Home > HVAC & Construction > Metal Structural Insulation Panels Market
Metal Structural Insulation Panels Market size surpassed USD 40 billion in 2021 and is projected to witness 3.8% CAGR from 2022 to 2028. The rising demand for energy-efficient, high-performance, high-strength, and easy-to-install structural panels will boost industry growth. Rising awareness about sustainable building solutions coupled with growing green building initiatives across developed economies will offer new opportunities for product penetration.
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Increasing construction & building works in residential household & commercial structures around the globe are expected to foster the demand for metal structural insulation panels. The buildings constructed by using insulation panels require almost half the energy for heating & cooling purposes. These homes have lower leakage rates of up to 70% reduction as compared to conventional homes.
The increasing applications of metals with high R-value in buildings and construction activities along with ongoing technological advancements are anticipated to support industry expansion. The lack of awareness regarding metal-insulated panels along with higher product costs is adversely impacting the market demand. The higher cost of products can be attributed to high strength, durability, fire-resistant capacity, and high raw material costs. Higher raw materials prices and uncertainties in the global metal market are some of the challenges faced by metal SIP manufacturers. Technological advancements, however, are set to minimize product costs and support market growth.
Report Coverage | Details |
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Base Year: | 2021 |
Market Size in 2021: | 40.35 Billion (USD) |
Forecast Period: | 2022 to 2028 |
Forecast Period 2022 to 2028 CAGR: | 3.8% |
2028 Value Projection: | 53.92 Billion (USD) |
Historical Data for: | 2018 to 2021 |
No. of Pages: | 226 |
Tables, Charts & Figures: | 377 |
Segments covered: | Application, End-Use |
Growth Drivers: |
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Pitfalls & Challenges: |
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Wall application segment is poised to reach nearly USD 51 billion by 2028, with a growth rate of about 3.9%. Metal SIP walls are used for constructing energy buildings in commercial, industrial, retail, and residential metal building segments. Metal wall panels can be used in warehouses, cold storages, transportation, food processing, floral storage structures, disaster relief, emergency shelters, and buildings. Metal walls can protect buildings and warehouses against wind, storm, and hurricanes by providing an airtight construction with better thermal & environmental control.
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The metal structural insulation panels market from commercial end-use segment is projected to register 4% gains through 2028. The increasing popularity of prefabricated metal structural insulation panels to fasten on-site construction processes while considerably reducing skilled labor requirements will be driving the product adoption. Metal SIPs are anticipated to reduce space-heating & ventilating equipment requirements, thereby lowering the construction & operating costs of commercial buildings.
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The Europe metal structural insulation panels market generated about USD 14 billion revenue in 2021 and is predicted to showcase 3% CAGR till 2028. Shifting trends toward green building construction solutions and government activities regarding energy savings & sustainability will propel the use of metal structural insulation panels in construction & building works.
Growing residential construction with changing architectural designs and the adoption of new technologies to make homes more fire-resistant and energy efficient. Further, rising warehouse & cold storage construction owing to the strong food & beverages sector in the region is estimated to boost the marketrevenue.
The key industry participants are strategically engaging in mergers & acquisitions and product launches to cater to a wide range of customers around the globe. For instance, in January 2021, Kingspan Group Plc acquired 51% stakes in the Bromyros and entered the Uruguay insulated panel market. Major market players are Kingspan Group plc, Arcelor Mittal, Jindal Mectec, Atas International, Inc., Flexospan Steel Buildings, Inc., Kirby Building Systems, and Tata Steel.
The metal structural insulation panels market research report includes in-depth coverage with estimates & forecast in terms of volume in million square feet and revenue in USD million from 2018 to 2028 for the following segments:
Market, By Material
Market, By End-user
Market, by Region