The Global Structural Insulated Panels (SIP) Market is expected to reach around USD 500 million by 2026 and growing at a CAGR of over 4.5% over the forecast period 2019 to 2026.
The requirement for strong-performance and green building systems with eco-friendly materials is expected to further boost consumer demand on the market. Structural panels are prefabricated construction materials that facilitate and speed up the process of installation without affecting the quality of construction. In addition, cold-storage systems are projected to grow in the food and drink sector to have a positive impact on market growth. During the forecast period, residential and commercial pipeline projects would probably support consumer demand. The demand for structural insulated panels is also anticipated to grow in isolating patterns for energy efficient and sustainable building. Hence, uplifting the demand for SIP over the coming years. Structural-insulated panels are very heat and cold tolerant and therefore help to maintain an optimum level of the space climate, leading to low electricity costs. But the biggest obstacle for the industry is projected to be high commodity prices and transport costs for rigid insulated boards. The review of the SIP application assessment and its disadvantages clearly indicate the need for further studies to be improved beyond the existing SIP
The buildings that are built with these insulated boards, though, offer greater insulation and long-term cost-effectiveness. The constant separation provided by these panel's helps keep the wall temperature steady, which gives the occupant high comfort. It also decreases humidity accumulation on the wall and improves building surface longevity. The demand for structurally insulated panels is expected to increase through energy efficiency legislation and the initiatives taken by EU countries to reduce overall emissions from carbon in the region.
The construction and durability of isolation systems are key players in the sector panels. However, rising prices of plastics and wood materials are expected to hinder growth during the forecast period. insulated polyurethane panels offer better temperature resistance and lightweight properties. The development of inexpensive and environmentally sensitive houses in rapid pace has put dream home into scope since the advent of building technologies. Since SIPs are already engineered panels, the facility of installation and speed are increased without affecting building quality. Wall assemblies installed in factories such as SIPs could minimize building time and operating cost by 40 to 48%.
In 2018, the application for walls and floors represented the largest market share. A increasing need to renovate housing facilities due to better living standards and higher spending efficiency is likely to further stimulate the market growth of structural insulated panels. The increase in cold chain operations in major economies such as Asia-Pacific and North America due to the increasing consumption of processed and packaged food supply has driven the market for structural insulated panels. The reliability of well-built SIP houses has been shown to be similar to traditional buildings. Though, the failure of the structural insulated panel housing units can lead to poor installation procedures. Material and transport costs are the biggest challenges for SIP buildings. SIPs can be made more costly than conventional wood-framed buildings through extra material costs. In contrast, transport costs can be multiple times higher in comparison to traditional building goods for panelized products. These incremental costs can, however, be fully compensated by saving the cost on-site.
End Use Outlook
Due to the similarities in materials and construction practices, the life expectancy of a well-designed and well-kept SIP house is equivalent to a conventionally constructed home. These panels are produced according to application and thermal / structural requirements in different dimensions and thicknesses. Non-Residential sector dominated the global SIP market and is projected to show similar trend over the forecast period. Residential sector is also anticipated to show significant growth over the forecast period owing to green building initiatives by various regulatory bodies across Asia, Americas, and Europe.
There are four major SIP companies in Canada and a number of small businesses. Local building authorities consider technologies differently, but it was generally good when more information was provided. In Canada, an SIP building can be built and building code clearance can still be received. Also, As an alternative construction material for residential and light-commercial buildings in the UK, structural insulated panels (SIPs) slowly gain in popularity. People believe that in contrast with standard timber frame construction, they show significant power, thermal efficiency and deployment speed advantages. During design of many kinds of panel construction systems panels consisting of a thick layer of foam sandwiched between the two layers of the guided strand board (OSB) or plated surface are generally referred to as SIP. To Britain, the idea was relatively unknown, but its popularity in other nations, especially in the United States and Canada, inspired British designers and suppliers to join.
The market research study on “Structural Insulated Panels (SIP) Market By Application: Walls, Roofs, Floors, By End-Use:- Residential, Commercial, Non-Building :-Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026” offers a detailed insights on the global Structural Insulated Panels (SIP) market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global Structural Insulated Panels (SIP) market, its ingredient, product, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Structural Insulated Panels (SIP) market size and segment markets by application, end-use and geography along with the information on companies operating in the market. The Structural Insulated Panels (SIP) market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. For each region, the market size and volume for different segments has been covered under the scope of the report.
Key Players and Strategies
Key players in this market comprise of Alubel SpA, ArcelorMittal, Jiangsu Jingxue Insulation Technology Co. Ltd, Kingspan Group, Marcegaglia SpA, Metecno, Owens Corning, PFB Corporation, Premier Building Systems, Rautaruukki Corporation, Tata Steel Europe Limited, Zamil Steel Pre-Engineered Buildings Co. Ltd, BALEX-METAL, DANA Group of Companies, Isopan (Manni Group SpA), Italpannelli SRL, Multicolor Steels (India) Pvt Ltd, NCI Building Systems, and Nucor Building Systems.
The global Structural Insulated Panels (SIP) market is segmented as below:
Market By Application
Market By End User
Market By Geography
According to Acumen Research and Consulting, the structural insulated panels (SIP) market value is anticipated to be worth around US$ 500 million in 2026.
The structural insulated panels (SIP) market is anticipated to grow over 4.5% CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for structural insulated panels (SIP) market.
Alubel SpA, ArcelorMittal, Jiangsu Jingxue Insulation Technology Co. Ltd, Kingspan Group, Marcegaglia SpA, Metecno, and Owens Corning are the top players operating in the structural insulated panels (SIP) market.
The global Structural Insulated Panels (SIP) market is segmented into ingredient, product, and major geographic regions.
In 2018, the application for walls and floors represented the largest market share.
The end users of structural insulated panels (SIP) market are residential, commercial and non-building.