The global structural insulated panels market size is expected to reach USD 610.6 Million in 2028 and register a revenue CAGR of 5.4% over the forecast period, according to a latest report by Reports and Data. Some key factors driving global structural insulated panels market revenue growth are increasing demand for eco-friendly, economical, and energy-efficient building materials. Cost-effectiveness in terms of minimizing energy costs and increasing energy efficiency of buildings through adoption of more efficient materials such as structural insulated panels is expected to continue to boost revenue growth of the market going ahead. Increasing investment by manufacturers for development of structural insulated panels which can be suit almost any building design is driving utilization in the construction industry. The airtightness and unrivaled insulation delivered by structural insulated panels helps in reducing energy costs over the lifetime of a building. These panels are around 50% more energy efficient in comparison to traditional timber panels, and also contribute positively to the environment by minimizing CO2 levels. Moreover, less energy consumed during the manufacturing processes in comparison to traditional construction materials is expected to drive promotion and preference and is expected to support market growth.
Increasing initiatives to minimize greenhouse gas emissions and need for energy conservation in residential and commercial buildings are factors contributing to increasing utilization of structural insulated panels. For example, the Building Technology Program by the Department of Energy (DOE) made its goal to minimize residential consumption through the adoption of Zero-energy Home concept. Zero-energy Home concept is driving demand for structural insulated panels as these form an airtight building envelope that reduces energy needs for cooling and heating, and thus helping in energy conservation. Rapid urbanization and growth in the construction industry across developing countries is expected to continue to boost market growth. Increase in the number of residential, healthcare, and commercial buildings, driven by rapidly increasing population is also supporting market revenue growth. Increasing need for more energy efficient solution in buildings is fueling rising usage of construction materials with exceptional thermal performance and less impact on the environment.
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Some major players in the market include PREMIER SIPS, Alubel SpA, Kingspan Group plc, PFB Corporation, Owens Corning, Foard Panel, Inc., ENERCEPT, INC., Eagle Panel Systems, Inc., Extreme Panel Technologies, Inc., and Insulspan Inc.
Report Scope:
The report is formulated through extensive primary and secondary research and is further validated and verified by the industry experts and professionals. The report offers key insights to the readers, businesses, and stakeholders to help them make informed decisions and gain a robust footing in the market. The report analyzes the growth trends in the historical years and offers an idea about the current and emerging trends of the industry. Advanced analytical tools such as SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis are included in the report.
Some Key Highlights From the Report
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For the purpose of this report, Reports and Data has segmented the global structural insulated panels market based on material type, skin type, application, and region:
Material Type Outlook (Revenue, USD Million; 2018-2028)
Skin Type Outlook (Revenue, USD Million; 2018-2028)
Application Outlook (Revenue, USD Million; 2018-2028)
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