Structural Insulated Panels Market Forecast 2030 | Hits at a CAGR of 5.5%
Structural Insulated Panels Market Expected to Reach $786.6 Million by 2030
PORTLAND, OR, UNITED STATES, October 5, 2023 /EINPresswire.com/ — Structural insulated panels are widely preferred in walls & roofs and cold storage facilities. Rise in construction of residential & commercial buildings as well as warehouses is expected to offer remunerative lucrative opportunities for the global market. In addition, surge in demand for green buildings and need for eliminating heat transfer from external environment through conduction, which, in turn, reduces the energy expenditure on cooling of building structure.
The global structural insulated panels market size was valued at $458.1 million in 2020, and is projected to reach $786.6 million by 2030, registering a CAGR of 5.5% from 2021 to 2030.
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The structural insulated panels market is analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America has dominated the market, due to increase in demand from residential sector and cold storage industry. UAE has established itself as the region’s food import and trade powerhouse.
As a result, it is witnessing increased expenditure in cold storage and cold logistics chain, which drives the demand for structural insulated panels. Asia-Pacific is expected to grow at the fastest rate, due to rapid increase in construction of green buildings and increase in awareness of benefits of insulated building structures.
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Top Players:
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.
Key Segments
By Product Type
• Polystyrene
• Polyurethane Panels and Polyisocyanurate Panels
• Glass Wool
• Others
By Application
• Walls & floors
• Roofs
• Cold Storage
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Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging structural insulated panels market trends and dynamics.
• Depending on product type, the polystyrene panels dominated the structural insulated panels market, in terms of revenue in 2020.
• By application, the walls & floors segment registered highest revenue in 2020.
• Residential sector is projected to register highest growth rate in the coming years.
• The key players within the structural insulated panels market are profiled in this report, and their strategies are analyzed thoroughly, which help
understand competitive outlook of the structural insulated panels industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market.
David Correa
Allied Analytics LLP
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