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Americas Structural Insulated Panel Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2020 - 2027

Americas Structural Insulated Panel Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2020 - 2027

  • September 2020
  • 102 pages
  • ID: 5976446
  • Format: PDF
  • Grand View Research

Summary

Table of Contents

Americas Structural Insulated Panel Market Size, Share & Trends Analysis Report By Product (EPS, XPS), By Application (Cold Storages, Building Walls), By Region (North America, Central & South America), And Segment Forecasts, 2020 - 2027

Americas Structural Insulated Panels Market Growth & Trends

The Americas structural insulated panels market size is expected to reach USD 3.9 billion by 2027 registering a CAGR of 3.5%, according to a new report. Increasing demand for insulation materials in residential and non-residential applications on account of rising energy costs and the growing importance of energy conservation is expected to drive the market.

Initiatives undertaken by the U.S. government through the Weatherization Assistance Program (WAP) to promote thermal insulation in low-income households through federal funding are expected to fuel the market growth further. Funding by the U.S. Department of Energy to develop highly efficient insulation foams will further augment the market growth.

Growing awareness about energy conservation and rising demand for energy-efficient buildings are also likely to boost industry growth over the forecast period. Rising consumer spending capacities are projected to benefit the construction industry, which, in turn, will fuel the demand for structural insulated panels.

The market is highly competitive owing to the presence of both regional and multinational companies.New product development and competitive pricing are some of the key strategies used by manufacturers to strengthen their market position.

Most of the companies also offer additional services, such as engineering & technical advisory and installation assistance, to gain a competitive edge.

Americas Structural Insulated Panels Market Report Highlights
• In Mexico, the cold storages application segment is expected to register the fastest CAGR of 5.1% over the forecast period on account of rising investments in the development of cold chain infrastructure in the country
• In 2019, the revenue for rigid polyurethane segment in the North America region stood at USD 176.2 million owing to its superior thermal insulation property, rigidity, fire resistance, and dimensional stability
• In Colombia, the structural insulated panels market is anticipated to reach USD 242.2 million by 2027, on account of growing product adoption in the construction of energy-efficient housing structures in the country
• In Central & South America, the extruded polystyrene (XPS) segment is expected to grow at a CAGR of 3.1% over the forecast owing to its high compression strength, moisture resistance, and high functionality in challenging environments
• Manufacturers are investing in R&D to develop lightweight, durable hybrid insulation materials that are easy to install

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