U.S. Insulated Panels for Commercial Refrigeration Market Size - By Type (Polyurethane, Expanded Polystyrene (EPS) Panel, Extruded Polystyrene (XPS) Panel, Composite Panel and Others), By Usage, By Temperature Range, By Application, By Distribution Channel & Forecast, 2024 – 2032

U.S. Insulated Panels for Commercial Refrigeration Market Size

U.S. Insulated Panels for Commercial Refrigeration Market was valued at USD 2.8 billion in 2023 and is anticipated to register a CAGR of 4.8% between 2024 & 2032. The U.S. commercial refrigeration market is seeing more use of insulated panels because businesses want to save on energy costs and be more efficient. According to the North American Insulation Manufacturers Association (NAIMA), using insulated panels can reduce energy consumption by up to 30%. These panels keep temperatures steady with less energy. The Environmental Protection Agency (EPA) notes that better refrigeration systems can cut greenhouse gas emissions, which is good for the environment.
 

The food service and retail industries are also growing, which means they need better refrigeration systems. The National Restaurant Association reports that the number of restaurants is increasing, and they all need reliable refrigeration for perishable goods. Supermarkets and convenience stores are also expanding, as noted by the Food Marketing Institute. This growth boosts the demand for high-quality refrigeration solutions like insulated panels and evaporators. New technologies, such as smart controls, are making these systems even better. As these industries grow, the need for efficient and advanced refrigeration components will continue to rise, thereby propelling the market.
 

One of the challenges in the market is escalating costs of raw materials and production. According to the American Chemistry Council, prices of essentials like polyurethane foam, metals, and refrigerants have increased significantly. These rising costs directly influence the manufacturing expenses of these panels. As a result, manufacturers often pass on the higher costs to end-users, which can deter them from investing in advanced refrigeration solutions. Additionally, the National Association of Manufacturers reports that supply chain disruptions and logistical issues further complicate material availability, making it difficult for manufacturers to maintain competitive pricing while ensuring product quality.
 

U.S. Insulated Panels for Commercial Refrigeration Market Trends

One prominent trend is the inclination towards energy efficiency and technological advancements, especially in insulated panels and evaporators. According to the North American Insulation Manufacturers Association, insulated panels now use advanced materials and designs that improve thermal insulation and reduce energy use. This change aligns with the industry's focus on sustainability and cost savings. Additionally, the market is moving towards modular and customizable solutions to meet diverse commercial needs, reflecting a broader trend of increased flexibility and adaptability in refrigeration systems.
 

U.S. Insulated Panels for Commercial Refrigeration Market Analysis

Based on type, the polyurethane segment was worth over USD 1.3 billion in 2023 and is expected to reach USD 1.9 billion by 2032. Polyurethane's superior thermal insulation is a key driver. According to the Polyurethane Foam Association, PU panels have high R-values, excelling in thermal resistance, which is vital for ensuring stable temperatures in commercial refrigeration. This efficiency not only aids in energy savings but also cuts operational expenses, as noted by the U.S. Department of Energy, cementing PU panels as the top pick for cold storage, supermarkets, and food processing. Moreover, their lightweight design simplifies installation and handling, bolstering their allure in the commercial sector.
 

Based on application, the food and beverage retail segment exceeded USD 1.6 billion in 2023 and is likely to reach USD 2.5 billion by 2032, attributed to their critical role in maintaining precise temperature control and ensuring the freshness and safety of perishable items. Insulated panels provide superior thermal insulation, reducing energy consumption and operational costs by minimizing heat exchange between the refrigerated space and the external environment, thereby propelling the market growth.
 

U.S. Insulated Panels for Commercial Refrigeration Market Share

The market is fragmented, with prominent players, in the case of insulated panels, such as Dow Building Solutions, Everidge, Inc., MBCI, Falk Corporation and Kingspan Group (KPS)holding a market share of 30-35%. These companies dominate the market due to their extensive research and development capabilities, strong global distribution networks, and strategic partnerships within the industry.
 

U.S. Insulated Panels for Commercial Refrigeration Market Companies

Major players operating in the market include:

• Alfa Laval
• American Cooler Technologies
• American Insulated Panel
• Coldmatic Building Systems
• Colmac Coil Manufacturing
• Craig Industries, Inc.
• Dow Building Solutions
• Emerson Electric Co.
• EVAPCO, Inc.
• Everidge, Inc. (Crown Tonka)
• Falk Corporation
• Güntner SS
• Heatcraft Worldwide Refrigeration
• Kingspan Group (KPS)
• MBCI (a Cornerstone Building Brands company)
• Metl-Span (a Nucor company)
• PermaTherm
   

U.S. Insulated Panels for Commercial Refrigeration Industry News

• In March 2024 Alfa Laval launched a new brazed-plate heat exchanger series, the AC540, which is suitable for CO2 (R744) refrigeration, particularly in flooded and DX evaporation, and includes technologies such as Alfa Laval’s own DynaStatic refrigerant distribution system. The ACP has the same design pressures as the CBP, and the "AC" in the model code indicates that the refrigerant distribution system is included within the unit, specifically Alfa Laval’s own DynaStatic distribution. Its intended function is as a DX evaporator in subcritical cascade systems.
   
• In February 2024, Heatcraft Worldwide Refrigeration, a division of Lennox International, announced a partnership with a global sustainable cooling initiative. As part of this collaboration, Heatcraft committed to developing new insulated panel systems that use low Global Warming Potential (GWP) refrigerants and incorporate recycled materials
   
• In December 2023, Kingspan Group announced the expansion of its QuadCore Technology insulation range for commercial refrigeration applications. The company introduced new panels with enhanced thermal performance and improved fire safety ratings. These panels are designed to meet increasingly stringent energy efficiency regulations in cold storage facilities..  
   
• In September 2021, Kingspan Group announced the acquisition of Diversi-Foam Products, a manufacturer of extruded polystyrene (XPS) insulation boards. This acquisition expanded Kingspan's insulated panel offerings for the commercial refrigeration market. The move was seen as a strategic step to strengthen Kingspan's position in the North American insulation market.
   

This U.S. insulated panels for commercial refrigeration market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (’000 Sq ft) from 2018 to 2032, for the following segments:

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Market, By Type

• Panels
  • Polyurethane
  • Expanded Polystyrene (EPS) Panel
  • Extruded Polystyrene (XPS) Panel
  • Composite Panel
  • Others

Market, By Usage

• Insulated Panel System
• Evaporator
• Multi-Deck Display cases
• Single Deck Display Cases
• Walk-in coolers/freezers
• Remote systems
• Self-contained units
• Island Cases
• Chilled Rooms
• Others

Market, By Temperature Range

• Medium temperature (32°F to 41°F / 0°C to 5°C)
• Low temperature (0°F to -10°F / -18°C to -23°C)
• Ultra-low temperature (below -10°F / -23°C)

Market, By Application

• Food Service
  • HoReCa
  • Catering Services
  •  Others (Bakeries, Confectionery Houses, Food Expo & Tour, etc.) 
• Food & Beverage Retail
  •  Grocery Stores
  • Club Stores
  • Convenience Stores
  • Dollar/Drug Stores
  •  Other (Specialty Food Store, Farmers Markets, etc.)
• Laboratories/medical facilities
• Cold Storage Warehouses
• Others

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the countries:

• U.S.