PUF panel is a polyurethane foam insulated sandwich, which can be used as an insulated roofing system and insulated wall, among others. They are manufactured by combining layers of insulated composite materials with binding agents. The insulation core in the panel provides effective and strong bonding for better structural stability, which helps in sustaining a higher load. PUF panels have the ability to protect the interior from fire hazards, sound, and other extreme weather conditions. In addition, lightweight, durability, strong insulating properties, and structural integrity of PUF panels make them preferred solutions for a number of applications.
PUF panels are cost-effective, easy to install, and require no maintenance, which makes them a feasible option over traditional panel systems. PUF panels are extensively used in cold storage warehouses, security cabin, and rural area construction. The end-user application of PUF panel includes food processing, cold storages, clean rooms, telecom services, fruit and vegetable storage, milk and dairy, floriculture, prefab buildings, security cabin, warehouses, ripening chambers, seafood, meat and poultry, and pharmaceutical industries, among others.
Size and Profiles of PUF Panel
As per the standards given by the building materials and technology promotion council (BMTPC):
Rapid Infrastructural Developments to Drive the Market Growth
Rapid infrastructural development in the developing nations is rising the demand for PUF panels as they are extensively used for roofing and wall boundary applications. Moreover, the need for rapid and easy construction solutions is expected to boost the market growth. Shifting consumer preference towards products with low carbon emission is projected to drive the demand for PUF panels in the upcoming years. The rural areas are the largest consumers of PUF panels as they are cost-effective and durable, further driving the market growth.
Europe to Offer Lucrative Opportunities for the Emerging Players in the PUF Panel Market
In the last few years, PUF panels have been witnessing a significant surge in demand in the warehouse application. Europe is projected to offer lucrative opportunities for the emerging players in the PUF panel market in the upcoming years. The consumers in the region are inclined towards the consumption of packaged foods and beverages, which require a temperature-controlled infrastructure, such as cold storage or warehouse.
PUF Panel Market: Segmentation
Surging Use of Coldwell Wall Panels for the Construction of Shelters and Warehouses Drives the Segment Growth
The PUF panel market has been segmented based on type, foam density, application, and region. By type, the market is segmented into coldwell wall panel, strupan roof panel, and isoclad. The coldwell wall panel segment holds the highest market share on account of its extensive use for the construction of shelters and warehouses. There are two types of coldwell wall panels available in the market, single groove panels and double groove panels. Single groove panels are suitable for general applications, such as building construction and shelters. Double groove panels are suitable for warehousing, cold room, and cold chamber. Double groove panels have precise interlocking and dimensional accuracy, and they also eliminate the risk of air gaps and thermal bridging.
Cold Storage Segment Dominates the Market during the Forecast Period
By the application, the PUF panel market is segmented into cold storage, warehouse, residential, industrial, and commercial buildings. The cold storage segment dominates the market. Increasing demand for PUF panels from the pharmaceutical and healthcare sectors for the construction of cold storage drives the segment growth. In addition, rising need for warehouses to store packaged foods and beverages provides an impetus to the market growth. The residential sector, on the other hand, holds the largest market share on account of increasing construction activities and rising demand for lightweight roofing.
Booming Construction Activities in the U.S. to Drive North America’s Market Growth
North America’s PUF panel market is backed by the booming construction activities in the region post-recession. As per the Associated General Contractors of America (AGC), the U.S. houses over 680,000 employers with over 7 million employees in the construction industry and creates around USD 1.3 trillion worth of structures each year. Also, the U.S construction sector contributes about 4.1% to the country’s GDP. In 2019, the total value of new private construction in the U.S. was around USD 974.7 billion. Thus, the increasing construction in the U.S. provides an impetus to the regional market growth.
India and China to Be the Frontrunners in Asia-Pacific’s PUF Panel Market
Asia-Pacific is projected to exhibit the highest growth in the PUF panel market as the region is bolstered by the presence of emerging countries such as China and India. Increasing number of large-scale residential and industrial infrastructural projects and rising government subsidies for rural construction activities drives the market growth. In India, the construction sector is projected to grow with a CAGR of 5.6% during the period 2015–2020, up from 2.9% from the fiscal year 2010–2015. As per the Statista, in January 2019, the construction sector of India contributed over USD 35.8 billion to the country’s GDP.
PUF Panel Market: Segmentation
By Foam Density
Frequently Asked Questions (FAQs)