Over US$ 643 Mn Opportunity to be created in 2031 as Structural Insulated Panels Market Renews Pre-pandemic Growth Status

NEW YORK, Aug. 5, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per a recent market survey by Fact.MR, the global structural insulated panels market reached US$ 360 Mn in 2020. With a favorable demand outlook, the market is poised to grow by 1.6x its current valuation, reaching nearly US$ 643 Mn by 2031.

Rapid expansion in the construction sector, particularly in residential and commercial projects is boosting the sales of structural insulated panels. Considering this, Fact.MR projects the market to exhibit a steady 5% CAGR from 2021 to 2031.

The unprecedented outcomes of the COVID-19 pandemic disrupted market, albeit provisionally. With resumptions in construction activities across the globe, the structural insulated panels market is expected to regain its pre-pandemic status.

Applications of structural insulated panels in roofs, ceilings, and exterior walls are gaining momentum due to their cost-effective and optimal insulation features. Structural insulated panels provide effective insulation against excessive heat and cold, which is encouraging their adoption in diverse construction projects.

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With the world making conscious efforts to tackle greenhouse emissions and temperature imbalance, sales of structural insulated panels are anticipated to increase.

Structural insulated panels are eco-friendly and encourage sustainable construction activities by minimizing waste. These factors will result in positive demand outlook in the structural insulated panels market.

 Fact.MR's regional market analysis identifies lucrative growth opportunities in the South Asia. Green building initiatives, particularly in China are expected to propel sales of structural insulated panels through 2031.

"Development of smart cities across the globe, coupled with increasing applications of structural insulated panels in cold storage will bolster sales through the assessment period," says the Fact.MR analyst.

Key Takeaways from Structural Insulated Panels Market Survey

• In terms of facing material, oriented strand board (OSB) structural insulated panels will emerge dominant, holding 61% of the total market share.
• Structural insulated panels increasing applications in floors and walls, accounting for more than 46% of the total market share.
• Expanded Polystyrene (EPS) structural insulated panels will remain top-selling in terms of insulation material.
• China will emerge as a dominant market owing to increasing application of structural insulated panels in green building projects.
• Growing concerns regarding energy conservation in the U.S. are encouraging adoption of structural insulated panels, placing the country as a lucrative market.
• The U.K. will register demand uptick amid implementation of stringent emission control rules by the European Union.

Growth Drivers:

• Cost-effectiveness and sustainability of structural insulated panels will boost sales in the market.
• Increasing development of smart cities across the globe is anticipated to fuel sales through 2031.

Restraints:

• Gaps in production and retail prices of structural insulated panels might stunt market growth.

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Competitive Landscape

As per Fact.MR's analysis, key companies are focusing on long-term partnerships with builders and construction houses as a part of their growth strategies.

For instance, in July 2020, Owens Corning, an Ohio-based building materials provider, acquired Vliepa GmBH, which specializes in nonwovens and paper for building materials. The acquisition is intended to expand Owens Corning's operations in the European market.

Key Players in the Structural Insulated Panels Market Include:

• Owens Corning
• Kingspan Group
• PFB Corporation
• Alubel SpA
• Enercept, Inc.
• Foard Panel Inc.
• Extreme Panel Technologies, Inc.
• T. Clear Corporation
• Premier SIPs
• ACME Panel Company
• Metl-Span
• KPS Global
• Isopan
• American Insulated Panel
• Structural Panels Inc.
• All-Weather Insulated Panels
• Ingreen Systems Corp.

More Valuable Insights on Structural Insulated Panels Market

Fact.MR provides an unbiased analysis of the structural insulated panels market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global structural insulated panels market with a detailed segmentation on the basis of:

Facing Material:

• Oriented Strand Board (OSB) Structural Insulated Panels
• Magnesium Oxide (MgO) Board Structural Insulated Panels
• Other Facing Materials

Insulation Material:

• EPS Structural Insulated Panels
• Glasswool Structural Insulated Panels
• Polyurethane Structural Insulated Panels
• Other Insulation Material Based Structural Insulated Panels

Application:

• Structural Insulated Panels for Floors and Walls
• Structural Insulated Panels for Roofs
• Structural Insulated Panels for Cold Storage

End-Use:

• Structural Insulated Panels for Residential Use
• Structural Insulated Panels for Commercial Use

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Key Questions Covered in the Structural Insulated Panels Market Report 

• The report offers insight into structural insulated panels market demand outlook for 2021-2031
• The market study also highlights projected sales growth for structural insulated panels market between 2021 and 2031
• Structural insulated panels market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Structural insulated panels market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Explore Fact.MR's Coverage on the Chemical & Materials Domain –

Active Insulation Market- Strong growth will be fueled by millennial customers' increased disposable income and expanding demand for athletic & sportswear textile applications of active insulation products. The active textile insulation market will be shaped by demand trends such as thermal management and better breathability in active wear and sportswear. Concerns about the energy efficiency of infrastructure projects around the world are driving widespread adoption of active insulation products in the building and construction industry. When classified by application type, active insulation in building & construction activities has maintained a stranglehold on overall market value.

Expanded Polystyrene Market- The demand for Expanded Polystyrene in the construction industry has increased because to a growing preference for environmentally acceptable construction polymers. Various studies imply that if suitable steps are not taken, greenhouse gas emissions from buildings could reach hazardous levels in the near future. Polymer composites are becoming increasingly used in the building industry. The construction and building industry is fully aware of the issues it will face in the next millennium and is constantly looking for innovative solutions to meet those challenges. This opens several possibilities for expanded polystyrene.

Refrigeration Insulation Materials Market- The worldwide refrigeration insulating materials market is expected to expand in absolute terms between 2020 and 2030,. The refrigerated insulating materials market has benefited from the ever-increasing demand for food preservation, LNG demand, and industrial HVAC. Refrigeration insulation materials have greatly lowered energy use for cooling, resulting in increased global refrigeration insulation material consumption. Furthermore, as major tactics in the refrigeration insulating materials market, firms have been engaging in acquisitions and alliances.

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