Vacuum Insulation Panels Market: Size, Share, Trends & Forecast (2024-2029)
The market report offers a detailed analysis segmented by Core Material (Silica, Fiberglass, Others); by Structure Type (Flat, Special Shape); by Application (Construction, Cooling and Freezing Devices, Logistics, Other Applications); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Outlook
- The vacuum insulation panels market is estimated to be at USD 8,888.51 Mn in 2024 and is anticipated to reach USD 11,294.81 Mn in 2029.
- The vacuum insulation panels market is registering a CAGR of 4.91% during the forecast period of 2024-2029.
- The global market growth for vacuum insulation panels (VIPs) is largely driven by the increasing emphasis on energy efficiency in both commercial and residential construction sectors, especially in Europe and Asia-Pacific.
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Ecosystem
- The participants in the global vacuum insulation panels industry are recognized for their innovative VIP solutions and extensive global reach to preserve a competitive advantage.
- These companies primarily use acquisitions, R&D, partnerships, and technological launches.
- Several important entities in the vacuum insulation panels market include Evonik Industries AG; Panasonic Corp. of North America; Knauf Insulation, d.o.o.; Morgan Advanced Materials Plc.; Microtherm NV; and others.
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Findings
| Attributes | Values |
|---|---|
| Historical Period | 2018-2022 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Market Size (2024) | USD 8,888.51 Mn |
| Market Size (2029) | USD 11,294.81 Mn |
| Growth Rate | 4.91% CAGR from 2024 to 2029 |
| Key Segments | Core Material (Silica, Fiberglass, Others); Structure Type (Flat, Special Shape); Application (Construction, Cooling and Freezing Devices, Logistics, Other Applications); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa) |
| Key Vendors | Evonik Industries AG; Panasonic Corp. of North America; Knauf Insulation, d.o.o.; Morgan Advanced Materials Plc.; Microtherm NV |
| Key Countries | The US; Canada; Mexico; Brazil; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Australia |
| Largest Market | Asia Pacific |
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Trends
- Development of Multi-Functional Panels: The push for multi-functional insulation materials is increasing. In 2023, Evonik Industries launched a project to develop VIPs that offer both insulation and fire-resistant properties for high-risk environments. This innovation expands the applications of VIPs in areas such as aerospace and defense.
- Ultra-Thin Panels: To enable their application across various sectors, thinner and more flexible VIPs have been developed. In 2023, Panasonic introduced an ultra-thin VIP that can be utilized in appliances such as refrigerators and other compact areas, thereby improving the consumer electronics sector’s innovations.
- Increased Research on Durability: Research into improving the durability of VIPs is becoming more prominent. In 2023, ETH Zurich conducted a study funded by the European Commission to develop a new protective coating for VIPs, aiming to enhance their resilience in harsh climates.
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Catalysts
- Demand in the Construction Sector: The construction industry is one of the largest consumers of VIPs, driven by the need for high-performance insulation materials that reduce energy costs. In 2023, the surge in green building projects, especially in regions like North America and Europe, significantly propelled the demand for VIPs.
- Stringent Energy Efficiency Regulations: Government-imposed regulations on energy performance, especially in construction and appliances, are propelling the demand for VIPs. In 2023, the European Union’s Energy Performance of Buildings Directive contributed significantly to the increased adoption of VIPs in construction projects across Europe.
- Fire Resistant VIP Technology: The market is growing primarily because manufacturers are developing more efficient and durable VIPs. For instance, the introduction of Evonik Industries’ new VIPs has increased fire resistance and durability, making them a more attractive option for high-rise buildings.
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Restraints
- Limited Availability of Raw Materials: It can be difficult to obtain the optimal quality of raw materials required for the manufacturing of VIP’s due to their limited availability. For example, Rockwool International A/S experienced delays in production in 2023, disrupted by geopolitics that had caused supply chain interruptions, eventually leading to delays in production.
