Rise in demand of green building for lowering the energy consumption and development of cold storage infrastructure factors drives growth.

WILMINGTON, DELAWARE, March 4, 2024 /EINPresswire.com/ — A recently published Allied Market Research report on the global structural insulated panels market indicates that the industry is expected to garner $786.6 million by 2030. The report is an excellent source of market dynamics, opportunity, segmentation, competitive scenario, regional analysis and futuristics trends. Structural insulated panels, also known as structural insulating panels, are used as structural components in walls, roofs, and floors for residential and light commercial constructions. They also provide strength, superior insulation to roofs, and reduce construction waste.

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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Market dynamics:

The development of the structural insulated panels market is mainly driven by several factors. One of the major factors is the stringent building codes and regulations promoting energy efficiency, which is expected to fuel the market growth. In addition, rise in concern regarding environmental sustainability is expected to increase the adoption of structural insulated panels, thereby reducing carbon footprint and waste compared to conventional construction methods.

However, high initial investment of structural insulated panels is anticipated to hinder the market development. In addition, lack of awareness about the benefits of structural insulated panels among developers and architects is projected to hamper their worldwide adoption, preventing the market expansion in the coming years.

On the contrary, leading players in the market are focused on R&D activities to create new materials for structural insulated panels that further enhance their durability and sustainability, opening new avenues for market growth during the forecast period. In addition, existing buildings are renovated and retrofittedto improve energy efficiency and performance, which is expected to fuel the demand for structural insulated panels in the upcoming years.

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Futuristic trends in the structural insulated panels market:

Robotics and Automation:

The widespread adoption of structural insulated panels across various sectors has encouraged architects, developers, and house owners to utilize automation and robotic technology to upgrade the manufacturing processes. Implementation of robotics and automation in structural insulated panels manufacturing processes to improve efficiency, scalability, and durability, resulting in reduced labor costs and increased production.

Green Building:

Rise in awareness regarding the benefits of structural insulated panels in green building construction is expected to fuel in coming years. In addition, the government effects on green building rules and standards for the usage of building insulation materials to reduce overall energy consumption and increase in costs for constructing a cold chain infrastructure, are projected to boost the market growth in the future.

Segmentation analysis:

The report provides an extensive breakdown of the global structural insulated panels market based on application, product type, end user, and region. By product type, the market is classified into polystyrene, polyurethane panels & polyisocyanurate panels, glass wool, and others. By application, the market is segmented into walls & floors, roofs, and cold storage. By end user, the structural insulated panels market is bifurcated into residential and non-residential.

Regional analysis:

The global structural insulated panels market report covers 4 regions including Asia-Pacific, Europe, LAMEA, and North America. This examination also provides driving forces and revenue estimations of the market in these regions.

Competitive scenario:

The global structural insulated panels market report gives a comprehensive analysis of leading players. It also addresses several strategies adopted by these key players to sustain the market competition. These strategies are partnerships, collaborations, acquisitions, mergers, and innovative product launches. The prominent market influencers profiled in the report include Owens Corning PFB Corporation, Rautaruukki Corporation, Premier Building System, ACME Panels, American Insulated Panel, T. Clear Corporation, Extreme Panel Technologies, Inc., and InGreen Systems.

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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 Question covered in the report:

What are key trends in the global structural insulated panels market?
What is the total market value of the global structural insulated panels market?
How the company profile has been selected?

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Allied Market Research
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