Structural Insulated Panels Market Research Report: Information by Product (Expanded Polystyrene, Polyurethane Insulated, Glass Wool), by Application (Residential, Commercial), and by Region (North America, Europe, APAC, RoW) - Forecast till 2030

Structural Insulated Panels Market Overview

The structural insulated panels market size was valued at $458.1 Million in 2019 and is projected to reach $885.4 Million by 2030, registering a CAGR of 6.10% from 2022 to 2030.

The growing emphasis on energy efficiency and economic feasibility in the construction industry has resulted in an increase in demand for Structural Insulated Panels and has increased the Structural Insulated Panels Market Value. The global Structural Insulated Panels Market is expected to expand dramatically as a result of factors such as rising demand for structural insulated panels from the developing construction industry and rising construction of commercial and economic buildings in emerging economies. Furthermore, the construction industry's awareness of energy efficiency is growing, which is expected to create more opportunities for the global Structural Insulated Panels Industry. However, market growth is being hampered by fluctuating raw material prices used in the production of structural insulated panels.

COVID 19 Analysis

The COVID 19 outbreak has hampered the growth of the structural insulated panel industry due to country-wide lockdowns and delays in manufacturing and production of structural insulated panel materials used in residential and non-residential spaces impacting the Structural Insulated Panels Market Growth. The novel coronavirus has rapidly spread across various countries and regions, having a massive impact on people's lives and the overall community. It began as a global health crisis and has since become a significant threat to global trade, economy, and finance. The COVID-19 pandemic has halted the production of many items in the Structural Insulated Panels Industry due to the ongoing lockdown in key countries. Market participants can only afford a complete lockdown for a limited time before having to change their investment plans. Furthermore, the number of COVID-19 cases is expected to decrease in the near future, as a COVID-19 vaccine has been introduced to the market. This is also expected to result in the restarting of structural insulated panel companies at full capacity, assisting the Structural Insulated Panels Market Size to expand.

Competitive Landscape

The global structural insulated panels market is highly competitive, with numerous players from all over the world. These major players have used a variety of strategies to increase their visibility and strengthen their position in the global structural insulated panels market. Expansions, investments, acquisitions, and contracts are some of their key strategies. The majority of market leaders are forward integrated, which means they manufacture structural insulated panels while also providing installation and maintenance services. The key markets players have been recognized under the head of the global market competition owing to the recent developments that have been undertaken by them are as follows:

• Alubel SpA (Italy)


• PFB Corporation (Canada)


• Owens Corning (US)


• ArcelorMittal (Luxembourg)


• BALEX-METAL (Poland)


• Isopan (Manni Group SpA)


• Italpannelli SRL (Italy)


• Kingspan Group (Ireland)


• Marcegaglia SpA (Italy)


• Metecno (Italy)


• NCI Building Systems (US)

Market Dynamics

Drivers

The Structural Insulated Panels are a part of the rapidly expanding construction techniques that have advantageous properties and provide outstanding features to construction enclosures. The use of structural panels provides light-weighted supporting structures as well as cost-efficiency. Furthermore, structural insulated panels are suitable for large projects and offer advantages in terms of assembly time, which has influenced their use in the construction industry. Aside from that, rising infrastructure demand for residential and commercial buildings has resulted in the use of insulation components in buildings. Adding insulation panels to construction technology proves to be the smarter solution for saving money and making structure assembly and disassembly easier.

Restraints

The market growth is being hampered by fluctuating raw material prices used in the production of structural insulated panels. Building technology advancements, such as modular construction techniques, are expected to repress market growth. Environmental dangers and rigorous government regulations, as well as a growing focus on renewable energy, may restraint the Structural Insulated Panels Market Size. The Structural Insulated Panels Market Share is projected to be restrained by strict government rules. High manufacturing costs, combined with variable raw material prices, are a major stumbling block to the global Structural Insulated Panels Market Growth.

