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In 2023, the average cost of installing insulated metal panels ranged from $10 to $15 per square foot, depending on the project scope and location.
CHICAGO, CA, UNITED STATES, September 19, 2024 /EINPresswire / -- The U.S. insulated metal panels (IMP)
market is experiencing significant growth, with its market value reaching US$ 2,370.45 million in 2023. According to recent projections, the market is set to expand at a compound annual growth rate (CAGR) of 10.88% during the forecast period from 2024 to 2032, reaching a market valuation of US$ 5,983.77 million by 2032.
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The increasing demand for energy-efficient building materials, along with the growing focus on sustainability in the construction industry, is driving the adoption of insulated metal panels. These panels are widely used in commercial, industrial, and residential applications due to their superior thermal performance, durability, and cost-effectiveness.
In addition, stringent building codes and energy efficiency regulations are fueling the demand for IMPs, particularly in the U.S. construction sector. As more builders and developers prioritize green building certifications, insulated metal panels are becoming an essential component in achieving energy savings and reducing carbon footprints.
Market Dynamics
Driver: Growing Demand from Construction Sectors for Energy-Efficient Building Solutions
The demand for energy-efficient building solutions in the construction sector is soaring in the US insulated metal panels market, driven by stringent energy codes and consumer preferences for sustainable practices. In 2023, the construction industry in the U.S. saw an investment of $1.5 trillion, with a significant portion allocated to green building projects. With over 20,000 LEED-certified projects in the U.S., the focus on reducing carbon footprints is evident. The push for net-zero energy buildings has led to the development of over 6,000 such projects nationwide. Insulated metal panels (IMPs) have become central to this trend, given their superior thermal efficiency. The increased adoption of IMPs is further emphasized by the fact that more than 30 states have now adopted the latest energy codes, requiring higher insulation standards. In 2023, over 50 million square feet of IMPs were installed in commercial buildings, highlighting their growing significance in the sector.
Moreover, the demand is not just limited to new constructions but extends to retrofitting existing buildings in the insulated metal panels market. With over 5 million commercial buildings in the U.S. and many aging infrastructures, the potential for retrofitting with energy-efficient solutions like IMPs is vast. The federal government's investment of $200 billion in sustainable infrastructure projects further underscores the commitment to energy-efficient solutions. In urban areas, where space constraints and energy demands are higher, IMPs have been used in over 10,000 high-rise buildings. The construction sector's shift towards energy efficiency is also evident in the rising number of green building certifications, which reached over 100,000 in 2023. This growing demand aligns with the global push towards sustainability, where the U.S. plays a pivotal role.
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Top Players in US Insulated Metal Panels Market
.ATAS International
.Brucha
.Green Span
.Kingspan Group Plc.
.KPS Global
.Metal Sales Manufacturing Corp.
.Metlspan
.Nucor Corp.
.TATA Steel
.Vulcan Steel Structures Inc.
.Other Prominent Players
Market Segmentation Overview:
By Product Type
.Insulted Metal Wall Panels
.Insulated Metal Roof Panels
By Insulation Material
.PIR (Polyisocyanurate) Rigid Foam
.Mineral Wool (MW)
.Extruded (XPS) Polystyrene
By Shape
.Flat
.Spherical
By Metal Type
.Aluminum
.Steel
By Thickness
.2-4 Inches
.4-6 Inches
By Application
.Floor
.Wall
.Roof
.Others
By End Users
.Commercial & Industrial
.Residential
.Cold storage
.Warehouses
.Healthcare Facilities
.Data Centers
.Others
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