Skip to main content

Structural Insulated Panels Market To Forsee Commendable Growth, Due To Rising Investments In The Renovation Of Old Buildings

 Structural Insulated Panels Industry Overview


The global structural insulated panels market size was valued at USD 11.17 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. Favorable green building standards and regulations for the adoption of building insulation materials for lowering the overall energy consumption coupled with the growing investments in the development of cold chain infrastructure across the world are the key factors that are expected to drive the market. Structural insulated panels (SIPs) are expected to gain wide acceptance globally as they are lightweight, have a better external appearance, and can improve the thermal performance of buildings. In the U.S., as per the Federal Energy Policy Act 2005, a tax credit of up to USD 2,000 is provided for builders of new energy-efficient homes that are constructed as per the standards of Federal Manufactured Homes Construction and Safety Standards.


Gather more insights about the market drivers, restrains and growth of the Structural Insulated Panels Market


In 2020, the polystyrene product segment led the U.S. structural insulated panels market owing to robust insulation property and cost-effectiveness of polystyrene. Growing investments in the renovation of old building structures are expected to drive future product demand within the U.S. market.


Structural insulated panels are widely used in the construction of warehouses owing to their ability to reduce the overall construction time. The growth of the e-commerce industry is generating a huge demand for warehouses and last-mile delivery hubs. In addition, the establishment of local data centers by major technology companies, such as Amazon, Alibaba, Google, and Microsoft, is projected to have a positive impact on the market growth.


Structural insulated panels are fabricated at manufacturing facilities and shipped to the job site in a ready-to-install state. Metal sheets are emerging as a preferred facing material owing to their durability, fireproof property, and superior surface finish. Moreover, insulated metal panels are available in a variety of colors, thus making them suitable for direct application on building exteriors.


Raw materials used for manufacturing structural insulated panels include Polyisocyanurate (PIR), Polyurethane (PU), Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), and others. All these products are downstream derivatives of crude oil. Thus, the volatile pricing of crude oil in the international market is a serious restraint to the growth of this industry.

 

Browse through Grand View Research's Green Building Materials Industry Research Reports.

 

• The global automotive timing belt market size was estimated at USD 7.1 billion in 2023 and is projected to grow at a CAGR of 4.4% from 2024 to 2030. The global automotive timing belt industry is experiencing growth primarily due to the increasing production of vehicles and the rising adoption of direct injection engines.


• The global environmental remediation market size was estimated at USD 115.2 billion in 2023 and is projected to grow at a CAGR of 7.2% from 2024 to 2030.The market is experiencing significant growth due to a confluence of factors that underscore the increasing urgency for effective environmental management and pollution control.


Structural Insulated Panels Market Segmentation


Structural Insulated Panels Product Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)
• Polystyrene
• Polyurethane
• Glass Wool
• Others


Structural Insulated Panels Application Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)
• Walls & Floors
• Roofs
• Cold Storage


Structural Insulated Panels Regional Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o Italy
• Asia Pacific
o China
o Japan
o India
• Central & South America
o Brazil
o Argentina
• Middle East & Africa (MEA)
o UAE


Order a free sample PDF of the Structural Insulated Panels Market Intelligence Study, published by Grand View Research.

 

Key Companies profiled:
• Metl-Span
• Kingspan Group
• PFB Corporation
• Isopan
• KPS Global
• American Insulated Panel
• Structural Panels Inc.
• All Weather Insulated Panels
• Ingreen Systems Corp.
• Owens Corning

Comments

Post a Comment

Popular posts from this blog

Outdoor Power Equipment Market Consumer Preferences And Buying Behaviour

  Outdoor Power Equipment Industry Overview The global outdoor power equipment market size was USD 46.53 billion in 2021 and is expected to reach USD 76.61 billion by 2030, expanding at a CAGR of 5.9% from 2022 to 2030. The market growth can be credited to increasing demand for cordless outdoor power equipment as people are inclining more toward greater flexibility and portability. Gather more insights about the market drivers, restrains and growth of the  Outdoor Power Equipment Market Furthermore, the technological advancements of several companies in outdoor power equipment are also expected to drive market growth. For instance, in February 2020, Robert Bosch GmbH launched Indego M 700 and Indego M+ 700, two autonomous lawn mowers. These two connected lawn mowers feature 18 V lithium batteries with brushless DC motors that can cut of medium size gardens up to 700 square meters on a single charge. The increasing urbanization, disposable income, and infrastructure activities ...
Post a Comment
Read more

Construction Equipment Rental Market: The Role of Digitalization and Automation

  The global construction equipment rental market size is expected to reach   USD 280.13 billion by 2030 , registering a CAGR of 6.12% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing government spending on infrastructure projects and rising Foreign Direct Investment (FDI) in the building sector for skyscrapers, motorways, bridges, and smart cities is driving the growth. The market for renting construction equipment is expanding as a result of ongoing technological advancements that result in modern construction tools that focus on projects and streamline the entire construction process. Small and medium-sized construction enterprises and contractors are encouraged to use rental construction equipment due to the higher total cost of ownership of modern construction equipment and machines. Additionally, construction equipment leasing offers a cost-effective substitute for purchasing for construction companies since it lowers the costs of owne...
Post a Comment
Read more

Data Center Cooling Market Report: Analysing Demand In The Cloud Computing Era

  Data Center Cooling Industry Overview The global data center cooling market size was estimated at USD 18.65 billion in 2023 and is expected to grow at a compounded annual growth rate (CAGR) of 16.8% from 2024 to 2030. The increasing demand for energy-efficient data centers is anticipated to create lucrative growth opportunities for the market. Several key companies are preparing for the expansions. Moreover, the favorable growth prospects can be attributed to the rapid increase in data generation and the subsequent rise in the demand for data centers across the globe. Data centers consume a large amount of power, which generates a massive amount of heat, which creates the need for efficient cooling equipment. Gather more insights about the market drivers, restrains and growth of the  Data Center Cooling Market Furthermore, the growing popularity of OTT platforms and streaming services has led to a remarkable increase in data volumes; which is projected to fuel the demand. Th...
Post a Comment
Read more