Vacuum Insulation Panel Market Global Forecast Report by Types (Flat Panel, Special Shape Panel), Raw Materials (Plastics, Metal), Core Materials (Silica, Fiberglass, Others), Application (Construction, Cooling and Freezing Devices, Logistics, Others), Co

Vacuum Insulation Panel Market Global Forecast Report by Types (Flat Panel, Special Shape Panel), Raw Materials (Plastics, Metal), Core Materials (Silica, Fiberglass, Others), Application (Construction, Cooling and Freezing Devices, Logistics, Others), Countries and Company Analysis 2024-2032

Vacuum Insulation Panel Market Size

The Vacuum Insulation Panel market is expected to reach US$ 8.53 Billion in 2023 to US$ 13.10 Billion by 2032, with a CAGR of 4.88 % from 2024 to 2032. A number of factors are contributing to the market's positive outlook, including the growing demand for cold chain logistics, the trend toward electric vehicles, the growing awareness of sustainable building practices, strict regulations promoting energy efficiency, advancements in manufacturing technologies, the trend toward modular construction, and the pharmaceutical industry's significant growth.

Global Vacuum Insulation Panel Overview

The increased focus on cold capacity in transportation and increased development activity are driving growth in the worldwide vacuum insulation panel market. Development interest is being driven by rapid urbanization and industrialization. Additionally, the need for improved structural protection is being driven by environmental change. Celebrities are drawn to places with state-of-the-art marine transportation foundations, especially those in developing and emerging nations. Growing working class wages, urbanization, and population growth are creating more opportunities for VIPs. In order to save energy and create more room, vacuum installation panels are also frequently utilized in home appliances like refrigerators and coolers.

Compared to other available materials, vacuum insulation panels provide highly preferable protection. They are protected by a vacuum, which enables them to achieve low U-values with minuscule thickness. They are therefore excellent for enhancing protection during redesigns. But the market isn't growing because of their higher cost when compared to traditional protection, vulnerability to damage, which increases heat transmission, and decreased durability with time. Additional benefits of vacuum protection boards in development include more interior space, thinner structural elements, and recyclable nature.

China, India, and the United States are likely to be the main drivers of the global construction sector, which is predicted to reach USD 8 trillion by 2030, according to a report by the Institution of Civil Engineers (ICE).

Growth Drivers for the Vacuum Insulation Panel Market

Raising public awareness of sustainable building techniques

The global market for vacuum insulation panels is being driven by rising awareness of and incorporation of sustainable construction methods. VIPs are becoming more and more popular in the construction sector because of their outstanding thermal insulation qualities, which enable buildings to meet more stringent energy efficiency requirements. The global market for vacuum insulation panels is driven by initiatives and legislation that support energy-efficient building practices, which is ensured by concerns about long-term sustainability. Utilizing solar panels also results in less energy being used for heating and cooling, which lowers carbon emissions. Thus, architects, builders, and developers are using these materials in an attempt to obtain green building certification and adhere to stringent environmental requirements.

Growing progress in technology

Technological developments in manufacturing facilitate the expansion of the vacuum insulation panel market worldwide. VIPs have been around for a while now, and throughout that time, materials and manufacturing processes have advanced dramatically to improve panel performance, price, and durability. Producers are now able to build VIPs with a lower thickness and a higher thermal profile because to advanced manufacturing techniques including vacuum sealing, barrier film selection, and core material selection. Their rising ubiquity in a variety of areas has been fueled by these considerations. Furthermore, automation and manufacturing economies of scale have reduced total costs for VIPs and made them competitive with conventional insulation materials.

Vacuum Insulation Panel Market Overview by Regions

Global demand for vacuum insulation panels is being driven by a confluence of factors including regulatory requirements, sustainability trends, and technological improvements. Due to regional differences in industry methods and economic situations, every region offers different opportunities and problems. An overview of the market by region is given below:

North America Vacuum Insulation Panel Market

United States

Growing energy efficiency rules in the refrigeration and construction industries are propelling the US vacuum insulation panel market's notable expansion. Advanced insulation technologies and environmentally friendly building materials are in greater demand, especially for residential and commercial applications. To improve performance, major players are concentrating on sustainability and innovation. Government incentives and the increased public awareness of energy conservation are also driving the use of vacuum insulation panels in a variety of industries.

The US Census Bureau estimates that the value of commercial building in the country was USD 114.79 billion in 2022, a 17.63% rise from the year before.

Europe Vacuum Insulation Panel Market

Germany

Due to strict energy efficiency rules and a strong dedication to sustainable building techniques, the market for vacuum insulation panels in Germany is growing. The construction industry, which prioritizes energy-saving solutions in new projects and renovations, is the main driver of the market for VIPs. VIPs are being used more frequently by important industries, such as logistics and refrigeration, to improve thermal performance. As the market grows, material technology advancements and an emphasis on environmentally friendly solutions help to establish Germany as a leader in the European vacuum insulation panel market.

