The market for composite insulated panels is expected to register a CAGR of over 6% during the forecast period. Major factors driving the market studied are the increasing demand from the construction sector and increasing cold storage applications.
- Advancements in building technologies such as modular construction techniques is likely to hinder the growth of the market.
- An increase in demand from emerging economies is likely to act as an opportunity to the market studied.
Key Market Trends
Increasing Demand from the Building Wall
- Composite insulated wall panels are generally available in thicknesses of 4-1/2 inches and 6-1/2 inches. Manufacture of curved wall panels is possible, and it is often more practical to use stud framing for non-orthogonal geometries.
- The whole wall R-value of a wall assembly is currently the best and the most followed method of quantifying the total thermal performance. The whole wall R-value takes the resistance of heat, flown through an opaque cross-sectional area of insulation, and structures into the account, while the total loss of energy at the interfaces of the wall with the roof and floor are accounted.
- The whole wall R-value of a 4-inch composite insulated wall panel is 14, whereas for a 2x4 wall is less than 10. The whole wall R-value of a 2x6 wall is between 11 and 13.7 depending on the quality of the installation of batt insulation.
- The elimination of thermal bridging and a more air tight envelope contribute to the higher whole wall R-value of composite insulated wall panels, compared to the conventional metal and wood stud walls.
- The total volume of the panels used as composite insulated wall panels is much higher, compared to the volume of the panels used as composite insulated roof panels.
North-America to Dominate the Market
- The United States dominated the North American composite insulated panels market, owing to the increasing construction activities in the country.
- The US residential sector’s growth is slower than the non-residential sector. In the country, the growing population is expected to boost the demand for housing. Furthermore, about 20 million households are projected to be constructed over the next decade. The US commercial construction sector is expected to witness growth in the next few years.
- There are upcoming projects that are in the pipeline for the construction sector to boom in the country.
- Furthermore, in Canada, the construction industry is one of the largest in the North American region. It is expected to grow at a considerable pace over the forecast period.
- The Canadian construction industry is witnessing growth in few major cities, such as Toronto and Vancouver. In these cities, developers are registering good profits on investment, mainly with high-density residential projects.
- With the construction industry’s growth, the demand for market studied is expected to increase significantly.
The composite insulated panels market is fragmented in nature. Some of the major players of the market are Kingspan Group, Rautaruukki Corporation, Premier Building Systems, PFB Corporation, and Owens Corning, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support