The global structured insulated panels market size is expected to reach USD 611.8 Million in 2028 at a CAGR of 5.2% during the forecast period. Rising need for cost-efficient and energy-efficient building solutions equipped with better thermal performance and structural stability are key factors contributing to steady revenue growth of market. Structural insulated panels are increasingly used in building and construction industry as they offer several benefits over traditional stick frame building materials. These panels also reduce construction time drastically owing to increased precision and optimization of process through use of factory-produced materials.
Structural insulated panels are a combination of various elements that increase their versatility in single and multi-story building constructions. These panels are easy to construct, thermally efficient, cost-effective, and durable building alternatives that offer high investment return and conforms to the green construction trend. Increasing need to enhance internal space is also a key factor expected to drive revenue growth of market over the forecast period. In addition, increasing trend of sustainable construction, green buildings, and growing need for aesthetic look are other factors expected to boost revenue growth of market over the forecast period.
However, fluctuations in prices of raw materials is a key factor expected to hamper market growth to a certain extent over the forecast period. In addition, lack of awareness regarding benefits of structural insulated panels among consumers and other end-users is another major factor expected to restrain market growth to an extent over the forecast period.
Some Key Highlights in the Report:
- Well segment accounted for largest revenue share in 2020 and is expected to lead market growth in terms of revenue contribution over the forecast period. Growth can be attributed to increasing demand for structural insulated panels to cater to increasing need for enhanced thermal and energy efficiency of buildings.
- EPS panel segment revenue is expected to expand significantly over the forecast period. Increasing demand for EPS panels can be attributed to its low water absorption rate which prevents humidity and moisture and reduces corrosion of load-bearing system accessories and this is expected to drive revenue growth of segment over the forecast period.
- Residential segment is expected to account for largest revenue share in the global market over the forecast period. This can be attribute to increasing demand for structural insulated panels for residential construction owing to increasing renovation activities to upgrade existing residential infrastructure.
- North America market revenue is expected to expand at a rapid CAGR over the forecast period owing to increasing adoption of structural insulated panels to reduce energy consumption in buildings and robust presence of major players such as PFB Corporation, Owens Corning, Premier SIPs, Enercept, Inc., Foard Panel Inc., and Extreme Panel Technologies in the region.
- Key companies of the market include Kingspan Group, PFB Corporation, Owens Corning, Premier SIPS: Structural Insulated Panels, Enercept, Inc., Extreme Panel Technologies, T.Clear Corporation, ALUBEL SPA, Foard Panel, and Acme Panel.
- In July 2020, DuPont introduced a new, reduced global warming potential (GWP) Styrofoam™ Brand Insulation. The new product of Styrofoam™ Brand Insulation family is designed to reduce greenhouse gas emissions to support the company’s 2030 Sustainability Goals. The product will also efficiently support modern, high-performance building design and infrastructure.
For the purpose of this report, Emergen Research has segmented the global structural insulated panels market on the basis of application, product, end-use, and region:
Application Outlook (Revenue, USD Million; 2018–2028)
Product Outlook (Revenue, USD Million; 2018–2028)
- EPS (Expanded Polystyrene) Panel
- Glass Wool Panel
- XPS (Extruded Polystyrene) Foam
End-use Outlook (Revenue, USD Million; 2018–2028)
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/structural-insulated-panels-market