USD 65.35 million
GCC Structural Insulated Panels Market Size, Share, Growth Analysis, By Product(Polystyrene, Polyurethane, Glass Wool and Others), By Application(Walls & Floors, Roof and Cold Storage), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR20C2095 |
Region:
Regional |
Published Date: February, 2024
Pages:
249
|Tables:
62
|Figures:
75
GCC Structural Insulated Panels Market Insights
GCC Structural Insulated Panels Market size was valued at USD 65.35 million in 2019 and is poised to grow from USD 69.51 million in 2023 to USD 112.02 million by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).
Structural insulated panels (SIPs) are a rapidly evolving building method with important qualities and unique features for construction enclosures. The demand for sensible and affordable private housing alternatives is growing, and supportive government policies and programmes that encourage the development of green buildings are propelling the structural insulated panel market. The development of cold storage systems for the food and beverage industry as well as the requirement for superior, durable building systems with eco-friendly features are driving the market's growth in the years to come.
The market growth is being constrained by high raw material costs, tight raw material regulations, and advancements in building technologies including modular construction methods. The structural insulated panel market is predicted to grow favourably as a result of its increased cost, greater protection, and lightweight features. The key obstacles to the structural insulated panel market's growth in the near future are their high product and shipping expenses.
The market growth is being constrained by high raw material costs, tight raw material regulations, and advancements in building technologies including modular construction methods. The structural insulated panel market is predicted to grow favourably as a result of its increased cost, greater protection, and lightweight features. The key obstacles to the structural insulated panel market's growth in the near future are their high product and shipping expenses.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Polystyrene
Fastest Growth
Polyurethane
Growth Rate
6.4% CAGR
GCC Structural Insulated Panels Market 2021-2028 ($ Bn)
Country Share for GCC Region- 2021 (%)
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GCC Structural Insulated Panels Market Segmental Analysis
GCC Structural Insulated Panels Market is segmented based on the Product, Application and region. Based on Product, the market is segmented into Polystyrene, Polyurethane, Glass Wool and Others. Based on Application, the market is segmented into Walls & Floors, Roof and Cold Storage.
GCC Structural Insulated Panels Market Analysis by Product
Based on Product, polystyrene was the market leader and accounted for high revenue. It will continue to hold the top spot throughout the forecast period. Due to their affordability and resilience to dust and moisture, these products are in high demand. Additionally, polystyrene's robust and durable surface gives greater levels of puncture resistance and earthquake proof functionality.
It is predicted that from 2022 to 2028, the polyurethane segment would see the fastest CAGR. Comparatively more expensive than other product kinds like polystyrene and glass wool are polyurethane structural insulated panels. Due to their outstanding thermal insulation and vapour diffusion resistance qualities, these panels are frequently used to insulate cold chain storages. Thus, throughout the course of the projected period, product demand is anticipated to be driven by the increasing emphasis on the development of cold chain infrastructures. Due to its exceptional thermal insulation, fire resistance, and noise insulation qualities, glass wool is predicted to expand at high CAGR throughout the projection period.
GCC Structural Insulated Panels Market Analysis by Application
Based on Application, Walls and floors dominated the market and generated more money globally. The category is expanding as a result of rising public knowledge of the financial benefits of implementing effective building insulation. One of the key components to improving a building's energy efficiency is wall insulation. A protective envelope is created by insulated walls and floors, which prevents heat transmission from the outside environment through conduction and convection radiation and lowers the energy needed to heat or cool a building structure. The item's exceptional structural strength and insulating qualities account for its widespread use in the cold storage sector. SIPs can be adapted to existing controlled environment structures, such as dry warehouses, where maintaining temperature and insulation values is of utmost concern. These structures include cold storage, freezer, and food processing buildings. For the creation of cold chain infrastructure to ensure the safety of the Covid-19 vaccines and enable efficient last-mile delivery, the recent worldwide pandemic has generated a sizable product demand.
