Structural Insulated Panels Market Size, Share, Competitive Landscape and Trend Analysis : Global Opportunity and Industry Forecast, 2021-2030
WILMINGTON, DELAWARE, UNITED STATES, May 22, 2024 /EINPresswire.com/ — Prime Determinants of Growth
The global structural insulated panels (SIPs) market is experiencing significant growth driven by the rise in commercial and residential real estate markets, recovery in the construction industry, and increased spending on home remodeling. Additionally, the surge in construction activities for green buildings presents new opportunities for market expansion in the coming years.
According to the report, the global structural insulated panels industry generated $458.1 million in 2020, and is estimated to generate $786.6 million by 2030, witnessing a CAGR of 5.5% from 2021 to 2030.
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Market Overview –
Structural insulated panels are highly favored for use in walls, roofs, and cold storage facilities. The rising construction of residential and commercial buildings, along with an increasing number of warehouses, is expected to create lucrative opportunities for the global SIPs market. The growing demand for green buildings and the need to reduce heat transfer from the external environment, thereby cutting energy expenditure on cooling structures, are further propelling market growth.
The rapid expansion of the e-commerce industry, which necessitates more warehouses and distribution centers, also fuels market opportunities. For example, in March 2021, Amazon announced the construction of a new 130,000 square foot distribution center in Hollister, California.
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Market Outlook and Forecasts:
The SIPs market is analyzed across several regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America currently leads the market, driven by increased demand from the residential sector and the cold storage industry. In the UAE, significant investments in cold storage and cold logistics chains, spurred by its status as a regional food import and trade powerhouse, are boosting demand for structural insulated panels.
The Asia-Pacific region is expected to witness the fastest growth due to a rapid increase in the construction of green buildings and rising awareness of the benefits of insulated building structures.
The COVID-19 pandemic posed challenges, leading to temporary shutdowns of SIPs manufacturing in countries like China, the U.S., and India, and creating supply chain constraints due to technology limitations. However, with the reopening of production facilities and the rollout of COVID-19 vaccines, the structural insulated panels market is poised for recovery and continued growth.
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The Report Will Help the Readers:
-Comprehend the overall market dynamics.
-Examine and analyze the competitive landscape and future prospects of the lithium-ion battery energy storage system market using various frameworks, including Porter’s five forces.
-Assess the impact of various government regulations during the global health crisis and evaluate the market conditions for lithium-ion battery energy storage systems in challenging times.
-Review the portfolios of prominent market players and conduct an in-depth analysis of their products and services.
-Gain a clear understanding of the highest revenue-generating segment.
Competitve Analysis:
The key players profiled in the structural insulated panels market report include Owens Corning, PFB Corporation, Premier Building System, Rautaruukki Corporation, T. Clear Corporation, ACME Panels, American Insulated Panel, Extreme Panel Technologies, Inc., InGreen Systems, and Kingspan Group PLC.
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