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Global Structural insulated panels market Analysis by Product, Facing Material, Insulation Material, Application, End use and Region and segments forecast till 2033
Market Overview
The global Structural insulated panels market was worth USD 11,180 million in 2022 and is anticipated to amplify at a CAGR of 5.5% over 2023-2033, thereby accumulating USD 19,080 million by end of the analysis timeline.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 11,180 Million |
Market Forecast in 2033 | USD 19,080 Million |
CAGR % 2023-2033 | 5.5% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Product, Facing Material, Insulation Material, Application, End use |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | 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., and Others. |
A structural insulated panel or insulating panel is a form of sandwich section mostly used in construction industry. Sandwich panel is any structure made of three layers that is a low density core which consists of PIR (polyisocyanurate), mineral wool, XPS (Extruded polystyrene insulation) and a dainty skin-layer attached to both the sides. Sandwich boards are used in applications where a mix of high structural rigidity and low weight is required. SIP (sandwich insulating panel) is a double-decker composite consisting of a shielding layer of rigid core sandwiched between two layers of structural board used as construction material. The board can consist of metal sheet, or plywood, cement, or magnesium oxide board or oriented strand board many more.
SIP shares the same structural properties as an I-beam or I-column. The rigid insulation core of the SIP mimics like a web, while the sheathing accomplishes the function of flanges. SIPs consolidate a few parts of ordinary structure, like studs and joists, insulation, vapour barrier and air barrier. They can be utilized for a wide range of uses, like outside wall, rooftop, floor and establishment frameworks.
Commending green building or eco-friendly construction standards and regulations for adoption of building insulation material for reducing the whole energy consumption coupled with rising investments in development of cold chain infrastructure across the world are the key factors driving the market. Structural insulated panels are anticipated to gain widespread acceptance globally owing to their quality of lightweight, better external appearance and help in thermal performance of buildings. As per a report, in US there is a tax credit of USD 2,000 provided for builders for implementing new energy efficient techniques while constructing homes according to the Federal Manufactured Homes Construction and Safety Standards.
Growing reconstruction of old building structures using new technology is expected to drive the market. The SIPs are also used in construction of warehouses to reduce overall time spent on construction. In addition to this, the growth in e-commerce is generating huge demand for construction of ware-houses and last-mile delivery hubs. This factor is driving the market. For instance, the creation of local data centres by major technology companies such as Amazon, Alibaba, Google, and Microsoft is predicted to have positive impact on the development of market.
The SIPs are fabricated at the manufacturing site are transported to the site location in ready-to-install state. Metal sheets are emerging as preferred material for the outer covering due to their quality of durability, fireproof property, and superior surface finish. Moreover, the insulated panels are available in variety of colours making it presentable and suitable for building exterior.
However, the raw material such as Polyisocyanurate (PIR), Polyurethane (PU), Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), and others used to produce SIPs are the succeeding derivative of crude oil and hence is causing restraint to the market growth owing to its volatile price growth.
Owing to the qualities such as cost-effectiveness, sustainability, and durability of the structural insulated panels, they are widely being used in various end use manufacturing companies for production of cold storages. Cold storages are the most important equipment in industries such as food and beverage, ware housing storage systems etc.
Due to growing population and urbanisation there is rise in need for homes, but with less land space to construction, old buildings are now being reconstructed. Thus the reconstruction is done with new technology of green buildings which is now in massive demand, owing to the fact of global warming. A current survey shows that over 19 countries are expected to use the green building activity. And almost 60% of their projects are supposed to be with green building technology.
Impact of COVID
The recent pandemic that hit the world, completely changed management of health care sector. The pandemic has not been a good state for anyone physically, mentally, and emotionally. Although, with the challenges faced by various sectors during the pandemic, there was a significant product demand for the establishment of cold chain infrastructure to ensure the safety of the Covid-19 vaccines and seamless final stage delivery.
Product Insights
Polystyrene accounted for higher market revenue of more than 72% in 2022 and is expected to retain the same.
Facing Material Insights
Oriented Strand Board outstood the segment as it is cost-effective alternative for home construction.
Application Insights
The Walls & Floors segment held a major share of 46% in terms of revenue.
