According to this report, the structural insulated panel market was estimated at USD 11.75 billion in 2021 and is likely to grow at a CAGR of 5.6% during 2022-2028 to reach USD 17.27 billion in 2028.

The prime factor contributing to the growth of the structural insulated panel market is the rising demand from the construction sector and cold storage applications.

Structural Insulated Panels (SIPs) are a type of sandwich panel which is used in the construction industry. It is a sandwich-structured composite that consists of an insulating layer of a rigid core and two layers of structural board. The insulation layer is sandwiched between the two structural board layers. It is used as a building material.

COVID-19 IMPACT

Many construction activities were halted to curb the spread of the Covid-19 virus, this resulted in disruption of the value chain of the construction industry. This resulted in a decline in demand for the structural insulated panel market.

Key Players

• Alubel SpA
• Dana Group Plc
• Hemsec Manufacturing Ltd
• Kingspan Group
• Owens Corning Insulating Systems LLC
• PFB Corporation
• Premier Building Systems
• Rautaruukki Corporation
• Sips-Panels UK
• SuperSIPs Ltd.

Market Features

This report on the Structural Insulated Panel Market is one of the important tools with the help of which the users can obtain a well perspective and understanding of the target market and customer. The details in the report cover Covid19 impact on the market and also predict how long will it take to recoup which aids in reducing business failures.

-        Trend analysis, pricing, and competitive analysis are some of the vital factors covered in this report.

-        This report consists of an in-depth analysis of the market to help businesses in improving decision-making.

-        Structural Insulated Panel Market report aims at evaluating future sales as well as trends for the prediction period of 5 years.

-        This report helps to keep the users updated with key changes that take place in the present market.

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