“Global Philippines Structural Insulated Panels Market Research Report 2019-2024”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The Philippines structural insulated panels market is expected to grow moderately, at an estimated CAGR of 4.21%, during 2019-2024. The market is driven by the increasing demand from the construction industry.
Companies Include are:
ENERCON Specialty Building Systems Corporation, iSTEEL Inc., Kingspan Group, Metalink, Shanghai Seventrust Industry Co. Ltd, SRC Intl. Panel System Inc., Supersonic Manufacturing Inc., Ultra Insulated Panel Systems Corporation (UIPSC), Union Galvasteel Corporation (UGC), VBLLU Inc., Thermasip, Ultra Insulated Panel Systems Corporation, VBLLU Inc., iSTEEL, Inc.
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Increasing cold storage applications are likely to act as a market opportunity for market growth in the future.
In 2017, the building wall application dominated the market with a share of around 60%.
The Philippine structural insulated panels market is partly consolidated, with the top 10 players accounting for 60-70% of the total market share. The major companies include Ultra Insulated Panel Systems Corporation, VBLLU Inc., and iSTEEL Inc., among others.
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Key Market Trend
Increasing Demand from the Construction Industry :-
The rise in building and construction activities is the prominent factors augmenting the demand for structural insulated panels (SIPs).Number of constructions in the country registered a growth of 2.7% in 2017, with the total number of constructions generated from approved building permits reaching 152,01,2 and the non-residential constructions increased by 19.6%, reaching 21,349 constructions in 2017.
Furthermore, increasing construction and infrastructure spending in the country has been increasing from the past few years. In August 2018, government spending on infrastructure increased by 71%, to PHP 68.4 billion from PHP 40.1 billion, in the same month of 2017.
Increasing Demand for the Building Walls :-
The elimination of thermal bridging and a more air tight envelope contributes to the higher whole wall R-value of structural insulated wall panels, compared to the conventional metal and wood stud walls.
The total volume of the panels used as structural insulated wall panels is much higher, compared to the volume of the panels used as structural insulated roof panels.
Philippines experienced a GDP growth rate of 6.7% in 2017, ranking the highest among the ASEAN nations, aided by the increasing consumption and higher investments, which, in turn, led to a strong rebound in export earnings.
All the aforementioned factors, in turn, increase the demand for the structural insulated panels
The report has 200 tables and figures browse the report description and TOC:
Essential points covered in Global Philippines Structural Insulated Panels Market 2019 Research are:-
- What will the Philippines Structural Insulated Panels market size and the growth rate be in 2024?
- What are the key factors driving the Global Philippines Structural Insulated Panels market?
- What are the key market trends impacting the growth of the Global Philippines Structural Insulated Panels market?
- What are the challenges to Philippines Structural Insulated Panels market growth?
- Who are the key vendors in the Global Philippines Structural Insulated Panels market?
- What are the market opportunities and threats faced by the vendors in the Global Philippines Structural Insulated Panels market?
- What are the key outcomes of the five forces analysis of the Global Philippines Structural Insulated Panels market?
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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