Structural Insulated Panels (SIPs) Market: Overview
Structural insulated panels (SIPs) are high performance building systems used in residential and light commercial constructions. Structural insulated panels is a structured composite consisting of insulating layer of structured boards. It takes the form of sandwich panel. Structural insulated panels are widely used in the construction industry. These are engineered panels used to construct ceilings, walls, and floors. Structural insulated panels is an ideal substitute for conventional construction methods such as framing lumber and insulation.
Structural insulated panels usually consist of a rigid foam insulation layer sandwiched between two structural skin surfaces such as oriented strand board (OSB). These panels are manufactured in various sizes or dimensions, with thicknesses ranging from four inches to eight inches. Structural insulated panels can also be manufactured in larger sizes for custom work, but these larger panels require a crane for installation. They are also used for interior sheathing and can be custom-tailored as per the requirement. Structural insulated panels can handle dead loads of about 10 pounds per square foot and live loads up to 70 per square foot. They are used in roofs, walls, and floors and can extend up to 18 feet with no additional support. Thus, demand for structural insulated panels is expected to increase rapidly during the forecast period.
Structural insulated panels are produced in a horizontal heated press. The oriented strand board facing material is pre-set into a restraining foaming jig, which is then clamped by a press. Foam is then injected into the cavity between the two oriented strand board faces. After the injection cycle ends, the foam starts to react and expand flowing through the cavity to reach a complete fill. Thus, construction of a building takes less time compared to conventional buildings.
Structural Insulated Panels (SIPs) Market: Key Segments
Based on type, the structural insulated panels market can be segmented into expanded polystyrene insulated panels, polyurethane insulated panels, compressed straw-core insulated panels, and others. Most structural insulated panels are manufactured using expanded polystyrene (EPS) foam board insulation, a closed-cell type of insulation. It has an R-value of R-4 to R-5 per inch of thickness. Total R-value for these panels can be as high as 13.8. Expanded polystyrene panels are available in sizes ranging between 4 feet and 24 feet in width. Polyurethane insulated panels have a nominal R-value of around R-6 to R-7 per inch of thickness. These panels are usually manufactured as 3.5-inch-thick panels for walls, and panels up to 7.5 inches thick for ceilings. This type of structural insulated panels is more expensive than expanded polystyrene panels, but it is more resistant to water and fire and has a higher R-value. Compressed straw-core insulated panels are ‘greener’ than other types of structural insulated panels, as they are manufactured using renewable and recycled waste agricultural straw. High demand for eco-friendly construction materials is anticipated to boost the compressed straw-core segment during the forecast period.
Based on end-user, the structural insulated panels market can be bifurcated into commercial and residential. Rapid penetration of advanced building technology and growth in infrastructure activities in developing economies are driving the structural insulated panels market. Furthermore, favorable government schemes supporting green building construction in China, India, South Korea, Brazil, Malaysia, and Turkey are anticipated to fuel the structural insulated panels market.
Structural Insulated Panels (SIPs) Market: Regional Outlook
Based on region, the global structural insulated panels market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific holds major share of the global market due to the rise in infrastructure activities and government initiatives for green construction in developing economies in the region. The structural insulated panels market in North America is anticipated to expand at a significant pace during the forecast period. The market in Europe is projected to expand at a substantial pace from 2018 to 2026 due to the increase in demand for green construction owing to the implementation of stringent government regulations for eco-friendly construction products. Latin America and Middle East & Africa are estimated to account for key share of the global structural insulated panels market by the end of the forecast period owing to the growth in residential and commercial buildings in these regions.
Structural Insulated Panels (SIPs) Market: Key Players
Major players operating in the global structural insulated panels market include Dana Group., The Murus Company, Eagle Panel Systems, Inc., and Kingspan Group. Manufacturers are engaged in strategies such as agreements and joint ventures in order to maintain a strong foothold in the market and meet the rising demand from consumers.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.