Technology Analysis

The construction industry's rapid growth is gaining traction as a result of the high demand for infrastructure and buildings in developing countries such as India and China. According to the Global Construction Perspective and Oxford Economics, the United States, India, and China will account for approximately 57% of the total growth in the construction and engineering market by 2030. The global structural insulated panels market is directly dependent on the growth and innovation in the construction industry, as it will drive demand for structural insulated panels in various application areas, offering performance and economic benefits.

Furthermore, the construction industry's awareness of energy efficiency is growing, which is expected to create more opportunities for the global structural insulated panels market and thus, increasing the Structural Insulated Panels Market Value over the forecast period.

Segment Overview

The global Structural Insulated Panels Market is further bifurcated into various segments depending on various factors in order to help the market grow as per the predicted CAGR growth by the end of the future forecast period in 2030. The market has been segmented based on the following:

Based on the product type, the market has been segmented as follows:

• Expanded Polystyrene (EPS) Panels


• Rigid Polyurethane Insulated (PUR) Panels


• Rigid Polyisocyanurate Insulated (PIR) Panels 


• Glass Wool Panels


• Other Panels (Extruded Polystyrene Foam)

Based on the end user, the market has been segmented as follows:

• Residential


• Commercial

Based on the application, the market has been segmented as follows:

• Building walls


• Building roofs


• Building Floors


• Cold Storage

Based on the region, the market has been segmented as follows:

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • UK
  
  
  • France
  
  
  
  


• Asia – Pacific
  
  
  
  • China
  
  
  • Australia
  
  
  • Japan
  
  
  • India
  
  
  • LAMEA
  
  
  
  


• Latin America
  
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Intended Audience

• Raw Material Suppliers


• End Users


• Traders and Distributors


• Regulatory Bodies

Regional Analysis

The global structural insulated panels market has been divided into four regions: North America, Europe, Asia-Pacific, and LAMEA. Europe had the largest market share during the historic forecast period in 2030 and is expected to maintain that position by 2030. The presence of major market players in this region, as well as the thriving construction market, is expected to drive demand for Structural Insulated Panels throughout the forecast period. Furthermore, the leading manufacturers of Structural Insulated Panels are based in this region.

However, Asia-Pacific is expected to have the highest CAGR of around 5.4 percent owing to rapid construction activities that adhere to energy efficiency standards and regulations. This can also be attributed to the increased demolition of old and obsolete infrastructure, which necessitates large investments in the renovation. During the forecast period, the global structural insulated panels market is expected to be driven by the large-scale expansion of urban developments.

Recent Developments

• Acquisitions accounted for the majority of strategic developments in the structural insulated panels market during the forecast period. Owens Corning (US) and PFB Corporation (Canada) implemented the strategies to strengthen their market presence and manufacturing and distribution capabilities in the structural insulated panels market.


• Kingspan Group is a global leader in the development of high-performance insulation and building envelope solutions. Insulated panels, insulation boards, light & air, water & energy, and data & flooring are the company's five business segments. Its insulated panels business segment provides a variety of structural insulated panels. The company's primary focus is on its manufacturing capabilities, with the goal of strengthening and innovating its manufacturing processes and techniques in order to attract new customers for its insulation panel products.


• PFB Corporation creates insulating building products and technologies that, when used as building design and construction components, allow residential and commercial structures to be highly energy-intensive. Their insulating products enable net Near Zero Energy (NZE), Leadership in Energy and Environmental Design (LEED), and Built Green building envelope technologies.

Report Overview

This report provides an overview of the global structural insulated panels market, focusing on two market segments in four geographic regions. The report investigates key players and offers a ten-year annual trend analysis of market size, volume, and share for North America, Europe, Asia-Pacific, and LAMEA. The report also includes a forecast, which focuses on the market opportunities for each region over the next five years. The study's scope divides the global structural insulated panels market into products, applications, and regions.