Insulated Metal Panels (IMPs) are lightweight composite exterior wall and roof panels that have two layers of coated thin sheet metal (usually steel or aluminum) wrapped around a rigid foam core to form a stiff composite. IMPs provide strong thermal and moisture resistance. Insulated metal panels provide numerous advantages over conventional building materials. Contractors, designers, and owners of industrial, commercial, and refrigerated buildings have relied on insulated metal panels for ease of installation, excellent thermal efficiency, and overall structural integrity. Insulated metal panels are used in various applications due to their excellent performance and competitive in-place costs. Its applications include manufacturing facilities, healthcare facilities, cold storage & food-processing plants, aircraft hangars & service facilities, schools & universities, sports complexes, warehousing & distribution centers, and convention centers. The North America insulated metal panels market growth is further fueled by the growing adoption of insulated metal panels in modern construction.
The North America insulated metal panels market size is likely to surge by 2030 owing to new product innovations. Moreover, in North America, the construction industry is one of the main contributors to the economy. Factors such as the increasing population, rapidly growing residential, commercial, and industrial construction sectors, and rising spending on construction activities are driving the growth of the construction sector in the region. The US has experienced a striking surge in construction spending for manufacturing facilities. Since the end of 2021, real manufacturing construction spending has almost doubled. The Infrastructure Investment and Jobs Act, Inflation Reduction Act, and CHIPS Act each provided tax incentives and direct funding for public and private manufacturing construction. This has resulted in a boom in the construction of manufacturing facilities, positively influencing the demand for insulated metal panels.
The growing construction of cold storage facilities is also driving the demand for insulated metal panels. Temperature-controlled insulated metal panels that maintain a stable interior environment and protect perishable goods and other products, regardless of the exterior weather conditions, are highly used by cold storage facilities. Furthermore, players operating in the North America insulated metal panels market focus on developing new, innovative, and high-quality products in order to fulfill the growing customer demand. These market players are focusing on the design, construction, and advancement of insulated metal panels for walls, roofs, and other applications. They are developing high-quality insulated metal panels to overcome the growing energy, environmental, and economic challenges faced by the building industry in North America. For instance, in November 2023, All Weather Insulated Panels introduced two new mineral wool panels to its existing category of fire-rated insulated metal panels. The pair of new mineral wool panels—HE42-MW and PL42-MW—are noncombustible and provide hourly ratings. However, alternative products such as other structural insulated panels using different materials for the skins, phenolic panels, wood, concrete, bricks, and others for insulated metal panels are also available in the market. Products such as wood, concrete, and brick are highly used for walls. Concrete tile and asphalt tile find application in roofs. Concrete construction provides a more durable wall system than metal, and concrete walls do not rot when exposed to moisture. Also, concrete does not rust when exposed to moisture, unlike steel.
Various ecological and performance-driven advantages of wood make it an unparalleled choice for builders and architects. Tensile strength, electrical and heat resistance, and sound absorption are a few of the benefits of wood as a building material. Unlike concrete and metals, wood can be grown and regrown through natural processes.
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North America Insulated Metal Panels Market: Strategic Insights
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,618.39 Million |
| Market Size by 2030 | US$ 2,736.31 Million |
| Global CAGR (2022 - 2030) | 6.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Material
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The List of Companies - North America Insulated Metal Panels Market
Based on application, the North America insulated metal panels market is segmented into foamed-in place and rigid core. The foamed-in-place core is a pivotal component within insulated metal panels, representing a cutting-edge approach to building envelope insulation. This innovative core construction involves injecting a liquid insulating material, typically polyurethane or polyisocyanurate foam, between two metal panels, where it expands and solidifies to form a seamless and structurally integral bond.
Players operating in the North America insulated metal panels market focus on developing new, innovative, and high-quality products in order to fulfill the growing customer demand. Players are focusing on the design, construction, and advancement of insulated metal panels for walls, roofs, and other applications. They are developing high-quality insulated metal panels to overcome the growing energy, environmental, and economic challenges faced by the building industry in North America.
The major players operating in the North America insulated metal panels market are Coolstructures Inc, Metalcor Building Systems Inc, Cornerstone Building Brands Inc, Metal Sales Manufacturing Corp, Panexus Inc, Kingspan Group Plc, Nucor Corp, All Weather Insulated Panels, Brucha Gesellschaft mbH, and Vulcan Steel Structures Inc.
Based on material, the market is subsegmented into polyurethane, polyisocyanurate, mineral wool, polystyrene, and others. The polyisocyanurate segment accounts for the largest North America insulated metal panels market share. Polyisocyanurate foam stands as a reliable option within the realm of insulated metal panels, offering a robust solution to energy efficiency and structural integrity. Renowned for its exceptional thermal performance, polyisocyanurate foam is the core material in insulated metal panels, augmenting their insulating capabilities.
Insulated metal panels are versatile and are available in a variety of colors, finishes, accessories, sizes, and profiles. Insulated metal panels have high strength and durability, which allow them to support heavier load-bearing designs. They are resistant to wear and tear, weathering, and corrosion; hence, they require less maintenance over their lifespan. This results in lower cost of maintenance and less waste generated from repairs and replacements.