Structural Insulated Panels Market to Perceive Substantial Growth During 2018 - 2026

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.

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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.

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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.

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