The increasing focus on energy efficiency and economic feasibility in the overall construction industry has led to the increased demand for structural insulated panels. The global structural insulated panels market is anticipated to witness a tremendous growth due to factors such as the rising demand for structural insulated panels from the developing construction industry and the increasing construction of commercial and economic buildings in emerging economies. Moreover, the awareness regarding energy efficiency in the construction industry is rising, which is expected to create more opportunities for the global structural insulated panels market. However, the market growth is being obstructed by the fluctuating raw material prices that are used in the manufacturing of structural insulated panels.
Asia-Pacific is anticipated to witness the highest growth in the global structural insulated panels market during the forecast period.
Geographically, the global structural insulated panels market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Europe accounted for the largest market share in 2018, and is expected to retain its position by 2024. The presence of major market players in this region and the booming construction market is expected to continue driving the demand for structured insulated panels during the forecast period. Additionally, the leading structural insulated panels manufacturing companies are based in this region.
However, Asia-Pacific is expected to exhibit the highest CAGR of around 5.4%, owing to the rapid construction activities that adhere to the standards and regulations regarding energy efficiency. This can also be attributed to the increasing demolition of old and outdated infrastructure, which requires huge investments for renovation. The large-scale expansion of urban developments is expected to drive the global structural insulated panels market during the forecast period.
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On the basis of application, the commercial segment is expected to account for the largest market share in the global structural insulated panels market during the forecast period.
The commercial application segment accounted for the largest market share of around 45% in the global structural insulated panels market. This is because commercial buildings require structural insulated panels for various purposes such as building thermo-insulated roof panels, and walls, creating acoustic wall panels for a sound proof environment, and building leak-proof walls for maintaining the quality of buildings and reducing the repetitive costs of maintenance.
Scope of the Report
This study provides an overview of the global structural insulated panels market, tracking two market segments across four geographic regions. The report studies key players and provides a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world (RoW). The report also provides a forecast, which focuses on the market opportunities for the next five years for each region. The scope of the study segments the global structural insulated panels market by product, application, and region.
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By Product
- Expanded Polystyrene (EPS) Panels
- Polyurethane Insulated (PUR) Panels
- Polyurethane Insulated (PUR) Panels
- Glass Wool Panels
- Other Panels
By Application
- Residential
- Commercial
By Region
- North America
- Asia-Pacific
- Europe
- Rest of the World
Key Players
Some of the prominent players in the global structural insulated panels market are Alubel SpA (Italy), ArcelorMittal (Luxembourg), BALEX-METAL (Poland), Isopan (Manni Group SpA), Italpannelli SRL (Italy), Kingspan Group (Ireland), Marcegaglia SpA (Italy), Metecno (Italy), and NCI Building Systems (US).
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