Press release
Vacuum Insulation Market Global Trends, Size, Segments, Growth And Forecast 2033
Vacuum Insulation Market
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).
Market Overview -
Vacuum insulation refers to an insulation service that is used to provide better insulation performance than conventional insulation materials and to transport heat-sensitive products in extreme conditions and high temperatures. It is a flat element consisting of an open porous core material that withstands the external load caused by atmospheric pressure and a gas-tight envelope to maintain the required vacuum quality.
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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
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.
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Key Segments -
The vacuum insulation market covered in this report is segmented -
1) By Type: Flat Panel, Special Shape Panel
2) By Raw Material: Plastics, Metals
3) By Core Material: Silica, Fiberglass, Other Core Materials
4) By End-User Industry: Construction, Cooling and Freezing Devices, Logistics, Other End-User Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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