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Metal Structural Insulation Panels Market Regional Trend & Growth Projections by 2024

Author : Rahul Varpe | Published Date : 2019-08-16 

Europe Metal Structural Insulation Panels Market is expected to exceed USD 23 billion by 2024. Favorable government policies such as Nearly Zero Energy Buildings Program to improve the performance of commercial infrastructure is supporting the regional growth. For instance, On 30th November 2016, the European Commission proposed an update to the Energy Efficiency Directive for new construction by including a new target to improve the energy efficiency of buildings up by 30% by 2030.

Asia Pacific Metal structural insulation panels market will grow significantly owing to increased investments in R&D for construction of energy-efficient commercial & residential buildings. Industry participants are engaged in collaboration with contractors and builders to gain competitive edge. For instance, in August 2018, Kingspan announced to develop an energy-efficient warehouse for IKO Polymeric with Kingspan metal insulated panels. Kingspan collaborated with Roofdec Ltd to complete the project within the specified time and budget.

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Rapid industrialization coupled with cold storage industry expansion are driving the metal structural insulation panels market. Expanding frozen & processed foods demand owing to busy lifestyle, changing food preferences, and ease in cooking is escalating the demand for cold storage applications. According to Global Cold Chain Alliance (GGCA), the global cold storage capacity has increased to 616 million m3 in 2018.

Metal Structural Insulation Panels Market, by Application:

  • Walls
  • Roofs

Metal SIP Market, by End-Use:

  • Residential
  • Commercial
  • Non-Building

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Positive application outlook across the commercial & residential sector owing to high insulation advantages offered are further supporting the metal structural insulation panels market growth. Heating & cooling accounting for around 50% of the energy use in residential applications. Thus, structural insulated panels reduce the electricity expenses by improving the thermal efficiency. Growing demand for advanced building materials offering more durable and energy efficient buildings will drive the product demand.

Key players in the metal structural insulation panels market include:

  • Tata Steel
  • Kingspan
  • Thermasteel
  • MIB Facades Limited
  • Flexospan Steel Buildings
  • PermaTherm
  • LEEP Inc.
  • Direct Metals Co. LLC.

Related News: https://www.marketwatch.com/press-release/25-bn-industrial-cooling-system-market-insights-forecast-research-report-over-2019-2025-2019-08-16

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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