The global structural insulated panels market size reached US$ 461.0 Million in 2023. Looking forward, the publisher expects the market to reach US$ 685.1 Million by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2023-2032. The growing demand from the construction sector, favorable government initiatives, and rising cold storage applications represent some of the key factors driving the market.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with the presence of a large number of international and regional players operating in the industry. The volume of new entrants is moderate in the structural insulated panel industry on account of the high capital investment and favorable government initiatives. Apart from this, there are low product differentiation and switching costs in the structural insulated panels market.
What are Structural Insulated Panels?
Structural insulated panels (SIPs) refer to high-performance and prefabricated lightweight building systems. They comprise an insulating foam core sandwiched between two structural facings, generally oriented strand boards (OSBs). They are manufactured through various materials, such as polyisocyanurate (PIR), polyurethane (PU), expanded polystyrene (EPS), and extruded polystyrene (XPS).
They provide superior thermal performance, improved indoor air quality, sustainability, faster construction, and easy installation. They assist in enhancing stability, durability, flexibility, energy efficiency, and overall cost of production. Besides this, they aid in maintaining optimal temperatures with minimal energy requirements. As a result, SIPs are widely employed in manufacturing walls, floors, ceilings, and roofs in residential and commercial places around the world.
Besides this, there was a sharp decline in the supply and demand of structural insulated panels due to the curfews on on-road movement, along with the reduced transportation and logistics facilities. Additionally, governing agencies of various countries imposed stringent rules and regulations on imports and exports or foreign trade of products due to the lockdown of international borders and social distancing norms. Apart from this, there was a delay in delivering goods on time to end-users, which created a decline in the structural insulated panels market. However, post-pandemic, the reopening of manufacturing plants, and the reduction in coronavirus cases resulted in the rising demand for structural insulated panels.
Apart from this, governing agencies of various countries are encouraging the adoption of green buildings and energy-efficient infrastructure around the world, which is propelling the growth of the market. In addition to this, the rising demand for cost-effective and environmentally friendly products among individuals across the globe is offering lucrative growth opportunities to industry investors. Furthermore, the increasing adoption of SIPs in residential areas for maximizing energy efficiency is offering a favorable market outlook.
2. What is the expected growth rate of the global structural insulated panels market during 2024-2032?
3. What are the key factors driving the global structural insulated panels market?
4. What has been the impact of COVID-19 on the global structural insulated panels market?
5. What is the breakup of the global structural insulated panels market based on the product?
6. What is the breakup of the global structural insulated panels market based on the application?
7. What are the key regions in the global structural insulated panels market?
8. Who are the key players/companies in the global structural insulated panels market?
Rising Cold Storage Applications Augmenting Market Growth
The increasing demand for structural insulated panels in cold chain storage industries currently represents one of the primary drivers resulting in the increasing sales of structural insulated panels. Various pharmaceutical companies are adopting structural insulated panels for storing liquid medicines and preventing contamination and wastage of medical products. In line with this, the growing demand for structural insulated panels in warehouses to store products at low temperatures is offering a positive market outlook.Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with the presence of a large number of international and regional players operating in the industry. The volume of new entrants is moderate in the structural insulated panel industry on account of the high capital investment and favorable government initiatives. Apart from this, there are low product differentiation and switching costs in the structural insulated panels market.
What are Structural Insulated Panels?
Structural insulated panels (SIPs) refer to high-performance and prefabricated lightweight building systems. They comprise an insulating foam core sandwiched between two structural facings, generally oriented strand boards (OSBs). They are manufactured through various materials, such as polyisocyanurate (PIR), polyurethane (PU), expanded polystyrene (EPS), and extruded polystyrene (XPS).
They provide superior thermal performance, improved indoor air quality, sustainability, faster construction, and easy installation. They assist in enhancing stability, durability, flexibility, energy efficiency, and overall cost of production. Besides this, they aid in maintaining optimal temperatures with minimal energy requirements. As a result, SIPs are widely employed in manufacturing walls, floors, ceilings, and roofs in residential and commercial places around the world.
COVID-19 Impact:
The COVID-19 pandemic outbreak has caused a severe problem for the structural insulated panel industry and imposed unprecedented challenges on numerous countries. Various players in the industry had to temporarily slow down or shut down their manufacturing capacities due to the lockdown and stringent curfew norms across the globe. In addition to this, there was a reduction in the construction of several residential and commercial projects, and manufacturers had to postpone their activities due to the fear of widespread viruses. Also, they faced huge financial losses on account of the shortage of labor. Moreover, the lower-running production facilities caused a shortage of raw materials.Besides this, there was a sharp decline in the supply and demand of structural insulated panels due to the curfews on on-road movement, along with the reduced transportation and logistics facilities. Additionally, governing agencies of various countries imposed stringent rules and regulations on imports and exports or foreign trade of products due to the lockdown of international borders and social distancing norms. Apart from this, there was a delay in delivering goods on time to end-users, which created a decline in the structural insulated panels market. However, post-pandemic, the reopening of manufacturing plants, and the reduction in coronavirus cases resulted in the rising demand for structural insulated panels.
Structural Insulated Panels Market Trends:
At present, the rising utilization of SIPs in the healthcare industry for storing and transporting numerous medicines safely and efficiently represents one of the key factors supporting the growth of the market. Besides this, the growing demand for SIPs due to the increasing number of construction activities across the globe is positively influencing the market. Additionally, the rising employment of SIPs in cold storage and warehouses to store products at low temperatures and avoid wastage is contributing to the growth of the market.Apart from this, governing agencies of various countries are encouraging the adoption of green buildings and energy-efficient infrastructure around the world, which is propelling the growth of the market. In addition to this, the rising demand for cost-effective and environmentally friendly products among individuals across the globe is offering lucrative growth opportunities to industry investors. Furthermore, the increasing adoption of SIPs in residential areas for maximizing energy efficiency is offering a favorable market outlook.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global structural insulated panels market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product and application.Product Insights:
- Polystyrene
- Polyurethane
- Glass Wool
- Others
Application Insights:
- Walls and Floors
- Roof
- Cold Storages
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global structural insulated panels market. Some of the companies covered in the report include:
- All Weather Insulated Panels
- American Insulated Panel
- Enercept Inc.
- Ingreen Systems Corp.
- Isopan (Manni Group S.p.A)
- Kingspan Group plc
- KPS Global
- Metl-Span Llc (Cornerstone Building Brands)
- Owens Corning
- PFB Corporation
- Premier Building Systems Inc
- Structural Panels Inc.
Key Questions Answered in This Report
1. What was the size of the global structural insulated panels market in 2023?2. What is the expected growth rate of the global structural insulated panels market during 2024-2032?
3. What are the key factors driving the global structural insulated panels market?
4. What has been the impact of COVID-19 on the global structural insulated panels market?
5. What is the breakup of the global structural insulated panels market based on the product?
6. What is the breakup of the global structural insulated panels market based on the application?
7. What are the key regions in the global structural insulated panels market?
8. Who are the key players/companies in the global structural insulated panels market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Structural Insulated Panels Market
6 Market Breakup by Product
7 Market Breakup by Application
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- All Weather Insulated Panels
- American Insulated Panel
- Enercept Inc.
- Ingreen Systems Corp.
- Isopan (Manni Group S.p.A)
- Kingspan Group plc
- KPS Global
- Metl-Span Llc (Cornerstone Building Brands)
- Owens Corning
- PFB Corporation
- Premier Building Systems Inc
- Structural Panels Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 461 Million |
| Forecasted Market Value ( USD | $ 685.1 Million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
