LOS ANGELES, Jan. 07, 2020 (GLOBE NEWSWIRE) -- The global structural insulated panels (SIP) market is expected to reach the market value of around US$ 500 Mn by 2026 and is anticipated to grow at a CAGR of more than 4.5% in terms of revenue during the forecast period 2019-2026.
The main market drivers involved are the increasing demand from the building sector and the growing application of cold storage. Advancements in building technologies such as modular construction techniques are expected to hinder the growth of the market studied. Increasing demand for buildings is the key trend observed in this market. In specific, structural isolated wall panels are available in 11 cm and 16 cm thick.
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Curved wall panels can be manufactured and stub framing for non-orthogonal geometries is typically much more convenient. Currently, the entire R-value wall of a wall montage is the best and most successful method for measuring total thermal output. Thermal bridge elimination and more airtight walls contribute to the improved R-value of rigid insulated wall panels in contrast to regular metal and wood clamp walls. Compared to the volume of panels which are used as structural, isolated wall panels, the total volume is significantly higher.
Speedy innovations and technological development in the construction sector drives the global structural insulation panel market. The respective engineering consists of several building systems, especially designed to be prefabricated, precast, and modular. In turn, the development of the market should encourage growing populations together with increasing customer perceptions on energy-conserving building materials.
Regional Insight
In 2018 the region of North America dominated the global market share. The building industry around the world has been unlike in recent years. An increase has been observed in the private construction spending over the years. Most market leaders are projected to integrate in the future. Owing to the presence of numerous players in this market, the SIP market is projected to be highly fragmented.
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Key Takeaways
- Main factors supporting the demand for structural insulation panels include substantial reduction in wall construction and working costs.
- The most significant gains from 2019 to 2026 is expected from the floors segment by application.
- Comfortable flooring construction and rising pier foundations & sunrooms tastes will boost the business expansion.
- The increased demand for comfortable floors with unvented features will boost the size of the industry.
Key Players
Key players in this market comprise of Alubel SpA, ArcelorMittal, BALEX-METAL, DANA Group of Companies, Isopan (Manni Group SpA), Italpannelli SRL, Jiangsu Jingxue Insulation Technology Co. Ltd, Kingspan Group, Marcegaglia SpA, Metecno, Multicolor Steels (India) Pvt Ltd, NCI Building Systems, Nucor Building Systems, Owens Corning, PFB Corporation, Premier Building Systems, Rautaruukki Corporation, Tata Steel Europe Limited, Zamil Steel Pre-Engineered Buildings Co. Ltd.
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