Canada Structural Insulated Panels Market Size & Outlook

The structural insulated panels market in Canada is expected to reach a projected revenue of US$ 397.2 million by 2028. A compound annual growth rate of 8.4% is expected of Canada structural insulated panels market from 2021 to 2028.
Revenue, 2020 (US$M)
$207.7
Forecast, 2028 (US$M)
$397.2
CAGR, 2021 - 2028
8.4%
Report Coverage
Canada

Canada structural insulated panels market highlights

  • The Canada structural insulated panels market generated a revenue of USD 207.7 million in 2020 and is expected to reach USD 397.2 million by 2028.
  • The Canada market is expected to grow at a CAGR of 8.4% from 2021 to 2028.
  • In terms of segment, polystyrene was the largest revenue generating product in 2020.
  • Other Products is the most lucrative product segment registering the fastest growth during the forecast period.


Structural insulated panels market data book summary

Market revenue in 2020USD 207.7 million
Market revenue in 2028USD 397.2 million
Growth rate8.4% (CAGR from 2020 to 2028)
Largest segmentPolystyrene
Fastest growing segmentOther Products
Historical data2017 - 2019
Base year2020
Forecast period2021 - 2028
Quantitative unitsRevenue in USD million
Market segmentationPolystyrene, Polyurethane, Glass Wool, Other Products
Key market players worldwideNucor Corp, Kingspan Group PLC, Owens-Corning Inc


Other key industry trends

  • In terms of revenue, Canada accounted for 3.0% of the global structural insulated panels market in 2020.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
  • In North America, U.S. structural insulated panels market is projected to lead the regional market in terms of revenue in 2028.
  • U.S. is the fastest growing regional market in North America and is projected to reach USD 1,942.1 million by 2028.

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Structural Insulated Panels Market Companies

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Canada structural insulated panels market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to structural insulated panels market will help companies and investors design strategic landscapes.


Polystyrene was the largest segment with a revenue share of 72.6% in 2020. Horizon Databook has segmented the Canada structural insulated panels market based on polystyrene, polyurethane, glass wool, other products covering the revenue growth of each sub-segment from 2017 to 2028.


Increasing population, urbanization, and increase in the rate of migration are some of the primary factors expected to drive the growth of residential construction in Canada.  The growth in population in Canada is expected to significantly boost residential construction sector in the coming years.

Unlike the U.S., Canada is expected to witness strong growth in demand for multi-family housing as compared to single-family housing, thereby augmenting the demand for structural insulated panels over the forecast period.

The government’s efforts and investments to provide affordable housing to the lower classes through Canada Mortgage and Housing Corporation (CMHC) and Affordable Housing Initiative (AHI) program are anticipated to further boost the residential construction in the country.

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Horizon Databook provides a detailed overview of country-level data and insights on the Canada structural insulated panels market , including forecasts for subscribers. This country databook contains high-level insights into Canada structural insulated panels market from 2017 to 2028, including revenue numbers, major trends, and company profiles.

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Canada structural insulated panels market size, by product, 2017-2028 (US$M)

Canada Structural Insulated Panels Market Outlook Share, 2020 & 2028 (US$M)

Canada structural insulated panels market size, by product, 2017-2028 (US$M)

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