Market Size of Composite Insulated Panels Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 546.87 Million |
| Market Size (2029) | USD 711.69 Million |
| CAGR (2024 - 2029) | 5.41 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Composite Insulated Panels Market Analysis
The Composite Insulated Panels Market size is estimated at USD 546.87 million in 2024, and is expected to reach USD 711.69 million by 2029, growing at a CAGR of 5.41% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, increasing demand from the construction sector and increasing cold storage applications are some of the factors driving the growth of the market studied.
- On the flip side, advancements in building technologies such as modular construction techniques are likely to hinder the growth of the market.
- However, growing smart city constructions are anticipated to provide numerous opportunities over the forecast period.
- North America dominated the market in terms of consumption, however, Asia-Pacific is expected to have the highest CAGR during the forecast period.
