What Has Been the Growth Trajectory for the Structural Insulated Panels Market in Recent Years?
The structural insulated panels market has seen considerable growth due to a variety of factors.
• In recent times, the market size of structural insulated panels has seen a consistent growth. The market that was valued at $0.45 billion in 2024 is projected to reach $0.47 billion in 2025, growing at a compound annual growth rate (CAGR) of 5.0%.
Factors contributing to this significant growth during the historic period include an increase in construction activities, heightened demand from cold storage facilities, the expansion of the e-commerce sector, and the surge in construction of green buildings.
What is the Forecasted Market Size and CAGR for the Structural Insulated Panels Market?
The structural insulated panels market is expected to maintain its strong growth trajectory in upcoming years.
• The market for structural insulated panels is anticipated to witness substantial expansion in the upcoming years, with its value estimated to reach $0.57 billion in 2029, growing at a compound annual growth rate (CAGR) of 5.2%.
The projected growth in this period is attributed to various factors such as increased urbanization, expansion in the residential sector, and heightened investment in infrastructure. Notable market trends anticipated during this forecast period involve advancements in technology, a rising trend of utilizing structural insulated panels in modular building, a greater emphasis on eco-friendly constructions and sustainability, surged financial ventures, the launching of innovative products, as well as an increase in mergers and acquisitions.
What Key Factors and Trends are Driving the Growth of the Structural Insulated Panels Market?
The structural insulated panels market is predicted to grow due to the heightened focus on green buildings. The insulation capabilities and superior thermal resistance of the structural insulated panel system allow building envelopes to control heating, cooling, and humidity with less energy required for heating or cooling. The Canada Green Building Council, a Canada-oriented organization committed to endorsing sustainable building methods, stated in February 2023 that Canada was third globally on the yearly list of Top 10 Countries and Regions for LEED certification in 2022. Furthermore, Canada certified 248 projects, with over 5.3 million gross square meters (GSM) of LEED space, showcasing its solid dedication to sustainable building in comparison to many other nations. Hence, the escalating importance of green buildings is fueling the expansion of the structural insulated panels market.
What Are The Principal Market Segments In The Global Structural Insulated Panels Healthcare Industry?
The structural insulated panels market covered in this report is segmented –
1) By Insulation Materials: Expanded Polystyrene (EPS) Panel, Rigid Polyurethane (PUR), Rigid Polyisocyanurate (PIR) Panel, Glass Wool, Stone Wool, Extruded Polystyrene Foam Panel, Other Insulation Materials
2) By Facing Material: Oriented Strand Board (OSB) Structural Insulated Panels, Magnesium Oxide (MGO) Board Structural Insulated Panels, Other Facing Materials
3) By Application: Walls And Floors, Roofs, Cold Storage
4) By End User: Residential, Non-Residential
Subsegments:
1) By Expanded Polystyrene (EPS) Panel: Standard EPS Panels, Enhanced EPS Panels
2) By Rigid Polyurethane (PUR): Standard Rigid PUR Panels, High-density PUR Panels
3) By Rigid Polyisocyanurate (PIR) Panel: Standard PIR Panels, High-performance PIR Panels
4) By Glass Wool: Standard Glass Wool Panels, High-density Glass Wool Panels
5) By Stone Wool: Standard Stone Wool Panels, Fire-resistant Stone Wool Panels
6) By Extruded Polystyrene Foam Panel: Standard XPS Panels, High-performance XPS Panels
7) By Other Insulation Materials: Cellulose Insulation Panels, Spray Foam Insulation Panels, Bio-based Insulation Materials
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Which Emerging Market Trends Are Altering The Structural Insulated Panels Market?
Leading entities in the Structural Insulated Panels (SIPs) market are focusing on technological advancements such as Building Information Modeling (BIM) software to improve energy conservation and lessen construction time, thereby fostering green construction practices. BIM software operates as a digital instrument in the architecture, engineering, and construction (AEC) sectors, automating the design, planning, and paperwork processes related to buildings and infrastructure. As an example, in January 2022, ARKANCE LITHUANIA, a software enterprise based in Lithuania, introduced the first BIM software dedicated to automating the design and documentation of comprehensive building shells using insulated sandwich panels in Autodesk Revit. This application is predicted to boost efficiency among architecture and engineering professionals by automating mundane tasks and ensuring adherence to building regulations.
Who Are the Key Players in the Structural Insulated Panels Market?
Major companies operating in the structural insulated panels market include:
• Owens Corning
• Kingspan Group Plc
• SSAB AB
• KPS Global
• Premier SIPs
• Enercept Inc
• Extreme Panel Technologies Inc.
• Isopan
• Structural Panels Inc
• All Weather Insulated Panels
• Shandong Hark Steel Material Co Ltd
• Shandong Wiskind Architectural Steel Co Ltd
• Shandong Wiskind Steel Structure Co Ltd
• Xiamen Yumi New Material Technology Co Ltd
• Yantai Jedha Industrial and Trading Co Ltd
• Golden Power (Fujian) Building Material Science Technology Co Ltd
• Shree Shani Green Energy
• Versiclad
• EnviroSip
• Solaris
• Glosford SIPS
• Self-Build
• Metawell
• Sipcon.House
• SIPs
• Sipeurope
• ECSUS Design
• Karmod
• Tekhnostyl Group
• Hotwell
• EcoEuroDom
• OrgTechStroy
• SipMontage
• Worsted
• FischerSIPS
• VIRMAK LLC
• TechnoNIKOL
• ACME Panel Company
• Energy Panel Structures Inc
• Foard Panel Inc
• General Panel Corporation
• Thermapan Structural Insulated Panels
• Knight Wall Systems
• Tafco
• Sinopan
• Isoeste
• Xipre
• Styropek
• Arauco
• Emirates Industrial Panel
• TSSC Group
• Sika AG
• Qatar Steel Industries Factory
• Dana Steel
• Isotherm Insulation FZC
• Zamil Steel
• Al Shahin Metal Industries
• Drycraeft
• Ecostruct Panel Systems
• New World Steel Construction
• Panel Co South Africa
• Isowall Group
• Rockwool
What are the Regional Insights into the Structural Insulated Panels Market?
North America was the largest region in the structural insulated panels market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the structural insulated panels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
