Insulated metal panels are structural panels used in the construction of buildings. They are sandwiched composite panels where a light-weight insulating foam core is inserted between the metal skins. These panels are light-weight, exhibit exceptional insulating properties, and can be installed easily and quickly. Due to its easy installation property, insulated metal panels are cost-effective and inexpensive as compared to other wall assemblies. They help in improving the energy efficiency of buildings and in reducing carbon footprint. They are generally used for construction of roofs and walls in commercial buildings, architectural buildings, cold storage buildings etc. Different panels with varying attributes are employed depending on the type of buildings for which they are used. The commercial & industrial segment includes recreational buildings, institutional buildings, government buildings, and manufacturing plants. These buildings require energy-efficient insulation and light-weight construction. Schools or power plants constructed with insulated metal panels benefit from energy efficiency. Architectural buildings require specially designed insulated metal panels, including the attributes required for commercial and institutional buildings such as higher insulation values, light-weight constructions, quick assemblies etc. Additionally, they require customization in shapes, colors, finishes, and fabrication such as bent corners, curved panels, and trim less ends. Insulated metal panels are a highly efficient option for applications that involve temperature control. In the food & beverage industry, where temperature is a crucial parameter, having a direct impact on the quality and perishability of the food articles, insulated metal panels demonstrate to be a cost-effective and beneficial option. Demand for insulated metal panels has been on the rise at a steady pace, due to the growing influence of sustainable building initiatives. However, with insulated metal panels, the choice of material used has a crucial role to play in the overall structural stability of the construction. Aluminum metal panels attached with galvanized steel fasteners have high chances of corrosion. Furthermore, insulated panels employed in buildings exposed to extreme temperatures possess high risks of undergoing deformation.
Based on application, the insulated metal panels market can be segmented into commercial & industrial, architectural, cold storage, and insulated roof. At present, the commercial & industrial buildings segment dominates the insulated metal panels market. It is projected to retain its position during the forecast period. The cold storage segment is anticipated to expand at a significant pace in the near future as temperature control, which is crucial in such buildings, can be easily achieved with the help of insulated metal panels.
Based on geography, the insulated metal panels market can be divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America presently dominates the market, owing to the availability of advanced technologies in the region. The U.S. contributes to a major share of the market in the region. Furthermore, Asia Pacific is projected to show significant growth during the forecast period, owing to its rapid industrial and infrastructural progress and economic development.
Key players operating in the insulated metal panels market are Metl-Span an NCI Building Systems company, Kingspan, MBCI, an NCI Building Systems company, Huntsman International LLC, ATAS International, Inc., Centria.
The insulated metal panels market is projected to provide lucrative opportunities, especially in Asia Pacific, led by the infrastructural, industrial, and economic development in the countries such as China and India in the region. Moreover, countries such as Japan and Korea are expected to contribute significantly to the insulated metal panels market in Asia Pacific.