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A Significant Increase In Market Size Is Expected For The Global Vacuum Insulation Industry By 2032 || BASF SE, M&I Materials Limited, Morgan Advanced Materials (U.K.), Evonik Industries AG (Germany), LG Hausys (South Korea)
Vacuum Insulation Market
Vacuum Insulation Market Size, Growth Rate, And Forecast
The global vacuum insulation market size grew from $8.6 billion in 2022 to $9.27 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The vacuum insulation market size is expected to grow to $12.33 billion in 2027 at a CAGR of 7.4%.
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Vacuum Insulation Market Drivers
Increased utilisation across cooling and freezing applications is expected to propel the growth of the vacuum insulation market going forward. Freezing applications use vacuum insulation to help keep food cool for a longer period than other coolers. Vacuum insulation is helpful for fast and safe refrigerated transport of medicines and pharmaceutical products. For instance, in March 2022, according to The Economic Times, an India-based business-focused daily newspaper, sales of cooling appliances increased by 15% in the year 2020 as compared to 2019 as stated by major consumer electronics manufacturing companies such as Haier, Godrej Appliances, and Lloyd. Therefore, the increased utilization across cooling and freezing applications is driving the vacuum insulation market.
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Vacuum Insulation Market Segments
• By Type: Flat Panel, Special Shape Panel
• By Raw Material: Plastics, Metals
• By Core Material: Silica, Fiberglass, Other Core Materials
• By End-User Industry: Construction, Cooling and Freezing Devices, Logistics, Other End-User Industries
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the vacuum insulation market.
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Vacuum Insulation Market Key Players
Major competitors in the vacuum insulation market are BASF SE, M&I Materials Limited, Morgan Advanced Materials (U.K.), Evonik Industries AG (Germany), LG Hausys (South Korea), Panasonic Corporation (Japan), Dow (U.S.), Kevothermal (Mexico), ThermoCor (U.S.), Va-Q-Tec AG (Germany), Microtherm Sentronic GmbH (Belgium), OCI Company Ltd. (Korea).
The Business Research Company's "Global Vacuum Insulation Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Vacuum Insulation Market Include:
1. Executive Summary
2. Vacuum Insulation Market Characteristics
3. Vacuum Insulation Market Trends And Strategies
4. Vacuum Insulation Market - Macro Economic Scenario
5. Vacuum Insulation Market Size And Growth
………………
27. Vacuum Insulation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Vacuum Insulation Market
29. Vacuum Insulation Market Future Outlook and Potential Analysis
30. Appendix
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