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

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.