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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