Vacuum Insulation Panels Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, UK, Germany, Japan - Size and Forecast 2024-2028

Vacuum Insulation Panels Market Size 2024-2028

The vacuum insulation panels market size is forecast to increase by USD 1.96 billion at a CAGR of 4.5% between 2023 and 2028.

• The Vacuum Insulation Panels (VIP) market is experiencing significant growth due to increased urbanization and infrastructure development, particularly in emerging economies. This trend is driving demand for energy-efficient and cost-effective insulation solutions, making VIPs an attractive option for construction projects. However, the market is not without challenges. Price and material trends, including the rising cost of raw materials and increasing competition, are putting pressure on manufacturers to maintain profitability. Furthermore, the lack of efficient logistic support in some emerging economies presents a significant challenge for market expansion. To capitalize on opportunities and navigate these challenges effectively, companies in the VIP market must focus on innovation, cost reduction, and strategic partnerships.
• By improving production processes, developing new applications, and expanding their distribution networks, companies can differentiate themselves and capture a larger share of the market. Additionally, collaborating with governments and industry associations to promote energy efficiency and incentivize the adoption of VIPs can help create a favorable business environment and drive long-term growth.

What will be the Size of the Vacuum Insulation Panels Market during the forecast period?

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• Vacuum Insulation Panels (VIPs) have gained significant attention in the insulation market due to their advanced thermal properties. These panels utilize both gas diffusion and evacuated pressure to minimize heat transfer, making them more effective than conventional insulating materials. The core material's low gas permeability is crucial in maintaining the panels' insulating performance. Laminate films, facer foils, and heat transfer modeling are essential components in the manufacturing process. Thermal conductivity and air penetration are critical factors in evaluating VIPs' efficiency. An impermeable gas barrier, such as a laminate film, ensures the panels' longevity by preventing gas leakage. Quality control and analytical models are essential in assessing VIPs' service life.
• Ageing and radiative transfer are crucial factors affecting their performance over time. Solid conduction and getter materials, like nanoporous silicas, help maintain the panels' thermal properties. Vacuum Insulation Panels play a vital role in building construction, offering superior thermal insulating potential compared to traditional insulating materials. Desiccant and moisture penetration are essential considerations in their application. Thermal bridges, which can compromise insulation performance, must be carefully addressed. Despite their fragile nature, VIPs' thermal properties make them an attractive alternative for businesses seeking energy efficiency and reduced carbon emissions in their operations.

How is this Vacuum Insulation Panels Industry segmented?

The vacuum insulation panels industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Construction
  • Logistics
  • Cooling and freezing devices
  • Others
• Material
  • Silica
  • Fiberglass
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Middle East and Africa
  • APAC
    • China
    • Japan
  • South America
  • Rest of World (ROW)

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.

Vacuum insulation panels, a high-performance thermal insulation solution, have gained significant attention in the building construction industry due to their ability to reduce energy consumption and improve energy efficiency. In China, where energy consumption in buildings accounts for approximately one-third of the total energy consumption, the adoption of vacuum insulation panels is on the rise. The low thermal conductivity of these panels, which results in minimal heat transfer through solid conduction and thermal bridges, makes them an attractive option for energy-efficient building designs. The demand for energy-efficient buildings is increasing globally, driven by stringent energy regulations and growing awareness of sustainability.

This trend is expected to continue, leading to increased demand for vacuum insulation panels in the building construction sector. The panels' advanced thermal insulating potential, achieved through the removal of air and the use of high-performance materials such as nanoporous silicas and getter, makes them a valuable addition to the insulation solutions portfolio of specialized industries. The manufacturing process for vacuum insulation panels involves heat transfer modeling, quality assurance, and validation to ensure the panels meet the required thermal insulating potential and low gas permeability. The panels' impermeable gas barrier, which prevents the intrusion of moisture and air, further enhances their thermal insulating potential and service life.

