Structural Insulated Panels Market (Product - Polystyrene, Polyurethane, Glass Wool, Polyisocyanurate, and Others; Application - Walls & Floors, Cold Storage, and Roofs): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on structural insulated panels market provides in-depth analysis of segments and sub-segments in the global as well as regional structural insulated panels market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional structural insulated panels market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global structural insulated panels market.

Market Insight:

The global structural insulated panels market was valued at USD 12.16 billion in 2022 and is expected to reach USD 20.02 billion in 2030, with a CAGR of 5.63% during the forecast period 2023-2030.

Structural Insulated Panels (SIPs) refer to an adaptable building material widely used for walls, roofs, and floors, among other building applications. These panels have two layers of structural boards typically Oriented Strand Board (OSB) sandwiched between a core material, usually rigid foam insulation. This panel is a robust, lightweight, and energy-efficient construction solution manufactured in a prefabricated manner within controlled factory conditions. SIPs enable rapid and effective on-site assembly, which reduces construction timeframes leading to long-term cost savings. The benefits of SIPs include increased energy efficiency and significant thermal insulation, which lowers heating and cooling expenses. The resulting structures are airtight, improve indoor air quality and reduce energy losses from drafts while maintaining an appealing exterior aesthetic. SIPs offer diverse purposes in prefabricated and modular buildings, as well as in commercial, industrial, and residential construction. Their effectiveness in temperature-controlled environments is especially remarkable, which makes them indispensable for uses such as cold storage facilities.

The growing demand for environmentally friendly construction solutions drives the growth of the structural insulated panels market. The Structural Insulated Panels (SIPs) are in greater demand due to their acceptance as sustainable building materials due to their recyclability and resource-efficient manufacturing process. The popularity and use of SIPs in the construction industry has been greatly fueled by the global emphasis on implementing eco-friendly construction practices. Additionally, the rise in demand for insulated panels propels the growth of the structural insulated panels Market. Since SIPs are prefabricated off-site, they enable rapid installation on-site. The demand for building materials rises as more projects involving the construction of buildings are undertaken. SIPs tend to get more and more in demand due to their energy-efficient qualities and versatility. However, high fluctuations in raw materials prices may hamper market growth. Market growth may face obstacles due to the variability in raw material costs. Crude oil is the source of materials used in Structural Insulated Panels (SIPs), such as polystyrene and polyurethane. Crude oil price changes have the potential to introduce instability into the SIP market and limit its growth potential. Moreover, the continued research and advancement in the production of modified structural insulated panels can create a lucrative opportunity for market growth. Ongoing advancements in material science research are actuating the production of innovative and improved materials for Structural Insulated Panels (SIPs). Researchers are looking for novel materials. to improve the sustainability, functionality, and lifespan of SIPs compared to traditional options.

The structural insulated panels market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America holds the largest share of the Structural Insulated Panels Market during the forecast period. North America's construction industry is expanding rapidly due to several factors, including urbanization, infrastructure development, and population growth. With the increasing need for new residential, commercial, and industrial buildings, SIPs present an attractive option for developers and builders who seek to meet strict energy efficiency requirements while speeding up the construction process. In addition, the United States is a key player in the North American region and has an experienced construction industry that focuses on sustainable and energy-efficient building techniques. SIPs, with their outstanding thermal insulation properties, align perfectly with these objectives. Meanwhile, the Asia Pacific region is anticipated to witness the fastest growing region in structural insulated panels market, due to the growing urbanization and industrialization in the region. Countries like China, India, and Southeast Asian nations witnessing significant population growth and urban expansion. An increase in residential, commercial, and industrial construction projects is being driven by this shift in demographics. With their energy-efficient features and time-saving benefits, SIPs present a desirable response to the growing need for environmentally friendly and expedient construction.

Report Scope of the Structural Insulated Panels Market:

Segment Covered

The report on global structural insulated panels market covers segments such as product, and application. On the basis of product, the sub-markets include polystyrene, polyurethane, glass wool, polyisocyanurate, and others. On the basis of application, the sub-markets include walls & floors, cold storage, and roofs.

Companies Profiled:

The report provides profiles of the companies in the market such as Kingspan Group, ITALPANNELLI SRL, The Murus Company, Alubel SpA, Eagle Panel Systems, Inc., PFB Corporation, MARCEGAGLIA BUILDTECH Srl, Cornerstone Building Brands, Inc., Owens Corning, and ACME Pannel company.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the structural insulated panels market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.