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Metal -Faced Insulated Panel Market Size Forecast to Reach $571.3 Million by 2026

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Metal-faced insulated panel market size is forecast to reach $571.3 million by 2026, after growing at a CAGR of 6.8% during 2021-2026. Polyurethane (PUR), blowing Agents, polyisocyanurate (PIR), mineral wool (MW), and polystyrene (PS) based metal-faced insulated panels are the most adaptable and lightweight building materials. The panels offer flexibility and high performance. The metal-faced insulated panels have various advantages including sustainability, design flexibility, energy-efficient, fire-resistant, economical, and more and these properties are expected to increase the market demand. 

Globally, the flourishing commercial and residential sector is the prime growth driver of the prefabricated building systems market. In addition, government initiatives are flourishing the residential and commercial building sector, which is anticipated to play a key role in driving the metal-faced insulated panel industry during the forecast period.

COVID-19 Impact

Various building and construction activities across the globe came to a halt due to the unavailability of raw materials, shortage of labor, and other reasons. No new orders can be taken over and no existing order production could be completed, which is adversely affecting the metal-faced insulated panel market growth during the outbreak. There has been a temporary suspension of building and construction activities in various regions. 

For instance, the construction output in Great Britain fell by a record 35.0% in Quarter 2 (Apr to June) 2020 compared with Quarter 1 (Jan to Mar) 2020. This value decline was due to the Corona Virus pandemic. With the decrease in building and construction operation, the demand for Polyurethane (PUR), blowing Agents, polyisocyanurate (PIR), mineral wool (MW), and polystyrene (PS) based metal-faced insulated panels have significantly fallen, which is having a major impact on the metal-faced insulated panel market.

Metal-Faced Insulated Panel Segment Analysis – By Product Type

The stainless steel and aluminum segment held a significant share in the metal-faced insulated panel market in 2020. Due to its strength, superior impact characteristics, and clean polished finish, stainless steel is mostly used in high traffic areas and spaces with higher span distances. Due to its oxidation mechanism, which prevents the material from rusting, stainless steel is very common. Aluminum, however, is very popular, inexpensive, and durable as well. While aluminum is not cheaper than steel, in coastal environments, its life-cycle quality is much higher. These comprehensive features of stainless steel and aluminum are the key factor expected to increase the demand for stainless steel and aluminum-based metal-faced insulated panels during the forecast period.

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Metal-Faced Insulated Panel Segment Analysis – By Core Material

The polyisocyanurate (PIR) segment held the largest share in the metal-faced insulated panel market in 2020. The polyurethane variant with better, improved fire resistance efficiency is polyisocyanurate rigid foam because of the difference in its structure. It avoids the spread of flames under elevated temperatures. Using PIR panels, structures with especially stringent fire resistance specifications may therefore be erected. Thus, PIR is recognized by various end-use industries as a fire-safe alternative to other foam cores such as polyurethane. 

As the insulating core, over 90 percent of all panels used externally for roofs or walls have polyisocyanurate rigid foam. These insulation materials are amongst the best as they have a closed-cell insulation formulation structure. All these extensive characteristics of polyisocyanurate are the key factor anticipated to boost the demand for polyisocyanurate-based metal-faced insulated panels during the forecast period.

Metal-Faced Insulated Panel Segment Analysis – By Application

The exterior segment held the largest share in the metal-faced insulated panel market in 2020, owing to the increasing usage of Polyurethane (PUR), blowing Agents, polyisocyanurate (PIR), mineral wool (MW), and polystyrene (PS) based metal-faced insulated panels in exterior (roofs and wall claddings) of buildings such as in retail and warehouses, industrial units, education and health buildings, and more. The metal-faced insulated panels are designed with exceptional inherent strength which reduces the need for secondary supporting steelwork, due to which they are generally employed in the exterior of buildings. In addition, they create more usable space in a building by offering superior properties such as insulation, lightweight, fire-resistant while improving the appearance of building, which is the major factor driving the demand for metal-faced insulated panels in exterior applications during the forecast period.

Metal-Faced Insulated Panel Segment Analysis – By End-Use Industry

The commercial building segment held the largest share in the metal-insulated panel market in 2020 and is growing at a CAGR of 8.9% during 2021-2026, owing to the increasing usage of the metal-faced insulated panel in various industries. One of the most adaptable and lightweight building materials is metal-faced insulated panels. Flexibility and high performance are supported by the tables. Another factor driving the demand is the protection offered by metal-faced insulated panels against warmer climates. Due to their inherent advantageous characteristics, such as high thermal and chemical resistance, longevity, low smoke emission, and excellent abrasion resistance, they are glued into the core metal facings (inner and outer) used in many industries. 

In recent years, numerous regions in European countries have been building new hospitals or expanding their initial foundation. The Prime Minister, for example, announced in October 2020 that 40 hospitals will be constructed as part of a £ 3.7 billion package by 2030. Also, as announced last year, 20 hospitals will earn an £ 850 million stake in upgrading obsolete facilities and equipment, with work already starting at many locations. Due to the increasing construction activities across the world, the usage of metal-faced insulated panels in the commercial building construction sector is projected to grow during the forecast period.

