Global Structural Insulated Panels Market Research Report: Information by Product (Expanded Polystyrene, Polyurethane Insulated, Glass Wool), by Application (Residential, Commercial), and by Region (North America, Europe, APAC, RoW) - Forecast till 2024. Asia-Pacific is anticipated to witness the highest growth in the global structural insulated panels market during the forecast period.
Market Highlights
The increasing focus on energy efficiency and economic feasibility in the overall construction industry has led to the increased demand for structural insulated panels. The global structural insulated panels market is anticipated to witness a tremendous growth due to factors such as the rising demand for structural insulated panels from the developing construction industry and the increasing construction of commercial and economic buildings in emerging economies. Moreover, the awareness regarding energy efficiency in the construction industry is rising, which is expected to create more opportunities for the global structural insulated panels market. However, the market growth is being obstructed by the fluctuating raw material prices that are used in the manufacturing of structural insulated panels.
Some of the key players operating in the global structural insulated panels market are Alubel SpA (Italy), ArcelorMittal (Luxembourg), BALEX-METAL (Poland), Isopan (Manni Group SpA), Italpannelli SRL (Italy), Kingspan Group (Ireland), Marcegaglia SpA (Italy), Metecno (Italy), and NCI Building Systems (US).
Nowadays, structural insulated panels are gaining attention from the investors, owing to its increase in strictness for energy consumption. The construction and infrastructure industry consume more electricity than any other industry. Thus, efficient construction and engineering materials are increasingly being preferred for constructing new infrastructure to comply with the international building codes and laws for energy efficiency. Additionally, structural insulated panels offer cost-effectiveness in the investment of construction buildings, thus creating opportunities for the global market.
Europe accounted for the largest market share in 2018 and is expected to retain its position till 2024. This is attributed to various factors such as the growing construction industry and the rapid development of energy efficient infrastructure. Moreover, the governmental regulations for reducing greenhouse emissions and the need to improve the cost efficiency of the buildings as well as the adoption of regulations in the context of energy efficiency are some of the major factors driving the demand for structural insulated panels in this region. Additionally, several major structural insulated panel manufacturing companies are based in Europe. For instance, Alubel SpA, Kingspan Group, and Italpannelli SRL are the prominent players in the market and contribute to the market share of Europe in the global structural insulated panels market.
Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to the growing infrastructure due to urbanization and industrialization, and the growing construction industry in the region. Additionally, the developing economies in Asia-Pacific are supporting investments through their FDI policies, which further influences the growth of the structural insulated panels market.
By Region
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North America
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Asia-Pacific
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Europe
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Rest of the World
Scope of the Report
This study provides an overview of the global structural insulated panels market, tracking two market segments across four geographic regions. The report studies key players and provides a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world (RoW). The report also provides a forecast, which focuses on the market opportunities for the next five years for each region. The scope of the study segments the global structural insulated panels market by product, application, and region.
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Market SynopsisMarket Research Future (MRFR), in its latest Structural Insulated Panel Market 2020 report, reveals different forces that can impact the market.
The rise in the structural insulated panel market across the globe can be attributed to the expansion of the construction sector.
The growing installation of structural insulated panels in the construction industry owing to rise in demand for innovative infrastructure design can promote the growth of the market through the analysis period.
The increase in adoption of structural insulated panels in different application areas as they offer great performance and potential economic advantages can also support the rise of the structural insulated panels market in the analysis period.Get free sample pdf @https://www.marketresearchfuture.com/sample_request/7671Market SegmentationThe segment evaluation of the global structural insulated panels market is based on product and application.The product based segments of the global structural insulated panels market are polyurethane insulated (PUR) panels, expanded polystyrene (EPS) panels, and glass wool panels among others.
The application based segments of the structural insulated panel global market are residential and commercial.The increase in the application of polystyrene (EPS) panels can gain high traction for structural insulated panels, which, in turn, can add momentum to the expansion of the global market through the study period.
Good thermal insulation, air-tightness, long lifespan, and low maintenance cost are other advantages offered by polystyrene structural insulated panels that support the market rise through the analysis period.
