GCC Structural Insulated Panels Market

GCC Structural Insulated Panels Market Size, Share, Growth Analysis, By Product(Polystyrene, Polyurethane), By Application(Walls & Floors, Roof and Cold Storage) - Industry Forecast 2024-2031

Report ID: SQMIR20C2095 | Region: Regional | Published Date: February, 2024
Pages: 249 | Tables: 62 | Figures: 75

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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).

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. '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)'

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.

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%.

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.

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