According to the report by Allied Market Research, the US and Mexico insulated panels industry was estimated at $634 million in 2018 and is expected to hit $1.01 billion by 2026, registering a CAGR of 5.9% during 2019–2026. The report offers key drivers that propel the growth in the global Spandex market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
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Based on geography, the U.S region generated the major share in 2018, holding nearly two-thirds of the total US and Mexico insulated panels market. This is attributed to the presence of the key players such as Kingspan, American Insulated Panels, and All Weather Insulated Panels (AWIP) in the region. Simultaneously, Mexico would cite the fastest CAGR of 6.3% throughout the estimated period. Rapid growth of construction activities in the region has led to a high demand for insulated panels in restaurants and cold storages.
Based on skin material, the steel-steel segment accounted for more than two-thirds of the total US and Mexico insulated panels market share in 2018 and is anticipated to rule the roost till 2026. Growth of frozen food market in the U.S. and Mexico and rapid urbanization are the major two factors that boost the usage of these insulating panels. On the other hand, the steel-cardboard segment is projected to grow at the fastest CAGR of 8.1% during the forecast period. This is attributed to its added benefits such as lost cost of insulated panels, structural strength, and lightweight nature which have increased the demand for steel—cardboard material in the region.
Rapid urbanization & globalization, and increase in demand for refrigerated vehicles & cold storage containers fuel the growth of the US and Mexico insulated panels market. On the other hand, its easy vulnerability to pest attacks restrains the growth to some extent. However, the eco-friendly nature of insulating panels is expected to create a number of lucrative opportunities for the key players in the industry.
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Based on end-use industry, the construction segment contributed to one-third of the total US and Mexico insulated panels market revenue in 2018 and is expected to lead the trail throughout 2019–2026. High investments made by the government in infrastructure, energy, and commercial construction projects have led to the growth of the segment. At the same time, the cold storage segment is anticipated to grow at the highest CAGR of 6.8% during the study period. This is due to the rise in demand for cold storage in supermarkets, convenience stores, butcheries, and restaurants.
Key market players-
- All Weather Insulated Panels
- Alply Inc.
- Laminators Inc.
- Centria
- Advanced Insulation Concepts Inc.
- Industrias Unypanel SA DE CV
- Ecostruct Panel Systems
- Green Span Profiles
- Butler Manufacturing
- Metecno SPA
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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