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Tile Adhesives & Stone Adhesives Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Tile Adhesives & Stone Adhesives Market
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According to The Business Research Company's, 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 Drivers and Trends:
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.
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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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Vacuum Insulation Market 2024 Key Insights:
• 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%.
• Rising Demand For Vacuum Insulation In Cooling And Freezing Applications
• Innovative Technologies Transforming The Vacuum Insulation Market
• Asia-Pacific was the largest region in the vacuum insulation market share in 2023
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