The Philippines Structural Insulated Panels Market size is estimated at USD 1.01 million in 2024, and is expected to reach USD 1.26 million by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19. The country went into lockdown due to the pandemic, which led to work stoppages, supply chain disruption, and labor shortages. All the construction activities were put on hold, which had a negative impact on the market. However, the condition recovered in 2021 and 2022, driving the market during the forecast period.
The Philippines Structural Insulated Panels Market is partly consolidated, with the top players (not in any particular order) accounting for a major portion of the total market share. The major companies include Ultra Insulated Panel Systems Corporation, VBLLU INC., iSTEEL, Metalink, and Union Galvasteel Corporation, among others.
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