Consegic Business Intelligence analyzes that the composite insulation panel market is growing at a healthy CAGR of 5.8% over the forecast period (2023-2030), fueled by increasing adoption of composite insulation panels in cold storage warehouses. Key participants include Kingspan Group, Alubel SpA., ArcelorMittal, DANA Group of Companies, Balex-Metal and PFB Corporation.
NEW YORK, 20 July 2023 (Globe Newswire) — Global C.opposite Iinsulated P.anel M.Arquette Expected to see impressive growth The CAGR during the forecast period from 2023 to 2030 is 5.8%. Factors such as increasing development of new refrigeration facilities, increasing investment in new residential projects are accelerating the demand for composite insulation panels, which is benefiting the growth of the market. Moreover, increasing development of the new range of composite insulation panel product categories will further drive the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the composite insulation panel market is poised for strong expansion and is expected to reach the next level. USD 491.61 1 million by 2030. rated market USD 314.58 million in 2022, is projected to grow at The average annual growth rate from 2023 to 2030 is 5.8%. The report highlights the increasing adoption of composite insulation panels in building wall applications where the global market is accelerating. Consegic Business Intelligence’s research also provides insights into the market competitive landscape, market segmentation, regional outlook, and emerging technologies in the composite insulation panel market.
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Composite insulation panels are installed in the walls of buildings and provide efficient protection from steam, air, moisture and heat. Building walls are constructed in a variety of construction projects such as residential, commercial, industrial, and infrastructure. For example, according to recent 2022 statistics released by the Federation of European Contractors (FIEC), investment in Dutch housing projects was €34,917.95 million (US$39,883.15 million) in 2020 and €36,175 million (US$42,785.62 million) in 2021, an increase of 3.6% compared to the Netherlands. Thus, the boom in housing construction accelerated the construction of building walls. Therefore, the increasing development of building walls has increased the demand for composite insulation panels to ensure excellent thermal properties. This in turn benefits market growth.
Composite insulated panels have excellent thermal performance and are used in refrigerated storage applications. This produces composite insulation panels that can be used in a variety of refrigeration applications, such as refrigerated vehicles and climate-controlled environments. For example, in December 2022, Maersk announced that it would have a new refrigeration facility in Norway operational by the first quarter of 2024. Therefore, the increasing development of new cold storage facilities will increase the demand for composite insulation panels as they are utilized in cold storage ceilings, walls, cold storage partitions, etc. This prominent determinant drives the growth of the composite insulation panel market.
Global Composite Insulation Panel Market: Report attributes
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Report attributes |
Report details |
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Research schedule |
2017-2030 |
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Market size in 2030 (USD million) |
$491.61 million |
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CAGR (2023-2030) |
5.8% |
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By product type |
Expanded polystyrene (EPS) panel, rigid polyurethane (PUR) panel, rigid polyisocyanurate (PIR) panel, glass wool panel, etc. |
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By use |
Building walls, building roofs, refrigerated warehouses, etc. |
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Report scope |
Company rankings and market shares, growth drivers, total revenue forecasts, regional competitive landscape, business strategies, and more. |
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by geography |
North America, Asia Pacific, Latin America, Europe, Middle East, Africa |
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key player |
Kingspan Group, Alubel SpA., ArcelorMittal, DANA Group of Companies, Balex-Metal, PFB Corporation, Jiangsu Jingxue Insulation Technology Co. Ltd, METECNO, Zamil Steel Pre-Engineered Buildings Co. Ltd, and Tata Steel |
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Global Composite Insulation Panel Market Segmentation Details:
Based on product type The expanded polystyrene (EPS) panel segment contributed the largest share to the market growth in 2022. Expanded polystyrene (EPS) panels have multiple advantageous properties, including measurable energy savings, modular in nature, multiple finish options, constant heat resistance, and light weight. These features ensure an excellent weight-to-strength ratio. Expanded polystyrene (EPS) panels are used in commercial construction projects. Ongoing commercial construction projects worldwide will therefore create a lucrative opportunity for increasing demand for expanded polystyrene (EPS) panels to ensure energy-efficient thermal insulation. This will drive the growth of this segment in the coming years.
Based on the application Building walls accounted for the largest market share in 2022. The use of composite insulation panels ensures a superior construction of the building. In addition, the introduction of composite insulation panels ensures greater design flexibility, superior thermal properties, etc. for architectural walls. Building walls are used in a wide variety of building and construction projects, including residential, commercial, infrastructure, and industrial. Therefore, the above properties have increased the demand for composite insulation panels in building walls to ensure a good insulation core. This will drive the growth of the composite insulation panel market.
based on region, Asia-Pacific accounted for the largest share contribution to the market growth in 2022. This is due to the increasing number of building and construction projects. For example, in the third quarter of 2021, construction work began on the $3.17 billion Hamamatsucho Shibaura 1-chome redevelopment project in Tokyo. The project includes the development of his 550,000-square-meter mixed-use building consisting of two towers. Construction work is expected to be completed by the end of 2030. Therefore, the increase in building and construction projects in the Asia-Pacific region has accelerated the development of new building walls, roofs, etc. This will drive market growth.
competitive environment
According to the research, Kingspan Group, Alubel SpA., ArcelorMittal, and DANA Group of Companies are the major market players that make up the latest market landscape. These companies have significantly leveraged their technology in developing a new range of composite insulation panels. Moreover, the composite insulation panel market is expected to grow steadily owing to rising demand from the building and construction industry, especially in regions such as Asia Pacific, North America and Europe region, which is estimated to boost the market statistics in the coming years. Moreover, the increasing trend of developing new cold storage facilities is expected to increase the demand for composite insulation panels in the coming years, increasing the competition in the market.
Recent developments
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In November 2022, All Weather Insulated Panels, a leading manufacturer of foamed composite insulated metal panels in the United States, launched the DM44 Mesa panel. This product is ideal for architectural wall applications. Therefore, the development of a new range of products will supplement the growth of the market in the coming years.
Important points in the market
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Asia-Pacific accounted for the highest market share at 34.55%, valued at US$108.69 million in 2022 and expected to reach US$170.34 million in 2030. Moreover, in the Asia-Pacific region, China accounted for the highest market share of 26.50% in the base year 2022.
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Based on product type, the expanded polystyrene (EPS) panel segment accounted for the largest share contribution to the composite insulation panel market statistics in 2022.
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In the context of application, the building wall segment is anticipated to account for a major share in the growth of composite insulation panel market statistics during the forecast period.
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In North America, market demand for composite insulation panels is expected to increase due to increased investment in new buildings and construction projects in countries such as the United States, Canada.
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List of major global Composite Insulation Panels market:
Global Composite Insulation Panel Market Segmentation:
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By product type
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Expanded polystyrene (EPS) panel
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Rigid polyurethane (PUR) panels
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Rigid polyisocyanurate (PIR) panels
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glass wool panel
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others
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By use
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building wall
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building roof
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refrigeration
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others
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Composite Insulation Panels Market Report Frequently Asked Questions
– Composite insulation panel market valued at $314.58 million in 2022
– In 2030, the market size of composite insulation panels is expected to reach $491.61 million.
– Increasing adoption of composite insulation panels for building walls is driving the market growth
– In 2022, the building wall segment accounted for the highest market share of 36.55% in the overall composite insulation panel market.
– Asia-Pacific accounted for the highest market share of the overall composite insulation panel market.
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