GCC Structural Insulated Panels Market By Product 2021 (%)
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GCC Structural Insulated Panels Market Regional Insights
UAE dominated the market and generated more revenue. Some of the key drivers behind the market expansion in UAE include rising residential demand, a highly developed cold chain and logistics sector, and government programmes to build social infrastructure. In the upcoming years, rising consumer awareness of the advantages of building structure insulation is anticipated to drive the market. Due to the rapid expansion of the residential and commercial construction industries and the adoption of various green building standards, the Saudi Arabia, is anticipated to have the quickest rate of regional market growth.
GCC Structural Insulated Panels Market By Geography, 2021-2028
- Largest
- Fastest
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GCC Structural Insulated Panels Market Dynamics
GCC Structural Insulated Panels Market Driver
- Structural insulated panels are a widely used building material for cold storage facility construction because they are affordable, environmentally friendly, and long-lasting. For many industries, including food processing, food preparation, warehousing, and storage systems, as well as pharmaceutical and retail solutions, cold storage is an essential component. The market is anticipated to grow as a result of the rise in demand for cold storage systems.
GCC Structural Insulated Panels Market Restraint
- Prices for the energy and raw materials used to make structural insulated panels are erratic, and this tendency is expected to persist during the projected period. Price fluctuations that occur suddenly have an impact on manufacturers' profit margins as well. EPS and XPS are the primary raw materials utilised in the production of structural insulated panels. The price changes of the raw materials required to make structural insulated panels are caused by the volatility in the prices of energy and crude oil (such as XPS and EPS). The pricing of finished goods also fluctuates as a result of these changes.
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GCC Structural Insulated Panels Market Competitive Landscape
GCC Structural Insulated Panels Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
GCC Structural Insulated Panels Market Top Player's Company Profiles
- Emirates Building Systems Co LLC (UAE)
- TSSC Group (UAE)
- Gulf Precast Concrete Company LLC (UAE)
- RMD Board LLC (UAE)
- Delta Panels (UAE)
- Polycon Gulf Ltd. (UAE)
- Thermeco Insulation Industries LLC (UAE)
- Siporex Middle East LLC (UAE)
- Emirates Panel Manufacturer LLC (UAE)
- Saudi Panel Co. (Saudi Arabia)
- Qatari Saudi Company for Precast Concrete (Qatar)
- Gulf Panel LLC (Oman)
- National Precast Concrete Association (Bahrain)
- Balex Metal LLC (UAE)
- Alubond USA LLC (UAE)
- Cladtech International LLC (UAE)
- Diatec (UAE)
- Insulated Panels Factory (Bahrain)
- Emirates Insolaire LLC (UAE)
- Al Basma Al Beeiya (UAE)
GCC Structural Insulated Panels Market Recent Developments
- In December 2021, the Riverside Company ("Riverside") and PFB Corporation announced the completion of the acquisition of PFB by an affiliate of Riverside. PFB Corporation will run the business with the same network under Riverside.
GCC Structural Insulated Panels Key Market Trends
- Developers are urged to stay up with the technologies that can produce energy-efficient buildings since regulations governing commercial properties are becoming more stringent. Builders have struggled to meet energy efficiency and CO2 emission targets due to strict building restrictions. Due to this, building contractors are now required to use structural insulated panels, which can assist to cut heating and cooling expenses by up to 40%.
GCC Structural Insulated Panels Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our GCC Structural Insulated Panels Market analysis, in terms of product, the Polystyrene segment held larger market share owing to rising demand. And in terms of application, the Walls & floors segment dominates the market due to growing awareness about the economic advantages. Moreover, the increased need for structural insulated panels for uses in cold storage can drive market growth. Whereas, the volatility in raw materials prices can hamper the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 65.35 million |
| Market size value in 2031 | USD 112.02 million |
| Growth Rate | 6.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on GCC Structural Insulated Panels Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on GCC Structural Insulated Panels Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the GCC Structural Insulated Panels Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the GCC Structural Insulated Panels Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the GCC Structural Insulated Panels Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the GCC Structural Insulated Panels Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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