Vacuum Insulation Panels Market Overview:
Global Vacuum Insulation Panels Market was valued at $5,220 million in 2015, and is expected to reach at $8,829 million by 2022, growing at a CAGR of 7.9% from 2016 to 2022. Vacuum insulation panels (VIPs) are ultra-thin and high-performance insulants that are expected to be more preferred over traditional protection items. VIPs provide vitality proficiency, space benefits for home machines, temperature-controlled bundling, and refrigerated transportation frameworks.
The vacuum insulation panels market is segmented based on raw material, core material, type, and end-user industry. Based raw material, it is bifurcated into plastics and metal. By core materials, it is divided into silica, fiberglass, and others. Based on type, it is classified as flat panel and special shape panel. Based on end-user industry, it is categorized into construction, cooling & freezing devices, logistics, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The construction segment contributed highest revenue in 2015, owing to the maximum consumption of vacuum insulation panels in residential & underground constructions.
Vacuum Insulation Panels Market Segmentation
Top Investment Pocket
Construction is the most lucrative end-user industry for the market, owing to its increased demand in the construction industry. China, Japan, Korea, UAE, Qatar, and India are the major revenue contributors in Asia-Pacific and LAMEA. The New Guanjiao Tunnel, 32.6 km long in China; Delhi metro line from GTB Nagar-Qutub Minar in India; Yamate Tunnel of 18.2 km in Japan; Penang second highway bridge of 24 km in Malaysia, and Lanzhou-Xinjiang high-speed railway line of 19.3 km in China are few construction megaprojects that are expected to drive the market for vacuum insulation panels.
Vacuum Insulation Panels Market : Top Investment Pockets by End-user Industry
Silica-based panels accounted for approximately half of the share of the global market in 2015, as they offer high thermal insulation properties compared to other materials. The fiber-glass panels segment is anticipated to grow at rate of 7.8% during the forecast period, attributed to low thermal conductivity with high thermal efficiency.
Brazil and UAE capture around 65% of the market in LAMEA. Brazil and Qatar are anticipated to witness the highest growth rate during the forecast period, owing to the ongoing construction activities.
Brazil Vacuum Insulation Panels Market, 2014-2022 ($Million)
The key players operating in the global vacuum insulation panels market are Evonik Industries AG, LG Hausys Ltd., Panasonic Corporation, BASF SE, Rockwool International, Kingspan group LLC., Bridgestone, DOW Corning Corporation, Thermocor, and Microtherm.
The other players (not profiled in the report) operating in this market are OCI Company Ltd., Porextherm Dämmstoffe GmbH, OCI Company Ltd., Va-Q-Tec AG, Kevothermal LLC., and Porextherm Dämmstoffe GmbH.
- This report provides an extensive analysis of the global vacuum insulation panels market trends, future estimations, and dynamics from 2014 to 2022, which assist to identify the prevailing opportunities.
- Extensive market analysis predicts the applications that are currently used and the variants that are expected to gain prominence in the future.
- Detailed analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Key players are profiled and their strategies are analyzed thoroughly, which portrays the competitive market outlook.
Vacuum Insulation Panels Market Key Segments:
By Raw Material
By Core Material
- Flat Panel
- Special Shape Panel
By End-user Industry
- Cooling & Freezing Devices
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA