Structural Insulation Panels (SIP) Market Size

Structural Insulation Panels Market Size

Structural Insulation Panels (SIP) Market size is slated to record more than 6.5% CAGR from 2024 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.