Market Size of Structural Insulated Panels Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Structural Insulated Panels Market Analysis
During the time frame of the forecast, the structural insulated panel market is expected to grow at a CAGR of more than 6%.
The construction industry is one of the industries that was badly impacted by the COVID-19 outbreak. Because of a lack of funds, labor shortages, and lockdown regulations, many projects were halted in 2020. But the construction industry is getting better quickly and will continue to grow over the next few years.
- Over the next five to ten years, the market is likely to be driven by the growing demand from the construction industry and the growing number of uses in cold storage.
- On the other hand, improvements in building technologies, like modular construction, are likely to slow the growth of the market.
- But the demand for green buildings is growing, which could be a chance for the market to grow.
- North America had the most of the market, mostly because there were more building projects in Canada and Mexico.
