Global Structural Insulated Panels Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Structural Insulated Panels Market Overview

"The Structural Insulated Panels Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

This report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.

A structural insulated panel is a form of sandwich panel, also known as a structural insulating panel majorly used in the construction industry. Structural insulated panels (SIPS) are sandwiched between two stiff sheathing materials which can be expanded polystyrene (EPS), extruded polystyrene (XPS), polyurethane (PUR), or polyisocyanurate (PIR). The structural insulated panel is used in various applications such as internal and external walls, roofs, and flooring surfaces, which can be easily combined with other construction materials such as blocks, stones, bricks, wood, tiles, steel, and glass. It provides higher levels of insulation, air tightness, and strength compared to traditional framing panels.

Improvements in residential infrastructure along with new construction activities are expected to support demand for a structural insulated panel over the forecast period. Moreover, the target market is anticipated to drive by various factors such as increasing foreign direct investment (FDI) in construction, and supportive government regulations and policies regarding the building & construction industry. The eco-friendly nature of insulated wall panels is expected to provide tremendous growth opportunities for the structural insulated panels market.

However, a lack of awareness about structural insulated panels and advanced building technology such as modular construction techniques may hamper demand and restrain the growth of the global market over the forecast period.

Among regions, North America dominates the structural insulated panels market, owing to the introduction of programs including Energy Star building certification, LEED, and ICC’s Model Energy Codes in countries in the region which further influence structural insulation panels adoption. Furthermore, the Canadian government is planning to invest in public & renewable energy infrastructure through the Affordable Housing Initiative (AHI), and New Building Canada Plan (NBCP), also anticipated to bolster the structural insulated panels market in the future.

The structural insulated panels market in the Asia Pacific is expected to grow at a significant rate over the forecast period. The growing construction sector, infrastructural investments, government initiatives, and continued privatization, in various countries in the region such as China, India, and ASEAN countries (such as Malaysia, Indonesia, Vietnam, and Singapore) are supporting the growth for the regional market.

Global Structural Insulated Panels Market Segmentation:

Segmentation by Product Type:

• Glass Wool Panel
• Stone Wool Panel
• Expanded Polystyrene (EPS) Panel
• Extruded Polystyrene Foam Panel
• Rigid Polyurethane (PU) and Rigid Polyisocyanurate (PIR) Panel

Segmentation by Application

• Building Roof
• Cold Storage
• Building Wall

Segmentation by End-Use

• Residential
• Commercial

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa