Mexico Insulation Panel Market size is forecast to reach $1021.02 million by 2025, after growing at a CAGR of 5% during 2020-2025. Insulation panels are made by sandwiching insulated foam between two skin materials owing to which insulation for residential housing solutions has become affordable and cost-effective. The most common application of insulated panels is cold rooms and vehicle refrigerators. Due to an increase in demand for refrigerated vehicles and cold storage containers, utilized for shipping food, the demand for insulated panels in the Mexican region will further lead the growth of Mexico Insulation Panel Market in the forecast era.
Foam Type – Segment Analysis
Polystyrene foam is extensively used in Mexico Insulation Panel Market. Polystyrene is a durable, thermoplastic foam that is an ideal material for the insulation of sound and temperature. Polystyrene foam is usually produced or cut into blocks, ideal for insulating walls. The foam is flame-retardant and must be covered in a fireproof chemical called hexabromocyclododecane. Owing to its good thermal insulation property it is widely used in the construction industry. The demand for insulated panels based on the polystyrene content is expected to see rapid growth due to its excellent properties such as high insulation, fire resistance, moisture, and chemical inertia, lightweight design, and strong compressive strength compared to other types of foam. Due to this property, the market is anticipated to enhance in the forecast era.
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Application – Segment Analysis
Residential construction held the largest share Mexico Insulation Panel Market in 2019 and is projected to grow at a CAGR of 6% during the forecast period 2020-2025. Insulated panels are prefabricated isolating devices that are used in both residential and commercial construction of walls, floors, ceilings, and roofs. Implementation of insulated panels in building construction has resulted in the creation of greener and more reliable buildings, as they are energy-efficient, cost-effective, and structurally solid and also it helps in saving the construction time, money, and labor. The demand for the use of insulated panels in the construction industry has increased as it replaces the conventional stick frame construction. Also, structural insulated panels are prefabricated construction materials which facilitate and speed up the installation process without compromising construction quality. Also, optimized cost, higher insulation, and lightweight property provided by structural insulated panels are expected to propel their commercial construction demand and hence drive the Mexico Insulation Panel Market in the forecast period.
Drivers –Mexico Insulation Panel Market
Use of Insulation in refrigerated vehicles
Thermal insulation is required to allow new and used refrigerated vehicles to have a consistent desired temperature. Refrigerated trucks are used to transport goods, equipment, and medical supplies that are sensitive to temperature. These are also used to transport animals, insects, and fresh, perishable food. For void-free insulation and to avoid sweating over the surfaces proper insulation is required. As a consequence, the atmosphere in which they are transported must maintain a constant degree of temperature. In refrigerated vans, thermal insulation is used to maintain the cold temperature produced by the refrigerating unit within the vehicle. Also, the proper temperature can be maintained with minimum heat loss through the use of proper insulation. Owing to its good thermal insulation, low moisture pick-up, high mechanical strength, and appropriate weight/strength ratio, Mexico insulation panel is widely used in a variety of refrigerated vehicles, which will drive the market in the forecast period.
Increasing demand for eco-friendly insulation panels
The use of eco-friendly insulation panels in Mexico is intended to improve energy efficiency in buildings. These not only provide greater comfort but also perform essential tasks such as heat insulation, humid proofing, fire safety, and noise insulation. Extraction, manufacture, processing, and disposal of eco-friendly insulation panel’s raw materials requires less energy than conventional insulating materials, and they pose a low risk to waterways and soil. Eco-friendly insulation panels consist of renewable raw materials and are 100 percent recyclable. Also, cellulose is considered as the most well-known material for environmentally friendly insulation. Hence the increasing use of eco-friendly insulation panels in buildings will drive the market for Mexico Insulation Panel.
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Challenges –Mexico Insulation Panel Market
Resistance to water and moisture
Intake of water or moisture can significantly increase the thermal conductivity of some insulants. The thermal conductivity of some fibrous materials increases sharply by about 85% at about 1% moisture content per volume. In applications such as perimeters or roofs, this can lead to substantially higher heat transfer through the insulation panels. Moisture may be transferred as water vapor, liquid water, or as snow in solid form into insulation materials or an enclosed area. All the insulation materials examined absorb water when exposed to moisture, but with substantial differences in wetting and drying ability. Moisture absorbed in insulations often has a degree of negative impact on both the ability of thermal insulation and surrounding structures. Securing a continuous dry chain with adequate protection of building materials is essential, enabling drainage of structural moisture by designing structures with drying outwards.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Mexico Insulation Panel Market. Major players in the Mexico Insulation Panel Market 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. among others.
Demand for cold storage of frozen poultry & meat, ice-cream & dairy products, frozen fruits & vegetables, and chemical storage growing in Mexico, due to rapid industrialization will fuel market growth over the forecast period.
Rising demand for inorganic additives in a wide range of applications such as textiles, paints, polymers, and coatings to inhibit the spread of germs and bacteria is anticipated to propel the market growth during the forecast period.
Due to the COVID-19 palindrome Insulation companies, scaled down the production of insulation panels. Owing to nationwide shutdown, movement of the raw material required for insulation panel making is being impacted in Mexico.
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