The report "Structural Insulated Panels Market by Facing Material (OSB. MGO Board, and Others), Insulation Material (EPS, XPS, and Others), Application (Floor, Roof, and Wall), End Use (Residential, Non-Residential), and Region - Global Forecast to 2025" The global structural insulated panels market size is projected to grow from USD 405 million in 2020 to USD 517 million by 2025, at a CAGR of 5.0% from 2020 to 2025.
Browse 133 market data Tables and 47 Figures spread
through 169 Pages and in-depth TOC on "Structural Insulated Panels Market by Facing
Material (OSB. MgO Board, and Others), Insulation Material (EPS, XPS, and
Others), Application (Floor, Roof, and Wall), End Use (Residential,
Non-Residential), and Region - Global Forecast to 2025"
The global structural insulated panels market size
is projected to grow from USD 405 million in 2020 to USD 517 million by 2025,
at a CAGR of 5.0% from 2020 to 2025. The market is projected to grow in
accordance with the increase in the demand for residential and commercial
construction across the globe. Furthermore, the structural insulated panels
market has witnessed a significant increase in its demand, owing to the growth
in the construction of green and energy-efficient buildings worldwide.
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Kingspan Group Plc is a global player
in high-performance insulation and building envelope solutions. The company
operates through its five business segments, namely, insulated panels,
insulation boards, light & air, water & energy. and data &
flooring. It offers a range of structural insulated panels through its
insulated panels business segment. The company primarily focuses on its
manufacturing capabilities and aims to strengthen and innovate its production
processes & techniques, in order to attract new customers for its
insulation panel products.
PFB Corporation manufactures insulating building products and technologies that, when used as components of a building envelope, enable residential and commercial structures to be highly energy efficient. Their insulating products enable building envelope technologies that support net Near Zero Energy (NZE), Leadership in Energy and Environmental Design (LEED) certification and Built Green programs. Majority of the company’s current efforts are focused on expanding its presence in the US market. They are also looking to cut additional expenses in order to increase cost efficiency.
Residential
dominated the structural insulated panels market in 2019, in terms of value and
volume.
Residential, by end use, accounted for the largest
demand for structural insulated panels in 2019, in terms of value and volume.
This is primarily due to favorable and lenient lending policies initiated by
governments across all regions, which drive the sales of residential
construction projects. The spending on residential construction is estimated to
witness a surge, particularly in the emerging countries of APAC. There is a
trend of urbanization in the region, resulting in a high growth rate for the
residential construction sector. In addition, the demand for residential
buildings is witnessing a boost in the US, Saudi Arabia, and the UK. All these
factors are expected to drive the structural insulated panels market in the
residential building segment globally.
The North American region is projected to account for the
largest share in the structural insulated panels market during the forecast
period.
The North American region is projected to lead the
structural insulated panels market, in terms of both value and volume from 2020
to 2025. The growth of the structural insulated panels market in North America
is driven by technological advancements in the building & construction
industries. In the US, single-family homes are growing, especially in Florida,
Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho,
and South Carolina. The usage of insulation materials in residential
applications has been a key factor driving the structural insulated panels’
market growth.
Owens Corning (US), Kingspan Group (Ireland), PFB
Corporation (Canada), Alubel SpA (Italy), Enercept, Inc. (US), and Extreme
Panel Technologies, Inc. (US) are the key players operating in the structural
insulated panels market. Acquisitions, and new product developments are some of
the major strategies adopted by these key players to enhance their positions in
the structural insulated panels market.
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