The global IMP market is projected to grow from $15.01 billion in 2025 to $17.13 billion by 2030, driven by tightening energy codes, the data center construction boom, cold chain expansion, and a construction labor market that's demanding faster, leaner building methods.

Here's what's fueling the IMP wave — and why it matters for contractors, specifiers, and building owners.

According to Associated Builders and Contractors (ABC), the construction industry needs approximately 349,000 net new workers in 2026 to maintain equilibrium between labor supply and project demand. That figure is actually down from 439,000 in 2025 — but don't mistake that for progress.

The drop reflects softening demand, not a healthier workforce. Nominal construction spending declined about 1.5% over the past year, translating to roughly a 5% real decline after inflation. ABC's chief economist Anirban Basu has been clear: this is cyclical relief masking a structural crisis.

And the relief is temporary. ABC projects the gap will jump to 456,000 workers in 2027 as interest rates ease, stalled projects restart, and megaproject pipelines convert from planning to active construction.

More than half of the 349,000 workers needed this year aren't for growth — they're simply to replace retirees walking off jobsites for the last time.

With completion targeted for late 2027, the project is navigating the same 2026 labor and material challenges seen across the U.S. By locking in a collaborative effort early, the project team is hedging against market volatility to deliver a "legacy gathering place" for the Frisco community.

As we move through 2026, a massive shift is occurring in the building envelope market. While traditional multi-component wall systems are struggling with labor shortages and rising energy costs, Insulated Metal Panels (IMPs) have emerged as the primary solution for modern industrial and commercial builds.

Recent market data projects that a staggering 475 million square feet of IMP will be installed across the United States this year. At Terrapin Construction Group, we’ve seen this trend firsthand, as developers prioritize speed-to-market and thermal performance over traditional "stick-built" methods.

The 2026 construction landscape is defined by massive opportunity paired with massive constraints. Data centers and AI infrastructure are pouring billions into the market. Adaptive reuse is creating new pathways in every major city. But the labor shortage remains the bottleneck that connects — and limits — everything.

The winners this year won't be the biggest firms. They'll be the most adaptable ones.

In commercial real estate, the most expensive phase of any project is the "interim"—the period where capital is deployed, interest is accruing, but the cash register is still silent. For decades, the industry accepted a linear timeline as an unavoidable cost of doing business.

In 2026, that mindset is obsolete. By shifting from traditional "stick-built" methods to Modular Design-Build, developers are compressing schedules by up to 50%, allowing businesses to begin generating revenue 10 to 12 weeks faster than the traditional path allows.