Metal Structural Insulation Panels Market 2020 - Emerging Trends, Future Scope and Demand Forecast to 2024
Category: #headlines  By Rahul Varpe  Date: 2020-06-08
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Metal Structural Insulation Panels Market 2020 - Emerging Trends, Future Scope and Demand Forecast to 2024

Metal Structural Insulation Panels Market in the Europe is expected to exceed USD 23 billion by 2024. Favorable government policies such as Nearly Zero Energy Buildings Program to improve the performance of commercial infrastructure is supporting the regional growth. For instance, On 30th November 2016, the European Commission proposed an update to the Energy Efficiency Directive for new construction by including a new target to improve the energy efficiency of buildings up by 30% by 2030.

Metal structural insulation panels market in Asia Pacific will grow significantly owing to increased investments in R&D for construction of energy-efficient commercial & residential buildings. Industry participants are engaged in collaboration with contractors and builders to gain competitive edge. For instance, in August 2018, Kingspan announced to develop an energy-efficient warehouse for IKO Polymeric with Kingspan metal insulated panels. Kingspan collaborated with Roofdec Ltd to complete the project within the specified time and budget.

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Rapid industrialization coupled with cold storage industry expansion are driving the metal structural insulation panels market. Expanding frozen & processed foods demand owing to busy lifestyle, changing food preferences, and ease in cooking is escalating the demand for cold storage applications. According to Global Cold Chain Alliance (GGCA), the global cold storage capacity has increased to 616 million m3 in 2018.

Positive application outlook across the commercial & residential sector owing to high insulation advantages offered are further supporting the business growth. Heating & cooling accounting for around 50% of the energy use in residential applications. Thus, structural insulated panels reduce the electricity expenses by improving the thermal efficiency. Growing demand for advanced building materials offering more durable and energy efficient buildings will drive the metal structural insulation panels market demand.

Metal Structural Insulation Panels Market, by End-Use:

  1. Residential
  2. Commercial
  3. Non-Building

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Metal Structural Insulation Panels Market, by Application:

  1. Walls
  2. Roofs

Roofs segment is expected to register CAGR over 2% up to 2024. Increasing energy efficient roofs demand in a wide range of commercial and industrial applications is driving the segment growth. In North America, the government support metal structural insulation panels roofing in the construction of by providing several federal, state, and local tax incentives for going green with insulated metal roof panels and helping in saving the energy cost.

Key players in the metal structural insulation panels market include:

  1. Tata Steel
  2. Kingspan
  3. Thermasteel
  4. MIB Facades Limited
  5. Flexospan Steel Buildings
  6. PermaTherm
  7. LEEP Inc.
  8. Direct Metals Co. LLC.
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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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