The global Vacuum Insulation Panel Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global Vacuum Insulation Panel Market size is expected to value at USD 9.07 billion by 2024. The vacuum insulation panel industry is subject to witness a substantial growth due to the rising construction spending in the both developed & developing economies across the globe. Increasing demand for vacuum insulation panels is currently attributed to its superior properties such as thermal resistance, particularly as compared to the traditional insulation materials.
Key Players:
- Evonik Industries AG
- LG Hausys Ltd
- Panasonic Corporation
- DOW Corning Corporation
- OCI Company Ltd
- Kevothermal, LLC
- Porextherm Dämmstoffe GmbH
- Thermocor
- Va-Q-Tec AG
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Growth Drivers:
Globally, the vacuum insulation panel market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market. Vacuum insulation panels are considered as vital elements for various construction applications due to their superior thermal resistance properties, thus largely positively affecting market growth over the forecast period. Stringent laws & regulations in regards to energy conservation by government authorities are predicted to favor the growth of vacuum insulation panels over the forecast period. In addition, use of vacuum insulation panels helps to limit carbon dioxide emission rate, thus aggravating market value exponentially in the process.
Vacuum insulation panels are also fragile in nature, thus substantially negatively affecting overall industry performance. Yet, personalized customization of vacuum insulation panels with broad range of sizes is projected to boost market demand in the near future. The recent technological advancements in building & construction sector coupled with development of novel products are expected to drive market growth over the next seven years.
Product Outlook:
- Flat
- Special Shape
Application Outlook:
- Construction
- Cooling & Freezing devices
- Logistics
Growing popularity of vacuum insulation panel in the building & construction segment is attributed to the stringent laws ®ulation regarding energy conservation and increasing demand for energy efficient infrastructure. The logistics segment has also witnessed substantial growth owing to the wide range of application in cold chain solution like that of pharmaceutical temperature controlled shipping.
Core Material Outlook:
- Silica
- Fiberglass
Raw Material Outlook:
- Plastics
- Metals
Regional Outlook:
North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction sector, increase in the number of research & development activities, and existence of well-established manufacturing infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the vacuum insulation panel with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing infrastructural spending, strong economic growth in the region, and significant investment by leading industry players considering potential growth opportunities.
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