North America Insulated Metal Panels Market Size and Forecasts, Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material, Core Type, Application, and End Use

The North America insulated metal panels market size was valued at US$ 1.61 billion in 2022 and is expected to reach US$ 2.73 billion by 2030; it is estimated to register a CAGR of 6.8% from 2022 to 2030.

Insulated Metal Panels (IMPs) are lightweight composite exterior wall and roof panels that have two layers of coated thin sheet metal (usually steel or aluminum) wrapped around a rigid foam core to form a stiff composite. IMPs provide strong thermal and moisture resistance. Insulated metal panels provide numerous advantages over conventional building materials. Contractors, designers, and owners of industrial, commercial, and refrigerated buildings have relied on insulated metal panels for ease of installation, excellent thermal efficiency, and overall structural integrity.

Based on material, the insulated metal panels market is segmented into polyurethane, polyisocyanurate, mineral wool, polystyrene, and others. The polyisocyanurate segment accounts for the largest insulated metal panels market share. Polyisocyanurate foam stands as a reliable option within the realm of insulated metal panels, offering a robust solution to energy efficiency and structural integrity. Based on core type, the insulated metal panels market is segmented into foamed-in-place and rigid core. Foamed-in place segment accounts for the largest insulated metal panels market share. The foamed-in-place core is a pivotal component within insulated metal panels, representing a cutting-edge approach to building envelope insulation. Based on application, the insulated metal panels market is segmented into roof, wall, and others. The wall segment accounts for the largest share. Insulated metal panels have become a cornerstone in modern wall construction, offering a multifaceted solution to the evolving needs of modern construction. Based on end use, the insulated metal panels market is segmented into construction, cold storage, food & beverage, pharmaceutical, automotive, and others. The cold storage segment accounts for the largest share. Insulated metal panels have become a popular choice for cold storage facilities due to their exceptional thermal insulation properties and durability.

In 2022, the US dominated the North America insulated metal panels market. The construction industry is one of the largest contributors to the US economy. According to the US Census Bureau, in January and February 2022, spending on building and construction projects in the public and private sectors of the US amounted to US$ 237.8 billion, reporting a growth of 10.4% compared to the same period in 2021. Thus, a surge in construction activities is propelling the insulated metal panels market growth in the country. Further, various players operating in the market are focusing on strategies such as new product launches and mergers & acquisitions. For instance, in June 2021, Nucor Corporation announced that it had signed a definitive purchase agreement to acquire Cornerstone Building Brands' insulated metal panels business. This acquisition is expected to accelerate Nucor Corporation's vision to broaden the value-added solutions that the company provides to its targeted end markets.

Coolstructures Inc, Metalcor Building Systems Inc, Cornerstone Building Brands Inc, Metal Sales Manufacturing Corp, Panexus Inc, Kingspan Group Plc, Nucor Corp, All Weather Insulated Panels, Brucha Gesellschaft mbH, Vulcan Steel Structures Inc. are key players operating in the North America insulated metal panels market. Market players focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities and new product launches.

The overall North America insulated metal panels market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America insulated metal panels market.

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