The global vacuum insulation panel market size reached US$ 9.1 Billion in 2023. Looking forward, the market is projected to reach US$ 13.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.39% during 2023-2032.
A vacuum insulation panel (VIP) is a flat element comprising an open porous core material, which withstands the external load caused by atmospheric pressure and a gas-tight envelope to maintain the required quality of the vacuum. It is ideal for the transportation of heat-sensitive products in extreme conditions, such as prolonged periods and intense temperatures. It offers low insulation thickness and high-performance thermal insulation. As a result, VIP finds extensive applications in the construction and logistics industries across the globe.
Apart from this, they are used in refrigerated trucks and transportation systems, vending machines, cold storage units like fridges, freezers, and wine coolers, and packaging for medical and pharmaceutical products. In addition, VIPs are viable for high-temperature applications, such as domestic ovens, furnaces, hot water tanks, and concentrated solar plants, especially with heat-resistant glass-fiber core panels. Besides this, VIPs exhibit superior insulation performance than conventional insulating panels, which is impelling the growth of the market. Furthermore, the rapid expansion of cold storage facilities worldwide is positively influencing the market.
2. What is the expected growth rate of the global vacuum insulation panel market during 2024-2032?
3. What are the key factors driving the global vacuum insulation panel market?
4. What has been the impact of COVID-19 on the global vacuum insulation panel market?
5. What is the breakup of the global vacuum insulation panel market based on the type?
6. What is the breakup of the global vacuum insulation panel market based on the core material?
7. What is the breakup of the global vacuum insulation panel market based on the application?
8. What are the key regions in the global vacuum insulation panel market?
9. Who are the key players/companies in the global vacuum insulation panel market?
A vacuum insulation panel (VIP) is a flat element comprising an open porous core material, which withstands the external load caused by atmospheric pressure and a gas-tight envelope to maintain the required quality of the vacuum. It is ideal for the transportation of heat-sensitive products in extreme conditions, such as prolonged periods and intense temperatures. It offers low insulation thickness and high-performance thermal insulation. As a result, VIP finds extensive applications in the construction and logistics industries across the globe.
Vacuum Insulation Panel Market Trends
In recent years, significant progress in nanotechnology and material sciences, allowing the adaptation of known theoretical principles of thermal physics in practice, has resulted in the development of high-performance thermal insulators. This, in confluence with increasing construction activities on account of rapid industrialization and urbanization across the globe, represents one of the key factors bolstering the growth of the market. Moreover, VIPs are used as external or internal insulation in detached houses, apartment buildings, nurseries, and office buildings in new construction and renovations. They are also utilized for insulating floors, facades, flat roofs, terraces, walls, attic hatches, and stairs.Apart from this, they are used in refrigerated trucks and transportation systems, vending machines, cold storage units like fridges, freezers, and wine coolers, and packaging for medical and pharmaceutical products. In addition, VIPs are viable for high-temperature applications, such as domestic ovens, furnaces, hot water tanks, and concentrated solar plants, especially with heat-resistant glass-fiber core panels. Besides this, VIPs exhibit superior insulation performance than conventional insulating panels, which is impelling the growth of the market. Furthermore, the rapid expansion of cold storage facilities worldwide is positively influencing the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global vacuum insulation panel market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, raw material, core material and application.Breakup by Type:
- Flat Panel
- Special Shape Panel
Breakup by Raw Material:
- Plastics
- Metal
Breakup by Core Material:
- Silica
- Fiberglass
- Others
Breakup by Application:
- Construction
- Cooling and Freezing Devices
- Logistics
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.Key Questions Answered in This Report
1. What was the size of the global vacuum insulation panel market in 2023?2. What is the expected growth rate of the global vacuum insulation panel market during 2024-2032?
3. What are the key factors driving the global vacuum insulation panel market?
4. What has been the impact of COVID-19 on the global vacuum insulation panel market?
5. What is the breakup of the global vacuum insulation panel market based on the type?
6. What is the breakup of the global vacuum insulation panel market based on the core material?
7. What is the breakup of the global vacuum insulation panel market based on the application?
8. What are the key regions in the global vacuum insulation panel market?
9. Who are the key players/companies in the global vacuum insulation panel market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Vacuum Insulation Panel Market
6 Market Breakup by Type
7 Market Breakup by Raw Material
8 Market Breakup by Core Material
9 Market Breakup by Application
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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.
- Va-Q-Tec AG.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.1 Billion |
| Forecasted Market Value ( USD | $ 13.4 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