Regional Insights
Based on the geographical view, the market occupies regions as North America, Europe, Asia Pacific, Middle East and Africa, Latin America. North American region ruled the market as US witnessed an increase in private construction. As per US Census Bureau, the whole construction productivity was estimated at USD 1625.88 billion in November 2021.
Competitive Analysis
Some of the prominent companies to invest in structural insulated panels market are 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., and Others.
Recent News
In March 2021, Kingspan Group, a leading manufacturer of insulation and building envelope solutions, acquired Logstor International Holding, a Denmark-based manufacturer of pre-insulated pipes, including structural insulated panels.
In February 2021, BASF SE launched a new range of Neopor GPS (Graphite Polystyrene) insulation products for use in the construction industry, including structural insulated panels.
In January 2021, Insulspan, a Canadian manufacturer of structural insulated panels, announced the launch of its new "Solar Skin" product, which integrates a solar panel system into the SIPs, allowing for greater energy efficiency and sustainability in building construction.
In November 2020, the Structural Insulated Panel Association (SIPA) launched a new online directory to help connect architects, builders, and consumers with suppliers and manufacturers of structural insulated panels.
Segments Covered
Product
Polystyrene
Polyurethane
Glass Wool
Facing Material
Oriented Strand Board
Magnesium Oxide Board
Insulation material
EPS
XPS
Application
Walls & Floors
Roof
Cold Storage
End Use
Residential
Non-Residential
Why to buy this Report?
The report provides quantitative and qualitative aspect for Structural insulated panels market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Structural insulated panels market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Production Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
Company Share Analysis from 2020-2022
Company Analysis by Revenue and Sales
Company Production Capacity, Gross Margin
Company Share Analysis by Application/End Use
Company Share Analysis by Product/Specification
1. Global Structural Insulated Panels Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. Structural Insulated Panels Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years 2020 to 2021
1.3.2. Projected Data Reporting Years 2022 to 2033
1.3.3. Reporting Data Parameters Value (US$ Million) & Volume (Million Square Feet)
1.4. Global Structural Insulated Panels Market Scope and Market Estimation
1.4.1. Global Structural Insulated Panels Overall Market Size (US$ Million) & (Million Square Feet), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global Structural Insulated Panels Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. Structural Insulated Panels Market Segmentation
1.5.1. Product of Global Structural Insulated Panels Market
1.5.2. Facing Material of Global Structural Insulated Panels Market
1.5.3. Insulation Material of Global Structural Insulated Panels Market
1.5.4. Application of Global Structural Insulated Panels Market
1.5.5. End Use of Global Structural Insulated Panels Market
1.5.6. Key Regions of Global Structural Insulated Panels Market
2. Global Structural Insulated Panels Market - Executive Summary
2.1. Global Structural Insulated Panels Market Summary & Snapshot
2.2. Global Structural Insulated Panels Market, By Product (US$ Million) & (Million Square Feet)
2.3. Global Structural Insulated Panels Market, By Facing Material (US$ Million) & (Million Square Feet)
2.4. Global Structural Insulated Panels Market, By Insulation Material (US$ Million) & (Million Square Feet)
2.5. Global Structural Insulated Panels Market, By Application (US$ Million) & (Million Square Feet)
2.6. Global Structural Insulated Panels Market, By End Use (US$ Million) & (Million Square Feet)
2.7. Global Structural Insulated Panels Market, By Geography (US$ Million) & (Million Square Feet)
2.8. Global Structural Insulated Panels Market Outlook & Future Opportunities
3. Structural Insulated Panels Market Trends, Outlook, and Factors Analysis
3.1. Global Structural Insulated Panels Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Structural Insulated Panels Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Demand for structural insulated panels for cold storage applications has increased.
