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Composite Insulated Panels Market Size (2024 - 2029)

The Composite Insulated Panels Market is projected to experience growth over the forecast period, driven by increasing demand from the construction sector and rising cold storage applications. Despite challenges posed by advancements in building technologies like modular construction, the market is expected to benefit from opportunities arising from smart city developments. The market's expansion was initially hindered by the COVID-19 pandemic, which disrupted manufacturing and supply chains, but recovery was observed in subsequent years. North America currently leads in market consumption, while the Asia-Pacific region is anticipated to exhibit the most significant growth rate.

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Market Size of Composite Insulated Panels Industry

Composite Insulated Panel Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 546.87 Million
Market Size (2029) USD 711.69 Million
CAGR (2024 - 2029) 5.41 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Composite Insulated Panel Market Major Players

*Disclaimer: Major Players sorted in no particular order

Composite Insulated Panels Market Analysis

The Composite Insulated Panels Market size is estimated at USD 546.87 million in 2024, and is expected to reach USD 711.69 million by 2029, growing at a CAGR of 5.41% during the forecast period (2024-2029).

The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.

  • Over the short term, increasing demand from the construction sector and increasing cold storage applications are some of the factors driving the growth of the market studied.
  • On the flip side, advancements in building technologies such as modular construction techniques are likely to hinder the growth of the market.
  • However, growing smart city constructions are anticipated to provide numerous opportunities over the forecast period.
  • North America dominated the market in terms of consumption, however, Asia-Pacific is expected to have the highest CAGR during the forecast period.

Composite Insulated Panels Industry Segmentation

Composite insulated panels are high-performance building systems for the construction industry, which majorly used composite-based skin materials. The composite insulated panels market is segmented based on product, application, skin material, and geography. By product, the market is segmented into expanded polystyrene panel, rigid polyurethane and rigid polyisocyanurate panel, glass wool panel, and other products. By application, the market is segmented into building wall, building roof, and cold storage. By skin material, the market is segmented into continuous fiber reinforced thermoplastics, and fiberglas reinforced panel. The report also covers the market size of and forecasts for the structural insulated panels market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).

Product
Expanded Polystyrene (EPS) Panel
Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel
Glass Wool Panel
Other Products (Extruded Polystyrene Foam)
Application
Building Wall
Building Roof
Cold Storage
Skin Material
Continuous Fiber Reinforced Thermoplastics (CFRT)
Fiberglass Reinforced Panel (FRP)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Composite Insulated Panels Market Size Summary

The Composite Insulated Panels Market is poised for significant growth over the forecast period, driven by increasing demand from the construction sector and expanding cold storage applications. The market experienced a downturn due to the COVID-19 pandemic, which caused manufacturing shutdowns and supply chain disruptions. However, it rebounded in 2021, with the construction industry playing a pivotal role in its recovery. The market is characterized by its fragmented nature, with key players such as Kingspan Group, Rautaruukki Corporation, Balex-Metal, PFB Corporation, and Owens Corning leading the charge. Despite advancements in building technologies like modular construction techniques posing potential challenges, the rise of smart city constructions is expected to offer substantial opportunities for market expansion.

Regionally, North America has been a dominant force in the market, with the United States leading due to robust construction activities and significant investments in public infrastructure. The Canadian construction industry is also contributing to market growth, with an increase in dwelling units under construction. Meanwhile, the Asia-Pacific region is anticipated to witness the highest growth rate, driven by rapid industrial development and extensive construction projects in countries like China and India. The demand for composite insulated panels is further bolstered by government initiatives and support in the residential sector, particularly in India, where substantial funds have been allocated for housing projects. These factors collectively underscore the market's potential for growth and the increasing importance of composite insulated panels in building and construction applications.

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Composite Insulated Panels Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Construction Sector

      2. 1.1.2 Increasing Cold Storage Applications

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Advancements in Building Technologies, such as Modular Construction Techniques

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Product

      1. 2.1.1 Expanded Polystyrene (EPS) Panel

      2. 2.1.2 Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel

      3. 2.1.3 Glass Wool Panel

      4. 2.1.4 Other Products (Extruded Polystyrene Foam)

    2. 2.2 Application

      1. 2.2.1 Building Wall

      2. 2.2.2 Building Roof

      3. 2.2.3 Cold Storage

    3. 2.3 Skin Material

      1. 2.3.1 Continuous Fiber Reinforced Thermoplastics (CFRT)

      2. 2.3.2 Fiberglass Reinforced Panel (FRP)

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle East and Africa

Composite Insulated Panels Market Size FAQs

The Composite Insulated Panels Market size is expected to reach USD 546.87 million in 2024 and grow at a CAGR of 5.41% to reach USD 711.69 million by 2029.

In 2024, the Composite Insulated Panels Market size is expected to reach USD 546.87 million.

Composite Insulated Panels Market Report Snapshots

Composite Insulated Panels Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)