Global Structural Insulated Panels Market by Application (Roofs, Walls & Floors), by Product (Polystyrene, Polyurethane) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
Global structural insulated panels market was valued at USD 11.17 Billion in 2020. It is projected to grow at a compound annual rate (CAGR of 5.5%) between 2021 and 2028. The market is expected to be driven by favorable green building standards and regulations that encourage the use of insulation materials in buildings. This, along with growing investments in cold chain infrastructure development across the globe, are key factors. Because they are lighter, more attractive and have better thermal performance, structural insulated panels (SIPs), are expected to be widely accepted. The Federal Energy Policy Act 2005 provides a tax credit up to USD 2000 for builders of energy-efficient new homes built according to the Federal Manufactured Homes Construction and Safety Standards.
Due to its cost-effectiveness and robust insulation properties, the U.S. market for structural insulated panels was led by the polystyrene segment in 2020. Future product demand in the U.S. market will be driven by investments in renovations of old buildings.
Because of their ability to speed up construction times, structural insulated panels are widely used for warehouse construction. There is an increasing demand for warehouses and delivery hubs in the sector due to the growth of the eCommerce industry. The market is expected to grow due to the positive effect of major technology companies like Amazon, Google, Microsoft and Alibaba setting up local data centers.
Structural insulation panels are made at manufacturing facilities, and then shipped to the jobsite in a ready for installation state. Due to their fireproof properties, durability, and superior finish, metal sheets are becoming a popular choice for facing materials. Insulated metal panels can be applied directly to exterior walls of buildings by being available in a range of colors.
For the production of structural insulated panels, raw materials include Polyisocyanurate(PIR), Polyurethane(PU), Expanded Polystyrene/EPS, Extruded Polystyrene [XPS], and other. These products are all downstream derivatives from crude oil. The volatile price of crude oil on the international market is a major inhibitor to this industry's growth.
Product Insights
Polystyrene dominated the market, accounting for 72.0% of global revenue in 2020. It will continue to hold this position through the forecast period. These products are highly in demand due to their cost-effectiveness, dust and moisture resistance, and high demand. The tough, resilient surface of polystyrene provides a greater degree of puncture resistance as well as quakeproof properties. The fastest CAGR is expected to be in the polyurethane sector between 2021 and 2028.
The price of structural insulated polyurethane panels is higher than for other products, like polystyrene or glass wool. They are popularly used for insulation of cold chain storages due to their excellent thermal insulation and vapor diffusion resistant properties. The increasing importance placed on cold chain infrastructure development is expected to drive product demand in the forecast period. Due to its superior thermal insulation, fire resistance and noise insulation properties, the glass wool segment will grow at a 5.8% CAGR over the forecast period.
Application Insights
Walls and floors dominated the market, accounting for over 46.0% of global revenue in 2020. The segment is growing because of the increasing awareness about the economic benefits of effective building insulation. Wall insulation is an essential element to improve the energy efficiency of buildings. Insulated walls and floors can be combined to create a protective environment that eliminates heat transfer from outside through conduction radiation. This will reduce energy consumption for heating and cooling.
Because of its exceptional structural strength and insulation capabilities, the product is popular in cold storage. SIPs can be used in walls, ceilings and roofs for cold storage, freezers and food processing buildings. They can also retrofit existing controlled environments structures such as dry warehouses where temperature and insulation is important. A significant demand has been generated by the recent pandemic. This is to establish cold chain infrastructure in order to protect the Covid-19 vaccines as well as ensure seamless delivery.
Regional Insights
North America was the dominant market, accounting for 38.0% of global revenue in 2019. The market's growth is due to increased demand from the North American residential sector, a highly developed cold chain and logistics industry, as well as government initiatives to improve social infrastructure. The market will be driven by rising awareness about the benefits of insulation in building structures over the next few years.
Due to rapid growth in the residential and commercial construction sector and the adoption of green building standards, the Asia Pacific region is expected to grow the fastest. Over the forecast period, Africa and Middle East are expected to experience a substantial CAGR. Due to its dry climate and low rainfall, the region imports most of its food products from abroad. UAE is the regional's leading importer and trader of food products. It is seeing increasing investments in cold storage and cold chain logistics. This drives the demand to structural insulated panels.
Market Share Insights & Key Companies
The market's major companies are working hard to expand their product range by creating cost-effective insulation products that have enhanced properties. Through their network of installers and contractors certified by the manufacturer, they are also involved in product installation. These systems require expert services which may impact the final price. Dynamic market conditions are possible because companies invest heavily in R&D related to product manufacturing, supply and installation. The following are some of the major players in the global market for structural insulated panels:
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Metl-Span
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Kingspan Group
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PFB Corporation
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Isopan
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KPS Global
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American Insulated Panel
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Structural Panels Inc.
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All Weather Insulated Panels
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Ingreen Systems Corp.
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Owens Corning
Up Market Research published a new report titled “Structural Insulated Panels Market research report which is segmented by Application (Roofs, Walls & Floors), by Product (Polystyrene, Polyurethane), By Players/Companies Kingspan Group, Isopan, KPS Global, Ingreen Systems Corp, Structural Panels Inc, PFB Corporation, Metl-Span, All Weather Insulated Panels, Owens Corning, American Insulated Panel”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Structural Insulated Panels Market Research Report |
By Application | Roofs, Walls & Floors |
By Product | Polystyrene, Polyurethane |
By Companies | Kingspan Group, Isopan, KPS Global, Ingreen Systems Corp, Structural Panels Inc, PFB Corporation, Metl-Span, All Weather Insulated Panels, Owens Corning, American Insulated Panel |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 250 |
Number of Tables & Figures | 175 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Structural Insulated Panels Market Report Segments:
The market is segmented by Application (Roofs, Walls & Floors), by Product (Polystyrene, Polyurethane).
