Global Structural Insulated Panels Market Analysis & Trends - Industry Forecast to 2030

Global Structural Insulated Panels Market Analysis & Trends - Industry Forecast to 2030

Structural Insulated Panels: Market Size

From $582.57 million in 2024, the global Structural Insulated Panels market is projected to reach $977.03 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 9.0% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include growing demand of structural insulated panels for cold storage, supportive building regulations and growth and rapid urbanization translating into large number of construction projects.

Global Structural Insulated Panels Market: Market Dynamics

Increasing foreign direct investment (FDI) in construction, and supportive government regulations and policies regarding building & construction industry are factors fueling the market. New building constructions with improved energy-efficient solutions for residential and commercial sectors in several countries are driving the market demand. Favorable government regulations for improved energy efficiency in commercial & residential buildings to prevent natural resources loss will proliferate the industry landscape. Rising population, rapid urbanization, and construction sector growth are among the key factors propelling the market growth.

On the other hand, the fluctuating raw material prices and environmental dangers and rigorous government regulations is likely to obstruct the profit boundaries. In addition, construction industry's awareness of energy efficiency is growing, will further boost for the Structural Insulated Panels market.

Impact of COVID-19 on Structural Insulated Panels

With the easing of pandemic restrictions, steel demand, the most important material for structural insulated panels, increased rapidly. As a result, steel prices have risen tremendously. These soaring prices are increasing manufacturing costs and decreasing profits of steel-consuming industries. Owing to this ripple effect, profit margins of structural insulated panel manufacturers, installers, and contractors have declined. The spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years.

By Product

Expanded Polystyrene (EPS) Panel Segment Dominate the Market in 2024

The Expanded Polystyrene (EPS) Panel segment made huge revenue in 2024 and growing its prominence during the forecast period. The EPS panels are mostly used for building exterior and interior walls. The demand for the product is high in commercial buildings, warehouses, sports arenas, etc., due to their fire-retardant properties. This factor makes these structural insulated panels more popular among architects & designers globally. Increasing demand for EPS in the construction of cold storage facilities due to constant thermal resistance and dimensional stability of EPS is expected to support market growth going ahead. The minimal water absorption and low vapor presence of EPS are other factors that make it an ideal choice for the construction of cold storage spaces. Rising demand for cold storage systems in food processing and pharmaceutical industries is expected to positively affect the growth of the market during the forecast period.

By Geography

North America Region is Leading in the Global Market Place

North America region is likely to have a huge demand in the forecast period, owing to the favorable regulatory guidelines and rising consumer awareness about energy conservation along with the government policies for GHG emissions reduction will provide a positive outlook for the regional growth. The U.S. is expected to remain the largest market. The increasing demand from residential & commercial sectors owing to their higher energy efficiency ratings will drive the growth of the market during the forecast period.

List of the Key Players Profiled in the Market Include:

• Cornerstone Building Brands
• DANA Group of Companies
• ITALPANNELLI SRL
• Jiangsu Jingxue Insulation Technology Co. Ltd
• Kingspan Group
• Manni Group SpA
• METECNO GROUP
• Multicolor Steels (India) Pvt. Ltd
• Nucor Building Systems
• Owens Corning
• PFB Corporation
• Premier Building Systems Inc.
• Rautaruukki Corporation
• Tata Steel
• Zamil Industrial

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others