Structural Insulated Panels Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product (Expanded Polystyrene Panel, Rigid Polyurethane and Rigid Polyisocyanurate Panel, Glass Wool Panel, and Other Products), Application (Building Wall, Building Roof, and Cold Storage), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for structural insulated panels in revenue (USD million) for all the above segments.

Market Summary

Structural Insulated Panels Market - Market Summary
Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

>6 %

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Market Overview

The Global Structural Insulated Panels Market was valued at over USD 400 million in 2020 and the market is projected to register a CAGR of greater than 6% during the forecast period (2021-2026). 

The construction industry is one of the industries that are badly impacted by COVID-19. Structural insulated panels are used in building walls, roofs, and other constructions. Because of a lack of funds, labor shortage, and lockdown regulations, many projects were halted in 2020. Due to a ban on inter-state travel, an exodus of migrant workers, also known as informal sector workers, wreaked havoc on the supply chain. This caused less consumption of construction materials and decreased demand and supply. Owing to all these factors, the structural insulated panels market is hindered by the impact of COVID-19.

  • Over the medium term, the major factors driving the market studied are the increasing demand from the construction sector and increasing cold storage applications.
  • On the flip side, advancements in building technologies such as modular construction techniques are expected to hinder the growth of the market studied.
  • North America dominated the market. This growth is primarily due to rising construction activities in Canada and Mexico.

Scope of the Report

Structural insulated panels are high-performance building systems used in construction applications. The structural insulated panels market is segmented by product, application, and geography. By product, the market is segmented into Expanded Polystyrene panel, Rigid Polyurethane and Rigid Polyisocyanurate panel, glass wool panel, and other products. By application, the market is segmented into Building Wall, Building Roof, and Cold Storage. The report also covers the market size and forecasts for the Structural Insulated Panels Market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD Million).

Product
EPS (Expanded Polystyrene) Panel
Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel
Glass Wool Panel
Other Products (Extruded Polystyrene Foam)
Application
Building Wall
Building Roof
Cold Storage
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand for Building Walls

  • 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 takes the resistance of heat flown through an opaque cross-sectional area of the insulation and structure into the account while the total loss of energy at the interfaces of the wall with the roof and floor are accounted.
  • 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.
  • According to World Bank and Mordor Intelligence Analysis, the construction industry spending worldwide in the year 2019 is USD 12 trillion and is forecasted to reach an estimated value of USD 15.3 trillion in the year 2026 which will create the demand for building walls.
  • Owing to above mentioned factors, demand for building walls dominated the market is expected to grow during the forecast period.
Structural Insulated Panels Market - Segmentation Trend

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North America Region to Dominate the Market

  • North America region dominated the global market share. The construction industry in the United States has witnessed an increase in private construction spending over the years.
  • The US Census Bureau has been providing more permits for the construction of new residential buildings due to the current trend of a multi-family building, along with a rise in the migration to cities.
  • According to US Census Bureau, construction spending in the United States in both private, as well as public construction in 2020, is around USD 1400 billion.
  • In the non-residential construction sector, major growth was witnessed in the number of healthcare, commercial, and office buildings. The investments in transportation, communication, and power infrastructure have also witnessed growth.
  • Construction is one of Canada’s largest and most important industries. Toronto and Montreal are the main centers of construction activity, accounting for approximately 25% of the total revenue.​
  • The aforementioned factors are driving the consumption of the structural insulated panel that are used in the region.
Structural Insulated Panels Market - Regional Trend

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Competitive Landscape

The global structural insulated panels market is a highly fragmented market with no major player accounting for a prominent share in the global market. Most of the market leaders are forward integrated, i.e., they produce structural insulated panels along with providing installations and maintenance services. Premier Building Systems, Inc. is the leading manufacturer of structural insulated panels in the North America region. Some of the other major players include Kingspan Group, Rautaruukki Corporation, PFB Corporation, and Owens Corning, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Construction Sector

      2. 4.1.2 Increasing Cold Storage Applications

    2. 4.2 Restraints

      1. 4.2.1 Advancements in Building Technologies such as Modular Construction Techniques

      2. 4.2.2 Impact of COVID-19 on the Market Studied

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 EPS (Expanded Polystyrene) Panel

      2. 5.1.2 Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel

      3. 5.1.3 Glass Wool Panel

      4. 5.1.4 Other Products (Extruded Polystyrene Foam)

    2. 5.2 Application

      1. 5.2.1 Building Wall

      2. 5.2.2 Building Roof

      3. 5.2.3 Cold Storage

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

        4. 5.3.2.4 Rest of North America

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Russia

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alubel SpA

      2. 6.4.2 ArcelorMittal

      3. 6.4.3 Balex-Metal

      4. 6.4.4 DANA Group of Companies

      5. 6.4.5 Manni Group S.p.A

      6. 6.4.6 ITALPANNELLI SRL

      7. 6.4.7 Jiangsu Jingxue Insulation Technology Co., Ltd

      8. 6.4.8 Kingspan Group

      9. 6.4.9 METECNO GROUP

      10. 6.4.10 Multicolor Steels (India) Pvt. Ltd

      11. 6.4.11 Cornerstone Building Brands

      12. 6.4.12 Nucor Building Systems

      13. 6.4.13 Owens Corning

      14. 6.4.14 PFB Corporation

      15. 6.4.15 Premier Building Systems, Inc

      16. 6.4.16 Rautaruukki Corporation

      17. 6.4.17 Tata Steel

      18. 6.4.18 Zamil Industrial

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Structural Insulated Panels Market market is studied from 2016 - 2026.

The Structural Insulated Panels Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • PFB Corporation
  • Owens Corning
  • Kingspan Group
  • Rautaruukki Corporation
  • Premier Building Systems, Inc.

Are the major companies operating in Structural Insulated Panels Market.

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