Global Insulated Panels For Commercial Refrigeration Market Research Report: By Panel Type (Rigid Insulation Panels, Composite Insulation Panels, Structural Insulation Panels), By Insulation Material (Polyurethane (PUR/PIR), Polystyrene (EPS/XPS), Phenolic Foam, Mineral Wool), By Fire Resistance Rating (Class A, Class B, Class C), By Application (Walls, Roofs, Doors), By End-User Industry (Food and Beverage, Retail, Healthcare, Industrial) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecas

Global Insulated Panels For Commercial Refrigeration Market Overview

As per MRFR analysis, the Insulated Panels For Commercial Refrigeration Market Size was estimated at 15.34 (USD Billion) in 2022.

The Insulated Panels For Commercial Refrigeration Market Industry is expected to grow from 16.12 (USD Billion) in 2023 to 25.3 (USD Billion) by 2032. The Insulated Panels For Commercial Refrigeration Market CAGR (growth rate) is expected to be around 5.13% during the forecast period (2024 - 2032).

Key Insulated Panels For Commercial Refrigeration Market Trends Highlighted

The commercial refrigeration insulation panels market is on the rise due to growing demand for energy-efficient and eco-friendly storage. Increasing adoption of energy-saving norms, growth of food and beverage sector and the need for cold chain logistics are some of the important factors contributing to market growth. The insulated panels market provides ample opportunities for expansion. The development of more efficient technology like vacuum-insulated panels or new materials can also result in better performance with much energy. In addition, entering new geographical markets having high potential for growth, such as Asia-Pacific, is very beneficial for the manufacturers. 

Other trends include the use of sustainable and environmentally friendly materials like recycled plastics or bio-based foams in the insulated panels market. There is also a strong tendency towards personalization and new product development, enabling the manufacturers to provide nonstandard products tailored to the needs of the customer. Smart appliances such as temperature monitoring systems and remotely controlled devices are being integrated into the system, increasing effectiveness and comfort.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Insulated Panels For Commercial Refrigeration Market Drivers

Rising Demand for Energy-Efficient Refrigeration Solutions

The growing emphasis on energy conservation and sustainability in the commercial refrigeration industry is driving the demand for insulated panels. Insulated panels provide superior thermal insulation, reducing heat transfer and energy consumption. They help maintain optimal temperatures inside refrigerated spaces, ensuring the preservation of perishable goods while minimizing energy costs. Stringent government regulations and industry standards are also mandating the use of energy-efficient refrigeration systems, further bolstering the demand for insulated panels in the Global Insulated Panels For Commercial Refrigeration Market Industry.

Expansion of Cold Storage and Distribution Networks

With the rapid development of e-commerce and the increasing popularity of online shopping for groceries, there is a vast demand for cold storage and distribution facilities. As the key type of construction, insulated panels substantially help to preserve stable temperatures and, less importantly, protect food and other goods, which are usually perishable when exposed to high temperatures. Even in the future perspective, the enhancing of cold storage and distribution capacity seems to be among the key driving forces for the Global Insulated Panels For Commercial Refrigeration Market Industry.

Technological Advancements and Innovation

The technological progress in materials science and manufacturing allows the creation of new innovative insulated panels with better-performance characteristics and properties. The high-thermally-insulated, fire-resistant, and durable panels are being made. Furthermore, modern technology systems, such as temperature sensors and a remote monitoring system, contribute to the more effective and safer functioning of the commercial refrigeration system.

As a result, improved insulated panels are being developed, and still, more research and experiments will lead to the production of the advanced ones. That is why the development of insulated panels will be the factor contributing to the growth of the Global Insulated Panels For Commercial Refrigeration Market Industry.

