Structural Insulated Panels Market growing at 6.5% CAGR to hit $600mn by 2024

SELBYVILLE, Del., July 12, 2018 /PRNewswire-iReach/ -- North America is expected to hold over 35% structural insulated panels market share by 2024. Escalating government regulations including EPA's Energy Star Home will drive regional industry size. Increasing preference for low maintenance building materials among manufactures likely to propel SIPs market. Rising energy security concern along with social awareness regarding efficient technologies will boost structural insulation panels industry size.

Global Structural Insulated Panels Market size is estimated to exceed USD 600 million by 2024. Growing demand for modern, energy-efficient and fast track building techniques will drive Structural Insulated Panels Market growth. Shifting trends toward green building construction to reduce energy consumption and global CO2 emissions will propel the product adoption rate. Factors such as ease of installation, sound proofing and light weight product properties will boost SIPs market size.

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EPS was valued over USD 180 million in 2016. High compatibility with oriented strand board, low vapor permanence and minimum water absorption are the key properties influencing EPS demand in SIPs. Easy availability, rigidness, low maintenance cost and lightweight features are major aspects likely to influence segment growth.

Residential sector dominated the Structural Insulated Panels Market share in 2016 and will witness over 6% CAGR up to 2024. Expansion of zero energy homes industry and affordable housing schemes supported by government will provide lucrative opportunity for industry manufactures. For instance, U.S. Department of Energy's (DoE's) planned to reduce residential energy consumption by supporting zero-energy homes development by 2020.

Commercial sector is projected to witness fastest growth over the projected time frame. Increasing necessity for high thermal insulation to reduce energy consumption in commercial buildings will propel segment demand. In addition, surge in electricity bills is anticipated to trigger product penetration rate. Rapid expansion of hotel chains, malls and hospitals will also boost SIPs market expansion.

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Global structural insulated panels market share includes ArcelorMittal, Isopan, Lattonedil, k Metecno, Romakowski, J-Deck Inc. and Nohara. Rising competition among organizations is resulting into several mergers & acquisitions, joint ventures and strategic alliances to enhance market share foothold. Other prominent industry participants include Foard Panel, Foam Laminates Future Building of America, ICS Eco-SIPs, T. Clear Corporation, Murus Company, and Eagle Panel Systems, Inc.

Chapter 3. Structural Insulation Panels Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1. Distribution channel analysis

3.3.2. Profit margin trends

3.3.3. Vendor matrix

3.3.3.1. Key manufacturers

3.3.3.2. Product portfolio

3.3.3.3. Global presence

3.4. Technology landscape

3.4.1. Production process

3.4.1.1. With polystyrene core

3.4.1.2. With polyurethane core

3.4.2. Upcoming production process trends

3.5. Raw material trends

3.5.1. Glass

3.5.2. Stone

3.5.3. Polystyrene

3.5.4. Polyurethane

3.5.5. Phenols

3.5.6. Polyisocyanurate

3.6. Global construction industry outlook, 2016

3.7. Current trend of green buildings

3.7.1. Energy efficiency of buildings with SIP

3.7.2. Comparative analysis SIP vs conventional construction methods

3.7.3. Environmental concerns & BioSIPs

3.7.4. Cost analysis SIP vs stick frame

3.8. Regulatory landscape

3.8.1. North America

3.8.2. Europe

3.8.3. Asia Pacific

3.8.4. Latin America

3.8.5. Middle East & Africa

3.9. Consumer buying behavior

3.9.1. Unmet needs

3.9.2. Social & cultural impact forces

3.9.3. Information search

3.9.4. Evaluation of alternatives

3.9.5. Purchase decision

3.9.6. Post purchase behaviour

3.10. Pricing analysis

3.10.1. Regional pricing

3.10.1.1. North America

3.10.1.2. Europe

3.10.1.3. Asia Pacific

3.10.1.4. Latin America

3.10.1.5. Middle East & Africa

3.10.2. Cost structure analysis

3.10.2.1. Material cost

3.10.2.2. Labor & manufacturing cost

3.10.2.3. Technology cost

3.10.2.4. R&D

3.10.2.5. Miscellaneous

3.11. Industry impact forces

3.11.1. Growth drivers, by region

3.11.1.1. North America

3.11.1.2. Europe

3.11.1.3. Asia Pacific

3.11.1.4. Latin America

3.11.1.5. Middle East & Africa

3.11.2. Industry pitfalls & challenges

3.12. Innovation & sustainability

3.13. Growth potential analysis, 2016

3.14. Competitive landscape, 2016

3.14.1. Market share analysis, 2016

3.14.2. Top players overview

3.14.3. Key investments

3.14.4. Key stakeholders

3.14.5. Strategy dashboard

3.15. Porter's analysis

3.16. PESTEL analysis

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