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The global structural insulated panels market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Structural insulated panels (SIPs) are pre-fabricated lightweight building systems commonly used for residential and light-commercial constructions. The panels are manufactured using an insulating foam core made of polyisocyanurate (PIR), polyurethane (PU), expanded polystyrene (EPS) and extruded polystyrene (XPS) inserted between two structural facings or oriented strand boards (OSB). These panels are used in ceilings, roofs, walls and floors and can be combined with bricks, blocks, stones, tiles, slates, woods, steels and glasses to enhance durability, energy-efficiency and overall cost-effectiveness. They are also used in cold storage systems for maintaining optimal temperatures with minimal energy requirements.
Significant growth in the construction industry across the globe is one of the key factors creating a positive outlook for the market. With the rising environmental consciousness among the masses, there is a growing demand for non-combustible, lightweight, thermal resistant and flexible building materials. In line with this, the increasing demand for SIPs for cold storage applications across industries is also contributing to the growth of the market. SIPs are widely used for food processing, food preparation, warehousing and storage systems for temperature-sensitive pharmaceutical and retail products. Additionally, various product innovations, such as the development of soundproof variants and curved wall panels, are acting as other growth-inducing factors. These novel SIPs are highly used for stud framing and non-orthogonal designs on the walls. Other factors, including extensive infrastructural developments, especially in the developing economies, along with the implementation of favorable government policies to minimize greenhouse gas (GHG) emissions, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global structural insulated panels market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product and application.
Breakup by Product:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles 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.
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