Structural Insulation Panels (SIP) Market Size - By Product (Glass Wool, Stone Wool, EPS, XPS, Phenolics, PU/PIR, Flexible Insulation), By Skin Type (OSB Two Sides, OSB One Side), By Application (Walls, Roofs, Floors), End-Use & Forecast, 2023 – 2032

Structural Insulation Panels Industry Analysis

Structural Insulation Panels (SIP) Market size is slated to record more than 6.5% CAGR from 2023 to 2032.The surging adoption of stringent building codes as well as standards emphasizing energy efficiency and sustainability across multiple countries and regions will contribute to the industry growth. The emergence of zero-energy home (ZEH) concept has steered the popularity of foam plastic insulation building assemblies, including SIPs for forming airtight building envelopes to cuts energy employed in heating and cooling. The introduction of several new energy-efficient technologies will proliferate the product demand.

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Structural Insulation Panels Market Growth Drivers & Restraints

The rising number of investments for the development of cold chain infrastructure worldwide will positively impact the market expansion. To quote an instance, in September 2022, UBS joined PGGM and other investors in making an initial $700 million investment in large new cold storage warehouses to assist the perishable agriculture and real estate industries. On the contrary, the higher costs of structural insulation panels along with dearth of raw materials may pose as restraints for the product uptake.
 

COVID-19 Impact

The COVID-19 pandemic placed multiple challenges for the supply and production of SIPs due to the delayed construction projects propelled by labor shortages, lockdowns, and the uncertainty about the economic situation. However, the importance of energy-efficient as well as sustainable building practices highlighted the product adoption in the pandemic. Numerous stimulus packages introduced by various governments for supporting different sectors, including construction also complimented the market expansion.
 

Structural Insulation Panels Market Trends

The rising popularity of thermal insulation materials to limit CO2 emissions from buildings and construction will also play an ideal role in the market expansion. Moreover, the growing focus of manufacturers on bringing innovative SIP designs with fire resistance, improved structural capabilities, and sound insulation properties in residential, commercial, institutional, and industrial structures will add to the industry growth.
 

Structural Insulation Panels Product Segmentation

Structural insulation panels market size from the expanded polystyrene (EPS) segment is set to reach considerable revenue share by 2032, led by stringent government policies in order to monitor the CO2 releases. The rising number of renovation projects is accelerating the adoption of EPS panels for improving energy efficiency of the existing buildings with enhanced insulation to roofs, walls, and floors. The growing research for developing energy-efficient construction materials will influence the segment expansion.
 

Structural Insulation Panels Application Segmentation

The wall segment is expected to account for considerable revenue share of the structural insulation panels market by 2032, driven by benefits, such as customization to specific designs, reduced construction time, efficient installation and quick on-site assembly. On account of their excellent thermal insulation, SIPs minimize the heat transfer through walls leading to limited energy consumption for heating and cooling, making way for lower utility bills and smaller carbon footprint. The robust presence of green building certifications, such as LEED will also outline the market growth.
 

Structural Insulation Panels End Use Segmentation

Structural insulation panels market from the commercial segment may observe gains at nearly 6.5% up to 2032, due to rapid construction, energy efficiency, and design versatility. The significant growth of retail spaces, including stores and shopping malls has led to the incessant need for quick installation with energy efficiency for cost savings. As per CN Construction News, the retail main contract awards in the U.K. totaled £336m in Q1 of 2023, showing an increase of 8% from the preceding quarter. Robust trade expansion along with the burgeoning construction of healthcare facilities, including hospitals and clinics will anchor the industry outlook.
 

Structural Insulation Panels Regional Analysis

Asia Pacific structural insulation panels market is anticipated to witness over 8% CAGR from 2023 to 2032. The rising population growth, urbanization, and infrastructure development has spurred the higher adoption of innovative construction materials. As per Urbanet, the urban population in India is growing by 2.3% each year. The growing rate of infrastructure expenses for the construction of offices, supermarkets, hotels, and houses along with the influx of stringent government-imposed energy efficiency regulations and standards will boost the regional market growth.
 

Structural Insulation Panels Industry Leaders

Some of the major participants in the structural insulation panels market include Kingspan Group, Owens Corning, Enercept Inc., Eagle Panel Systems, Inc., ACME PANEL, Cornerstone Building Brands, Foam Laminates, Lattonedil Spa Milano, Foard Panel Inc., Premier Building Systems, The Murus Company, T Clear Corporation, Future Building of America, Insulspan Inc., METECNO, Nohara Holdings, Inc., Isopan, Romakowski GmbH & Co. KG, PFB Corporation, and ICS Eco-SIPs.
 

Structural Insulation Panels Industry News

• In August 2021, Nucor Corporation acquired the insulated metal panels (IMP) business of Cornerstone Building Brands to offer its customers with numerous products to cater to high-end architectural applications.
   

This market research report on structural insulation panels includes in-depth coverage of the industry with estimates & forecast in terms of volume in square foot and revenue in USD million from 2023 to 2032, for the following segments:

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Market, By Product

• Glass Wool
• Stone Wool
• EPS
• XPS
• Phenolics
• PU/PIR
• Flexible Insulation

Market, By Skin Type

• OSB Two Sides
• OSB One Side

Market, Application

• Walls
• Roofs
• Floors

Market, End-Use

• Residential
• Commercial
• Non-Building

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Poland
  • France
  • UK
  • Spain
  • Italy
  • Ukraine
  • Netherlands
  • Turkey
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Malaysia
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait
  • Egypt