Composite Insulated Panels Market size is expected to grow at a CAGR of 6.1% during 2020-2025. Composite Insulated Panels, also known as factory engineered panels, mainly used for partitioning, exterior cladding, load bearing walls and roofing elements in a wide range of non-residential buildings. These Panels are manufactured on a continuous lamination basis with metal facings, usually aluminum or steel, encapsulate a foamed polyurethane core. This composition offers a high degree of rigidity, stability, and excellent load-bearing capacity.

Key Takeaways
The growing advancements in building technologies such as modular construction techniques and others are likely to propel the growth of the market.

Growth of the construction industry owing to urbanization & simplified utility, along with lower costs of insulated wall panels drive the growth of the market.

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By Application - Segment Analysis

Building walls application accounted for the highest market share in 2019. The growing construction projects with highly efficient and green materials, specifically for residential are expected to drive the demand for structural insulated panels in wall construction. The rising need for renovation of residential structures on account of improving living standards and high spending capacity is further likely to favor the structural insulated panels market growth. On the other hand, the other application such as cold storage is also rising due to the development in cold chain activities on account of increasing consumption for processed and packaged food in major economies, such as Asia Pacific and North America, has supported the demand for structural insulated panels.

Drivers – Composite Insulated Panels Market
The growing demand of lightweight panel with high thermal insulation properties for building walls.
The growth in use of composite insulated panels has been driven by the construction industry's need for a lightweight panel with high thermal insulation values and simple on-site installation. This requirement has been assisted by the technical development of rigid polyurethane foams offering very high insulation values, especially compared to site-assembled systems. Composite panels offer architects and specifiers an exciting dimension in the planning, costing and design of new and refurbished buildings. There is a wide and attractive choice of surface finishes available, both in terms of color and metallic coatings. Hidden joints, combination options with other materials and foamed moldings for roofs and walls enable buildings of striking architectural value and appearance to be created.

Market Landscape: Composite Insulated Panels Market top 10 companies are ATAS International Kingspan Group, Rautaruukki Corporation, Premier Building Systems, PFB Corporation, and Owens Corning, among others.

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