Structural Insulated Panels Market Segmentation:
Application Segment Analysis
Based on application the wall segment is predicted to account for 46% share of the global structural insulated panels market during the forecast period. The growing understanding of the financial benefits of utilizing effective building insulation is what is fuelling the growth in this industry. Wall insulation is one of the most crucial components to improve a building's energy efficiency. Together with wall insulation, floor insulation forms a protective envelope that stops heat from the outside environment from entering the building through conduction and convection radiation. This lowers the energy needed for the building's heating and cooling systems. US construction spending reached a total of USD 1.79 trillion in 2022.
Product Segment Analysis
Based on product, the polystyrene segment is predicted to account for 45% share of the global structural insulated panels market during the forecast period. The great demand for these products can be due to their cost-effectiveness and resilience to dust and moisture. Additionally, because of its sturdy and solid surface, polystyrene provides a higher degree of resistance to punctures and earthquake-proof qualities. Nonetheless, the polyurethane segment is anticipated to increase at the fastest rate. 10.59 million tons of expandable polystyrene (EPS) will be produced worldwide in 2021.
Facing Material (OSB, MgO Board)
Based on facing material the OSB segment is estimated to grow significantly and is expected to have about 66% market share during the forecast period. Large-scale OSB is commonly accessible and has undergone extensive testing as a material capable of supporting loads. It is widely used in the construction industry because of its exceptional load-bearing qualities. Furthermore, wood species that are underutilized, rapidly developing, and generally less expensive can be used to create OSB, this is an efficient use of raw materials.
Our in-depth analysis of the global market includes the following segments:
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Facing Material |
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Application |
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End-User |
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Insulation Material |
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Product |
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