Structural Insulated Panels Market 2021-26: Size, Trends, Share, Growth and Forecast
IMARC Group expects the global structural insulated panels market to grow at a CAGR of 5.8% during 2021-2026.
SHERIDAN, WYOMING, UNITED STATE, January 31, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group “Structural Insulated Panels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″, The global structural insulated panels market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.8% during 2021-2026.
Structural insulated panels (SIPs) are lightweight prefabricated building systems used for insulating purposes in residential and commercial building construction. They are energy efficient and help resist heat transfer and provide strength and durability to structures compared to traditional insulation methods. Consequently, they are widely utilized in cold storage systems for maintaining optimal temperature with minimal energy requirements.
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Market Trends:
Significant growth in the construction industry across the globe represents one of the key factors creating a positive outlook for SIPs in designing walls, ceilings, floors, and roofs. SIPs can also be combined with blocks, tiles, bricks, slates, steels, woods, and glasses to improve energy efficiency, durability, and cost-effectiveness. Moreover, the increasing environmental consciousness among individuals is driving the need for SIPs that are lightweight, non-combustible, thermal resistant, and flexible building materials. Additionally, the rising demand for SIPs in food preparation and processing and storage systems for temperature-sensitive pharmaceutical and retail products is impelling the market growth. Besides this, several product innovations, such as curved wall panels and soundproof variants, are anticipated to propel the market growth.
Breakup by Product:
Polystyrene
Polyurethane
Glass Wool
Others
Breakup by Application:
Walls and Floors
Roof
Cold Storages
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
All Weather Insulated Panels
American Insulated Panel
Enercept Inc.
Ingreen Systems Corp.
Isopan (Manni Group S.p.A)
Kingspan Group plc
KPS Global
Metl-Span Llc (Cornerstone Building Brands)
Owens Corning
PFB Corporation
Premier Building Systems Inc
Structural Panels Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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