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Structural Insulated Panels Market: Spiraling Growth Forecast with a CAGR of 5.2% Propelled by Construction Boom and Green Building Trends
Structural Insulated Panels Market
What Is The Projected Market Size Of The Global Structural Insulated Panels Market And Its Growth Rate?
Key statistics reveal an optimistic growth projection for the global structural insulated panels market:
•It increased from $0.45 billion in 2024 to $0.47 billion in 2025 at a compound annual growth rate (CAGR) of 5.0%.
•The market size is expected to grow to $0.57 billion in 2029 at a compound annual growth rate (CAGR) of 5.2%.
What Is Driving The Growth In The Structural Insulated Panels Market?
A significant driver behind the structural insulated panels market growth is the increasing emphasis on green buildings. The structural insulated panel system's superior thermal resistance and insulation capabilities allow the building envelope to manage heating, cooling, and humidity using less energy. For instance, in 2022, Canada ranked third globally on the annual list of Top 10 Countries and Regions for LEED certification, indicating its robust commitment to sustainable building.
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Who Are the Key Players Driving Structural Insulated Panels Market Growth?
The key players operating in the structural insulated panels market include:
•Owens Corning
•Kingspan Group Plc
•SSAB AB
•KPS Global
•Premier SIPs
•Enercept Inc
•Extreme Panel Technologies Inc.
•Isopan
•Structural Panels Inc
•All Weather Insulated Panels
•Shandong Hark Steel Material Co Ltd
•Shandong Wiskind Architectural Steel Co Ltd
•Shandong Wiskind Steel Structure Co Ltd
•Xiamen Yumi New Material Technology Co Ltd
•Yantai Jedha Industrial and Trading Co Ltd, and others.
What Are The Key Trends In The Structural Insulated Panels Market?
Key trends in the structural insulated panels market include:
•Technology advancements
•Increasing use of structural insulated panels in modular construction
•Focus on green buildings and sustainability
•Increasing investments
•Innovative product launches
•Increasing mergers and acquisitions.
What Are The Segments Of The Global Structural Insulated Panels Market?
The structural insulated panels market is segmented by:
1) Insulation Materials: Expanded Polystyrene (EPS) Panel, Rigid Polyurethane (PUR), Rigid Polyisocyanurate (PIR) Panel, among others
2) Facing Material: Oriented Strand Board (OSB) Structural Insulated Panels, Magnesium Oxide (MGO) Board Structural Insulated Panels, and others
3) Application: Walls And Floors, Roofs, Cold Storage
4) End User: Residential, Non-Residential
Which Region Leads The Structural Insulated Panels Market?
North America led the structural insulated panels market in 2024. Nevertheless, the Asia-Pacific region is expected to witness the fastest growth in the forecast period.
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What Is Covered In The Structural Insulated Panels Market Global Market Report?
• Market Size Analysis: Analyze the Structural Insulated Panels Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Structural Insulated Panels Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Structural Insulated Panels Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Structural Insulated Panels Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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