Market Trends of Metal-faced Insulated Panel Industry
This section covers the major market trends shaping the Metal Faced Insulated Panel Market according to our research experts:
The Industrial Segment to Dominate the Market
- In modern-day construction, the use of insulation materials is essential for industrial construction applications. The specific demand for energy in industrial buildings can be significantly reduced with modern insulation.
- The scope of applications is extremely diverse and even includes the construction of industrial buildings using insulated roof and wall panels. In industrial applications, building insulation materials witness major demand from cold storage buildings and warehouses.
- The number of cold storage operations that are meant to extend and ensure the shelf life of fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs is rapidly increasing.
- This rapid increase in the number of cold storage facilities is due to the growing demand from consumers, which is a result of the changing lifestyles and advanced technologies.
- The expansion of retail food chains by multinational companies has led to an increase in the demand for cold storage. These factors, in turn, are expected to augment the demand for building insulation materials across the region. For instance, the US retail giant Walmart plans to invest around CNY 8 billion (USD 1.2 billion) into its distribution centers in China over the next two decades.
- Based on the aforementioned aspects, the Industrial segment is expected to dominate the market in the forecast period.
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The Asia-Pacific Region to Lead the Market Growth
- The Asia-Pacific construction sector is the largest in the world and is growing at a healthy rate, owing to the rising population, increase in middle-class incomes, and urbanization.
- Increasing infrastructure construction activities and the entry of major players from the European Union into the lucrative market of China, India, and ASEAN have further fueled the industry's expansion.
- China's construction industry developed rapidly in the recent past. However, the country is now reeling under the Evergrande Debt struggle that many expect to put China under recession.
- India and ASEAN countries have also been focusing on infrastructure development.
- Also, restrictions on foreign investment in land development, high-end hotels, office buildings, international exhibition centers, and the construction and operation of large theme parks have been lifted in the region.
- The growth in the infrastructure and transportation sectors is expected to boost the metal-faced insulated panels market in the country over the forecast period.
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