Advanced Structural Insulation Market to See 8.3% Annual Growth Through 2023

Green Building Trends Driving Industry Expansion

April 16, 2019

WELLESLEY, Mass., April 16, 2019–A boom in green building and trends in the housing and commercial construction markets are factors driving growth of the advanced structural insulation market, according to a report by BCC Research.

The market expects to see a compound annual growth rate (CAGR) of 8.3% through 2023, when it could be worth $4.5 billion, according to the report “Advanced Structural Insultation: Global Markets to 2023.”

Major players in the market include Acme Panel, BASF Polyurethanes (BAS), CertainTeed (SGO), Dow Building Solutions (DOW), Johns Manville, and Owens Corning (OC).

Research Highlights

Structural insulated panels and insulated concrete forms will lead the market by size, with a 2018 value of $2.3 billion, followed by insulated concrete and insulated concrete block at $1.2 billion.
North America leads the structural insulation market by size, with a 2018 value of $1.4 billion, though the Asia-Pacific market leads by growth, with a CAGR through the period of 9.7%.
For structural insulated panels, Asia leads the market by growth, with a CAGR through 2023 of 5.1%, followed by North America at 4.4% and Europe at 2.9%.

“In today’s market, residential and commercial builders are faced with myriad options for improving building energy efficiency including high-performance insulation, energy efficient equipment, and a growing cadre of smart systems and controls,” notes report author Robert Eckard. “When seeking green building certification or simply higher energy efficiency construction, cost effectiveness and multiple benefits become critical factors in selecting energy efficient, green technologies.”

Drawbacks Include Capital Costs, Roofing Concerns

While structural insulation is widely lauded for its beneficial properties, there are several traits which may cause builders to choose other materials. Chief among those, the report notes, are capital costs. On a square foot basis, structural insulation costs about 30% more than off-the-shelf wood, metal, fiberglass, and other conventional elements. Meanwhile, the use of asphalt shingles over unvented SIP roofs will void many warranties, and SIPs have been found to reduce the life of a roof by about 10%.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Advanced Structural Insulation: Global Markets to 2023( AVM157A )
Publish Date: Mar 2019

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