North America Rigid Foam Panels Market is expected to reach US$ 9,136.60 million by 2030

Increasing Deployment of Rigid Foam Panels Drives North America Rigid Foam Panels Market Growth

According to the latest market study on “North America Rigid Foam Panels Market Analysis & Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Material, Application, End Use, and Geography," the market was valued at US$ 6,361.22 million in 2022 and is expected to reach US$ 9,136.60 million by 2030; it is estimated to register a CAGR of 4.6% from 2022 to 2030. The report highlights key factors fueling the North America rigid foam panels market size and developments of prominent players operating in the market.

Rigid foam panels are widely utilized across North America for their exceptional thermal insulation properties, structural stability, and versatility in various construction applications. These panels, typically made from materials like expanded polystyrene (EPS), extruded polystyrene (XPS), or polyisocyanurate (polyiso), offer superior thermal resistance, making them ideal for enhancing energy efficiency in buildings. In North America, rigid foam panels find extensive use in both residential and commercial construction projects, including new builds, renovations, and retrofitting initiatives. In residential construction, rigid foam panels are commonly used for insulating exterior walls, roofs, and foundations, helping to create airtight and well-insulated building envelopes. These panels contribute to reducing heat loss in winter and heat gain in summer, thereby improving indoor comfort and lowering heating and cooling costs for homeowners. Additionally, rigid foam panels are utilized in interior applications such as basement insulation, soundproofing, and interior wall panels, offering effective thermal and acoustic insulation properties. Additionally, in commercial construction, rigid foam panels play a critical role in meeting stringent energy codes and sustainability standards. They are used in roofing systems, wall assemblies, and insulated concrete forms (ICFs), providing durable and high-performance insulation solutions for commercial buildings, offices, warehouses, and industrial facilities. The lightweight nature of rigid foam panels facilitates ease of installation, reducing labor costs and construction timelines, while their superior insulation properties contribute to energy savings and operational efficiency over the life of the building.

North America Rigid Foam Panels Market Size Breakdown – by Region

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Major factors driving the North America rigid foam panels market growth are the increasing demand for rigid foam panels in the building and construction industry and the growing cold storage applications of rigid foam panels. Rigid foam panels are valued for their exceptional thermal insulation properties, structural stability, and versatility, making them indispensable in a wide range of construction applications. As the construction industry continues to prioritize energy efficiency, sustainability, and building performance, the demand for high-quality insulation materials like rigid foam panels is on the rise. One of the primary drivers of demand for rigid foam panels is the growing emphasis on energy-efficient building practices and regulations. Governments and regulatory bodies worldwide are implementing stringent energy codes and standards aimed at reducing greenhouse gas emissions and improving building energy performance. Rigid foam panels play a crucial role in meeting these requirements by providing effective thermal insulation for building envelopes, helping to minimize heat loss in winter and heat gain in summer. As builders and developers strive to construct energy-efficient, green buildings, the demand for rigid foam panels as a key component of insulation systems continues to increase.

Furthermore, the construction industry's shift towards sustainable and environmentally friendly building materials further drives demand for rigid foam panels. Many rigid foam panels are manufactured using recycled materials and are themselves recyclable at the end of their lifecycle, aligning with the principles of sustainability and circular economy. Additionally, rigid foam panels contribute to reducing the overall carbon footprint of buildings by improving energy efficiency and reducing reliance on fossil fuels for heating and cooling. As environmental concerns become more prominent, architects, builders, and property owners increasingly turn to rigid foam panels as a sustainable insulation solution that offers long-term benefits for both the environment and building occupants. Additionally, the North America rigid foam panels market trends include the development of sustainable rigid foam products.

Owens Corning, Perma R Products Inc., Carlisle Companies Inc., Kingspan Group Plc, DuPont de Nemours Inc, General Plastics Manufacturing Co, Insulation Depot Inc, Metro Home Insulation LLC, Gold Star Insulation LP, and Johns Manville Corp. are among the prominent players profiled in the North America rigid foam panels market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The North America rigid foam panels market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.

The North America rigid foam panels market study aims to provide an overview of the market with detailed market segmentation. The market is segmented on the basis of material, application, and end-use. Based on material, the market is further segmented into polyurethane, polystyrene, polyisocyanurate, and others. Polyurethane rigid foam panels represent a significant segment within the broader rigid foam panels market, offering a versatile and high-performance insulation solution across various industries. These panels are characterized by their exceptional thermal insulation properties, lightweight nature, and structural strength, making them a preferred choice for applications in the construction, automotive, and refrigeration sectors.

In construction, polyurethane rigid foam panels are extensively utilized for insulating roofs, walls, and floors of buildings, effectively reducing energy consumption and enhancing indoor comfort levels. Their ability to create airtight seals also contributes to superior energy efficiency. Moreover, in the automotive industry, polyurethane rigid foam panels find applications in vehicle interiors, providing acoustic insulation and structural support while ensuring not adding much weight to the overall vehicle; this, in turn, aims at improving fuel efficiency. Additionally, in refrigeration and cold chain logistics, these panels play a crucial role in maintaining temperature-controlled environments for storing perishable goods, thus ensuring product quality and safety. Based on application, the market is subsegmented into insulation, structural, decorative, and others. The insulation segment accounts for the largest North America rigid foam panels market share. Rigid foam panels have a high insulation value, which makes them ideal for use in buildings and other applications where thermal insulation is needed. Rigid foam panels are commonly used as insulation materials in roofs, walls, and floors in the building and construction industry. The benefits of rigid foam panel insulation are enhanced moisture control, continuous insulation, and its ability to address thermal bridging. In terms of end use, the rigid foam panels market is segmented into construction, cold storage, food and beverage, pharmaceutical, automotive, and others. The construction segment accounts for the largest North America rigid foam panels market share. The rising cost of energy in North America has swayed home builders toward the use of thermally efficient insulators such as rigid foam panels. The most common rigid foam panels used as thermal insulators for building and construction uses are made from expanded polystyrene (EPS), extruded polystyrene (XPS), and polyisocyanurate. Rigid foam panels can significantly reduce a building's energy use and lead to controlling indoor temperature. Rigid foam panels are used to reduce the heat transfer between the house interior and the external environment. Their use in the construction of houses and buildings reduces the energy needed for heating and cooling the interior spaces.

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