![]() Opportunity: Supportive building regulations These fluctuations, in turn, result in volatility of prices of finished products. Volatility in the prices of energy and crude oil leads to the fluctuations in the prices of the raw materials used for structural insulated panels (such as XPS and EPS). The main raw materials used in the manufacturing of structural insulated panels are EPS and XPS. Sudden increase or decrease in price affects the profit margin of manufacturers as well. Raw material and energy used in manufacturing structural insulated panels have volatile prices and the trend is set to continue during the forecast period. Restraint: Volatility in raw materials prices The increase in the demand for cold storage systems is expected to boost the application, and, in turn, the market for structural insulated panels. Cold storage is a vital element for several businesses such as food processing, food preparation, warehousing, and storage systems, as well as for pharmaceutical and retail solutions. Structural Insulated Panels Market Dynamicsĭriver: Increased demand for structural insulated panels for cold storage applicationsīeing a cost-effective, sustainable, and durable building system, the structural insulated panels are widely adopted and used in various end use industries for the construction of cold storage facilities. Due to the pandemic, the manufacturers are experiencing disruptions in their quarter or annual meetings & conferences. These conferences & other marketing strategies are a vital part of the SIPs market and help in promoting the use of SIPs in the construction industry. The structural insulated panels market is in the ‘growth stage’, and requires timely meetings, quarter/annual conferences, and market programs. The global structural insulated panels market is expected to witness a minimal decrease in its growth rate in 2020-2021. To know about the assumptions considered for the study, Request for Free Sample Report COVID-19 impact on global structural insulated panels market Growth in adaptation of construction of green & energy-efficient buildings and demand for structural insulated panels for cold storage applications, are likely to support the growth of the structural insulated panels market during the forecast period. The structural insulated panels market is projected to reach USD 517 million by 2025, at a CAGR of 5.0%. The structural insulated panels market is expected to witness significant growth in the future due to its increased demand in residential and commercial construction. ![]()
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