Global Structural Insulated Panel Market – Growth, Trends, and Forecast (2017 - 2022)
The global structural insulated panel market is driven by a huge demand from the construction sector, for the use in buildings. Structural insulated panels (SIPs) are high performance building panels, used in walls, roofs, and floors for residential and light commercial buildings. The panels consists of an insulating foam core between two structural facings, a typically oriented strand board (OSB).
The important driver for structural insulated panel market is a high demand of SIPs in the construction sector, for use as high performance building panels. Another important driver for the SIP market is its use in reducing power consumption of a structure to maintain internal temperatures. SIPs allow for energy-efficient construction as they are well insulated, and allow for more airtight construction than traditional building methods. The market is segmented on the basis of application and product type. On the basis of application, it is segmented into building wall, building roof and cold storage, where building wall and roof contains the major share of the market. The market is further segmented on the basis of product type, into expanded polystyrene (EPS) panel, rigid polyurethane (PUR) and rigid polyisocyanurate (PIR) panel, glass wool panel and others, which mainly consists of extruded polystyrene foam (XPS). Expanded polystyrene (EPS) panel dominates the market segment by product type.
The major challenges that SIP market faces are, the lack of awareness about structural insulated panels and advancements in other types of building technology like, modular construction techniques etc. which poses a threat to the market.
Areas with Scope for Structural Insulated Panel
North America and Europe are major consumers of structural insulated panels, and are expected to witness a moderate growth over the forecast period, as the countries are capable of purchasing premium construction materials and products for building energy efficient structures. The Asia-Pacific market has a massive scope of growth, particularly in India and China, owing to the large number of construction activities in the region.
Notable Developments in the Market
In Jun 2017, Kingspan Insulated Panels introduced a new Factory Applied Weather Seal (FAWS), which was designed to improve weather protection and thermal performance in the insulated roof panels.
Why Purchase the Global Structural Insulated Panel Market Report?
• Know about the latest regulations &policies of the structural insulated panel market
• Analyzing various market perspectives with the help of Porter’s five forces analysis
• Which segment of structural insulated panel, by application or by product type, will dominate the market?
• Which of the regions will witness the fastest growth during the forecast period?
• Identify the latest developments, market shares, and strategies employed by major market players, such as:
o NCI Building Systems
o TATA Steel