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Surging Construction Activities in Asia Pacific to Significantly Boost the Market for Vacuum Insulation Panels
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vacuum insulation panels market
The TMR report also analysis the market valuation that is expected to cross US$9bn by the end of the forecast period of 2026. The global market for vacuum insulation panels is anticipated to grow at 5.3% of CAGR during the tenure between 2017 to 2026. Silica, a core type of material is used in vacuum insulation panels is expected to dominate the market by reaching a valuation of US$ 4.2 bn by the end of the tenure. The regional analysis estimated that the Asia Pacific excluding Japan (APEJ) as a lucrative market for vacuum insulation panels. India, China, and Australia are some of the prominent regions having logistics, pharmaceuticals, construction and refrigeration industries that will boost the demand for vacuum insulation panels.
Pharmaceutical Industry Triggered the Demand for Vacuum Insulation Panels
The demand for vacuum insulation panels has significantly grown in the commercial refrigeration applications in numerous ways. The increasing number of transportation of refrigerated food products has remarkably increased the demand for vacuum insulation panels that will further expand the market avenues in coming years. Pharmaceutical industry is also using these panels at an extensive rate. As these panels help in managing temperature excursion for various pharmaceutical products and other drugs that will accentuate the demand in coming years. Vacuum insulation panels provide effective temperature control system that helps in maintaining drug quality during transportation. Logistics and refrigerated shipping have also pushed the demand for these panels as they widely reduce the fuel consumption in transporting vehicles.
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Improving Energy Efficiency in Construction Material to Boost the Panels Market
Increasing building construction has significantly augmented the demand for vacuum insulation panels that enhances the energy efficiency of various construction material. Emerging economies are opening huge opportunities for the vacuum insulation panels market due to increasing infrastructural developments. Additionally, retrofit insulation is highly preferred in building, thus it will flourish the demand for vacuum insulation panels during the forecast period. Moreover, the use of vacuum insulation panels is much more effective than the traditional foam insulation in various refrigeration applications is also expected to boost the market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The companyРђЎs exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMRРђЎs experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMRРђЎs data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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