Vacuum Insulation Panels Market Analysis | 2023-2028

Market Insights

The vacuum insulation panels market was estimated at USD 6.76 billion in 2022 and is likely to grow at a CAGR of 4.85% during 2023-2028 to reach USD 9.05 billion by 2028.

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Market Dynamics

Introduction

Vacuum insulation panels are high-performance and ultra-thin insulants preferred over conventional insulation materials. These panels provide vitality, proficiency, and space benefits for home machines, temperature-controlled bundling, and refrigerated transportation frameworks. They are widely used in various applications, such as building construction, insulated shipping vessels, and refrigeration units to offer better insulation performance.

Market Drivers

The market is driven by a host of factors, some of which are noted below:

• The growth of the market is driven by the expanding construction and consumer durable industries.
• The rising innovative developments in the industrial sectors.
• Increasing demand for vacuum-insulated panels from cold storage and frozen transportation industries
• 0wing to the increasing quantities of frozen food being transported worldwide marks a significant factor driving the market's growth.
• The transportation of pharmaceutical products & medicines globally has also been contributing to the rapid growth.

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Key Players

The following are the key players in the vacuum insulation panels market?:

• Evonik Industries AG
• LG Hausys Ltd.
• Panasonic Corporation
• Dow Corning Corporation
• OCI Company Ltd.
• Kevothermal, LLC
• Porextherm Dämmstoffe GmbH
• ThermoCor
• Va-Q-Tec AG
• Microtherm.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Product Type

"Flat vacuum insulation panels segment held the larger share of >50% in the market in 2022"

The market is segmented as flat and special shape. The flat vacuum insulation panels segment held the larger share of >50% in the market in 2022 and is expected to remain dominant during the forecast period. Flat vacuum insulation panels are mainly employed in cooling and freezing devices, the logistics industry, and the construction industry, and the surge in demand for flat vacuum insulation panels is primarily owing to their higher thermal insulation properties, which is leading to the growth of the segment.

By Core Material Type

"Silica-based vacuum insulation panels segment dominates the market with a share of >40% in 2022"

The vacuum insulation panels market is segmented as silica, fiberglass, and others. The silica-based vacuum insulation panels segment dominates the market with a share of >40% in 2022, as silica-based panels are widely used in the construction industry. The exceptional stable thermal insulation properties of silica-based vacuum insulation panels are likely to further drive the demand for the segment.

Regional Analysis

"Asia-Pacific is estimated to be the largest market during the forecast period"

Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is mainly driven by the rising construction, infrastructure, and industrial sectors in the major economies of the region.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s vacuum insulation panels market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The vacuum insulation panels market is segmented into the following categories:

By Core Material Type

• Silica 
• Fiberglass 
• Others 

By Product Type

• Flat 
• Special Shape 

By Application Type

• Construction 
• Cooling & Freezing Devices 
• Logistics 
• Others 

By Raw Material Type

• Silica 
• Fiberglass 
• Plastic 
• Metal 
• Others 

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.