Press release
Vacuum Insulation Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | BASF SE, M&I Materials Limited, Morgan Advanced Materials, Evonik Industries AG, LG Hausys, Panasonic Corporation
Vacuum Insulation Market Size
The Business Research Company offers in-depth market insights through Vacuum Insulation Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The vacuum insulation market size has grown strongly in recent years. It will grow from $9.37 billion in 2023 to $10.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to growth in green building initiatives, cost reduction efforts, industrial insulation needs, automotive lightweighting, energy efficiency regulations.
The vacuum insulation market size is expected to see strong growth in the next few years. It will grow to $14.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to rise in sustainable construction, growing demand for hvac efficiency, aerospace and automotive growth, urbanization and infrastructure development, increased awareness of climate change .. Major trends in the forecast period include smart building integration, green building certification, high-performance refrigeration, customized vip solutions, vacuum insulated glass (vig)..
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Market Segmentation:
The main types of vacuum insulation are flat-panel and special-shape panels. Flat panels are used for optimized temperature insulation that is based on the principle of the thermos flask. The various raw materials include plastics, metals, and core materials such as silica, fiberglass, and other core materials. These are used in construction, cooling and freezing devices, logistics, and other end-user industries.
Major Driver - Rising Demand For Vacuum Insulation In Cooling And Freezing Applications
Increased utilization 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 May 2022, according to International Energy Agency, a France-based intergovernmental agency, 88% of U.S. households use air conditioning (AC) . Therefore, the increased utilization across cooling and freezing applications is driving the vacuum insulation market.
Competitive Landscape:
Major companies operating in the vacuum insulation market include BASF SE, M&I Materials Limited, Morgan Advanced Materials, Evonik Industries AG, LG Hausys, Panasonic Corporation, Dow, Kevothermal LLC, ThermoCor, Va-Q-Tec AG, Microtherm Sentronic GmbH, OCI Company Ltd., AVERY DENNISON CORPORATION, Kingspan Group, KCC CORPORATION, GereMarie Corporation, Svenska Aerogel AB, Saffil Ltd., Foshan JCT Machinery Co. Ltd., Anavid Insulation Products, Sulzer Metco, Luxfer Gas Cylinders, HPQ Silicon Resources Inc., Isoleika S.L., Thermal Windows, Saint-Gobain, Perlite Institute, TechnoNICOL Corporation
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Top Trend - Innovative Technologies Transforming The Vacuum Insulation Market
Technological advancements are a key trend gaining popularity in the vacuum insulation market. Major companies operating in vacuum insulation are developing new products with innovative technologies to strengthen their position in the market. For instance, in 2021, Panasonic Corporation, a Japan-based company operating in vacuum insulation, launched its innovative vacuum insulating product known as the VIXELL Vacuum Insulated Cooking Box, which uses contactless power supply technology to enable the user to determine insulation performance.
The Table Of Content For The Market Report 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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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