Metal-Faced Insulated Panel Segment Analysis – By Geography

Asia-Pacific region held the largest share in the metal-faced insulated panel market in 2020 up to 43% and is growing at a CAGR of 7.6% during 2021-2026, owing to the increasing demand for Polyurethane (PUR), blowing Agents, polyisocyanurate (PIR), mineral wool (MW), and polystyrene (PS) based metal-faced insulated panels from the commercial building industry in the region. China won the bid to host the Asian Cup 2023 football tournament in June 2019, since it plans to build nine new football-only stadiums by the end of 2021. Minor construction work is planned for the Beijing National Stadium, along with the Tianjin Olympic Centre Stadium, Hangzhou Olympic Sports Expo Centre Main Stadium, Changsha’s Helong Sports Centre Stadium, and Guangzhou Tianhe Sports Centre Stadium to deliver new stadiums by the end of 2021. 

The hospital industry in India, which accounts for 80 percent of the total healthcare market, is experiencing enormous investor demand from both foreign and domestic investors, according to Invest India. From $61.8 billion in 2017, the hospital industry is projected to hit $132 billion by 2023 after rising at a CAGR of 16-17 percent. Thus, the increasing government initiatives and investments are propelling the commercial building sector in the Asia Pacific, which will then boost the metal-faced insulated panel market in the region during the forecast period.

Metal-Faced Insulated Panel Market Drivers

Increasing Government Initiative Bolstering the Growth of Construction Industry

The building and construction industry is flourishing in countries such as India, and Singapore as governments are spending heavily on expanding the building and construction industry. Thailand’s construction industry is thriving, mainly driven by the government’s efforts to develop the country’s infrastructure and residential construction market. For instance, in 2019, the Thailand government allocated THB4 billion (US$125.6 million) to finance five low-cost housing projects in the country. Certain public-private partnership (PPP) projects are underway in Thailand as part of the Eastern Economic Corridor Act BE 2561 (2018) (EEC Act) of the Thai government, which will promote investment in the EEC. 

Also, the Government-wide program for a Circular Economy, aimed at developing a circular economy in the Netherlands by 2050 is boosting the construction sector in the country. Metal-faced insulated panels are energy-efficient, constant thermal resistant, high strength, sustainable, resistant to bacterial growth, owing to which they are tremendously used in the construction of residential and infrastructural buildings. Hence, with the increase in construction activities across the globe, the demand for Polyurethane (PUR), blowing Agents, polyisocyanurate (PIR), mineral wool (MW), and polystyrene (PS) based metal-faced insulated panels will be foreseen to grow enormously. Thus, such government investments and initiatives in the construction industry act as a driver for the market.

Various Advantages Related to Metal-Faced Insulated Panels

Metal-faced insulated panels are building materials that are highly adaptable and lightweight. Polyurethane (PUR), blowing Agents, polyisocyanurate (PIR), mineral wool (MW), and polystyrene (PS) based metal-faced insulated panels provide versatility and high production. In developed and developing countries, the construction industry has been expanding. During the forecast era, this is expected to fuel the metal-faced insulated panels market. Another factor driving the demand is the protection offered by metal-faced insulated panels against warmer climates. 

Custom shapes and widths, special custom colors and finishes, bent corners and other custom manufacturing, angled panels, and trimless ends are choices for the metal-faced insulated panels. For complete construction envelope solutions, these panels fit beautifully with windows, louvers, sunshades, and other items. They set architects free to build striking, one-of-a-kind structures. Its demand from the booming building and construction sector is growing due to these comprehensive advantages it provides. Thus, during the forecast era, these advantages relating to metal-faced insulated panels serve as an engine for market development.

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Metal-Faced Insulated Panel Market Challenges

Deformation in Extreme Weather Conditions

The metal-faced insulated panels can be damaged by moisture, and require special and careful protection. Another challenge faced by metal-faced insulated panels is pest resistance. Although the center is not a pest breeding ground, metal-faced insulated panels require adequate protection against pests. To solve this problem, the panels can be treated with boric acid or some other insecticide. In addition, special attention is to be paid to ventilation. Because of the high level of air-tightness, metal-faced insulated panels require an excellent ventilation system. Otherwise, the occupants’ health and safety could be affected. Also, factors such as fastener corrosion and deformation of metal-faced insulated panels in severe weather conditions are likely to restrict the market growth of metal-faced insulated panels during the forecast period.

Metal-Faced Insulated Panel Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the metal-faced insulated panel market. Major players in the metal-faced insulated panel market are Kingspan, Metecno, Assan Panel, Isopan, NCI Building Systems, TATA Steel, ArcelorMittal, Romakowski, Lattonedil, RigiSystems, Silex, Isomec, and Zhongjie Group.

Key Takeaways

Asia-Pacific dominates the metal-faced insulated panel market, owing to the increasing foreign direct investment (FDI) in the Asia Pacific countries which is driving the commercial building sector. According to the Department for Promotion of Industry and Internal Trade (DPIIT), hospitals and diagnostic centers attracted Foreign Direct Investment (FDI) worth US$ 6.72 billion between April 2000 and March 2020.

In the internal ceilings, walls & linings, and external envelopes, metal-faced insulated panels are used. The rigid foam of low density imparts lower combustibility, improved fire performance, and high levels of insulation. Features including energy savings and ease of installation have enhanced the growth of the metal-faced insulated panel market.

Huge investments are being made in the infrastructure sector to stimulate the region’s economy, owing to which the demand for the metal-faced insulated panel is projected to increase. This will boost the use of metal-faced insulated panels for residential as well as non-residential buildings.

Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the projects and operations of various industries such as construction are disruptively stopped, which is hampering the metal-faced insulated panel market growth.

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Website: https://www.industryarc.com
Phone: (+1) 970-236-3677