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Vacuum Insulation Panel Global Market Analysis, Trends, Growth, Research And Forecast 2033
Vacuum Insulation Panel Global Market
As per the report, 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 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%.
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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.
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 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
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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.
Contents of the report:
1. Executive Summary
2. Vacuum Insulation Panel Market Report Structure
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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