The global Structural Insulated Panels (SIPS) market is predicted to meet USD 749.33m by 2032, according to Emergen Research
The growth in the Structural Insulated Panel (SIPS) market can be attributed to government initiatives and regulations for improved energy efficiency in commercial and residential buildings.
Growth in the SIPS market can also be attributed to strict government regulations regarding greenhouse gas emissions.
What are the benefits of SIPS?
- Energy saving
- Do not emit greenhouse gases over the life of the building
- High-performing insulation
- Weatherproof
- Sustainable
- Flexible design.
Increasing demand for EPS is expected to support market growth
The minimal water absorption and low vapour permeance of EPS (Expanded Polystyrene panel segment) are other factors that make it an ideal choice for the construction of cold storage spaces.
Demand for cold storage systems in food processing and pharmaceutical industries is expected to positively affect the market growth of structural insulated panels during the forecast period.
Key players in the SIPS industry
The report also revealed the key players across the Structural Insulated Panels industry who account for most of the market share.
Companies are focusing on strategic expansion into untapped markets and on research and development initiatives to develop new and enhanced panel systems to secure and maintain a robust position in the market.
The prominent players operating in the market are:
- Kingspan Group
- PFB Corporation
- Owens Corning
- Premier SIPS: Structural Insulated Panels
- Enercept, Inc.
- Extreme Panel Technologies
- T. Clear Corporation
- ALUBEL SPA
- Foard Panel
- Acme Panel.