3.2.1.2. sustainable, and durable building system
3.2.1. Restraints
3.2.1.1. Price volatility
3.2.2. Opportunities
3.2.2.1. Supportive building regulations
3.2.3. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porters Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Structural Insulated Panels Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Structural Insulated Panels Market
3.9.1. By Product
3.9.2. By Facing Material
3.9.3. By Insulation Material
3.9.4. By Application
3.9.5. By End Use
3.9.6. By Regions
4. Global Structural Insulated Panels Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global Structural Insulated Panels Market, 2020 2021 (US$ Million) & (Million Square Feet)
4.2. Global Structural Insulated Panels Market, By Product , 2020 to 2021 (US$ Million) & (Million Square Feet)
4.3. Global Structural Insulated Panels Market, By Facing Material , 2020 to 2021 (US$ Million) & (Million Square Feet)
4.4. Global Structural Insulated Panels Market, By Insulation Material , 2020 to 2021 (US$ Million) & (Million Square Feet)
4.5. Global Structural Insulated Panels Market, By Application , 2020 to 2021 (US$ Million) & (Million Square Feet)
4.6. Global Structural Insulated Panels Market, By End Use , 2020 to 2021 (US$ Million) & (Million Square Feet)
4.7. Global Structural Insulated Panels Market, By Region, 2020 to 2021 (US$ Million) & (Million Square Feet)
5. Global Structural Insulated Panels Market Estimates & Forecast Trend Analysis, by Product
5.1. Global Structural Insulated Panels Market Share (%) Estimates and Forecasts, by Product , 2022 & 2033
5.2. Global Structural Insulated Panels Market Size (US$ Million) & (Million Square Feet) Estimates and Forecasts, by Product , 2022 to 2033
5.2.1. Polystyrene
5.2.2. Polyurethane
5.2.3. Glass Wool
5.2.4. Others
6. Global Structural Insulated Panels Market Estimates & Forecast Trend Analysis, by Facing Material
6.1. Global Structural Insulated Panels Market Share (%) Estimates and Forecasts, by Facing Material , 2022 & 2033
6.2. Global Structural Insulated Panels Market (US$ Million) & (Million Square Feet) Estimates and Forecasts, by Facing Material , 2022 to 2033
6.2.1. Oriented Strand Board
6.2.2. Magnesium Oxide Board
6.2.3. Others
7. Global Structural Insulated Panels Market Estimates & Forecast Trend Analysis, by Insulation Material
7.1. Global Structural Insulated Panels Market Share (%) Estimates and Forecasts, by Insulation Material , 2022 & 2033
7.2. Global Structural Insulated Panels Market (US$ Million) & (Million Square Feet) Estimates and Forecasts, by Insulation material , 2022 to 2033
7.2.1. EPS
7.2.2. XPS
7.2.3. Others
8. Global Structural Insulated Panels Market Estimates & Forecast Trend Analysis, by Application
8.1. Global Structural Insulated Panels Market Share (%) Estimates and Forecasts, by Application , 2022 & 2033
8.2. Global Structural Insulated Panels Market (US$ Million) & (Million Square Feet) Estimates and Forecasts, by Application, 2022 to 2033
8.2.1. Walls & Floors
8.2.2. Roof
8.2.3. Cold Storage
9. Global Structural Insulated Panels Market Estimates & Forecast Trend Analysis, by End Use
9.1. Global Structural Insulated Panels Market Share (%) Estimates and Forecasts, by End Use , 2022 & 2033
9.2. Global Structural Insulated Panels Market (US$ Million) & (Million Square Feet) Estimates and Forecasts, by End Use, 2022 to 2033
9.2.1. Residential
9.2.2. Non-Residential
10. Global Structural Insulated Panels Market Analysis and Forecast, by Region
10.1. Global Structural Insulated Panels Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
10.2. Global Structural Insulated Panels Market (US$ Million) & (Million Square Feet) Estimates and Forecasts, by Region, 2022 to 2033
10.2.1. North America
10.2.2. Europe
10.2.3. Asia Pacific
10.2.4. Middle East and Africa
10.2.5. Latin America
11. North America Structural Insulated Panels Market: Estimates & Forecast Trend Analysis
11.1. North America Structural Insulated Panels Market Assessments & Key Findings
11.2. North America Structural Insulated Panels Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. North America Structural Insulated Panels Market Size Estimates and Forecast (US$ Million) & (Million Square Feet) (2022 to 2033)
