Structural Insulated Panels Market Poised for Robust Growth, Forecasted to Expand at 5.8% CAGR from 2024-30

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Structural Insulated Panels Market size is valued at USD 11.2 billion in 2023 & is estimated to reach around USD 18.1 Billion in 2030. The market is also expected to grow at a CAGR of around 5.8% during the forecast period, i.e., 2024-30. 

Report Coverage

This report offers a comprehensive analysis of the Structural Insulated Panels Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2023
• Forecast Years: 2024-30
• Historical Years: 2019-22

Structural Insulated Panels Market Overview

Most of the market expansion is projected to be driven by the mounting demand for SIPs in the globally booming construction sector due to their benefits, including enhanced energy efficiency, cost-effectiveness, and easy operation, as well as their composite nature that makes them highly versatile for any type of construction.

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Structural Insulated Panels Market Segmentation Outlook

The Structural Insulated Panels is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Insulation Material

• Polystyrene- Market Size & Forecast 2019-2030, USD Million
• Polyurethane- Market Size & Forecast 2019-2030, USD Million
• Expanded Polystyrene- Market Size & Forecast 2019-2030, USD Million

By Facing Material

• Oriented Strand Board (OSB) - Market Size & Forecast 2019-2030, USD Million
• Magnesium Oxide Board (MOB) - Market Size & Forecast 2019-2030, USD Million

By Application

• Floor- Market Size & Forecast 2019-2030, USD Million
• Wall- Market Size & Forecast 2019-2030, USD Million
• Ceiling- Market Size & Forecast 2019-2030, USD Million

By Distribution Channel

• Offline- Market Size & Forecast 2019-2030, USD Million
• Online- Market Size & Forecast 2019-2030, USD Million

By End User

• Household- Market Size & Forecast 2019-2030, USD Million
• Commercial- Market Size & Forecast 2019-2030, USD Million

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Structural Insulated Panels Market Challenge

Lack of knowledge of Structural Insulated Panels – The high adoption of SIPs owing to their advanced features also requires extensive knowledge and awareness regarding the benefits that these panels offer. Construction workers such as Architects, contractors, and builders are the only individuals who gained the expertise and concerned knowledge of SIPs, which is not sufficient. For SIPs to be extensively used, more construction workers must get proper knowledge regarding the advantages of SIPs and the proper installation procedures. This lack of awareness is expected to hamper the market growth.

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Top Structural Insulated Panels Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies ACME, American Insulated Panel, Extreme Panel, InGreen Systems, Kingspan Group PLC, Owens Corning, PFB Corporation, T Clear Corporation, Enercept, Foard Panel, METL Span, KPS Global, Isopan, All Weather Insulated Panel, Porter Corp Others as key players shaping the market landscape.

Structural Insulated Panels Market News

• In December 2021, the Riverside Company, by an affiliate, completed the acquisition of PFB Corporation, a North America-based manufacturer of proprietary insulating building products based on EPS (Expanded Polystyrene) technology.
• The same year in July, Owens Corning announced the acquisition of Vliepa GmbH, which specializes in printing, finishing, and coating of films, papers, & nonwovens for the building materials industry.
• In June 2021, Kingspan group partnered with TU (Technological University) Dublin for developing the university’s innovative Design and Construct Centre, located at Broombridge.
• In August 2020, Owens Corning introduced Foamular NGX, a new line of XPS (Extruded Polystyrene) foam insulation products. Produced with a proprietary blowing agent, it goes well beyond most regulations and delivers around a 90% reduction in GWP (Global Warming Potential) without compromising product performance.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2030?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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