Insulated Panels For Commercial Refrigeration Market Segment Insights

Insulated Panels For Commercial Refrigeration Market Panel Type Insights

The Global Insulated Panels For Commercial Refrigeration Market is segmented by Panel Type into Rigid Insulation Panels, Composite Insulation Panels, and Structural Insulation Panels. Among these, Rigid Insulation Panels held the largest market share in 2023 and are expected to continue their dominance throughout the forecast period. The growth of this segment can be attributed to the increasing demand for energy-efficient solutions in the commercial refrigeration industry. Rigid Insulation Panels offer superior thermal insulation properties, helping to reduce energy consumption and operating costs for businesses.

Composite Insulation Panels are gaining traction in the market due to their lightweight and durable construction. These panels are made from a combination of materials, such as metal, plastic, and foam, providing excellent insulation and structural support. The growing adoption of Composite Insulation Panels in cold storage facilities and food processing plants is driving the segment's growth. Structural Insulation Panels (SIPs) are becoming increasingly popular in commercial refrigeration applications. SIPs are engineered panels that combine insulation and structural components into a single unit.

This eliminates the need for separate framing and insulation, resulting in faster construction times and reduced labor costs. The use of SIPs is expected to grow in the coming years, particularly in regions with extreme weather conditions. The Global Insulated Panels For Commercial Refrigeration Market is expected to grow significantly over the next decade, driven by the increasing demand for energy-efficient and sustainable refrigeration solutions. The growth of the e-commerce industry and the expansion of cold storage facilities are also contributing to the market's expansion.

Insulated Panels play a crucial role in maintaining the desired temperature and hygiene standards in commercial refrigeration applications, making them an essential component of the industry's growth.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Insulated Panels For Commercial Refrigeration Market Insulation Material Insights

Insulation Material presents a major segment in the Global Insulated Panels For Commercial Refrigeration Market, responsible for influencing market growth and segmentation. By 2023, Polyurethane PUR/PIR will have grasped the major portion of the market, accumulating over 45% in revenue. Its popularity is driven by its high insulation value, durability, and cost-effectiveness. Polystyrene EPS/XPS will hold the second position due to being lightweight and cost-efficient. However, the demand for Phenolic Foam is on the rise due to its properties of fire resistance and thermal stability.

Mineral Wool will also contribute to the market share with its advantages of good acoustic insulation and fire resistance. The market for Insulation Material in Insulated Panels For Commercial Refrigeration will rise up to USD 13.2 billion by 2024 with a stable growth rate.

Insulated Panels For Commercial Refrigeration Market Fire Resistance Rating Insights

The Fire Resistance Rating segment is a critical factor in the Global Insulated Panels For Commercial Refrigeration Market segmentation. Class A, Class B, and Class C are the three main fire resistance ratings for insulated panels. Class A panels offer the highest level of fire resistance, with a flame spread index of 25 or less and a smoke-developed index of 50 or less. Class B panels have a flame spread index of 26 to 75 and a smoke-developed index of 51 to 150, while Class C panels have a flame spread index of 76 to 200 and a smoke-developed index of 151 to 500.

The demand for Class A panels is expected to increase significantly in the coming years due to the growing emphasis on fire safety in commercial buildings. The Global Insulated Panels For Commercial Refrigeration Market revenue for Class A panels is projected to reach USD 8.5 billion by 2024, growing at a CAGR of 6.2% during the forecast period.

Insulated Panels For Commercial Refrigeration Market Application Insights

The Global Insulated Panels For Commercial Refrigeration Market is segmented by Application into Walls, Roofs, and Doors. The Walls segment is expected to hold the largest market share in 2023 due to the increasing demand for insulated panels for commercial refrigeration applications in the construction of cold storage facilities, warehouses, and food processing plants. The Roofs segment is also expected to experience significant growth due to the need for energy-efficient roofing solutions in commercial refrigeration applications. The increasing adoption of insulated panels for commercial refrigeration applications is driven by the need for improved thermal insulation, energy conservation, and structural integrity in refrigerated environments.

