The Structural Insulated Panels by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Structural Insulated Panels, The structural insulated panels market size has grown strongly in recent years. It will grow from $0.43 billion in 2023 to $0.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to growth in construction activities, the increase in demand from cold storage facilities, the growth in the e-commerce industry and the rise in green buildings.
The structural insulated panels market size is expected to see steady growth in the next few years. It will grow to $0.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to the rising urbanization, the growing residential sector and the rising infrastructure investments. Major trends in the forecast period include technology advancements, increasing use of structural insulated panels in modular construction, focus on green buildings and sustainability, increasing investments, innovative product launches and increasing mergers and acquisitions.
The increase in emphasis on green buildings is expected to propel the growth of the structural insulated panels market. The structural insulated panel system has superior thermal resistance and, insulation capabilities, which enables the building envelope to regulate the heating, cooling, and humidity using less energy to heat or cool. For instance, according to the World Green Building Trends, 47% of industry respondents would make the majority of their projects green by 2021. Also, according to the World Green Building Council, the global green building industry has the potential to cut energy consumption by 50% or more by 2050. Therefore, increasing emphasis on green buildings is driving the growth of the structural insulated panels market.
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The structural insulated panels market covered in this report is segmented –
1) By Insulation Materials: Expanded Polystyrene (EPS) Panel, Rigid Polyurethane (PUR), Rigid Polyisocyanurate (PIR) Panel, Glass Wool, Stone Wool, Extruded Polystyrene Foam Panel, Other Insulation Materials
2) By Facing Material: Oriented Strand Board (OSB) Structural Insulated Panels, Magnesium Oxide (MGO) Board Structural Insulated Panels, Other Facing Materials
3) By Application: Walls And Floors, Roofs, Cold Storage
4) By End User: Residential, Non-Residential
Growing collaborations and strategic partnerships among structural insulated panels companies is a key trend gaining popularity in the market. Structural insulated panel companies are focusing on manufacturing sustainable products and reducing emissions. For instance, in April 2021, Kingspan Group, an Ireland-based building materials company that produces structural insulated panels partnered with Sweden-based fossil-free steel manufacturer, H2 Green Steel. The partnership would help in reducing embodied carbon in Kingspan’s insulated panel products by over 45% and aid towards net zero carbon manufacturing by 2030 with the intent of minimizing emissions to the lowest possible level.
The structural insulated panels market report table of contents includes:
- Executive Summary
- Structural Insulated Panels Market Characteristics
- Structural Insulated Panels Market Trends And Strategies
- Structural Insulated Panels Market - Macro Economic Scenario
- Global Structural Insulated Panels Market Size and Growth
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- Global Structural Insulated Panels Market Competitive Benchmarking
- Global Structural Insulated Panels Market Competitive Dashboard
- Key Mergers And Acquisitions In The Structural Insulated Panels Market
- Structural Insulated Panels Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Owens Corning
- Kingspan Group PLC
- SSAB AB
- KPS Global
- Premier SIPs
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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.
