The global vacuum insulation panel market size is estimated to expand at a high CAGR during the forecast period, 2021–2028. Growth of the market is attributed to rising usage of vacuum insulation panel in specialized technical fields such as manufacture of cold-storage cells, electrical appliances, and construction materials.
A vacuum insulation panel consists of a stiff, porous core enclosed in a thin, gas-tight outer shell. To prevent outside gases from accessing the panel, the shell is evacuated and sealed because of the porous substance and vacuum, the heat resistance is quite high. This thermal resistance benefits are due to absence of convective and conductive currents through the panel.
In vacuum insulation panel core materials, membranes, and structure are selected based on a specific thermal insulation mechanism such as inner core materials like glass fiber and silica which have porosity, good frame geometrics, and are lightweight which can significantly minimize solid heat transmission are majorly used.
Selection of core and envelope materials is extremely important while manufacturing of vacuum insulation panels. Benefits in the construction industry include decreased building component thickness, improved interior space, and land use efficiency.
The Covid-19 pandemic affected the demand and supply of vacuum insulation panel market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Trend for innovative designs, construction companies using various materials and implementing policies on infrastructure practices are projected to fuel the market during forecast period.
- In present era the major focus of consumers is on sustainability and environmentally friendly solutions vacuum insulation panel are substantially reduces energy consumption which is driving the demand in the market.
- Manufactures are now manufacturing advance vacuum insulation panel which are entirely made from recycled materials, making them more environment all these factors are projected to boost the market.
- Major retrain with insulated vacuum panels is unlike most traditional insulating materials on the market it cannot be modified or trimmed to fit on-site.
- Vacuum insulation panel are extensively employed in a variety of industrial applications but their applicability in construction projects is still limited due high cost and service life which is anticipated to hamper the market growth.
Scope of the Report
The report on the global vacuum insulation panel market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Vacuum Insulation Panel - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Application (Construction, Cooling & Freezing Devices, Logistics, and Others), Core Material (Silica, Fiberglass, and Others), and Structure Types (Flat and Special Shape)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Knauf Insulation; OCI Company Ltd; Evonik Industries AG; Panasonic Corporation; Dow
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Market Segment Insights
The construction segment is estimated to account for a major market share
Based on applications, the vacuum insulation panel market is fragmented into construction, cooling & freezing devices, logistics, and others. The construction segment is expected to represent a key share of the market due to rising usage in commercial construction. However, the logistics segment is anticipated to hold a considerable market share in the projected period.
The fiberglass segment to register a substantial growth
In terms of core material, the vacuum insulation panel market is segregated into silica, fiberglass, and others. The fiberglass segment is expected to hold a major share of the market during the forecast period attributed to its high heat resistance.
The flat segment is anticipated to exhibit a high CAGR
Based on structure types, the vacuum insulation panel market is divided into flat and special shape. The flat segment is expected to hold a key share of the market during the forecast period. Factors such as design flexibility and ease-of-manufacturing are driving the market. On the other hand, the special shape segment is expected to grow at a steady rate due to increasing customized structure demand.
Asia Pacific is anticipated to dominate the market
On the basis of regions, the vacuum insulation panel market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is estimated to dominate the market in the coming years. The Asia Pacific market growth can be attributed to high demand from construction, logistics, and warehousing industries.
Segments
The vacuum insulation panel market has been segmented on the basis of
Application
- Construction
- Cooling & Freezing Devices
- Logistics
- Others
Core Material
Structure Types
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key players
- Knauf Insulation
- OCI Company Ltd
- Evonik Industries AG
- Panasonic Corporation
- Dow
Competitive Landscape
Key players competing in the vacuum insulation panel market include Knauf Insulation; OCI Company Ltd; Evonik Industries AG; Panasonic Corporation; and Dow.
Some of these players are focusing on business plans such as acquisitions, partnerships, mergers collaborations, capacity expansion, and product launches to increase their market shares.
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