Global Structural Insulated Panels Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Structural insulated panels are high-performance insulating panels used to construct walls, ceilings, and floors for residential and light commercial construction. They consist of a super-strong construction panel having an insulating foam between two structural facings. Structural insulated panels have superior strength against natural disasters, high energy efficiency, and are cost-effective for construction purposes.

Sizing and Forecast
The structural insulated panels market size has grown strongly in recent years. It will grow from $0.43 billion in 2023 to $0.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%.  The  growth in the historic period can be attributed to growth in construction activities, the increase in demand from cold storage facilities, the growth in the e-commerce industry and the rise in green buildings..

The structural insulated panels market size is expected to see steady growth in the next few years. It will grow to $0.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.  The growth in the forecast period can be attributed to the rising urbanization, the growing residential sector and the rising infrastructure investments. Major trends in the forecast period include technology advancements, increasing use of structural insulated panels in modular construction, focus on green buildings and sustainability, increasing investments, innovative product launches and increasing mergers and acquisitions. .

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Segmentation & Regional Insights
The structural insulated panels market covered in this report is segmented –
1) By Insulation Materials: Expanded Polystyrene (EPS) Panel, Rigid Polyurethane (PUR), Rigid Polyisocyanurate (PIR) Panel, Glass Wool, Stone Wool, Extruded Polystyrene Foam Panel, Other Insulation Materials
2) By Facing Material: Oriented Strand Board (OSB) Structural Insulated Panels, Magnesium Oxide (MGO) Board Structural Insulated Panels, Other Facing Materials
3) By Application: Walls And Floors, Roofs, Cold Storage
4) By End User: Residential, Non-Residential

North America was the largest region in the structural insulated panels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the structural insulated panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increase in emphasis on green buildings is expected to propel the growth of the 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 World Green Building Trends, 47% of industry respondents would make the majority of their projects green by 2021. 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.

Key Industry Players
Major companies operating in the structural insulated panels market report are Owens Corning, Kingspan Group Plc, SSAB AB, KPS Global, Premier SIPs, Enercept Inc, Extreme Panel Technologies Inc., Isopan, Structural Panels Inc, All Weather Insulated Panels, Shandong Hark Steel Material Co Ltd, Shandong Wiskind Architectural Steel Co Ltd, Shandong Wiskind Steel Structure Co Ltd, Xiamen Yumi New Material Technology Co Ltd, Yantai Jedha Industrial and Trading Co Ltd, Golden Power (Fujian) Building Material Science Technology Co Ltd, Shree Shani Green Energy, Versiclad, EnviroSip, Solaris, Glosford SIPS, Self-Build, Metawell, Sipcon.House, SIPs, Sipeurope, ECSUS Design, Karmod, Tekhnostyl Group, Hotwell, EcoEuroDom, OrgTechStroy, SipMontage, Worsted, FischerSIPS, VIRMAK LLC, TechnoNIKOL, ACME Panel Company, Energy Panel Structures Inc, Foard Panel Inc, General Panel Corporation, Thermapan Structural Insulated Panels, Knight Wall Systems, Tafco, Sinopan, Isoeste, Xipre, Styropek, Arauco, Emirates Industrial Panel, TSSC Group, Sika AG, Qatar Steel Industries Factory, Dana Steel, Isotherm Insulation FZC, Zamil Steel, Al Shahin Metal Industries, Drycraeft, Ecostruct Panel Systems, New World Steel Construction, Panel Co South Africa, Isowall Group, Rockwool

The structural insulated panels market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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