Market Overview 2022-2027:
The latest research study “Vacuum Insulation Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global vacuum insulation panel 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.
Industry Definition and Application:
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.
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Market Trends:
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.
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.
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| 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 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Raw Material, Core Material, Application and Region |
| Regional scope | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
| Key companies profiled | 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. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
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 Geography:
- 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
Competitive Landscape with Key Player:
- 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 doo
- Va-Q-Tec AG.
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