Stratview Research delivers key insights into the global Structural Insulated Panel Market. According to Stratview Research, the market is segmented by Product Type (EPS (Expanded Polystyrene) Panel, Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel, Glass Wool Panel, and Others), by Application Type (Building Wall, Building Roof, and Cold Storage), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Insights
The report suggests that the overall Structural Insulated Panel market is likely to witness a healthy CAGR of 6.0% during the forecast period.
The prime factor contributing towards the growth of the structural insulated panel market is the rising demand from the construction sector and cold storage applications.
What is Structural Insulated Panel?
Structural insulated panel consists of an insulating layer of rigid core sandwiched between two layers of structural board, used as a building material. The board can be sheet metal, plywood, cement, magnesium oxide board, or oriented strand board, and the core can either be expanded polystyrene foam.
Market Segments’ Analysis
Based on the application type, the market is segmented as building wall, building roof, and cold storage. The building wall segment held the largest share of the market in 2019, and is also expected to grow at the fastest pace during the forecast period, driven by the increasing demand from residential sector.
In terms of regions, North America dominated the market in 2019, and is estimated to maintain its leading position during the forecast period as well. The region’s dominance is majorly due to the rising construction activities in Canada and Mexico. Over the years, The USA has witnessed a good increase in the growth of private construction spending. Also, the current trend of multi-family building has led the US Census Bureau to provide more permits for construction of new residential buildings.
Key Players
The following are some of the key players in the Structural Insulated Panel Market:
- Alubel SpA
- Dana Group Plc
- Hemsec Manufacturing Ltd
- Kingspan Group
- Owens Corning Insulating Systems LLC
- PFB Corporation
- Premier Building Systems
- Rautaruukki Corporation
- Sips-Panels UK
- SuperSIPs Ltd.
FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Structural Insulated Panel Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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