The report of global structural insulated panel market by Product (Expanded polystyrene (EPS) panels, Polyurethane insulated (PUR) panels, Glass wool panels, Others), Application (Wall, Floor, Roof, Cold Storage), End-User (Residential, Commercial, Institutional, Others), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 7% during a forecast period.
Structural insulated panels (SIPs) are a part of the fast-developing construction techniques that have valuable properties and provide exceptional features to the construction enclosures. The global structural insulated panel market is driven by the increasing demand for affordable and cost-effective residential housing solutions, and favorable government regulations & programs supporting the construction of green buildings. However, the high raw material price combined with stringent regulations on raw materials, are restraining the market growth at the global level. The high product and transportation costs of structural insulated panels are major challenges for the structural insulated panel market growth in the near future.
Wall and floor segment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the wall and floor segment has dominated the structural insulated panel market and is estimated to grow at a CAGR of XX% during the forecast period. Expanding construction ventures with energy-efficient and green materials, significantly for residential applications are likely to drive the demand for structural insulated panels in wall and floor construction. The rising necessity for the redesign of residential structures by the quality of improving expectations for everyday comforts and high spending capacity is projected to boost the structural insulated panels market growth.
The North America dominated the Structural Insulated Panel market in 2019
In 2019, North America held the XX% share of the Structural Insulated Panel market and is expected to maintain its dominance during the forecast period owing to the early acceptance, high consumer awareness, and government support for energy-efficient and green constructions in the region. Asia Pacific is expected to grow at the CAGR of XX% during the forecast period thanks to the increasing construction activities supported by expanding investments from overseas multinationals companies. The growing production and consumption of packaged and processed food in the Asia Pacific have generated opportunities for the construction of cold storage facilities, thus are supporting the market for structural insulated panels.
Key players operating the global Structural Insulated Panel market are Alubel SpA, ArcelorMittal, BALEX-METAL, Isopan (Manni Group SpA), Italpannelli SRL, Kingspan Group, Marcegaglia SpA, Metecno, NCI Building Systems, DANA Group of Companies, Jiangsu Jingxue Insulation Technology Co. Ltd, Multicolor Steels (India) Pvt Ltd, Nucor Building Systems, Owens Corning, PFB Corporation, Premier Building Systems, Rautaruukki Corporation, Tata Steel Europe Limited, Zamil Steel Pre-Engineered Buildings Co. Ltd, Eagle Panel Systems, Romakowski GmbH & Co. KG, and Foam Laminates.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Structural Insulated Panel Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Structural Insulated Panel Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Structural Insulated Panel Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Structural Insulated Panel Market.”
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