Americas Structural Insulated Panel Market Is Registering A CAGR Of 7.7% Over The Forecast Period

 Americas Structural Insulated Panel Industry Overview

The Americas structural insulated panel market size is expected to reach USD 4.27 billion by 2028 registering a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. Favorable regulations and rising adoption of various green building standards are some of the key factors driving the market growth. Rising spending in the construction sector in North America due to the increasing government initiatives for the modernization of the infrastructure and energy-efficient homes and the rising number of green buildings in the U.S. and Canada is projected to drive the product demand.

 

Many market players are engaged in manufacturing and supplying raw materials and creating strong competition, affecting the overall pricing of the structural insulated panels (SIPs). The presence of several raw material manufacturers in the market results in low prices of these materials. Some of the key companies are also engaged in installation through their network of certified contractors and installers. Investments, new product development, and regional expansion are the key strategies adopted by the market players to strengthen their industry position. However, fluctuations in raw material prices and the adverse impact of the Covid-19 pandemic are expected to emerge as key concerns for the industry participants.

 

Americas Structural Insulated Panel Market Segmentation

Grand View Research has segmented the Americas structural insulated panel market on the basis of product, application, and region:


Based on the Product Insights, the market is segmented into Expanded Polystyrene (EPS), Polyurethane, Glass Wool, and Extruded Polystyrene (XPS).

  • SIPs are used to construct buildings to decrease the overall energy consumption of the building and regulate the temperature in the interiors, thereby making the building more sustainable. The selection of insulation material is the primary factor responsible for increasing the energy efficiency of building systems.

 

  • Metal sheets are emerging as a preferred facing material owing to their durability, fireproof property, and superior surface finish. Moreover, insulated metal panels are available in various colors, thus making them suitable for direct application on building exteriors. The most commonly used metal substrates include galvanized steel, stainless steel, aluminum-zinc coated steel, and aluminum.

 


Based on the Application Insights, the market is segmented into Walls & Floors, Roofs, and Cold Storage.

  • The walls and floors application segment led the market and accounted for over 45% of the total revenue share in 2020. The segment will expand further at the fastest CAGR from 2021 to 2028 owing to the burgeoning demand for SIPs and growing investments for the establishment of commercial structures and institutional buildings, such as schools, hospitals, theaters, malls, and hotels.

 

  • Temperature regulated by insulated roofs leads to improvement in buildings’ energy efficiency through a reduction in usage of air conditioning systems and heaters. Such benefits are projected to drive the market growth over the forecast period. Other applications include cold storage applications.

 

Americas SIP Regional Outlook

  • North America
  • Central & South America

 

Key Companies Profile & Market Share Insights

The market is highly competitive owing to the presence of both regional and multinational players. New product development and competitive pricing are some of the manufacturers’ key focus areas to strengthen their industry positions. In addition, many companies offer additional services, such as engineering & technical advisory and installation assistance, to enhance their customer base. Major players invest in research and development activities and continuously launch new products to gain a competitive edge.

Recent Developments

  • In June 2022, Kingspan announced an investment of 210 million Euros in a Building Technology Campus located in Ukraine. This new plant will manufacture advanced insulation and heating solutions
  • In February 2022, Kingspan Group announced the acquisition of Troldtekt A/S. The development will facilitate Kingspan’s entry into the natural materials space
  • In December 2021, PFB Corporation announced its acquisition by the Riverside Company. This acquisition will assist in the further growth of PFB Corporation

Some prominent players in the Americas structural insulated panel market include:

  • Kingspan Group
  • Metl-Span
  • Owens Corning
  • Metecno Group
  • KPS Global
  • Isopan
  • PFB Corporation
  • All Weather Insulated Panels
  • Green Span Profiles
  • American Insulated Panel Company
  • American Buildings Company
  • Ingreen Systems Corp.
  • Structural Panels Inc.

 

Order a free sample PDF of the Americas SIP Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

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Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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