Global Structural Insulated Panels Market to Reach US$ 685.1 Million by 2032, Propelled by Increasing Construction Activities

March 09, 2023 | Chemical & Materials

The latest report by IMARC Group, titled "Structural Insulated Panels Market Report by Product (Polystyrene, Polyurethane, Glass Wool, and Others), Application (Walls and Floors, Roof, Cold Storages), and Region 2024-2032," finds that the global structural insulated panels market size reached US$ 461.0 Million in 2023. Structural insulated panels, also known as SIPs, are advanced building systems that are utilized in residential and commercial construction projects. They are produced by layering insulating materials, such as polyurethane, polyisocyanurate, expanded polystyrene, and extruded polystyrene, between two strong structural facings made of oriented strand boards (OSB). They also offer improved energy efficiency, reduce heat transfer, and provide extra strength and durability compared to traditional insulation methods. Moreover, SIPs also find extensive applications in cold storage systems to maintain optimal temperatures with minimal energy usage.

Global Structural Insulated Panels Market Trends:

The market is primarily driven by the increasing construction of residential and commercial buildings. In addition, the rising environmental awareness among the masses and the growing inclination toward eco-friendly, non-flammable, thermal-resistant, and flexible building materials represent another major growth-inducing factor. Besides this, SIPs are widely used for cold storage applications across various industries. This, coupled with the escalating demand for temperature-sensitive products, such as food and pharmaceuticals, is positively influencing the market growth. Moreover, the market is also propelled by the implementation of favorable government policies to reduce greenhouse gas emissions. Furthermore, the easy availability of soundproof and curved wall panels and the emerging trend of developing green cities are also creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 685.1 Million by 2032, exhibiting a CAGR of 4.4% during the forecast period (2024-2032). 

Market Summary:

  • Based on the product, the market has been segmented into polystyrene, polyurethane, glass wool, and others.
  • On the basis of the application, the market has been classified into walls and floors, roofs, and cold storage.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being All Weather Insulated Panels, American Insulated Panel, Enercept Inc., Ingreen Systems Corp., Isopan (Manni Group S.p.A), Kingspan Group plc, KPS Global, Metl-Span Llc (Cornerstone Building Brands), Owens Corning, PFB Corporation, Premier Building Systems Inc and Structural Panels Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered All Weather Insulated Panels, American Insulated Panel, Enercept Inc., Ingreen Systems Corp., Isopan (Manni Group S.p.A), Kingspan Group plc, KPS Global, Metl-Span Llc (Cornerstone Building Brands), Owens Corning, PFB Corporation, Premier Building Systems Inc and Structural Panels Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Structural Insulated Panels Market to Reach US$ 685.1 Million by 2032, Propelled by Increasing Construction Activities
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