Press Release

Structural Insulated Panels Market to Grow with a CAGR of 5.19% through 2028

Increased demand for energy-efficient buildings and Growing demand for prefabricated buildings are likely to drive the market in the forecast period.

 

According to TechSci Research report, “Structural Insulated Panels Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Structural Insulated Panels Market stood at USD 5.08 billion in 2022 and is anticipated to grow with a CAGR of 5.19% in the forecast period. One of the primary drivers propelling the global Structural Insulated Panels (SIPs) Market is the increasing emphasis on energy efficiency and sustainability in the construction industry. As global awareness of environmental issues and energy consumption grows, builders, homeowners, and businesses are seeking construction materials and techniques that reduce energy usage and promote sustainability. SIPs are highly regarded for their outstanding thermal insulation properties, which significantly enhance the energy efficiency of buildings. Their airtight construction minimizes heat loss in the winter and heat gain in the summer, reducing the need for extensive heating, ventilation, and air conditioning (HVAC) systems. This results in reduced energy consumption and lower utility bills, making SIPs an economically attractive choice for both residential and commercial applications. Additionally, SIPs often incorporate eco-friendly materials and sustainable construction practices. Many SIPs are made from renewable resources, such as oriented strand board (OSB) and expanded polystyrene (EPS) insulation cores, aligning with sustainability goals. As governments and industry bodies worldwide promote energy-efficient and green building standards, the demand for SIPs as a sustainable construction solution continues to grow.

The speed and efficiency of construction represent another significant driver of the global Structural Insulated Panels (SIPs) Market. SIPs are pre-fabricated, factory-made panels that arrive on-site ready for installation. This prefabrication and ease of assembly significantly accelerate the construction process compared to traditional stick-built methods. Builders and contractors appreciate the efficiency gains offered by SIPs, as they can complete projects in less time. This time-saving advantage is particularly crucial in regions with short construction seasons or where project timelines are critical. The efficiency of SIPs construction also leads to cost savings. Reduced labor costs, minimized construction waste, and fewer weather-related delays contribute to lower overall project expenses. Builders and developers seeking to optimize construction timelines and budgets find SIPs to be a valuable solution. In conclusion, energy efficiency and sustainability objectives, along with the speed and efficiency of construction processes, are two major drivers that are fueling the adoption of Structural Insulated Panels (SIPs) in the global construction industry. These drivers address crucial aspects of modern construction, including environmental responsibility, energy conservation, and streamlined building processes. As the demand for high-performance and sustainable building solutions continues to rise, SIPs are well-positioned to meet these needs and remain a dominant force in the construction market.     

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Structural Insulated Panels Market.” 

 

The Global Structural Insulated Panels Market is segmented into product, skin material application and region.

Based on product, The Expanded Polystyrene Panel segment had the largest market share in 2022 & expected to maintain in the forecast period. Expanded Polystyrene (EPS) panels are dominating the global Structural Insulated Panels (SIPs) Market for several compelling reasons for instance, EPS panels are renowned for their exceptional insulation properties. The expanded polystyrene core in SIPs effectively reduces heat transfer, keeping buildings warmer in the winter and cooler in the summer. This level of insulation significantly improves energy efficiency, making EPS SIPs an attractive choice for energy-conscious consumers and builders. EPS panels are often more cost-effective than alternative core materials such as polyurethane foam or extruded polystyrene. This affordability appeals to a broad range of consumers, from homeowners looking for economical insulation solutions to builders aiming to control construction costs while delivering energy-efficient structures. EPS SIPs are lightweight and easy to handle, reducing labor costs during installation. Their simplicity and precision in construction accelerate building timelines, which can be a crucial advantage, especially in regions with short construction seasons or tight project schedules.

Based on application, The Residential segment had the largest market share in 2022 and is projected to experience rapid growth during the forecast period. The residential sector is dominating the global Structural Insulated Panels (SIPs) Market for several key reasons for instance, Energy efficiency is a top priority for homeowners and builders alike. SIPs offer exceptional thermal insulation, reducing energy consumption for heating and cooling. This is especially appealing for residential buildings where homeowners seek to lower their energy bills and reduce their carbon footprint. The energy savings provided by SIPs translate into long-term cost savings for homeowners. Lower utility bills and reduced maintenance costs make SIPs an economically attractive option, aligning with the financial goals of residential buyers. SIPs simplify and expedite the construction process for residential builders. These pre-fabricated panels are designed for easy assembly, reducing construction time and labor costs. This efficiency is highly valuable for residential projects, where quicker construction means faster occupancy or sale of properties.

 

Major companies operating in Global Structural Insulated Panels Market are:

  • Owens Corning
  • Kingspan Group
  • PFB Corporation
  • Alucor
  • Metl-Span LLC
  • Premier Building Systems
  • Saint-Gobain Rigips GmbH
  • InGreen Building Systems
  • Bison Building Systems

 

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“The Global Structural Insulated Panels market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. Structural Insulated Panels (SIPs) are energy-efficient building materials that can help to reduce energy consumption. This is driving the demand for SIPs in the construction industry. SIPs are prefabricated building materials that can be easily assembled on-site. This is driving the demand for SIPs in the construction industry. Similarly, Governments around the world are imposing stricter regulations on energy efficiency in buildings. This is driving the demand for SIPs in the construction industry. Also, Rising disposable incomes are leading to increased spending on housing. This is driving the demand for SIPs in the construction industry. Therefore, the market of Structural Insulated Panels is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Structural Insulated Panels Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Expanded Polystyrene Panel, Rigid Polyurethane and Rigid Polyisocyanurate Panel, Glass Wool Panel, and Other), By Skin Material (Oriented Strand Board, Plywood, and Other), By Application (Residential and Commercial), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Structural Insulated Panels Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Structural Insulated Panels Market.

 

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