, rapid-deployment healthcare facilities, cold chain solutions (CoolCell), and AFG Steel & Construction EPC services. Production facilities are located in Tuzla/Istanbul, Balıkesir, Iskenderun (Turkey), Jordan, and Azerbaijan, with annual capacity of approximately 22.5 million m2.

Differentiator

Problem solved

Functional benefit

Brands

• BioCore: Next-generation bio-based polyurethane insulation technology with up to 60% lower carbon emissions in core fill
• SmartCore
• Optipanel
• AssanPU
• Assan Demir
• AssanWool
• AssanBoard
• CoolCell

Products and services

• SmartCore Sandwich Panels Next-generation insulation sandwich panels with 0.018 W/mK lambda value, providing up to 110% better thermal efficiency than standard mineral wool and up to 22% better than PIR filling, for industrial buildings requiring best-in-class thermal performance.
• BioCore Sandwich Panels Bio-based polyurethane insulation sandwich panels using vegetable-based raw materials and organic waste, offering up to 60% lower carbon emissions in core filling with ISCC Plus certification, for sustainable building projects.
• Roof Sandwich Panels

Quantifiable outcome

• SmartCore provides up to 110% better thermal efficiency than standard mineral wool and up to 22% better than PIR filling
• +5 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• STP (Sumgayıt Texnologıyalar Park)coreStrategic or Co-development Partner · 1 January 2021Strategic partnership with Azerbaijan's Sumgayıt Texnologıyalar Park for sandwich panel production under Assan STP Panel brand. This represents Assan Panel's first investment in Turkic Republics, establishing manufacturing capability in Azerbaijan.
• Assan Trading LLCcoreChannel Partner/ Reseller/ Distributor · 1 January 2020Turkish-owned Jordanian subsidiary established in 2020 in Al Mafraq as strategic distribution hub for Kibar Group and Assan Panel products in Jordan and neighboring markets.
• Kibar HoldingcoreOthersParent company of Assan Panel. Kibar Holding operates across metal, automotive, packaging, building materials, real estate, logistics, energy, food, and service sectors with 22+ companies and 7,500+ employees. Signatory to UN Global Compact.

Scale indicators4 records

Recent moves14 records

Expansion highlights6 records

Broad incumbents

• Kingspan Group: Global leader in insulated panels and building envelope solutions; competes directly with Assan Panel in PUR/PIR/mineral-wool sandwich panels, cold storage, and roofing across Europe and MENA, with significantly larger scale and R&D budget.
• ArcelorMittal Construction: Steel major's construction division producing sandwich panels, profiled sheets, and building envelope systems; competes with Assan Panel across European and emerging markets and benefits from integrated steel supply.
• Tata BlueScope Steel: Produces insulated panels, roofing, and walling systems primarily across South Asia, Middle East, and Southeast Asia; comparable to Assan Panel in product range, scale, and emerging-market footprint.

Direct peers

• Isopan: European sandwich panel manufacturer specializing in PUR, PIR, and mineral-wool panels for roofing, walls, and cold storage; directly competes with Assan Panel in Mediterranean and European markets and is a like-for-like product peer.
• Metecno: Sandwich panel manufacturer serving European, Middle Eastern, and Latin American markets with PUR/PIR and mineral-wool panels for industrial and cold-storage applications — a closely comparable product peer to Assan Panel.
• Balex Metal: Central European manufacturer of sandwich panels, trapezoidal sheets, and roofing systems; competes with Assan Panel's Hungarian sales office and adjacent EU markets with similar product mix.
• Panel Sandwich Group: Spanish sandwich panel and cold-room manufacturer producing PUR/PIR and mineral-wool panels; competes with Assan Panel in Mediterranean markets and offers comparable thermal-performance products.
• Hoesch Bausysteme: European sandwich panel and profiled metal sheet producer serving industrial, commercial, and cold-storage applications; comparable product portfolio and quality certifications to Assan Panel.

Regional players

• Romakowski (R-Panel): Sandwich panel producer serving CIS and Eastern European markets with comparable PUR/PIR and mineral-wool offerings; geographic overlap with Assan Panel in Turkic Republics and Eastern Europe.

Emerging players

• Tera Panel: Turkey-based regional competitor producing sandwich panels for industrial and cold-storage markets; directly overlaps Assan Panel's domestic Turkish customer base and product range.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Assan Panel