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Structural Insulation Panels (SIP) Market Size

Report ID: GMI2452
Published Date: Aug 2023
Report Format: PDF

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Structural Insulation Panels Market Size

Structural Insulation Panels (SIP) Market size is slated to record more than 6.5% CAGR from 2024 to 2032.The surging adoption of stringent building codes as well as standards emphasizing energy efficiency and sustainability across multiple countries and regions will contribute to the industry growth. The emergence of zero-energy home (ZEH) concept has steered the popularity of foam plastic insulation building assemblies, including SIPs for forming airtight building envelopes to cuts energy employed in heating and cooling. The introduction of several new energy-efficient technologies will proliferate the product demand.

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Structural Insulation Panels Market Growth Drivers & Restraints

The rising number of investments for the development of cold chain infrastructure worldwide will positively impact the market expansion. To quote an instance, in September 2022, UBS joined PGGM and other investors in making an initial $700 million investment in large new cold storage warehouses to assist the perishable agriculture and real estate industries. On the contrary, the higher costs of structural insulation panels along with dearth of raw materials may pose as restraints for the product uptake.

Structural Insulation Panels Market Report Attributes
Report Attribute	Details
Base Year:	2023
Structural Insulation Panels Market Size in 2023:	USD 562.43 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.5%
2032 Value Projection:	USD 862.8 Million
Historical Data for:	2018 – 2023
No. of Pages:	500
Tables, Charts & Figures:	732
Segments covered:	Product, Skin Type, Application, End-Use and Region
Growth Drivers:	Presence of favorable governments regulations & programs Surging construction of green buildings Growing thermal insulation materials market Rising cold chain infrastructure investments worldwide
Pitfalls & Challenges:	Higher product costs along with stringent regulations on raw materials

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of structural insulation panels is slated to record more than 6.5% CAGR from 2024 to 2032, due to the surging adoption of stringent building codes as well as standards emphasizing energy efficiency and sustainability across multiple countries and regions.

The commercial end-use segment may observe more than 6.5% between 2023 and 2032, due to benefits, such as rapid construction, energy efficiency, and design versatility.

Asia Pacific structural insulation panels market is expected to witness over 8% CAGR from 2023-2032 driven by the rising population growth, urbanization, and infrastructure development in the region.

Kingspan Group, Owens Corning, Enercept Inc., Eagle Panel Systems, Inc., ACME PANEL, Cornerstone Building Brands, Foam Laminates, Lattonedil Spa Milano, Foard Panel Inc., and Premier Building Systems, among others.