Composite Insulated Panels Market Overview:

The composite insulated panels market is growing rapidly, witnessing a massive demand from end-user industries. Expanding application areas of these composites is another key growth driver of the market.  Moreover, an increase in the global economy escalates the market to furthered height, driving the end-user industries. Automotive, building & construction and automotive are key end-user industries of these composites.

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Market Research Future (MRFR), in its recent composite insulated panels market forecast, asserts that the market is expected to reach exponential value by 2027, registering an impressive CAGR over the assessment period (2020-2027). Furthermore, factors such as the increasing numbers of applications and the burgeoning construction sector substantiate market growth.

Innovative, customized product developments and rising demand for fuel-efficient automobiles foster the consumption of composite insulated panels. On the other hand, fluctuating prices and the demand-supply gap in the raw materials required for production are major growth impeders for the market. Nevertheless, rising production in the automotive and aerospace industry would support market growth over the review period.

Global Composite Insulated Panels Market – Segments

The composite insulated panels market research is segmented into products, applications, and regions. The product segment is sub-segmented into expanded polystyrene (EPS) panel, rigid polyurethane (PUR), rigid polyisocyanurate (PIR) panel, glass wool panel, and others.

Among these, rigid polyurethane (PUR) and rigid polyisocyanurate (PIR) panel segments account for larger market shares owing to their better resistance to temperatures along with lightweight properties.

The application segment is sub-segmented into building walls, building roofs, cold storage, and others. Among these, the building wall application segment accounts for a larger market share owing to the growing construction projects requiring highly efficient and green materials.

Global Composite Insulated Panels Market – Regional Analysis

North America dominates the global composite insulated panels market. The market growth attributes to high consumer awareness, early acceptance, and government support for energy-efficient and green constructions. Besides, the commercial availability of the products and easy installation guidelines provided by the key players support the composite insulated panels market growth. 

The presence of a large automobile industry drives a considerable share of the composite insulated panels market demand. Furthermore, growing investments in the aerospace and defense sectors in the region are further expected to increase the consumption of these panels.

Asia Pacific stands second in the global composite insulated panels market. The demand in various applications such as automotive, transportation, aerospace, and defense increases the region’s composite insulated panels market shares. Growth in end-user industries and disposable incomes of populaces in the region are key driving forces behind the market growth. China, Japan, South Korea, and India, backed by their burgeoning construction sectors, significantly contribute to market growth. 

The European composite insulated panels market is growing rapidly, witnessing augmenting demand from end-user industries such as the electronics and construction industries. The growing uses of these composites in aircraft and automobiles boost the composite insulated panels market size. Germany owing to its large automotive and medical devices industry leads the regional market.

Global Composite Insulated Panels Market – Competitive Landscape

The composite insulated panels market appears fragmented and highly competitive, owing to the presence of several big and small players. The market favors volume over value leading to large capacity additions. The vendors are developing global supply chains to source raw materials at a lower cost. Thus, vendor management is a must strategy in the sector. Close alignment with end-user industries and customized development of advanced products suiting the end-user application is being followed for tier-one clients.

Major Players

Players leading the global composite insulated panels market include ArcelorMittal (Luxembourg City), Alubel SpA (Italy), Balex-Metal (Poland), ITALPANNELLI SRL (Italy), Dana Group Plc (UAE), Jiangsu Jingxue Insulation Technology Co. Ltd (China), Manni Group S.p.A (Italy), Kingspan Group (Ireland), METECNO (India), Nucor Building Systems (Indiana), PFB Corporation (Canada), Owens Corning (US), and Multicolor Steels (India) Pvt. Ltd.

Industry/ Innovation/ Related News:

Jan. 26, 2021 ---- ThermHex Waben GmbH (Germany), a leading producer of high-quality honeycomb cores for economic sandwich panels & parts, and Panel Systems (the UK), a leading supplier of insulated panels, introduced lightweight polypropylene (PP) honeycomb cores for the elevated roofs of 2,000 camper vans, including Ford and Volkswagen. These polypropylene honeycomb panels improve fuel efficiency with 80% less weight, full functionality when wet and a stable foundation.

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