The global structural insulated panels market size was valued at USD 11.17 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. Favorable green building standards and regulations for the adoption of building insulation materials for lowering the overall energy consumption coupled with the growing investments in the development of cold chain infrastructure across the world are the key factors that are expected to drive the market. Structural insulated panels (SIPs) are expected to gain wide acceptance globally as they are lightweight, have a better external appearance, and can improve the thermal performance of buildings. In the U.S., as per the Federal Energy Policy Act 2005, a tax credit of up to USD 2,000 is provided for builders of new energy-efficient homes that are constructed as per the standards of Federal Manufactured Homes Construction and Safety Standards.

In 2020, the polystyrene product segment led the U.S. structural insulated panels market owing to robust insulation property and cost-effectiveness of polystyrene. Growing investments in the renovation of old building structures are expected to drive future product demand within the U.S. market. Structural insulated panels are widely used in the construction of warehouses owing to their ability to reduce the overall construction time. The growth of the e-commerce industry is generating a huge demand for warehouses and last-mile delivery hubs. In addition, the establishment of local data centers by major technology companies, such as Amazon, Alibaba, Google, and Microsoft, is projected to have a positive impact on the market growth.

Gather more insights about the market drivers, restrains and growth of the Global structural insulated panels market

Structural Insulated Panels Market Segments Highlights:

• Polystyrene led the market and accounted for more than 72.0% share of the global revenue in 2020 and will retain the leading position throughout the forecast period. This growth can be credited to high demand for these products due to their cost-effectiveness and dust & moisture resistance.
• These panels are widely preferred in the insulation of cold chain storages owing to their superior thermal insulation and vapor diffusion resistance properties.
• The glass wool segment is expected to grow at a CAGR of 5.8% over the forecast period owing to superior thermal insulation, fire resistance, and noise insulation properties of glass wool.
• Walls & floors led the market and accounted for more than 46.0% share of the global revenue in 2020. Growing awareness about the economic advantages of installing effective building insulation is driving the segment growth.
• SIPs find application in walls, ceilings, and roofs for cold storage, freezers, and food processing buildings and can also be retrofitted to the existing controlled environment structures, such as dry warehouse, where maintaining temperature and insulation values is of immense importance.
• North America dominated the market and accounted for over 38.0% share of global revenue in 2019. Increased demand from the residential sector, extensively developed cold chain and logistics industry, and the government initiatives to develop social infrastructure are some of the major factors responsible for the market growth in North America.
• The Asia Pacific is expected to be the fastest-growing regional market due to the rapid growth of the residential and commercial construction sectors and the adoption of various green building standards.
• The Middle East and Africa is expected to register a significant CAGR over the forecast period. The region imports majority of its food products from overseas owing to the dry climate and lack of rainfall.

Browse through Grand View Research's Green Building Materials Industry Research Reports.

• Green Cement Market: The global green cement market size was valued at USD 31.2 billion in 2023 and is projected to grow at a CAGR of 4.2% from 2024 to 2030.
• Polymer Concrete Market: The global polymer concrete market size was estimated at USD 576.8 million in 2023 and is projected to grow at a CAGR of 6.2% from 2024 to 2030.

Structural Insulated Panels Market Segmentation

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

Structural Insulated Panels Product Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)

• Polystyrene
• Polyurethane
• Glass Wool
• Others

Structural Insulated Panels Application Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)

• Walls & Floors
• Roofs
• Cold Storage

Structural Insulated Panels Regional Outlook (Volume, Million Square Feet; Revenue, USD Million, 2017 - 2028)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa (MEA)
  • UAE

Order a free sample PDF of the Structural Insulated Panels Market Intelligence Study, published by Grand View Research.