Structural Insulated Panels Market Size (2024 - 2029)

The structural insulated panels market is anticipated to experience significant growth over the forecast period, driven by increasing demand from the construction sector and expanding applications in cold storage. Despite challenges posed by advancements in building technologies such as modular construction, the market's expansion is supported by the rising interest in green buildings. North America holds a substantial portion of the market share, attributed to a surge in construction projects within the region.

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Market Size of Structural Insulated Panels Industry

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Structural Insulated Panels Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Structural Insulated Panels Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Structural Insulated Panels Market Analysis

During the time frame of the forecast, the structural insulated panel market is expected to grow at a CAGR of more than 6%.

The construction industry is one of the industries that was badly impacted by the COVID-19 outbreak. Because of a lack of funds, labor shortages, and lockdown regulations, many projects were halted in 2020. But the construction industry is getting better quickly and will continue to grow over the next few years.

  • Over the next five to ten years, the market is likely to be driven by the growing demand from the construction industry and the growing number of uses in cold storage.
  • On the other hand, improvements in building technologies, like modular construction, are likely to slow the growth of the market.
  • But the demand for green buildings is growing, which could be a chance for the market to grow.
  • North America had the most of the market, mostly because there were more building projects in Canada and Mexico.

Structural Insulated Panels Industry Segmentation

Structural insulated panels are high-performance building systems used in construction applications. These panels are used for the construction of ceilings, walls, and floors for residential as well as light commercial properties. A structural insulated panel is a sandwich-structured composite that consists of an insulating layer of rigid core sandwiched between two layers of structural board, which makes them much more energy efficient than traditional building materials as it helps in regulating temperature more efficiently. The structural insulated panels market is segmented by product, application, and geography. By product, the market is segmented into expanded polystyrene panels, rigid polyurethane and rigid polyisocyanurate panels, glass wool panels, and other products. By skin material, the market is segmented into oriented strand board, plywood, and other skin materials. By application, the market is segmented into building walls, building roofs, and cold storage. The report also covers the market size and forecast for the market in 15 countries across major regions. For each segment, market sizing and forecasting have been done based on revenue (USD million).

Product
EPS (Expanded Polystyrene) Panel
Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel
Glass Wool Panel
Other Products (Extruded Polystyrene Foam)
Skin Material
Oriented Strand Board (OSB)
Plywood
Other Skin Materials (Cement Board)
Application
Building Wall
Building Roof
Cold Storage
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Structural Insulated Panels Market Size Summary

The structural insulated panels market is poised for significant growth over the forecast period, driven by increasing demand from the construction sector and expanding applications in cold storage. The market's recovery from the setbacks caused by the COVID-19 pandemic is bolstered by the resurgence of the construction industry, which is experiencing a rapid recovery. However, advancements in building technologies, such as modular construction, may pose challenges to market expansion. Conversely, the rising demand for green buildings presents a promising opportunity for market growth. North America currently holds a dominant position in the market, largely due to the surge in construction activities in Canada and Mexico.

The market landscape is characterized by a high degree of fragmentation, with no single player commanding a significant share. Key industry participants, including Kingspan Group, Rautaruukki Corporation, Premier Building Systems Inc., Owens Corning, and PFB Corporation, are actively engaged in forward integration, offering both production and installation services. Recent strategic moves, such as Owens Corning's acquisition of WearDeck and the introduction of innovative products like FOAMGLAS Perinsul SIP, highlight the industry's focus on enhancing product offerings and expanding market reach. These developments, coupled with robust construction activities in regions like North America and emerging economies, are expected to drive the demand for structural insulated panels in the coming years.

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Structural Insulated Panels Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from Construction Sector

      2. 1.1.2 Increasing Cold Storage Applications

    2. 1.2 Restraints

      1. 1.2.1 Advancements in Building Technologies, such as Modular Construction Techniques

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size by Value)

    1. 2.1 Product

      1. 2.1.1 EPS (Expanded Polystyrene) Panel

      2. 2.1.2 Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel

      3. 2.1.3 Glass Wool Panel

      4. 2.1.4 Other Products (Extruded Polystyrene Foam)

    2. 2.2 Skin Material

      1. 2.2.1 Oriented Strand Board (OSB)

      2. 2.2.2 Plywood

      3. 2.2.3 Other Skin Materials (Cement Board)

    3. 2.3 Application

      1. 2.3.1 Building Wall

      2. 2.3.2 Building Roof

      3. 2.3.3 Cold Storage

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

        4. 2.4.2.4 Rest of North America

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Structural Insulated Panels Market Size FAQs

The Structural Insulated Panels Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Owens Corning, Kingspan Group, Rautaruukki Corporation, Premier Building Systems (Premium SIPS) and PFB Corporation are the major companies operating in the Structural Insulated Panels Market.

Structural Insulated Panels Market Report Snapshots

Structural Insulated Panels Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)