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Structural Insulated Panels Market Report 2023-2032: Market Size, Growth Drivers And Key Trends
Structural Insulated Panels Market
The Business Research Company's Structural Insulated Panels Global Market Report 2023 identifies increase in emphasis on green buildings as the major driver for the Structural Insulated Panels market's growth in the forecast period. The structural insulated panel system has superior thermal resistance and, insulation capabilities, which enables the building envelope to regulate the heating, cooling, and humidity using less energy to heat or cool.
The global structural insulated panels market size grew from $0.41 billion in 2022 to $0.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of structural insulated panels market is expected to grow to $0.55 billion in 2027 at a CAGR of 6.3%.
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Major competitors in the Structural Insulated Panels market are Kingspan Group, PFB Corporation, Isopan, Structural Panels Inc., Ingreen Systems Corp., Owens Corning, Premier Building Systems.
A key trend in the Structural Insulated Panels market includes growing collaborations and strategic partnerships. Structural insulated panel companies are focusing on manufacturing sustainable products and reducing emissions. For instance, in April 2021, Kingspan Group, an Ireland-based building materials company that produces structural insulated panels partnered with Sweden based fossil-free steel manufacturer, H2 Green Steel. The partnership would help in reducing embodied carbon in Kingspan's insulated panel products by over 45% and aid towards net zero carbon manufacturing by 2030 with the intent of minimizing emissions to the lowest possible level.
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The Structural Insulated Panels market is segmented -
• By Product: EPS (Expanded Polystyrene) Panel, Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel, Glass Wool Panel, Other Products
• By Facing Material: Oriented Strand Board (OSB) Structural Insulated Panels, Magnesium Oxide (MgO) Board Structural Insulated Panels
• By Application: Walls And Floors, Roofs, Cold Storage
• By End User: Residential, Nonresidential
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Structural Insulated Panels market.
The Business Research Company's "Global Structural Insulated Panels Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Structural Insulated Panels Market Include:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
…………………………………………..
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Structural Insulated Panels Market, Conclusions And Recommendations
22. Appendix
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