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Structural Insulated Panels Market - Segmented by Product, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4663739
  • Report
  • October 2018
  • Region: Global
  • 132 pages
  • Mordor Intelligence
until Sep 30th 2021
The global structural insulated panel market is estimated to reach USD 523.60 million by revenue, by 2023, at an estimated CAGR of 6.13% over the forecast period of 2018-2023. The major factors driving the market studied are the increasing demand from the construction sector and increasing cold storage applications. Advancements in building technologies such as modular construction techniques are expected to hinder the growth of the market studied.

Growing Demand from the Construction Sector

One of the main drivers for the structural insulation panel market is the increasing demand from the construction sector. The rise in building and construction activities are the prominent factors augmenting the demand for Structural Insulated Panels (SIPs). Among the various nonconventional insulations being introduced to the construction industry as the next-generation thermal insulation, SIPs appear to be one of the most promising insulation materials with the significant thermal insulating capacity. Moreover, owing to its various advantages, SIPs are widely employed in specialty construction industry. These include that they can be used in various applications, including internal and external walls, roofs, flooring surfaces, and SIPs can be easily combined with other construction materials such as blocks, stones, bricks, wood, tiles, steel, and glass. Furthermore, increasing construction spending and expenditure is expected to drive the structural insulation panel market during the forecast period.

Building Wall to Witness Fastest Growth

Structural insulated wall panels are generally available in thicknesses of 4-1/2 inches and 6-1/2 inches. Manufacturing of curved wall panels are possible and it is often more practical to use stud framing for non-orthogonal geometries. The whole wall R-value of a wall assembly is currently the best and the most followed method of quantifying the total thermal performance. The whole wall R-value of a 4-inch structural insulated wall panel is 14, whereas for a 2x4 wall is less than 10. The whole wall R-value of a 2x6 wall is between 11 and 13.7 depending on the quality of the installation of batt insulation. The elimination of thermal bridging and a more airtight envelope contributes to the higher whole wall R-value of structural insulated wall panels, compared to the conventional metal and wood stud walls. The total volume of the panels used as structural insulated wall panels is much higher, compared to the volume of the panels used as structural insulated roof panels.

North America to Dominate the Market

North America region dominated the global market share in 2017. The construction industry in the United States has not been the same in 2017 as it was in the past three years. An increase has been observed in the private construction spending over the years. The residential and non-residential construction in 2017 has increased significantly compared to the previous years and is likely to grow in 2018. The residential construction in 2016 and 2017 has increased year-on-year by 10.52% and 10.58% respectively. The non-residential construction has also increased by 7.71% from 2015 to 2016. In addition, a growth is also being witnessed in the housing repair and refurbishment activities. The Harvard Joint Center For Housing Studies estimates that the remodeling expenditures for housing in the United States will reach almost USD 340 billion in 2018, exhibiting a growth of 7.5% over 2017. Furthermore, the Canadian government is planning to invest in public & renewable energy infrastructure through Affordable Housing Initiative (AHI), Made in Canada, and New Building Canada Plan (NBCP), among others, which is expected to support the country’s growth in near future. All the aforementioned factors, in turn, boost the demand for structural insulated panels in the North American region during the forecast period.

Key Developments in the Market

June 2018: Marcegaglia group completes 80% acquisition of the capital of Novero Spa

The major players include - Kingspan Group (including BALEX-METAL), Rautaruukki Corporation, PFB Corporation, Owens Corning, Nucor Building Systems, and NCI Building Systems, among others.

Structural Insulated Panels Market Report Summary

Key Developments

Marcegaglia group completes 80% acquisition of the capital of Novero Spa

Regions Covered

Asia-Pacific, North America, South America, Europe, and Middle East & Africa

Companies Covered

Kingspan Group (including BALEX-METAL), Rautaruukki Corporation, PFB Corporation, Owens Corning, Nucor Building Systems, and NCI Building Systems

Report Coverage

Revenue forecast, technological snapshot, market share analysis, latest trends, and market dynamics

Reason to Purchase the Report
  • Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
  • To understand the dominating process type and filler used in the market.
  • To identify the countries that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3-month analyst support along with the Market Estimate sheet (in Excel).
Customization of the Report

This report can be customized to meet your requirements. Please connect with our Customer Service team, who will ensure you get a report that suits your needs.
Note: Product cover images may vary from those shown
1. Introduction
1.1 Scope of the Report
1.2 Study Assumptions
1.3 Study Deliverables
1.4 Research Phases

2. Executive Summary

3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Intensity of Competitive Rivalry
3.3 Technological Snapshot
3.3.1 Production Process

4. Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand from the Construction Sector
4.1.2 Increasing Cold Storage Applications
4.2 Restraints
4.2.1 Advancements in Building Technologies such as Modular Construction Techniques
4.3 Opportunity
4.3.1 Increase in Demand from Emerging Economies

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Product
5.1.1 EPS (Expanded Polystyrene) Panels
5.1.2 Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panels
5.1.3 Glass Wool Panel
5.1.4 Other Products (Extruded Polystyrene Foam)
5.2 By Application
5.2.1 Building Wall
5.2.2 Building Roof
5.2.3 Cold Storage

6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 Italy
6.3.4 France
6.3.5 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa

7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 Alubel SpA
8.2 ArcelorMittal
8.4 DANA Group of Companies
8.5 Isopan (Manni Group SpA)
8.6 Italpannelli SRL
8.7 Jiangsu Jingxue Insulation Technology Co. Ltd
8.8 Kingspan Group
8.9 Marcegaglia SpA
8.10 Metecno
8.11 Multicolor Steels (India) Pvt Ltd
8.12 NCI Building Systems
8.13 Nucor Building Systems
8.14 Owens Corning
8.15 PFB Corporation
8.16 Premier Building Systems
8.17 Rautaruukki Corporation
8.18 Tata Steel Europe Limited
8.19 Zamil Steel Pre-Engineered Buildings Co. Ltd


**Subject to availability on public domain
Note: Product cover images may vary from those shown