Vacuum Insulation Panels Market is expected to grow at a robust CAGR.

Global Vacuum Insulation Panels Market is expected to grow owing to booming infrastructure industry throughout the forecast period.

According to TechSci Research report, “Vacuum Insulation Panels Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, the Global Vacuum Insulation Panels Market is expected to register robust growth during the forecast period. The market growth is primarily driven by the vacuum insulation panel, comprising an airtight envelope enclosing a rigid core with evacuated air. It finds extensive applications in building construction, refrigeration equipment, insulated shipping containers, and more, offering superior insulation performance compared to conventional methods. The global vacuum insulation panels market is witnessing substantial expansion, attributed to the booming construction industry and growing demand for refrigerated containers in the transportation sector.

A substantial portion of the global building stock is already constructed. Retrofitting existing buildings with VIPs presents a remarkable potential for energy savings. The retrofit market offers a significant growth opportunity for VIP manufacturers and contractors specializing in energy-efficient renovations.

The automotive industry is undergoing a notable transition towards electric vehicles, necessitating the implementation of advanced thermal management solutions. Vacuum insulation panels (VIPs) offer an excellent means of enhancing insulation in EVs, thereby optimizing battery performance and extending driving range. Collaborating with automakers to seamlessly integrate VIPs into EV designs presents a substantial opportunity for growth and innovation.

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Based on core material, Silica segment is expected to dominate the market during the forecast period. Silica-based VIPs are known for their outstanding thermal insulation performance. They achieve this through a highly porous core material made primarily of amorphous silica aerogel, which has an extremely low thermal conductivity. This low thermal conductivity allows silica VIPs to provide superior insulation compared to traditional materials like foam or fiberglass. Silica VIPs typically offer one of the highest R-values per unit thickness among insulation materials. This means they can provide the same level of insulation as thicker traditional materials, allowing for space-saving designs. Silica VIPs are thin and lightweight, making them suitable for applications where space constraints are a concern. Their thin profile doesn't compromise their insulation performance. Silica VIPs contribute to maintaining temperature-controlled environments in refrigerated trucks, shipping containers, and cold storage facilities. They ensure the efficient preservation of perishable goods and pharmaceuticals.

Based on end-use, Construction segment is projected to dominate the market throughout the forecast period. Vacuum insulation panels (VIPs) are highly promising insulation materials with exceptional thermal insulating capacity, garnering widespread acceptance in the construction industry. They offer numerous advantages in the construction sector, including reduced building component thickness, increased indoor space utilization, optimized land use, and recyclability of constituent materials after their service life. According to the US Census Bureau, the value of commercial construction in the United States reached USD 114.79 billion in 2022, reflecting a significant 17.63% increase compared to the previous year. Moreover, regions such as Asia-Pacific, the Middle East, and Africa are witnessing substantial domestic and foreign investments in industrial units, hospitals, malls, theaters, hotels, and the IT sector, which is expected to drive the demand for vacuum insulation panels. Saudi Arabia, in particular, is experiencing a surge in real estate developments, growing demand for residential properties, and government initiatives to enhance socio-economic infrastructure, thereby boosting the vacuum insulation panel market in the country. Notably, one of Saudi Arabia's key initiatives under Vision 2030 is housing, which is anticipated to generate demand for vacuum insulation panels in the country's construction industry in the coming years. According to a study by the Institution of Civil Engineers (ICE), the global construction industry is projected to reach USD 8 trillion by 2030, driven primarily by China, India, and the United States. Furthermore, the increasing number of building codes and policies mandating energy-efficient structures is further accelerating the adoption of eco-friendly and energy-conserving materials in the construction sector.

Key market players in the Global Vacuum Insulation Panels Market are:-

• Avery Dennison Corporation
• Chuzhou Yinxing Electric Co. Ltd
• Etex Group
• Evonik Industries AG
• KCC Corporation
• Kingspan Group
• Knauf Insulation
• Morgan Advanced Materials
• TURNA d.o.o
• Vaku -Isotherm GmbH

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“The Vacuum Insulation Panels Market in Asia Pacific is poised to be the dominant force in the industry. Certain regions in the Asia-Pacific encounter severe weather conditions, characterized by scorching summers and harsh winters. VIPs offer exceptional thermal insulation, making them a preferred option for areas that demand precise temperature control. As a result, their utilization in construction projects has witnessed a rise in countries such as Japan, South Korea, and China.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Vacuum Insulation Panels Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Type (Flat Panel and Special Shape Panel), By Raw Material (Plastics, Metal and Others), By Core Material (Silica, Fiberglass and Others), By End-Use (Construction, Cooling & Freezing Devices, Logistics and Others), By Region, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Global Vacuum Insulation Panels Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Vacuum Insulation Panels Market.

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