The global structural insulated panels market size was valued at USD 11.17 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. Favorable green building standards and regulations for the adoption of building insulation materials for lowering the overall energy consumption coupled with the growing investments in the development of cold chain infrastructure across the world are the key factors that are expected to drive the market.
Structural insulated panels are widely used in the construction of warehouses owing to their ability to reduce the overall construction time. The growth of the e-commerce industry is generating a huge demand for warehouses and last-mile delivery hubs. In addition, the establishment of local data centers by major technology companies, such as Amazon, Alibaba, Google, and Microsoft, is projected to have a positive impact on the market growth.
Key Player Mentioned:
· Metl-Span
· Kingspan Group
· PFB Corporation
· Isopan
· KPS Global
· American Insulated Panel
· Structural Panels Inc.
· All Weather Insulated Panels
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In 2020, the polystyrene product segment led the U.S. structural insulated panels market owing to robust insulation property and cost-effectiveness of polystyrene. Growing investments in the renovation of old building structures are expected to drive future product demand within the U.S. market.
Product Segment Analysis:
· Polystyrene
· Polyurethane
· Glass Wool
· Others
Application Segment Analysis:
· Walls & Floors
· Roof
· Cold Storage
Regional Segment Analysis:
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
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Structural insulated panels are fabricated at manufacturing facilities and shipped to the job site in a ready-to-install state. Metal sheets are emerging as a preferred facing material owing to their durability, fireproof property, and superior surface finish. Moreover, insulated metal panels are available in a variety of colors, thus making them suitable for direct application on building exteriors.
Major companies in the market are focusing on expanding their product portfolio by developing cost-effective insulation products with enhanced properties. The manufacturers are also engaged in the product installation through their network of certified contractors and installers. Installation of these systems needs expert services, which can affect the overall price.
The study objectives of this report are:
· To research global status, future forecasts, growth opportunities, key markets and key players.
· To present the market development in us, Europe and China.
· To strategically profile the key players and comprehensively analyze their development plan and methods.
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- Offers detailed market breakdown and data triangulation that will help guide the market trends.
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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.
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 HighlightsThe 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.
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 areAlubel 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.
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.
This is attributed to various factors such as the growing construction industry and the rapid development of energy efficient infrastructure.
