Rising Use of PUF Panels in Construction Activities Drives the PUF Panel Market Growth

PUF panels are extensively used in the construction industry as they are made with three separate elements. The PUF panel market is projected to exhibit substantial growth during the forecast period owing to the increasing construction projects across the globe. PUF panels protect interiors against extreme weather conditions, sound, and sudden breakout of fires. The PUF panel market is expected to grow with a CAGR of 6% during the forecast period on account of its rapid installation, coupled with cost-effectiveness and light weightiness compared to other sandwich panels.

Impact of COVID-19

The COVID-19 pandemic has created havoc across the globe. Several industries have got severely hit by the pandemic, one of which is the construction industry. As per the data provided by the ‘Office for National Statistics (ONS),’ in March 2020, the construction output fell by 5.9% in the U.K. Similarly, private new housing has decreased by 6.4% and private commercial construction fell by 7.1% in March 2020. However, the industry is estimated to recover in the first half of 2021. Countries such as Saudi Arabia, Oman, and Iraq with extreme temperatures are projected to be the largest consumers of PUF panels post-COVID-19.

Market Segments

1. By Type
   1. Coldwell Wall Panel
   2. Strupan Roof Panel
   3. Isoclad
2. By Foam Density
   1. Up to 40 kg/m3
   2. Above 40kg/m3
3. By Application
   1. Industrial Building
   2. Residential Buildings
   3. Commercial Buildings
   4. Cold Storage
   5. Warehouse