11.3.1. By Product
11.3.2. By Facing Material
11.3.3. By Insulation Material
11.3.4. By Application
11.3.5. By End Use
11.3.6. By Major Country
11.3.6.1. The U.S.
11.3.6.2. Canada
12. Europe Structural Insulated Panels Market: Estimates & Forecast Trend Analysis
12.1. Europe Structural Insulated Panels Market Assessments & Key Findings
12.2. Europe Structural Insulated Panels Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Europe Structural Insulated Panels Market Size Estimates and Forecast (US$ Million) & (Million Square Feet) (2022 to 2033)
12.3.1. By Product
12.3.2. By Facing Material
12.3.3. By Insulation Material
12.3.4. By Application
12.3.5. By End Use
12.3.6. By Major Country
12.3.6.1. Germany
12.3.6.2. The U.K.
12.3.6.3. France
12.3.6.4. Italy
12.3.6.5. Spain
12.3.6.6. Rest of Europe (includes all other European countries)
13. Asia Pacific Structural Insulated Panels Market: Estimates & Forecast Trend Analysis
13.1. Asia Pacific Structural Insulated Panels Market Assessments & Key Findings
13.2. Asia Pacific Structural Insulated Panels Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Asia Pacific Structural Insulated Panels Market Size Estimates and Forecast (US$ Million) & (Million Square Feet) (2022 to 2033)
13.3.1. By Product
13.3.2. By Facing Material
13.3.3. By Insulation Material
13.3.4. By Application
13.3.5. By End Use
13.3.6. By Major Country
13.3.6.1. China
13.3.6.2. Japan
13.3.6.3. India
13.3.6.4. ASEAN
13.3.6.5. South Korea
13.3.6.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
14. Middle East & Africa Structural Insulated Panels Market: Estimates & Forecast Trend Analysis
14.1. Middle East & Africa Structural Insulated Panels Market Assessments & Key Findings
14.2. Middle East & Africa Structural Insulated Panels Market Share (%) Estimates and Forecasts, 2022 & 2033
14.3. Middle East & Africa Structural Insulated Panels Market Size Estimates and Forecast (US$ Million) & (Million Square Feet) (2022 to 2033)
14.3.1. By Product
14.3.2. By Facing Material
14.3.3. By Insulation Material
14.3.4. By Application
14.3.5. By End Use
14.3.6. By Major Country
14.3.6.1. GCC
14.3.6.2. South Africa
14.3.6.3. Egypt
14.3.6.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
15. Latin America Structural Insulated Panels Market: Estimates & Forecast Trend Analysis
15.1. Latin America Market Assessments & Key Findings
15.2. Latin America Structural Insulated Panels Market Share (%) Estimates and Forecasts, 2022 & 2033
15.3. Latin America Structural Insulated Panels Market Size Estimates and Forecast (US$ Million) & (Million Square Feet) (2022 to 2033)
15.3.1. By Product
15.3.2. By Facing Material
15.3.3. By Insulation Material
15.3.4. By Application
15.3.5. By End Use
15.3.6. By Major Country
15.3.6.1. Brazil
15.3.6.2. Mexico
15.3.6.3. Rest of Latin America (includes all other Latin America countries)
16. Competitive Landscape
16.1. Market Revenue Share Analysis (%), by Major Players (2021)
16.2. Market Competition Matrix, by Leading Players
16.3. List of Emerging, Prominent and Leading Players
16.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
17. Company Profiles
17.1. Owens Corning
17.1.1. Company Overview & Insights
17.1.2. Financial Performance
17.1.3. Product / Service Portfolio
17.1.4. Geographical Footprint & Share
17.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
17.2. Kingspan Group
17.3. PFB Corporation
17.4. Alubel SpA
17.5. Enercept, Inc.
17.6. Foard Panel Inc.
17.7. Extreme Panel Technologies, Inc.
17.8. T. Clear Corporation
17.9. Premier SIPs
17.10. ACME Panel Company
17.11. Metl-Span
17.12. KPS Global
17.13. Isopan
17.14. American Insulated Panel
17.15. Structural Panels Inc.
17.16. All Weather Insulated Panels
17.17. Ingreen Systems Corp.
17.18. Others
18. Assumptions and Research Methodology
18.1. Data Mining
18.2. Secondary Research
18.3. Primary Research
18.4. Subject Matter Expert Advice
18.5. Quality Check
18.6. Final Review
18.7. Data Triangulation
18.8. Bottom-Up Approach
18.9. Top Down Approach
18.10. Research Flow
18.11. Key Insights from Industry Experts
18.12. Data Sources
18.13. Assumptions
18.14. Limitations
19. Conclusions and Recommendations
19.1. Key Research Findings and Conclusion
19.2. Key Insights & Recommendations from Analysts