Metal structural insulation panels market to amass modest returns from wall applications, Europe poised to crop up as a pivotal revenue pocket by 2024
Publisher : Fractovia | Published Date : 2019-02-22Request Sample
The global metal structural insulation panels (SIP) market growth, in the recent years, has been characterized by the ever-growing demand for energy efficient construction products that offer superior thermal protection particularly in colder regions or regions prone to hurricanes. In essence, metal SIPs are high-performance, energy efficient and cost-effective building panels used in walls, floors, and roofs of residential and commercial buildings. The product’s usage reduces time, money and workforce significantly for developers, apart from providing a high level of insulation to buildings and reducing the amount of energy generated for heating or cooling a space by up to 50%, lowering carbon emissions.
North America Metal Structural Insulation Panels Market, By End-Use, 2017 & 2024, (USD Million)
In accordance, the product has obviously found increased applications in cool temperate zones in the Northern Hemisphere where the demand for space-heating is significantly high. This has led to homeowners, architects and builders placing increased preference for metal SIPs, to contribute to maintaining a clean environment by reducing the amount of energy used in buildings, which would quite overtly impel metal SIP industry size.
Enumerating metal SIP market trends from wall structures:
Metal SIPs have been projected to find extensive deployment in wall construction, given the massive requirement for separate partitions in manufacturing facilities that consist of various departments, storages, and dispatch centers. Two of the most prominent parameters that need to be considered in wall construction are air and thermal leakage. Air leakage is an important factor in the building's energy consumption, introducing moisture loads on the structure, and contributing to poor indoor air quality through condensation as well as airborne pollutants, majorly impacting occupant thermal comfort and energy costs. Thermal leakage, through breaks or bridges, also affects the energy efficiency and indoor environmental quality of a home.
Air leakage as well as thermal leakage can be a result of low-quality construction materials, inferior design, poor workmanship, incorrect utilization of materials, structural damage, or local climate. In essence however, it has been observed that both these issues can be resolved to an appreciable extent by sheathing SIPs in metals. The requirement for this metal sheeting as wall linings has extensively surged in residential as well as industrial construction lately, which has paved the way for the growth of metal SIP industry share from walls. As a matter of fact, metal structural insulation panels market size from wall applications is expected to register a CAGR of 3% over 2018-2024.
Speaking of the regional spectrum, it is quite discernible that the industry will experience substantial growth in the colder geographies. It therefore comes as no surprise that Europe is poised to emerge as one of the most remunerative regional grounds for the growth of the metal SIP market. According to estimates, the Europe metal structural insulation panels industry size is anticipated to record a CAGR of 2.5% over 2018-2024, powered by the escalating demand for distribution centers in the region in conjunction with the surging e-commerce sector. The construction industry has also been depicting a commendable inline in Europe lately, which would further foster the industry expansion in the years to come.
Another region that may generate waves of profitability for the global metal SIPs industry is Florida. Since metal SIPs are stronger than conventional construction frames, most homes in Florida are equipped with metal SIPs designed to combat unexpected hurricanes. Indeed, these products are known to survive wind loads as high as 155 MPH for barrier islands. As per a study, metal SIPs could withstand 9,000 wind cycles up to 200 mph with no damage, as the metal sheath on the panel top acts as a moisture as well as vapor barrier, blocking rain damage even if the roof covering is blown off. The metal sheath on the underside of the panel is also water proof and virtually indestructible, thus making metal SIPs ideal to be used in numerous residential and commercial construction projects in Florida, augmenting the regional metal structural insulation panels industry size.
With a robustly changing environment scenario, SIPs are now beginning to make a bigger impact on the construction industry as self-builders and developers strive to find economic and energy efficient alternatives to the more traditional methods in order to comply with stringent regulatory norms. As building regulation requirements continue to change in accordance with environmental concerns and energy-efficiency in construction becomes more profound than ever, the global metal SIPs market graph is certain to exhibit an exponential growth in the years to come.
