The U.S. and Mexico insulated panels market was valued at $633.7 million in 2018 and is estimated to reach $1,011.8 million by 2026, growing at a CAGR of 5.9% from 2019 to 2026. Insulated panels are high-performance building components used in the construction of walls, roofs, floors, cold rooms, and refrigerated vehicles bodies to improve energy management.
These panels are one of the replacements for conventional stick frame construction, and are manufactured by sandwiching a rigid foam insulation material between two panels. The rigid foam insulation material is developed from polymers such as polyurethane and polystyrene. The lamination process makes use of industrial adhesives, which help to bind the rigid foam insulation material to the wooden structure. Adoption of insulating panels is advantageous as they offer better energy management, improved durability, faster construction, fire resistant, and better acoustical & vibration control at an economical cost.
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Governing and regulatory bodies play a critical role in building or inhibiting the growth of any market in a region. The regulatory framework associated with the U.S. and Mexico insulated panels market mainly focuses on legal and environmental aspects such as thermal insulation performance and use of formaldehyde free insulating panels Specifications such as weight, design flexibility, energy savings, load resistance, fire resistance, and sound proofing are few areas where regulation frameworks are used. One of the major priorities of the legal regulatory framework in Mexico is the protection and security of the city in case of emergency or any situation that poses a risk to the population.
This legal framework includes architectural requirements for the free transit of persons with disabilities, structural design, and construction of buildings using insulated panels, advertisement hoardings, and cellular telephone antennas and energy conservation.
Some of the regulations include the double panel, supplied with reinforcement certified by an official Laboratory in conformity with the Law 5/11/1971 no.1086 – D.M. 9/1/1996, complies with the provisions concerning reinforced concrete structures according to the EUROCODE 2 (EC2). Such regulations are expected to have positive impact as it provides legal and environmental benefits to the consumers of insulating panels market. With the implementation of such regulations, it is expected that the market for U.S. and Mexico insulated panels will increase significantly.
Urbanization and globalization are some of the major driving factors of the U.S. and Mexico insulated panels market. Furthermore, surge in demand for refrigerated vehicles and cold storage containers, for shipping food and other edible products will further fuel the market growth. Insulated panels have enough structural integrity to bear load.
They can also be used to replace several individual elements that are usually layered together to form the walls of building. However, formation of burrows in the insulating panels by pests, such as insects and rodents will pose a severe threat to the market growth and acts as a major restraint. Moreover, damage due to moisture leading to leakage in insulated panels hinders the market growth. Eco-friendly characteristics of insulating panels present numerous growth opportunities for market expansion.
The U.S. and Mexico insulated panels market is segmented based on the foam type, skin material, end-use industry, and country. Based on foam type, the market is divided into polyurethane foam, polystyrene, and others. On the basis of skin material, the market is classified into steel—steel, steel—cardboard, cardboard—cardboard, and others. By end-use industry, the market is categorized into construction, warehouses, cold storage, and others.
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The key players operating in this market are Centria, All Weather Insulated Panels, Butler Manufacturing, Laminators Inc., Advanced Insulation Concepts Inc., Alply Inc., Green Span Profiles, Industrias Unypanel SA DE CV, Metecno SPA, and Ecostruct Panel Systems.
KEY BENEFITS FOR STAKEHOLDERS
• Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the U.S. and Mexico insulated panels market for strategy building.
• It outlines the current U.S. and Mexico insulated panels trends and future scenario of the global U.S. and Mexico insulated panels market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
• Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
• The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
• The profiles of key players along with their key strategic developments are enlisted in the report.
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KEY MARKET SEGMENTS
By Foam type
By Skin Material
By End-Use Industry
• Cold Storage