Portland, OR -- (SBWIRE) -- 12/08/2017 -- According to a new report published by Allied Market Research, titled, Mexican Insulated Panels Market for Prefabricated Covers by Foam Type, Skin Material, and End-user Industry. The Mexican insulated panels market for prefabricated covers was valued at $3,505 million in 2016, and is projected to reach $5,207 million by 2022, growing at a CAGR of 6.71% from 2017 to 2022. The polyurethane foam type accounted for more than 60% share of the Mexican market in 2016.
Insulated panels are prefabricated high-performance insulated structures used in the construction of walls, floors, ceilings, and roofs. The use of insulated panels in construction industry replaces the conventional stick frame construction. These panels are preferred over conventional building material as they provide high performance and green building qualities, which help in saving building time, money, and labor. Insulated panels are manufactured by sandwiching an insulated foam between two skin layers. Polyurethane and polystyrene are some of the commonly used insulated foam materials in insulated panels. Cold storage is a major end use of insulated panels, as the demand for cold storage for frozen poultry & meat, ice-cream & dairy products, frozen fruits & vegetables, and chemical storage is increasing due to rapid industrialization in the Mexican region.
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The factors that drive the Mexican insulated panels market for prefabricated covers include high-paced urbanization and globalization, and increase in demand for refrigerated vehicles and cold storage containers. However, vulnerability to pests and susceptibility to moisture are expected to hamper this growth in the near future. The eco-friendly nature of insulating panels is expected to provide a major opportunity for market expansion.
By foam type, the market is divided into polyurethane foam, polystyrene, and others. Polystyrene registers the highest CAGR throughout the analysis period, owing to high moisture resistance, better fire retardant, chemically inert, lightweight, and high compressive strength.
By skin material, the market is divided into steel-steel, steel-cardboard, steel-vinyl ester, cardboard-cardboard, and others. Steel-cardboard skin material accounted for the highest CAGR, due to the better insulation of the core material as compared to steel-steel skin and the use of steel-cardboard insulated panels in cold storage transportation trucks.
By end-user industry, the market is divided into construction and cold storage. Cold storage is expected to grow at the highest CAGR throughout the analysis period, owing to the rapid growth in supermarket, convenience stores, butchery, and processing area in various food industries and restaurants.
Key Findings of the Mexican Insulated Panels Market:
- The polystyrene foam market is expected to grow at the high CAGR of 7.8%, in terms of revenue, from 2017 to 2022.
- The steel-cardboard and steel-vinyl ester segments are anticipated to be the fastest growing skin material, in terms of value, growing at a CAGR of 7.8% and 7.0% respectively.
- Central Mexico is expected to grow at the highest CAGR of 7.4%, in terms of value.
- The steel-steel skin material type segment occupied three-sevenths share in the Mexican market in 2016, in terms of value, and is anticipated to witness CAGR of 6.2%.
- The Northern sector and southern Mexico collectively contributed to two-thirds of the revenue in 2016 and are anticipated to grow at CAGRs of 7.1% and 6.4%, respectively.
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In 2016, construction end-user industry of insulated panels accounted for more than 60% of the Mexican insulated panels market for prefabricated covers, in terms of value. This is due to the growth in the Mexican economy, leading to rapid growth and development infrastructure. Cold storage is projected to grow at the highest CAGR of 8.7%, owing to increase in urbanization coupled with growth in frozen food industry in the Mexican region.
The major companies profiled in this report are Frigocel Mexicana, S.A. de C.V., Ternium, Metecno, Danica, Marcegaglia SpA, Unypanel SA de CV, Fanosa, S.A. de C.V., Thermopanel, Isocindu S.A. de C.V., and Kingspan Group plc.