Growing Acceptance Of Structural Insulated Panels Is Projected To Take Demand Growth At 5% CAGR Over The Next 10 Years

As per a new report published by Fact.MR, a market research and competitive intelligence provider, the global structural insulated panel market is anticipated to reach a valuation of US$ 647 Mn by 2031, expanding at a CAGR of around 5% over the next ten years.

Rapid climate change and increasing energy consumption in buildings are raising consumer consciousness towards the environment. Due to this, consumers are adopting affordable green and sustainable construction methods. Owing to the numerous characteristics and benefits of structural insulated panels are gaining rapid consumer attention.

Moreover, demand for structural insulated panels made with facing materials such as oriented strand boards (OSBs) and magnesium oxide (MgO) boards is touching new milestones in the industry. OSB structural insulated panels are projected to dominate as far as overall facing material is concerned, in terms of absolute dollar opportunity.

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East Asia held less than one-fifth market share in 2020, but is projected to surge at 8.5% CAGR and acquire more than one-fourth market share by 2031. Singapore and India are major stakeholders in South Asia, and these markets are expected to expand 10.4% and 11.2%, respectively.

Key Takeaways from Market Study

• The global structural insulated panels market is anticipated to add 1.6X value by 2031
• EPS structural insulated panels capture more than three-fourth global market share, and are set to create an absolute $ opportunity of US$ 488 Mn by 2031
• Among the end users, revenue from residential users has been growing at a faster pace
• North America is expected to dominate global market revenue in 2021
• The market in China and India is expected to rise at around 8.6% and 11.2% CAGR, respectively, through 2031
• Due to the COVID-19 crisis, demand for structural insulated panels has increased immensely, which will boost the overall market over the coming years

“High R&D on structural insulated panels is set to improve overall product quality, and rising consumer awareness regarding the environment will aid market growth over the coming years,” says a Fact.MR analyst.

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Winning Strategy

Key players have been spending on research & development to come up with newer products with improved lifespan and higher operational flexibility. These enhancements will drive the growth of the structural insulated panels market in the medium- to long-term forecast period.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global structural insulated panel market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The study divulges essential insights on the market on the basis of facing material (oriented strand board (OSB) structural insulated panels, magnesium oxide (MgO) board structural insulated panels, and other facing materials), insulation material (EPS structural insulated panels, glass wool structural insulated panels, polyurethane structural insulated panels and other insulation material-based structural insulated panels), application (floors and walls, roofs, and cold storage), and end use (residential and commercial), across six major regions of the world(North America, Latin America, Europe, South Asia, East Asia, Oceania, and MEA).

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Market Segments Covered in Structural Insulated Panels Industry Research

• By Facing Material

  • Oriented Strand Board (OSB) Structural Insulated Panels
  • Magnesium Oxide (MgO) Board Structural Insulated Panels
  • Other Facing Materials

• By Insulation Material

  • EPS Structural Insulated Panels
  • Glasswool Structural Insulated Panels
  • Polyurethane Structural Insulated Panels
  • Other Insulation Material Based Structural Insulated Panels

• By Application

  • Structural Insulated Panels for Floors and Walls
  • Structural Insulated Panels for Roofs
  • Structural Insulated Panels for Cold Storage

• By End Use

  • Structural Insulated Panels for Residential Use
  • Structural Insulated Panels for Commercial Use

Competitive Analysis

The structural insulated panels market is fragmented in nature, where companies are focusing on entering into long-term contracts with builders and large construction houses.

• In July 2021, Owens Corning acquired Vliepa GmbH, which specializes in printing, finishing and coating of papers, films, and nonwovens for building material industry. With this acquisition, Owens will be able to expand its global operations and better serve the European market.
• In April 2021, Kingspan Group announced a partnership with H2 Green Steel, under which, the focus will be to reduce Kingspan’s insulated panel products’ carbon emissions by 45%.
• In June 2021, Kingspan group partnered with Technological University Dublin (TU Dublin) to support the construction of the university’s innovative design and construct centre.
• In March 2021, Kingspan group entered into an agreement to acquire Logstor for nearly US$ 300 Mn, through which, the company will be able to make a strong presence in the European, North American, and Middle Eastern markets.
• In September 2019, All Weather Insulated Panels (AWIP) expanded its manufacturing unit in East Stroudsburg, Pennsylvania, a strategic geographic location that will cater to the needs of existing customers, and the company will be able to establish itself in the eastern region of the United States.

For More Insights- https://www.einpresswire.com/article/556592626/tier-3-players-accounting-for-nearly-80-revenue-share-in-creative-production-marketing-resource-management-space

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