Global Vacuum Insulation Market – Industry Trends and Forecast to 2029

Market Analysis and Size

The vacuum insulated panels have largely witnessed popularity across the globe owing to its ability to conserve energy but also help to reduce carbon dioxide emissions. For instance, the international organizations, such as the International Energy Agency, have promoted and advised the use of vacuum insulated panels to reduce carbon emissions. As a result of these factors, the vacuum insulated panels market is expected to grow at a rapid pace over the forecast period as well.

Global vacuum insulation market was valued at USD 7.80 billion in 2021 and is expected to reach USD 11.84 billion by 2029, registering a CAGR of 5.36% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Market Definition

A vacuum insulation panel (VIP) is a flat element that consists of an open porous core material that withstands the external load caused by atmospheric pressure and a gas-tight envelope to maintain the required vacuum quality. It is ideal for transporting heat-sensitive products in extreme conditions such as long periods of time and high temperatures. It has a low insulation thickness and high thermal insulation performance. As a result, vacuum insulation panel is widely used across the construction and logistics industries around the world.

Vacuum Insulation Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• High Demand Across Construction Industry

The growing demand of vacuum insulation will lead to the growth of the construction industry is estimated to carve a way for the growth of the market. It is used in a variety of applications such as building construction, refrigeration units, and insulated shipping containers to provide better insulation performance than conventional insulation materials. The global vacuum insulation panels market is being driven by significantly expanding construction sector.

• Increased Utilization Across Cooling and Freezing Applications

Moreover, refrigerated transport of pharmaceutical products and medicines around the world has been contributing to the recent rapid growth of the vacuum insulated panels market. Furthermore, with rapidly increasing quantities of frozen food being transported across vast distances, requiring thermal insulation for extended periods of time, the cold storage and frozen transportation industry has seen an increase in demand for vacuum insulated panels.

Furthermore, the rapid industrialization and urbanization have increased demand for the construction industry. Furthermore, the large population, presence of highly developed marine transportation infrastructure coupled with the heavy weight of vacuum insulation panels have accelerated the growth of the vacuum insulation panels market.

Opportunities

• Stringent Regulations and Adoption of Automated Insulation

Furthermore, the introduction of strict regulations by the government and other agencies regarding the conservation of energy extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the adoption of vacuum insulation in automated storage and retrieval will further expand the future growth of the vacuum insulation market.

Restraints/Challenges

• High Costs

The vacuum insulated panels must be custom built and designed in specific sizes for certain applications, which results in higher costs for end users and lower sales volumes. Therefore, the high cost of VIPs for non-standard sizes will create hindrances for the growth of the vacuum insulation market.

• Heavy Weight

Also, the heavy weight of vacuum insulation panels will prove to be a demerit for the vacuum insulation market. Therefore, this will challenge the vacuum insulation market growth rate.

This vacuum insulation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vacuum insulation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Vacuum Insulation Market

The recent outbreak of coronavirus had a negative impact on the vacuum insulation market. The pandemic had a significant impact on the global economy, with devastating effects on global trade, affecting households, businesses, financial institutions, industrial establishments, and infrastructure companies all at the same time. The spread of COVID-19 has significantly reduced construction activities worldwide, affecting the overall vacuum insulation panel market volume in 2020. The building materials sector has seen a significant drop in terms of trade due to lockdown restrictions in various countries, which hampered manufacturing operations during the pandemic. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. The disruption in logistics made raw material procurement difficult. The spread of COVID-19 in China had a significant impact on this market, as it is the largest manufacturer of vacuum insulation panels.

On the other hand, despite the fact that pandemic is expected disrupted the entire building and construction industry, most Asian countries have begun planning to resume their business and lives after COVID-19. Following the lockdown, most economic activity and construction activities in China have recovered. Most companies are expected to ramp up infrastructure construction following the pandemic situation in order to maintain revenue growth. Building construction in various developed and developing countries such as Germany, the United States, and India increased by 20.4 percent in May 2020 compared to April 2020. Civil engineering projects will increase by approximately 22.4 percent. Consequently, the market is the estimated to regain the losses due to continuation of various activities.

Global Vacuum Insulation Market Scope

The vacuum insulation market is segmented on the basis of raw material, core material, type and end-user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Raw Material

• Plastics
• Metals

Core Material

• Silica
• Fiberglass
• Others

Type

• Flat Panel
• Special Shape Panel

End-User Industry

• Construction
• Cooling and Freezing Devices
• Logistics
• Others

Vacuum Insulation Market Regional Analysis/Insights

The vacuum insulation market is analyzed and market size insights and trends are provided by country, raw material, core material, type and end-user industry as referenced above.

The countries covered in the vacuum insulation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the development of infrastructure industry and construction industry, rapid urbanization along with rising investment by the government for infrastructure project within the region.

North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing growth of construction industry within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Vacuum Insulation Market Share Analysis

The vacuum insulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vacuum insulation market.

Some of the major players operating in the vacuum insulation market are

• BASF SE (Germany)
• M&I Materials Limited (U.K)
• Morgan Advanced Materials (U.K.)
• Evonik Industries AG (Germany)
• LG Hausys (South Korea)
• Panasonic Corporation (Japan)
• Dow (U.S.), OCI Company Ltd. (Korea)
• Kevothermal (Mexico)
• Morgan Advanced Materials (Germany)
• ThermoCor (U.S.)
• Va-Q-Tec AG (Germany)
• AVERY DENNISON CORPORATION (U.S.)
• Kingspan Group (Ireland)
• KCC CORPORATION (South Korea)
• Microtherm Sentronic GmbH (Belgium) 

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