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

Earthmoving Equipment Market Research Report By Scope and Applications

  Global Earthmoving Equipment Market is expected to reach USD 184.56 billion by 2022. Earthmoving Equipment is a heavy machine mainly designed for construction operations that involve earth work. It is exclusively used to dig foundations for landscaping and move large amount of earth. It is also termed as heavy hydraulics, heavy trucks, engineering equipment, heavy machines, and construction equipment. However, hydraulic drive is used as a main source of motion. The Earthmoving Equipment Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe. Growth in construction spending, technological enhancement, high spending on R&D activities by manufacturers are documented as major factors of Earthmoving Equipment Market that are estimated to enhance the growth in the years to come. However, high cost of raw material are the factors that may restrain overall market growth in the coming years. E...
1 comment
Read more

Smart Bathroom Industry: Squeaky Clean & Smarter Than Ever

    Smart Bathroom Industry Data Book Covers Smart Toilet, Smart Bathroom Soap Dispenser, Faucets, Showers, Mirrors and Smart Bathtubs Markets.   The global smart toilet market size was valued  USD 6,573.9 million in 2022 , expanding at a  CAGR of 12.0%  from 2023 to 2030. The growing interest among consumers in home automation and the incorporation of smart devices is a significant driver for the growth of the smart bathroom market. Consumers are actively seeking innovative and user-friendly solutions that can enhance their bathroom experiences.   Access the Global  Smart Bathroom Industry Data Book  from 2023 to 2030, compiled with details by Grand View Research Smart Toilet Market Growth & Trends The global smart toilet market size was valued USD 2,664.8 million in 2022, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.5% over the forecast period. Rising consumer awareness regarding cleanliness and main...
Post a Comment
Read more

Global Softwood Market will grow at a CAGR of 3.43% during the period 2018-2022

Softwood is obtained from trees such as pine, cedar, spruce, and others. Softwood lumber is usually referred to as timber in North America and these woods are processed to improve their properties for being used in different end-user industries.  Covered in this report  The report covers the present scenario and the growth prospects of the global softwood market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of softwood across construction and industrial end-user industries. The market is divided into the following segments based on geography:  •    Americas •    APAC •    EMEA Request a Free Sample Copy of Softwood Market Report @    https://www.radiantinsights.com/research/global-softwood-market-2018-2022/request-sample Global Softwood Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The repo...
Post a Comment
Read more