Asia Pacific Vacuum Insulation Panel Market

India

India's market for vacuum insulation panels is expanding quickly thanks to increased urbanization and awareness of energy efficiency. Adoption is being driven by rising demand in the cold chain and construction industries. The market is further enhanced by government initiatives that support sustainable building standards, which promote VIPs as a crucial energy-saving measure.

Furthermore, in January 2022, the Indian government authorized the construction of 21 new airports. The Gautam Buddha Nagar region of Uttar Pradesh hosted the nation's largest airport. In the upcoming years, the Ministry of Civil Aviation plans to construct 21 more airports all over India.

In addition, the Airports Authority of India (AAI) intends to invest USD 338 million over the course of the next four to five years to build new airports as well as expand and modernize numerous current ones. It includes building new terminals, enlarging and modifying existing ones, and bolstering or expanding the runways, aprons, technical blocks, and control towers of the Airport Navigation Services.

Moreover, three public-private partnership (PPP) airports—in Hyderabad, Bengaluru, and Delhi—are planning to invest INR 30,000 crore (USD 3810 million) in expansion by 2025. Consequently, the market for vacuum insulation panels will see an increase in demand.

The government of India plans to invest USD 120.5 billion in creating 27 industrial clusters, which should stimulate the nation's commercial building industry.

As a result, all of these planned and invested projects in the Asia-Pacific region are increasing the region's building activity, which is expected to fuel the need for vacuum insulation panels during the course of the projected period.

Middle East & Africa Vacuum Insulation Panel Market

Saudi Arabia

The market for vacuum insulation panels in Saudi Arabia is driven by the country's expanding real estate developments, rising residential property demand, and government measures to build socioeconomic infrastructure. Over the next five years, the Kingdom of Saudi Arabia intends to build 300,000 additional housing units, according to Minister of Housing Majid Al-Hogail. Housing is one of Saudi Arabia's major Vision 2030 goals. The country's construction sector would probably produce demand for the vacuum insulation panel market in the next years.

Algae Products Company Analysis

The major participants in the Vacuum Insulation Panel market includes Csafe, Avery Dennison Corporation, BASF SE, Etex Building Performance NV (Etex Group), Evonik Industries AG (RAG-Stiftung), Kingspan Group plc., Knauf Insulation, Morgan Advanced Materials, Va-Q-Tec AG.

Vacuum Insulation Panel Company News

In February 2024, The Virginia Innovation Partnership Corporation (VIPC) awarded Virginia Commonwealth University (VCU) a $75,000 grant to support Dr. Massimo Bertino's research. The purpose of the award is to improve the commercial viability of vacuum protection boards, or celebrities, which are renowned for their exceptional protection but high molding costs and difficulty. Together with ThermaGEL Innovations, VCU has developed a licensed Aerogel center for celebrities, which makes them easier to work with and more versatile without the need for hardware. Because of its unique qualities, such as strength, insulation, and heat protection, aerogel is a viable option for a variety of industries, indicating a higher rate of market penetration for this breakthrough.

In January 2024, Combining LuxWall's superior vacuum-protected coating with ClearVue's sun-oriented PV coating, the two companies will work together to build and market the most memorable window in history. LuxWall is a US-based vacuum-insulated coating provider. Combining the cutting-edge developments of the two businesses into a single product is intended to bring window innovation that will support the development region in reaching net zero energy use.

In October 2023, In order to expedite the development of gas arrangements with 0% abnormal weather change potential in the high-voltage power transmission industry, Siemens Energy and Mitsubishi Electric signed a Memorandum of Understanding.

Types- Industry is divided into 2 viewpoints:

1. Flat Panel
2. Special Shape Panel

Raw Materials- Industry is divided into 2 viewpoints:

1. Plastics
2. Metal

Core Materials- Industry is divided into 3 viewpoints:

1. Silica
2. Fiberglass
3. Others

Application- Industry is divided into 4 viewpoints:

1. Construction
2. Cooling and Freezing Devices
3. Logistics
4. Others

Countries- Industry is divided into 25 viewpoints:

North America

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherlands
• Turkey

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Malaysia
• Indonesia
• New Zealand

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• Saudi Arabia
• United Arab Emirates

All companies have been covered with 5 Viewpoints

1. Overviews
2. Key Person
3. Recent Developments & Strategies
4. Product Portfolio & Product Launch in Last 1 Year
5. Revenue

Company Analysis

1. Csafe
2. Avery Dennison Corporation
3. BASF SE
4. Etex Building Performance NV (Etex Group)
5. Evonik Industries AG (RAG-Stiftung)
6. Kingspan Group plc.
7. Knauf Insulation
8. Morgan Advanced Materials
9. Va-Q-Tec AG