Press release
Vacuum Insulation Panel Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Evonik Industries AG, Panasonic Corporation, DOW Corning Corporation, Kevothermal LLC
Vacuum Insulation Panel Market Size
The Business Research Company offers in-depth market insights through Vacuum Insulation Panel 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 panel market size has grown steadily in recent years. It will grow from $7.66 billion in 2023 to $8.03 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to green building initiatives, energy efficiency regulations, cost reduction efforts, industrial insulation needs, globalization of markets.
The vacuum insulation panel market size is expected to see steady growth in the next few years. It will grow to $9.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing sustainable and green construction practices, 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 advanced manufacturing techniques, customized vip solutions, nanotechnology integration, smart building integration, hybrid insulation systems.
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Market Segmentation:
The main types of vacuum insulation panel are flat and special shape. Flat vacuum insulation panels refers to vacuum insulation panels that are flat in shape and they are widely used in logistics, construction, and cooling and freezing industry as they have high thermal insulation properties. The materials used in vacuum insulation panels are silica, fiberglass, plastic, metal, other raw materials. The vacuum insulation panels are used in construction, cooling and freezing devices, logistics, other applications.
Major Driver - Growing Emphasis On Energy Efficiency Drives Vacuum Insulation Panel Market
The increasing focus on energy efficiency is expected to propel the growth of the vacuum insulation panel market going forward. Energy efficiency refers to the efficient use of energy to achieve a desired output while minimizing waste and reducing energy consumption. Vacuum insulation panels, or VIPs, play a significant role in energy efficiency as they are used in buildings and refrigeration to provide high levels of thermal insulation, which can help reduce energy consumption and costs. For instance, in December 2022, the European Union, a Netherlands-based political and economic union of 27 member states, committed to a 32.5% reduction of energy consumption by the year 2030. This translates into a primary energy consumption of no more than 1,273 million tons of oil equivalent (Mtoe) and a final energy consumption of no more than 956 Mtoe in 2030. Therefore, the increasing focus on energy efficiency is driving the growth of the vacuum insulation panel market.
Competitive Landscape:
Major companies operating in the vacuum insulation panel market include Evonik Industries AG, Panasonic Corporation, DOW Corning Corporation, Kevothermal LLC, Microtherm Sentronic GmbH, va-Q-tec AG, OCI Company Ltd., Thermal Visions Inc., LG Hausys Ltd., Porextherm Dämmstoffe GmbH, ThermoCor, Kingspan Group, Johns Manville Corporation, Owens Corning Inc., Saint-Gobain S.A., GAF Materials Corporation, Atlas Roofing Corporation, Huntsman Corporation, Cabot Corporation, BASF SE, DuPont de Nemours Inc., 3M Company, Avery Dennison Corporation, Nitto Denko Corporation, Sekisui Chemical Co. Ltd., Armacell International S.A., Morgan Advanced Materials plc, Unifrax I LLC, Aspen Aerogels Inc., Insulfoam EPS, West Coast Insulation Inc.
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Top Trend - Innovation Drives Vacuum Insulation Panel Market, Including Self-Healing Technologies
Innovation is a key trend in the vacuum insulation panel market. Innovation in the product is crucial to remain competitive in the market. Self-healing films are an innovation that is gaining traction. The thermal resistance of vacuum insulation panels (VIPs) is around R40/inch. During shipment and installation, the barrier film, that maintains the panel's vacuum and thermal performance can be readily broken. The Oak Ridge National Laboratory is developing a self-healing barrier coating for VIPs that will instantaneously fix puncture damage. The self-healing barrier coating will prevent vacuum loss, allowing the VIPs to maintain thermal performance.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Vacuum Insulation Panel Market Characteristics
3. Vacuum Insulation Panel Market Trends And Strategies
4. Vacuum Insulation Panel Market - Macro Economic Scenario
5. Vacuum Insulation Panel Market Size And Growth
…..
27. Vacuum Insulation Panel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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