(MENAFN- GlobeNewsWire - Nasdaq) The global structural insulated panels market is segmented by material, and application. In terms of material, the market can be segmented into expanded polystyrene (EPS), polyurethane (PUR), and glass wool. Based on application, the market is segmented into residential, commercial, and industrial- Industry forecast 2023-2030
Westford USA, Feb. 13, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest report, the global structural insulated panels market for building insulation materials is poised for substantial growth, driven by favorable factors. One of the primary catalysts is the implementation of green building standards and regulations worldwide, which are aimed at curbing overall energy consumption and promoting sustainable construction practices.
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Pages - 157 Tables - 63 Figures – 75
The structural insulated panels market is poised for substantial growth in the coming years, driven by heightened demand in residential and commercial construction sectors. The increasing adoption of green and energy-efficient building practices has become a prominent trend, propelling the demand for SIPs as they offer exceptional insulation and contribute to sustainability goals.
Report Scope & Segmentation:
| Market Size in 2022
| USD 13.4 Billion
| 2030 Value Projection
| USD 20.03 Billion
| Forecast Period
| Segments Covered
| Regions Covered
North America Europe Asia Pacific Latin America Middle East and Africa
Prominent Players in Global Structural Insulated Panels Market
RAYCORE, Inc. T. Clear Corporation Premier SIPS Murus Company, Inc. Thermocore Systems Foam Laminates of Vermont FischerSIPS Insulspan PorterSIPs Extreme Panel Technologies, Inc. Enercept, Inc. Thermasteel Corporation Alubel SpA Isopan Nohara Holdings, Inc. Bondor Cool or Cosy Pty Ltd.
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Expanded Polystyrene Segment has Risen Significantly due to its Exceptional Thermal Insulation Properties
Expanded polystyrene (EPS) has emerged as the dominant material in the global structural insulated panels market, owing to a combination of attributes. EPS is widely favored for its exceptional thermal insulation properties, effectively enhancing energy efficiency in buildings, making it an eco-friendly choice. Its cost-effectiveness and ready availability further increase its popularity among construction professionals and project developers.
North America has asserted its dominance in the global structural insulated panels market, underpinned by various favorable factors. Stringent green building standards and regulations exist, particularly in the United States and Canada. These regulations have significantly incentivized the adoption of building insulation materials such as SIPs to curb energy consumption and promote sustainability in construction practices.
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Polyurethane Segment to Dominate Market due to Growing Emphasis on Energy Efficiency
Polyurethane (PUR) is poised to be the fastest-growing segment within the global structural insulated panels market. There is a growing emphasis on energy efficiency and sustainability in construction, coupled with stringent building regulations worldwide.
Asia-Pacific is currently undergoing rapid expansion in the global structural insulated panels market, driven by a host of compelling factors. Numerous countries within the region, including China, Japan, South Korea, and Australia, are experiencing a significant upswing in construction activities and infrastructural development. This growth is fueled by urbanization, population expansion, and the drive to modernize cities and townships.
A comprehensive analysis of major global structural insulated panels market players has been conducted recently. The report encompasses various aspects of the market, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Global Structural Insulated Panels Market
In 2023, a prominent home improvement retailer made a significant move by entering into a strategic partnership with a Structural Insulated Panels (SIP) manufacturer. This collaboration aimed to provide DIY homeowners with innovative SIP-based building kits and solutions. By offering these kits, the retailer aimed to empower homeowners to engage in energy-efficient and cost-effective construction projects. SIPs, known for their excellent insulation properties and ease of installation, align perfectly with the growing demand for sustainable and efficient construction practices, making them an attractive choice for DIY enthusiasts. In 2023, a renowned research institution secured a grant to conduct an extensive study focused on evaluating the performance and durability of SIPs. The objective of this research project was to further validate and enhance the structural capabilities of SIPs, ensuring their effectiveness and reliability in diverse construction applications.
Key Questions Answered in the Global Structural Insulated Panels Market Report
What specific growth drivers are projected to impact the market during the forecast period? List the top companies in the market and explain how they have achieved their positions of influence. In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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