Vacuum Insulation Panel Market Overview 2023-2028:
The global vacuum insulation panel market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
A vacuum insulation panel (VIP) is a specialized form of thermal insulation that comprises a sturdy and compact core enclosed within a gas-tight structure. It exhibits superior insulating capabilities and surpasses other insulation materials in terms of efficiency. Notably thin, it proves invaluable in scenarios where space is constrained. It provides remarkable thermal resistance per unit thickness and finds utility in various applications such as flooring and roofing. Additionally, it demonstrates resilience against external pressures induced by atmospheric conditions.
Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
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Vacuum Insulation Panel Market Trends and Drivers:
Currently, the market for vacuum insulation panels (VIPs) is experiencing significant growth due to several key factors. Firstly, the escalating demand for VIPs in automated storage and retrieval systems is a major driver for market expansion. Furthermore, the ongoing construction of industrial and commercial infrastructure worldwide is fueling market growth. Additionally, the adoption of energy-efficient construction materials, including VIPs, is gaining traction as they help reduce pollution and mitigate the effects of global warming, thus contributing to a favorable market outlook. The increasing application of VIPs in commercial refrigeration, cryogenic storage, and cold chain logistics is also playing a vital role in market expansion. Moreover, the installation of VIPs to minimize the need for indoor heating or cooling is boosting market growth. Lastly, the growing utilization of VIPs with glass-fiber cores in hot water tanks, domestic ovens, and concentrated solar plants is further strengthening the market’s growth trajectory.
Global Vacuum Insulation Panel Market Analysis and Segmentation 2023-2028:
Top Key Players covered in this report are: Avery Dennison Corporation, BASF SE, Etex Building Performance NV (Etex Group), Evonik Industries AG (RAG-Stiftung), Kevothermal Ltd, Kingspan Group plc, Knauf Insulation, Morgan Advanced Materials, OCI Company Ltd., Panasonic Corporation, TURNA d.o.o. and Va-Q-Tec AG.
The report has segmented the market on the basis of region, type, raw material, core material and application.
Breakup by Type:
- Flat Panel
- Special Shape Panel
Breakup by Raw Material:
Breakup by Core Material:
Breakup by Application:
- Cooling and Freezing Devices
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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