Global Vacuum Insulation Panel Market Overview 2023-2028
The vacuum insulation panel (VIP) is an advanced insulation technology designed to provide superior thermal performance in various applications. It consists of a core material enclosed within a gas-tight barrier, creating a vacuum environment. It is highly effective in reducing energy consumption and maintaining temperature control due to the presence of efficient insulation properties. It is employed in walls, roofs, and floor systems where traditional insulation is considered to be bulky or less effective. It is also incorporated in refrigerator and freezer walls, doors, and cabinets for superior thermal insulation. It possesses a long service life and is capable of providing reliable performance for an extensive period.
The global vacuum insulation panel market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Global Vacuum Insulation Panel Market Trends and Drivers:
At present, the increasing demand for VIPs as they enable buildings and appliances to achieve superior energy performance represents one of the crucial factors impelling the growth of the market. Besides this, the rising construction of various luxury apartments and commercial buildings around the world is contributing to the growth of the market. In addition, the growing demand for cold chain logistics to transport temperature-sensitive goods, such as pharmaceuticals, food, and beverages, in a controlled environment is offering a favorable market outlook. Apart from this, the increasing consumption of high-quality, fresh food products to prevent the occurrence of various chronic illnesses is bolstering the growth of the market.
Global Vacuum Insulation Panel Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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.
The report 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:
Breakup by Core Material:
Breakup by Application:
- Cooling and Freezing Devices
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- 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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