Press release
Insulating Excellence: Vacuum Insulation Panels Lead Sustainability in 2024- Highlights the leadership role of vacuum insulation panels in promoting sustainability efforts.
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.
Market Overview -
Vacuum insulation panel refers to thermal insulation that consists of a gas-tight shell enclosing a rigid core that has been evacuated of air. They are manufactured with microporous core encapsulated and vacuum sealed in impermeable high gas barrier film under vacuum. The advantages of vacuum insulation panels are good thermal efficiency, reliable long-term performance, and fit in tight spaces in new buildings.
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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.
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.
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Key Segments -
The vacuum insulation panel market covered in this report is segmented -
1) By Type: Flat, Special shape
2) By Raw Material: Silica, Fiberglass, Plastic, Metal, Other Raw Materials
3) By Application: Construction, Cooling and Freezing Devices, Logistics, Other Applications
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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