Global Structural Insulated Panel Market, By Product (Glass Wool, Stone Wool, Expanded Polystyrene (EPS) Panel, Extruded Polystyrene Foam Panel, Phenolics, PU/PIR, Flexible Insulation), Skin Type (OSB Two Sides, OSB One Side), Application (Walls, Roofs, Floors), End User (Residential, Commercial, Non-Building) – Industry Trends and Forecast to 2029.
Structural Insulated Panel Market Analysis and Size
Structural insulated panels are high-performance building systems which is used in the construction industry. Structural insulated panel is generally used as an insulator in the construction and building industries. The industry growth is mainly driven by the growing investments in energy-efficient infrastructure all over the globe. The increasing adaptation of construction of energy-efficient and green buildings and rising demand for cold storage are expected to support the growth of the structural insulated panels market during the forecast period.
Data Bridge Market Research analyses that the structural insulated panel market is expected to undergo a CAGR of 6.00% during the forecast period. This indicates that the market value, which was USD 11.84 billion in 2021, would rocket up to USD 18.87 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Structural Insulated Panel Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Glass Wool, Stone Wool, Expanded Polystyrene (EPS) Panel, Extruded Polystyrene Foam Panel, Phenolics, PU/PIR, Flexible Insulation), Skin Type (OSB Two Sides, OSB One Side), Application (Walls, Roofs, Floors), End User (Residential, Commercial, Non-Building)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Kingspan Group (Ireland), ACME PANEL (U.S.), Eagle Panel Systems, Inc, (U.S.), Isopan (Spain), ArcelorMittal (Luxembourg), Foard Panel (U.S.), FBA (U.S.), DANA Group of Companies (U.A.E.), ICS Eco-SIPs (Singapore), ITALPANNELLI SRL (Italy), Lattonedil (Italy), Cornerstone Building Brands (U.S.), METECNO (India), The Murus Company (U.S.), T Clear Corporation (U.S.)
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Market Opportunities
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Market Definition
Structural insulated panel is a sandwich structured composite containing an insulating layer of rigid core sandwiched which is placed between two layers of structural board. The board can be sheet metal, magnesium oxide board (MgO) or oriented strand board (OSB), plywood, cement and the core which can either be expanded extruded polystyrene foam (XPS), polyisocyanurate foam, polyurethane foam, polystyrene foam (EPS), or composite honeycomb (HSC).
Global Structural Insulated Panel Market Dynamics
Drivers
- High usage of structural insulated panel in residential applications
The residential segment is expected to be the significant segment in the structural insulated panels market. This is mainly due to favorable lending policies initiated by governments all over the globe, which increase the sales of residential construction ventures. The spending on residential construction is projected to witness growth, mainly in emerging countries. All these are some major factors expected to drive the growth of the global structural insulated panels market.
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Increased demand of structural insulated panels for cold storage applications
The structural insulated panels are extensively used and adopted in several end-use industries to construct cold storage facilities. It is a dynamic element for numerous businesses such as warehousing, food processing, food preparation, and storage systems, as well as for retail and pharmaceutical solutions. The demand for cold storage systems is anticipated to increase the application of structural insulated panels in the market.
- Growing demand structural insulated panel in construction industry
Development in the construction industry has boosted the demand for structural insulated panel products in last few years. This trend is also anticipated to continue during the forecast period because of rising demand of green buildings and growing energy conservation regulations overall the globe. Structural insulated panel aids in decreasing the cost of total infrastructure by reducing the energy consumption in buildings. The rising demand of structural insulated panel are expected to drive the market's growth rate.
Opportunities
- Surge in commercial and residential construction
Continuous residential and commercial construction growth has intensified the demand for the structural insulated panels. The excellent insulation qualities, low cost, strength, and other are some major characteristics which will increase the demand of the structural insulated panels for the applications in building construction. The rising demand of structural insulated panels in commercial and residential construction are expected to create immense opportunities for the market growth.
Restraints/Challenges
- Fluctuation in cost
The high cost of raw material used for the production of structural insulated panel products is the major factor expected to challenge the growth of global structural insulated panel market during the forecast period.
Furthermore, lack of awareness regarding advanced building technology and strict regulations on raw materials may hamper the growth of the structural insulated panel market during the forecast period of 2022-2029.
This structural insulated panel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the structural insulated panel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Structural Insulated Panel Market
The outbreak of the COVID-19 pandemic has declined the growth of the structural insulated panel market globally. Structural insulated panel materials have experienced a decrease in demand, mainly during the initial stages of the epidemic, when major infrastructure and construction projects were temporarily shut down. However, with steady ease of containment measures, the construction activities have picked up pace in several regions. Due to all these factors, the demand of the product has remained fairly steady and is likely to increase in the upcoming period.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In August 2020, Owens Corning launched a new product line named Foamular NGX. It is a new line of Extruded Polystyrene (XPS) foam products that offers 90% reduction in the Global Warming Potential (GWP) without losing product performance.
Global Structural Insulated Panel Market Scope
The structural insulated panel market is segmented on the basis of product, skin type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Glass Wool
- Stone Wool
- Expanded Polystyrene (EPS) Panel
- Extruded Polystyrene Foam Panel
- Phenolics
- PU/PIR
- Flexible Insulation
Skin Type
- OSB Two Sides
- OSB One Side
Application
- Walls
- Roofs
- Floors
End User
- Residential
- Commercial
- Non-Building
Structural Insulated Panel Market Regional Analysis/Insights
The structural insulated panel market is analysed and market size insights and trends are provided by country, product, skin type and application as referenced above.
The countries covered in the structural insulated panel market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the structural insulated panel market in terms of market share. This is due to the introduction of programs counting LEED, ICC’s Model Energy Codes and Energy Star building certification in countries of this region.
Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the rising construction sector, infrastructural investments, and government initiatives in this regions.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Structural Insulated Panel Market Share Analysis
The structural insulated panel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to structural insulated panel market.
Some of the major players operating in the structural insulated panel market are:
- Kingspan Group (Ireland)
- ACME PANEL (U.S.)
- Eagle Panel Systems, Inc, (U.S.)
- Isopan (Spain)
- ArcelorMittal (Luxembourg)
- Foard Panel (U.S.)
- FBA (U.S.)
- DANA Group of Companies (UAE)
- ICS Eco-SIPs (Singapore)
- ITALPANNELLI SRL (Italy)
- Lattonedil (Italy)
- Cornerstone Building Brands (U.S.)
- METECNO (India)
- The Murus Company (U.S.)
- T Clear Corporation (U.S.)
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