The Global Structural Insulated Panels Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Global Structural Insulated Panels market is segmented by Product type (Polystyrene, Polyurethane and Others); Application (Walls and floors, Roof and cold storage); Region (North America, Europe, APAC, ROW).
Introduction
Structural insulated panels (SIPs) are high performance building systems used in residential and light commercial constructions. Structural insulated panels is a structured composite consisting of insulating layer of structured boards. It takes the form of sandwich panel.
Structural insulated panels are widely used in the construction industry. These are engineered panels used to construct ceilings, walls, and floors. Structural insulated panels is an ideal substitute for conventional construction methods such as framing lumber and insulation.
Despite the current pandemic situation, the structural insulated panel manufacturers are recovering their operations in full capacities from 2021 beginning. Along with this, the recovering construction activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6.Five Force analysis
7.Market Sizing
8.Market segmentation
9.Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10.Growth drivers
10.1 Regulations Focusing On Lowering Overall Energy Consumption
10.2 High demand for the product for promoting thermal energy conservation
11.Key Market Trends
12.Impact of Covid-19
13.Challenges
14.Customer Insights analysis
15.Major Market Players
15.1 Metl-Span
15.2 Kingspan Group
15.3 PFB Corporation
15.4 Isopan
15.5 KPS Global
15.6 American Insulated Panels
15.7 Structural Panels
15.8 All Weather Insulated Panels
15.9 Owens Corning
15.10 Ingreen Systems
16.Recent Developments
17.Future Scope
18.Strategic Recommendations
Market Overview
The global structural insulated panels market is expected to grow to $14.70 billion by 2025
Growth momentum is expected to accelerate during the forecast period with a 5.59% CAGR.
Favorable regulations, owing to the focus on lowering overall energy consumption, development of green buildings are rising popularity of structural insulated panels.
North America is dominating the market due to increased demand from the residential sector, extensively developed cold chain and logistics industry, and government initiatives to develop social infrastructure.
Key Trends
Green building initiatives across various regions, are anticipated to propel the demand for the market in the coming years.
Increasing healthcare infrastructure development across globe amid COVID-19 is expected drive the demand.
The increasing number of renovation and refurbishment projects in the developed countries is anticipated to boost the demand for materials, thereby propelling the industry growth.
Key Market Players
Some of the key players in the market are Metl-Span, Kingspan Group, PFB Corporation, Isopan, KPS Global, American Insulated Panels
The global players are focusing on expanding their product portfolio by developing cost-effective insulation products with enhanced properties. Companies invest significantly in R&D activities related to product manufacturing, supply, and installation, which results in dynamic market conditions.
Growth Drivers and Challenges
The rising investment in various construction and infrastructure projects across the globe is driving the market. The global construction industry is growing at a faster pace with a major contribution from emerging countries. The revenue is expected to reach approximately $14.98 trillion by 2025.
Favorable regulations, owing to the focus on lowering overall energy consumption, are driving the demand.
The volatility of raw material prices is restraining the market demand.
Low awareness about structural insulated panel products is limiting the market growth.
Environmentally friendly raw materials restricting the demand for traditionally used raw materials to insulation panels which are challenging industry players in the market.