Structural Insulation Panels (SIP) Market Analysis

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 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.
 

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.