According to the latest report by IMARC Group, “Global Vacuum Insulation Panels Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global vacuum insulation panel market reached a value of US$ 8.21 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.29 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
A vacuum insulation panel (VIP) refers to the flat element comprising an open porous core material that withstands the external load caused by atmospheric pressure and a gas-tight envelope to maintain the required quality of the vacuum. It provides low insulation thickness and superior thermal insulation performance as compared to conventional insulating panels. In line with this, VIP is ideal for the transportation of heat-sensitive products in extreme conditions, including prolonged period and intense temperature. Consequently, it is extensively utilized in various industries, such as construction and logistics, across the countries.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Vacuum Insulation Panels Market Trends and Drivers:
The increasing cold storage facilities are primarily driving the vacuum insulation panel market. Additionally, the widespread adoption of VIPs as external or internal insulation in detached houses, apartment buildings, nurseries, office buildings, attic hatches, etc., is further catalyzing the market growth. Besides this, the growing utilization of vacuum insulation panels in refrigerated trucks and transportation systems, vending machines, freezers, wine coolers, etc., is acting as another significant growth-inducing factor.
Moreover, VIPs are viable for high-temperature applications, including domestic ovens, furnaces, hot water tanks, and concentrated solar plants, particularly with heat-resistant glass-fiber core panels, which is also positively influencing the global market. Apart from this, the development of enhanced thermal insulators, on account of numerous advancements in nanotechnology and material sciences, is anticipated to fuel the vacuum insulation panel market over the forecasted period.
Global Vacuum Insulation Panels Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
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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:
The Breakup by Core Material:
Breakup by Application:
- Cooling and Freezing Devices
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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