- Recycling Concerns: The recycling of VIPs poses environmental challenges, as the materials used in their production are difficult to recycle. Germany initiated a study on sustainable disposal methods for VIPs in 2023, but widespread recycling solutions remain limited.
- High Production Costs: The high production costs of VIPs remain a significant challenge for manufacturers. Despite advancements in technology, the complex manufacturing process still makes VIPs more expensive compared to traditional insulation materials.
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Table of Contents
| 1.       Introduction 1.1.    Research Methodology 1.2.    Scope of the Study 2.       Market Overview / Executive Summary 2.1.    Global Vacuum Insulation Panels Market (2018 – 2022) 2.2.    Global Vacuum Insulation Panels Market (2023 – 2029) 3.       Market Segmentation 3.1.    Global Vacuum Insulation Panels Market by Core Material 3.1.1. Silica 3.1.2. Fiberglass 3.1.3. Others 3.2.    Global Vacuum Insulation Panels Market by Structure Type 3.2.1. Flat 3.2.2. Special Shape 3.3.    Global Vacuum Insulation Panels Market by Application 3.3.1. Construction 3.3.2. Cooling and Freezing Devices 3.3.3. Logistics 3.3.4. Other Applications 4.       Regional Segmentation 4.1.    North America 4.1.1. The US 4.1.2. Canada 4.1.3. Mexico 4.2.    South America 4.2.1. Brazil 4.2.2. Argentina 4.2.5. Rest of South America 4.3.    Asia Pacific 4.3.1. China 4.3.2. India 4.3.3. Japan 4.3.4. South Korea 4.3.5. Australia 4.3.6. Rest of Asia Pacific 4.4.    Europe 4.4.1. The UK 4.4.2. Germany 4.4.3. Italy 4.4.4. France 4.4.5. Spain 4.4.6. Rest of Europe 4.5.    The Middle East 4.5.1. Turkey 4.5.2. UAE 4.5.3. Saudi Arabia 4.5.4. Rest of the Middle East 4.6.    Africa 4.6.1. Egypt 4.6.2. South Africa 4.6.3. Rest of Africa 5.       Value Chain Analysis of the Global Vacuum Insulation Panels Market 6.       Porter Five Forces Analysis 6.1.    Threats of New Entrants 6.2.    Threats of Substitutes 6.3.    Bargaining Power of Buyers 6.4.    Bargaining Power of Suppliers 6.5.    Competition in the Industry 7.       Trends, Drivers and Challenges Analysis 7.1.    Market Trends 7.1.1.    Market Trend 1 7.1.2.    Market Trend 2 7.1.3.    Market Trend 3 7.2.    Market Drivers 7.2.1.    Market Driver 1 7.2.2.    Market Driver 2 7.2.3.    Market Driver 3 7.3.    Market Challenges 7.3.1.    Market Challenge 1 7.3.2.    Market Challenge 2 7.3.3.    Market Challenge 3 8.       Opportunities Analysis 8.1.    Market Opportunity 1 8.2.    Market Opportunity 2 8.3.    Market Opportunity 3 9.       Competitive Landscape 9.1.    Evonik Industries AG 9.2.    Panasonic Corp. of North America 9.3.    Knauf Insulation, d.o.o. 9.4.    Morgan Advanced Materials Plc. 9.5.    Microtherm NV 9.6.    Company 6 9.7.    Company 7 9.8.    Company 8 9.9.    Company 9 9.10.  Company 10 |
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Vacuum Insulation Panels Market – FAQs
1. What is the current size of the vacuum insulation panels market?
Ans. In 2024, the vacuum insulation panels market size is $8,888.51 Mn.
2. Who are the major vendors in the vacuum insulation panels market?
Ans. The major vendors in the vacuum insulation panels market are Evonik Industries AG; Panasonic Corp. of North America; Knauf Insulation, d.o.o.; Morgan Advanced Materials Plc.; Microtherm NV.
3. Which segments are covered under the vacuum insulation panels market segments analysis?
Ans. The vacuum insulation panels market report offers in-depth insights into Core Material, Structure Type, Application, and Geography.