Structural Insulated Panels Market Regional Analysis:
North American Market Insights
Structural insulated panels market in the North America region is anticipated to hold the largest revenue share about 38% during the forecast period. The region's expansion is attributed to several factors, including an expanding tendency in multi-family construction, a well-developed cold chain industry, and government measures to improve the flow of funding into infrastructure development. As more people become aware of the advantages of building insulation, the market is anticipated to expand in the upcoming years. The Infrastructure for Rebuilding America (INFRA) program will grant 24 projects across 18 states with a total of USD 905.25 million in discretionary financing, according to a July 2021 announcement made by the USDOT Secretary.
APAC Market Insights
Structural insulated panels market in the Asia Pacific region is attributed to hold the second largest share of about 25% during the forecast period. This expansion has been facilitated by the quick development of the residential and commercial building industries as well as the adoption of various green building standards. With Osaka serving as the host city for the 2025 World Expo, the Japanese construction sector is anticipated to do well. The new 61-story, 390-meter-tall office tower will be finished in 2027, and Yaesu's renovations will conclude in 2023.
