Structural Insulated Panels Market | Key players operating in the market include Owens Corning, Kingspan Group, PFB Corp, Alubel SpA, Enercept

According to recent market research "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.

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OSB, by facing material, accounted for the largest market share in the structural insulated panels market. It is widely used throughout the construction industry due to its excellent load-bearing capabilities. Additionally, since OSB can be manufactured from fast-growing, underutilized, and often less-expensive wood species, it represents an efficient use of raw materials. According to the Structural Insulated Panel Association (SIPA), “About 85-90% of a log can be used to make high-quality structural panels, and the remainder—bark, saw trim, and sawdust—can be converted into energy, pulp chips, or bark dust.”
EPS, by insulation material, accounted for the greatest demand for structural insulated panels in 2019, in terms of value and volume. Furthermore, EPS is projected to be the fastest-growing insulation material for the structural insulated panels, by 2025, in terms of value as well as volume. The growth of this segment is due to the increase in the demand for EPS for insulation panels, owing to its cost-effective and energy-efficient insulation.

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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 Compound Annual Growth Rate (CAGR) of 5.0% during the forecast year. According to the Structural Insulated Panel Association (SIPA), “Structural Insulated Panels (SIPs) are a high-performance building system (for residential and light commercial construction), and consist of an insulating foam core sandwiched between two structural facings, typically Oriented Strand Board (OSB). Structural insulated panels are manufactured under factory controlled conditions and can be fabricated to fit nearly any building design. The result is a building system that is extremely strong, energy efficient, and cost, labor & time effective.”

The structural insulated panels market has thousands of companies which thrive in their domestic market. A few of the major players are, Owens Corning (US), Kingspan Group (Ireland), PFB Corporation (Canada), Alubel SpA (Italy), Enercept, Inc. (US), Extreme Panel Technologies, Inc. (US), T. Clear Corporation (US), and Premier SIPs (US). These players have adopted various growth strategies, such as acquisitions, and new product developments, to increase their market shares and enhance their product portfolios.

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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.

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