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Structural Insulation Panels Market is projected to gain a significant growth through rise in demand for building green homes; Kingspan Group, ACME PANEL, Insulspan Inc., Isopan are Leading Players

Author : Rahul Varpe | Published Date : 2019-04-10 

Global Market Insights provides a detailed overview of Structural Insulation Panels market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Structural Insulation Panels market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The deployment of Structural Insulation Panels (SIPs) has apparently proved beneficial not only for saving energy and reducing waste but also for saving up extensively on construction costs, thereby stimulating structural insulation panels industry outlook. In a study conducted by BASF, it was demonstrated that residential builders can reduce their farming labor requirements by 55% with the use of structural insulated panels.

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The prefabricated nature of structural insulation panels eliminates on-site construction and they only require to be hoisted into place with the help of a crane, making SIP house installation 25% faster than benchmark houses. Prefabrication also resulted in jobsite debris disposal reduction by 93%. The study categorically depicts that the ongoing requirement of optimizing construction costs would act as a major driving force for structural insulation panels market.

In light of the environmental safety and cost effectiveness offered by structural insulation panels, it is rather justified that organizations such as the EPA are supporting their increased deployment. Backed by governmental initiatives such as tax incentives, structural insulation panels market trends are certain to undergo a positive transformation in the years ahead. The high R-value and low air leakage are making structural insulation panels more preferable than traditional framed construction. Aided by stringent regulations regarding environmental conservation, structural insulation panels market size is anticipated to exceed USD 590 million by 2024.

Major players in Structural Insulation Panels Market includes:

  • Kingspan Group
  • ACME PANEL
  • Foam Laminates
  • Foard Panel Inc.
  • ICS Eco-SIPs
  • Insulspan Inc.
  • Isopan
  • METECNO
  • T Clear Corporation

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The relentless pursuit for green and energy saving solutions has led structural insulation panels market to gain substantial acclaim in the recent years, specifically from the construction sector. With the rise in global population and increasing demand for accommodation, volumetric construction is becoming a major necessity.

With the future of the planet under the threat of drastic climate change, not only volumetric construction but the demand for ecofriendly construction has gained significant traction. In line with the Paris Agreement, the construction industry is now focusing on building ‘zero energy homes’, the chief concept that is expected to propel structural insulation panels market share.

Another factor that has made structural insulation panels an increasingly popular choice among the advocates of green buildings is the ecofriendly characteristic of their components that mainly comprise oriented strand board (OSB) and expanded polystyrene (EPS). Since OSB is made of inexpensive wood species grown in managed forests and EPS is a lightweight insulation material made of air and only 2% plastic, these core materials have been massively used for SIP production. EPS in fact, uses pentane that is a non-CFC blowing agent and the energy it saves will offset the costs of the petroleum that was spent in manufacturing. Driven by lowered CO2 emissions and reduced energy consumption, EPS-based SIP market size is anticipated to register a CAGR of 7% over 2018-2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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