Reports - Structural Insulated Panel Market
Structural Insulated Panel Market by Product (Glass Wool Panels, EPS (Expanded Polystyrene) Panels, Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panels, Other Products,) by Application (Residential, Commercial, Municipal,) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
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USD 8.21 Billion
USD 14.74 Billion
5.46%
North America
37.8%
Asia Pacific
USD 3.10 Billion
The global
Structural Insulated Panel Market
USD 8.21 Billion in 2022
USD 14.74 Billion by 2030
5.46%
Premium Insights
The growth and widespread adoption of Structural Insulated Panel in the market are driven by various factors. One of the main drivers is the global focus on sustainable construction practices, which is fueled by increasing awareness of environmental concerns and the demand for energy-efficient building solutions. SIPs are known for their excellent thermal performance, making them an ideal choice for energy savings and aligning with the need for eco-friendly materials. Moreover, the increasing construction activities, especially in residential and commercial sectors, create a demand for efficient and fast building solutions. SIPs offer a streamlined and time-efficient construction process, meeting this need effectively.
Economic Insights
The Structural Insulated Panel market is thriving and growing because the demand for sustainable and energy-efficient construction practices aligns with the use of SIPs. Builders and homeowners appreciate the economic advantages of using SIPs, such as lower energy costs and faster construction times. Government initiatives and incentives also contribute to the economic viability of the SIP market. As the construction sector adapts to environmental regulations, the economic benefits and environmental considerations of SIPs highlight its potential for sustained growth.
Top Market Trends
Rising Demand for Energy-Efficient Construction:
Prefab and Modular Construction:
Growing Interest in Green Building Certification:
Innovation in Panel Materials and Compositions:
Digitalization and Design Technology:
Market Segmentation
Structural Insulated Panel {{Segmentation_Ext}}
Based on Facing material
OSB holds the largest share
OSB dominated the Structural Insulated Panel market, holding the largest share due to its strong structure, affordability, and ability to adhere and bond with insulation materials, OSB is a commonly utilized facing material in SIPs. Its popularity as a facing material stem from its versatility and ability to work well with different construction applications. OSB is highly valued by builders and manufacturers for its durability and stability, making it the preferred option for constructing the outer layers of SIPs.
Based on Insulation material
EPS accounts for largest market share
EPS dominates the Structural Insulated Panel market, accounting for the largest market share due to its outstanding thermal insulation properties, its lightweight characteristic, and its cost-effectiveness. When it comes to insulation material for SIPs, builders and manufacturers opt for EPS because it can deliver exceptional energy efficiency, thus promoting sustainable and environmentally-friendly construction methods. Additionally, the closed-cell structure of EPS not only improves thermal performance but also enhances the structural integrity of the panels.
Based on End use
Residential accounts for significant share
In terms of end use, residential segment accounted for significant share due to their versatility, energy efficiency, and streamlined construction process. Homeowners and builders appreciate SIPs for their ability to enhance insulation, reduce energy costs, and contribute to sustainable construction practices. The ease of assembly and the shorter construction timelines associated with SIPs make them particularly well-suited for residential projects.
Based on Region
North America will lead the market
The Structural Insulated Panel market in North America has the largest market share driven by an emphasis on energy-efficient building methods, sustainable initiatives, and the widespread use of SIPs in residential and commercial projects, the construction industry in North America has embraced SIPs for their thermal efficiency, speed of installation, and environmentally friendly characteristics. The implementation of government incentives to encourage energy-efficient construction solutions has also played a role in accelerating the adoption of SIPs in the region. As North America takes the lead in advancing modern construction practices, its position as a leader in the SIP market exemplifies the regions importance in driving the growth and innovation of the industry.
Competitive Landscape
The Structural Insulated Panel market is highly competitive, with many manufacturers and suppliers vying for dominance. Major players focusing on product innovation, strategic partnerships, and expanding their geographic reach. These companies invest heavily in research and development to improve the performance of SIPs and explore sustainable materials for facing and insulation. Collaboration with architects and builders is also common to promote SIP adoption in construction projects.
The players in the global Structural Insulated Panel market include Sonoco Products Company, Cryopak Europe, Pelican BioThermal, Cold & Co, ACH Foam Technologies Inc., Saeplast, AccsA’tech, Insulated Products Corporation, TKT GmbH, Snyder Industries, Envirotainer AB among others.
Recent Market Developments
2022:
Segmentation of the Global Structural Insulated Panel Market
Source: www.vantagemarketresearch.com
Parameter | Details |
---|---|
Facing material | By Facing material
|
Insulation material | By Insulation material
|
Application | By Application
|
End use | By End use
|
Region | By Region
|
Base Year
2023
Historic Year
2018 - 2022
Forecast Year
2023 - 2032
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