According to the latest report by IMARC Group, the global vacuum insulation panels market reached a value of US$ 8.21 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.29 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
A vacuum insulation panel (VIP) is a flat element containing an open porous core material that withstands the outward load caused by atmospheric pressure. It is ideal for transporting heat-sensitive products in harsh conditions, extended periods, and extreme temperatures. Some commonly used VIP cores include foams, fibers, powders, and fiber-powder composites. It offers low insulation thickness and high-performance thermal insulation while providing better insulation performance than conventional insulation materials. As a result, VIP finds extensive applications in building construction, insulated shipping containers, refrigerating units, and logistics industries across the globe.
Vacuum Insulation Panel Market Trends and Drivers:
The market is primarily driven by the expanding industrial sectors and development in the construction and consumer durables industries. In addition, significant advancements in nanotechnology and material sciences allowed the adaptation of known theoretical principles of thermal physics in practice, thus resulting in the development of high-performance thermal insulators.
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This, coupled with the rising product adoption as internal or external insulation in nurseries, detached houses, apartment buildings, office buildings, floors, facades, flat roofs, terraces, walls, attic hatches, and stairs in new construction and renovations, is augmenting the market growth. Apart from this, VIPs are employed for high-temperature applications, such as furnaces, hot water tanks, domestic ovens, concentrated solar plants, and heat-resistant glass-fiber core panels, which is also creating a positive market outlook across the globe.
| Vacuum Insulation Panel Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 8.21 Billion |
| Market forecast in 2027 | US$ 11.29 Billion |
| Growth Rate | CAGR of 5.10% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Vacuum Insulation Panel Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Avery Dennison Corporation, BASF SE, Etex Building Performance NV (Etex Group), Evonik Industries AG (RAG-Stiftung), Kevothermal Ltd, Kingspan Group plc, Knauf Insulation, Morgan Advanced Materials, OCI Company Ltd., Panasonic Corporation, TURNA d.o.o. and Va-Q-Tec AG.
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The report has segmented the market on the basis of region, type, raw material, core material and application.
Breakup by Type:
- Flat Panel
- Special Shape Panel
Breakup by Raw Material:
- Plastics
- Metal
Breakup by Core Material:
- Silica
- Fiberglass
- Others
Breakup by Application:
- Construction
- Cooling and Freezing Devices
- Logistics
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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