Structural Insulated Panels Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Structural Insulated Panels Market
Overview of the regional outlook of the Structural Insulated Panels Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Structural Insulated Panels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Structural Insulated Panels Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Roofs
2. Walls & Floors
7. By Product:1. Polystyrene
2. Polyurethane
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Structural Insulated Panels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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Reasons to Purchase the Structural Insulated Panels Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Structural Insulated Panels Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Structural Insulated Panels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Structural Insulated Panels Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Structural Insulated Panels Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Structural Insulated Panels Market Size & Forecast, 2018-2028
4.5.1 Structural Insulated Panels Market Size and Y-o-Y Growth
4.5.2 Structural Insulated Panels Market Absolute $ Opportunity
Chapter 5 Global Structural Insulated Panels Market Analysis and Forecast by Application
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Application
5.1.2 Basis Point Share (BPS) Analysis by Application
5.1.3 Absolute $ Opportunity Assessment by Application
5.2 Structural Insulated Panels Market Size Forecast by Application
5.2.1 Roofs
5.2.2 Walls & Floors
5.3 Market Attractiveness Analysis by Application
Chapter 6 Global Structural Insulated Panels Market Analysis and Forecast by Product
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Product
6.1.2 Basis Point Share (BPS) Analysis by Product
6.1.3 Absolute $ Opportunity Assessment by Product
6.2 Structural Insulated Panels Market Size Forecast by Product
6.2.1 Polystyrene
6.2.2 Polyurethane
6.3 Market Attractiveness Analysis by Product
Chapter 7 Global Structural Insulated Panels Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Structural Insulated Panels Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Structural Insulated Panels Analysis and Forecast
9.1 Introduction
9.2 North America Structural Insulated Panels Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Structural Insulated Panels Market Size Forecast by Application
9.6.1 Roofs
9.6.2 Walls & Floors
9.7 Basis Point Share (BPS) Analysis by Application
9.8 Absolute $ Opportunity Assessment by Application
9.9 Market Attractiveness Analysis by Application
9.10 North America Structural Insulated Panels Market Size Forecast by Product
9.10.1 Polystyrene
9.10.2 Polyurethane
9.11 Basis Point Share (BPS) Analysis by Product
9.12 Absolute $ Opportunity Assessment by Product
9.13 Market Attractiveness Analysis by Product
Chapter 10 Europe Structural Insulated Panels Analysis and Forecast
10.1 Introduction
10.2 Europe Structural Insulated Panels Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Structural Insulated Panels Market Size Forecast by Application
10.6.1 Roofs
10.6.2 Walls & Floors
10.7 Basis Point Share (BPS) Analysis by Application
10.8 Absolute $ Opportunity Assessment by Application
10.9 Market Attractiveness Analysis by Application
10.10 Europe Structural Insulated Panels Market Size Forecast by Product
10.10.1 Polystyrene
10.10.2 Polyurethane
10.11 Basis Point Share (BPS) Analysis by Product
10.12 Absolute $ Opportunity Assessment by Product
10.13 Market Attractiveness Analysis by Product
Chapter 11 Asia Pacific Structural Insulated Panels Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Structural Insulated Panels Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Structural Insulated Panels Market Size Forecast by Application
11.6.1 Roofs
11.6.2 Walls & Floors
11.7 Basis Point Share (BPS) Analysis by Application
11.8 Absolute $ Opportunity Assessment by Application
11.9 Market Attractiveness Analysis by Application
11.10 Asia Pacific Structural Insulated Panels Market Size Forecast by Product
11.10.1 Polystyrene
11.10.2 Polyurethane
11.11 Basis Point Share (BPS) Analysis by Product
11.12 Absolute $ Opportunity Assessment by Product
11.13 Market Attractiveness Analysis by Product
Chapter 12 Latin America Structural Insulated Panels Analysis and Forecast
12.1 Introduction
12.2 Latin America Structural Insulated Panels Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Structural Insulated Panels Market Size Forecast by Application
12.6.1 Roofs
12.6.2 Walls & Floors
12.7 Basis Point Share (BPS) Analysis by Application
12.8 Absolute $ Opportunity Assessment by Application
12.9 Market Attractiveness Analysis by Application
12.10 Latin America Structural Insulated Panels Market Size Forecast by Product
12.10.1 Polystyrene
12.10.2 Polyurethane
12.11 Basis Point Share (BPS) Analysis by Product
12.12 Absolute $ Opportunity Assessment by Product
12.13 Market Attractiveness Analysis by Product
Chapter 13 Middle East & Africa (MEA) Structural Insulated Panels Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Structural Insulated Panels Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Structural Insulated Panels Market Size Forecast by Application
13.6.1 Roofs
13.6.2 Walls & Floors
13.7 Basis Point Share (BPS) Analysis by Application
13.8 Absolute $ Opportunity Assessment by Application
13.9 Market Attractiveness Analysis by Application
13.10 Middle East & Africa (MEA) Structural Insulated Panels Market Size Forecast by Product
13.10.1 Polystyrene
13.10.2 Polyurethane
13.11 Basis Point Share (BPS) Analysis by Product
13.12 Absolute $ Opportunity Assessment by Product
13.13 Market Attractiveness Analysis by Product
Chapter 14 Competition Landscape
14.1 Structural Insulated Panels Market: Competitive Dashboard
14.2 Global Structural Insulated Panels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Kingspan Group
14.3.2 Isopan
14.3.3 KPS Global
14.3.4 Ingreen Systems Corp
14.3.5 Structural Panels Inc
14.3.6 PFB Corporation
14.3.7 Metl-Span
14.3.8 All Weather Insulated Panels
14.3.9 Owens Corning
14.3.10 American Insulated Panel