Insulated Panels For Commercial Refrigeration Market End-User Industry Insights

The Global Insulated Panels For Commercial Refrigeration Market is segmented by End-User Industry into Food and Beverage, Retail, Healthcare, and Industrial. Among these segments, the Food and Beverage industry is expected to hold the largest market share in 2023, accounting for around 45% of the global market. The growth of this segment is primarily driven by the increasing demand for insulated panels in food processing and storage facilities. The Retail segment is also expected to witness significant growth over the forecast period due to the rising number of supermarkets and hypermarkets.

Healthcare and Industrial segments are also expected to contribute to the growth of the Global Insulated Panels For Commercial Refrigeration Market in the coming years.

Insulated Panels For Commercial Refrigeration Market Regional Insights

The regional segmentation of the Global Insulated Panels For Commercial Refrigeration Market offers insights into the performance of the market across different geographic regions. North America is expected to hold the largest market share in 2023, owing to the presence of key manufacturers and the high demand for insulated panels in the region's commercial refrigeration industry. Europe is projected to follow North America in terms of market size, driven by the increasing adoption of energy-efficient solutions in the region's commercial refrigeration sector.

The APAC region is anticipated to exhibit significant growth potential due to the rising demand for insulated panels in emerging economies such as China and India. South America and MEA are expected to contribute to the overall market growth, albeit at a slower pace compared to other regions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Insulated Panels For Commercial Refrigeration Market Key Players And Competitive Insights:

The Insulated Panels For Commercial Refrigeration Market industry is characterized by high-pressure competition prompted by the operations of leading players. As a result, industry partakers are striving to reinforce their competitive advantage with new innovative products. Practically every industry player is working to improve their geographic presence, which requires the expansion of the distribution system. Kingspan has a strong research and development focus and is constantly improving its high-performance insulated panels for controlled environments. Another major player, Tata BlueScope Steel, is announcing the expansion of an industry product line, which will include panels with improved thermal performance.

Both employ the total cost leadership strategy, making the best use of their robust distribution and industrial footprint. Kingspan and Tata BlueScope Steel, along with other Insulated Panels For Commercial Refrigeration Market partakers, form strategic alliances with major distributors, which ensures that future products will be available in most markets.

Key Companies in the Insulated Panels For Commercial Refrigeration Market Include:

• Dow


• ArcelorMittal


• SaintGobain


• LyondellBasell


• Eastman Chemical


• Asahi Kasei


• Johns Manville (Berkshire Hathaway)


• Sabic


• Kingspan


• BASF


• Knauf Insulation


• DuPont


• Covestro


• Huntsman


• Owens Corning

Insulated Panels For Commercial Refrigeration Market Industry Developments

The global insulated panels for commercial refrigeration market is projected to reach USD 25.3 billion by 2032, exhibiting a CAGR of 5.13% from 2024 to 2032. The rising demand for energy-efficient refrigeration systems in commercial applications, such as supermarkets, cold storage facilities, and food processing plants, is driving market growth. Government regulations and incentives promoting energy conservation and sustainability are further fueling the adoption of insulated panels.

Technological advancements, including the development of lightweight and high-performance insulation materials, are also contributing to market growth. Key industry players are focusing on expanding their product offerings and investing in research and development to meet the evolving needs of the market.

Insulated Panels For Commercial Refrigeration Market Segmentation Insights

Insulated Panels For Commercial Refrigeration Market Panel Type Outlook

• Rigid Insulation Panels


• Composite Insulation Panels


• Structural Insulation Panels

Insulated Panels For Commercial Refrigeration Market Insulation Material Outlook

• Polyurethane (PUR/PIR)


• Polystyrene (EPS/XPS)


• Phenolic Foam


• Mineral Wool

Insulated Panels For Commercial Refrigeration Market Fire Resistance Rating Outlook

• Class A


• Class B


• Class C

Insulated Panels For Commercial Refrigeration Market Application Outlook

• Walls


• Roofs


• Doors

Insulated Panels For Commercial Refrigeration Market End-User Industry Outlook

• Food and Beverage


• Retail


• Healthcare


• Industrial

Insulated Panels For Commercial Refrigeration Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa