Global Structural Insulated Panels Market: Industry Outlook, Growth Prospects and Key Opportunities

 The Infinium Global Research analyzes the Structural Insulated Panels Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global structural insulated panels market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of structural insulated panels. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the structural insulated panels market during the period. Structural insulated panel market to   grow with CAGR of 6.3% over the forecast period.

"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026." 

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Structural insulated panels (SIPs) are high-performance building systems. They are used for commercial and residential construction.  They are fabricated to fit nearly any building design. As a result building system is extremely strong, energy-efficient, and cost-effective. The building with Structural insulated panels will save time, money, and labor. Today's architects have faced the urgent task of achieving energy-efficient and high-performance building enclosures. The Structural Insulated Panels are a part of the enclosure assembly that can help to achieve these goals. SIPs further slowing down the transfer of heat, air, and vapor through the assembly.

Walls & Floors Dominates the Structural Insulated Panels (SIPS) Industry By Application

Structural insulated panels (SIPs) are engineered panels used to construct walls and floors. SIPs provide an extremely durable, strong, and energy-efficient building option as a replacement for construction methods using traditional framing insulation. They can span 18 feet with no additional support.  SIPs offer exceptional strength, fast installation, superior insulation qualities, and a host of benefits to the environment. The SIP using polystyrene foam, as insulating core material, was found to the superior to other wall systems regarding soundproofing as well as heating and cooling insulation. Integrating SIPs into walls, floors, and roofs introduce a degree of uniformity throughout the building’s interfaces, which means less air leakage and greater consistency throughout the entire construction.

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COVID 19 Resulted Unique Opportunity to Shift the Course of the Building Sector and Investments for Green Construction

The construction sector is essential for economic recovery after the COVID-19 crisis.  In 2015, the construction sector accounted for 11-13% of global GDP. Globally, USD 4.5 trillion was spent on the construction and renovation of buildings in 2018. Furthermore, the construction and operation of buildings are responsible for 40% of all energy-related carbon dioxide (CO2) emissions. According to the Environmental Protection Agency Americans spend approx 90 percent of their time indoors. The EPA states that some pollutants are often 2 to 5 times higher indoors than in typical outdoor concentrations. A group of scientists at Harvard’s T.H. Chan School of Public Health has found the connection between air pollution and COVID-19 severity. They found that long-term exposure to fine particulate or those living in highly polluted areas were significantly more at risk of dying from the deadly disease of COVID 19. Hence, indoor air quality (IAQ) is a critical component to making safer, and healthier buildings. The adoption of structural insulated panels in the design of buildings is important in improving IAQ and maintaining a healthy and energy-efficient building envelope. Hence, the crisis is projected to results in a growth opportunity for the structural insulated panel industry for sustainable and healthy living.

The Market Players are Growing Through Strategic Partnership and Investing on R&D Activities 

The key players operating in the structural insulated market are Dana Group., Isopan (Manni Group SpA), Italpannelli SRL, Jiangsu Jingxue Insulation Technology Co. Ltd, Kingspan Group, The Murus Company, Eagle Panel Systems, Inc., lubel SpA, ArcelorMittal, BALEX-METAL, Marcegaglia SpA, Metecno, Multicolor Steels Pvt Ltd, NCI Building Systems, Nucor Building Systems, PFB Corporation, Premier Building Systems, Rautaruukki Corporation, and Zamil Steel Pre-Engineered Buildings Co. Ltd. The global structural insulated panel market is consolidated with the presence of a large number of market players. The major market players adopting product innovation, mergers & acquisitions, production facilities enhancement, and portfolio expansion to gain significant market share. In 2018 Insulated panels maker Jindal Mectec and Ireland-based Kingspan announced the formation of a joint venture in India. The Joint Venture will capture the growth of modern methods of construction in India.

North America Holds the Significant Market Share in the Structural Insulated Panels Market

North America holds the largest market share in the Structural insulated panels (SIPs) market. It is one of the fastest-growing products in the U.S. housing construction industry due to its energy and construction efficiencies, and its distinctive structural performance characteristics. The Structural Insulated Panel Association (SIPA), APA, and the National Association of Home Builders Research Center (NAHBRC) jointly developed a prescriptive standard for the design and use of SIP walls in residential construction. This is in an effort to expand the SIPs market partially. Moreover, large spending on private construction over the years. This is driving the growth of the market in this region. Additionally, presence of numerous market players are contributing to the growth of the Structural Insulated Panels market in North America region.

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