Structural Insulated Panels Market Focuses On Minimizing Emissions In The Manufacturing Process

2022-03-09 07:10:42

(MENAFN- EIN Presswire)

Structural Insulated Panels Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company's Structural Insulated Panels Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, March 9, 2022 /EINPresswire.com / -- Growing collaborations and strategic partnerships among structural insulated panels companies is gaining popularity in the market. Structural insulated panels market trends include companies focusing on manufacturing sustainable products and reducing emissions. For instance, in April 2021, Kingspan Group, an Ireland-based building materials company that produces structural insulated panels partnered with Sweden based fossil-free steel manufacturer, H2 Green Steel. The partnership would help in reducing embodied carbon in Kingspan's insulated panel products by over 45% and aid towards net zero carbon manufacturing by 2030 with the intent of minimizing emissions to the lowest possible level.

The global structural insulated panels market size is expected to grow from $0.38 billion in 2021 to $0.40 billion in 2022 at a compound annual growth rate (CAGR) of 5.46%. The growth in the structural insulated panels market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global structural insulated panels market share is expected to reach $0.50 billion in 2026 at a CAGR of 5.66%.

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Increasing emphasis on green buildings is expected to propel the growth of the global structural insulated panels market. The structural insulated panel system has superior thermal resistance and, insulation capabilities, which enables the building envelope to regulate the heating, cooling, and humidity using less energy to heat or cool. For instance, according to the US Green Building Council, in August 2019, California had over 46,252,746 sq. ft. of sustainable residential structures in the form of 39,296 buildings followed by Texas, with 24,598, and New York, with 10,876 certified residential units. Also, according to the World Green Building Council, the global green building industry has the potential to cut energy consumption by 50% or more by 2050. Therefore, increasing emphasis on green buildings is driving the growth of the structural insulated panels market.

In August 2021, Owens Corning, a US-based producer of residential and commercial building materials acquired Vliepa GmbH for an undisclosed amount. The acquisition is expected to broaden Owens Corning's global nonwovens portfolio to better serve European customers and accelerate the growth of building and construction market applications in the region. Vliepa GmbH is a Germany-based building materials company that produces structural insulated panels.

Major players covered in the global structural insulated panels market are Kingspan Group, PFB Corporation, Isopan, Structural Panels Inc., Ingreen Systems Corp., Owens Corning, Premier Building Systems, Inc, T. Clear Corporation, ACME Panels, Eagle Panel Systems, Inc., Future Building of America, Isopan, Korwall Industries, M-sips, Inc. and Porter Corp.

TBRC's global structural insulated panels market report is segmented by product into EPS (expanded polystyrene) panel, rigid polyurethane (PUR) and rigid polyisocyanurate (PIR) panel, glass wool panel, others, by facing material into oriented strand board (OSB) structural insulated panels, magnesium oxide (MgO) board structural insulated panels, by application into walls and floors, roofs, cold storage, by end-user into residential, non-residential.

Structural Insulated Panels Global Market Report 2022 – By Product (EPS (Expanded Polystyrene) Panel, Rigid Polyurethane (PUR) And Rigid Polyisocyanurate (PIR) Panel, Glass Wool Panel), By Facing Material (Oriented Strand Board (OSB) Structural Insulated Panels, Magnesium Oxide (MgO) Board Structural Insulated Panels), By Application (Walls And Floors, Roofs, Cold Storage), By End User (Residential, Nonresidential) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a structural insulated panels market overview, forecast structural insulated panels market size and growth for the whole market, structural insulated panels market segments, geographies, structural insulated panels market trends, structural insulated panels market drivers, restraints, leading competitors' revenues, profiles, and market shares.

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