Vacuum Insulation Panel Market To Reach $10.82 Billion By 2030

Vacuum Insulation Panel Market Growth & Trends

The global vacuum insulation panel market size is anticipated to reach USD 10.82 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 4.3% from 2024 to 2030. Growing construction spending is expected to assist the growth for vacuum insulation panel over the forecast period. These are preferred more, owing to their thermal resistance properties compared to conventional insulation materials.

Moreover, the International Energy Agency issued strict regulations to conserve energy which has further propelled the demand for such panels. These panels help in reducing greenhouse gas emissions such as carbon dioxide from the atmosphere, thus helping to prevent polluting the environment to a large extent. Such a trend is anticipated to benefit the overall market over the next eight years.

However, vacuum insulation panels exhibit a heavier weight than conventional insulation materials which is expected to remain a key challenge for market participants. Factors such as, durability, shape and fragility are also anticipated to determine the demand for vacuum insulation panels in future.

Several R&D initiatives are being taken to introduce automated panels, which shall result in cost reduction of vacuum insulation panels over the forecast period. Recently, EVAL EVOH resins are added to provide an outer lamination coating for vacuum insulation panels to increase their shelf life.

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Vacuum Insulation Panel Market Report Highlights

• The silica segment dominated the market with 45.2% of revenue share in 2023. This is due to their exceptional thermal insulation properties.

• The flat segment dominated the market with 55.1% of revenue share in 2023. This is due to their ease of manufacturing, handling, and installation.

• The metals segment accounted for the largest market revenue share in 2023. This is due to their excellent barrier properties, thermal conductivity properties and recyclability.

• Construction accounted for the largest market with a revenue share of 61.5% in 2023. The increasing demand for energy-efficient building materials is a significant factor driving the growth of VIPs in the construction sector.

• The North America vacuum insulation panel market is anticipated to grow at a CAGR of 4.1% during the forecast period.

Vacuum Insulation Panel Market Segmentation

Grand View Research has segmented the global Vacuum Insulation Panel Market on the basis of core material, product, raw material, application, and region:

Vacuum Insulation Panel Core Material Outlook (Revenue, USD Million, Volume in Million Square Meters, 2018 - 2030)

• Silica

• Fiberglass

• Others

Vacuum Insulation Panel Product Outlook (Revenue, USD Million, Volume in Million Square Meters, 2018 - 2030)

• Flat

• Special Shape

Vacuum Insulation Panel Raw Material Outlook (Revenue, USD Million, Volume in Million Square Meters, 2018 - 2030)

• Plastics

• Metals

Vacuum Insulation Panel Application Outlook (Revenue, USD Million, Volume in Million Square Meters, 2018 - 2030)

• Construction

• Cooling & Freezing Devices

• Logistics

• Others

Vacuum Insulation Panel Regional Outlook (Revenue, USD Million, Volume in Million Square Meters, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • Indonesia

  • Malaysia

  • Thailand

  • Australia

• Central & South America

  • Argentina

  • Brazil

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • Qatar

  • Oman

  • South Africa

List Of Key Players in the Vacuum Insulation Panel Market

• Evonik Industries AG

• LG Hausys Ltd

• Panasonic Corporation

• DOW

• OCI Ltd

• Kevothermal, LLC

• Porextherm Dämmstoffe GmbH

• Thermocor

• Va-Q-Tec AG

• Microtherm Sentronic GmbH