The use of advanced technologies, such as energy-efficient technologies and analytical models, in the manufacturing process ensures the production of high-quality panels. Intellectual property rights play a crucial role in the market, with companies investing in research and development to innovate and differentiate their offerings. For instance, the development of high-barrier films, laminate films, and desiccant materials has led to the creation of value-added chain opportunities. The use of advanced materials and manufacturing techniques has also resulted in the creation of international awards and recognition for leading companies in the market. In conclusion, the market is poised for growth due to the increasing demand for energy-efficient buildings and the advanced thermal insulating potential of vacuum insulation panels.

The market's growth is driven by the adoption of innovative technologies, the development of high-performance materials, and the focus on improving energy efficiency and reducing energy consumption in buildings.

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The Construction segment was valued at USD 2.53 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 50% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market is witnessing significant growth, with APAC leading the charge. In 2023, APAC accounted for the largest market share, a trend that is anticipated to continue due to the region's high growth rate. The construction industry's expansion, driven by urbanization and increasing population, is a key factor fueling this growth. For instance, the World Bank Group reports that India's urban population rose from 31% to 34% between 2001 and 2011, necessitating the construction of more residential buildings and healthcare facilities. Vacuum insulation panels offer superior thermal insulating potential compared to conventional insulating materials.

They consist of a series of gas-filled pockets separated by thin, impermeable gas barriers. These barriers prevent the escape of gas, ensuring low thermal conductivity through solid conduction and radiative transfer. Moreover, the use of nanoporous silicas and desiccants enhances the panels' thermal insulating potential and moisture resistance. Quality control and validation play crucial roles in the manufacturing process of vacuum insulation panels. Test procedures ensure the panels meet specifications for thermal conductivity, air penetration, and service life. Intellectual property rights and innovation lead to continuous advancements in the technology, with VIP development resulting in high-barrier films and laminate structures.

In building construction, vacuum insulation panels are used in cold storage applications, heat storage systems, and insulation solutions for energy-efficient technologies. Their low gas permeability and thermal insulating potential make them an attractive alternative to conventional insulating materials. Additionally, their use in various industries, such as specialized industries and ageing infrastructure, further expands their market potential. Innovation continues to drive the market, with advancements in heat transfer modeling, heat physics, and analytical models contributing to improved performance and efficiency. National awards and international recognition further validate the technology's value in the market. Overall, the market is poised for continued growth, driven by its ability to provide superior thermal insulation and energy efficiency solutions.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Vacuum Insulation Panels Industry?

• Increased urbanization and investment in infrastructure development is the key driver of the market.

• The market is experiencing significant growth due to the increasing urban population and infrastructure development investments. With over 70% of the world's population projected to reside in urban areas by 2050, the demand for infrastructure development is escalating. This includes the construction of residential and non-residential projects, leading to a surge in demand for vacuum insulation panels for thermal insulation in various applications such as roofs, doors, windows, and walls.
• The global construction market is anticipated to reach approximately USD16 trillion by 2025, further fueling market expansion. Urbanization necessitates the development of public and private sector infrastructure, including schools, hospitals, and commercial buildings, which in turn increases the demand for vacuum insulation panels.

What are the market trends shaping the Vacuum Insulation Panels Industry?

• Price and materials trends is the upcoming market trend.

• Vacuum insulation panels offer superior insulation compared to traditional methods, with R-values significantly higher than conventional insulation. However, their cost is notably greater, averaging between USD10 and USD12 per panel, compared to USD6.90 for polystyrene. The price gap is expected to narrow, with the cost of vacuum insulation panels projected to reach USD3 to USD4 by the end of the forecast period. Research institutions are actively working on developing cost-effective foam board insulation, capable of achieving R-12 per inch.
• Another promising technology, modified atmosphere insulation, is undergoing testing and is anticipated to enter the market soon. Despite the higher initial investment, vacuum insulation panels' energy savings and long-term cost benefits make them an attractive option for energy-efficient buildings.

What challenges does the Vacuum Insulation Panels Industry face during its growth?

• Lack of efficient logistic support in emerging economies is a key challenge affecting the industry growth.

• The refrigerated warehousing and transportation market face challenges due to insufficient logistics support systems. This issue increases the likelihood of product recalls and food wastage, as cold chain logistics plays a crucial role in maintaining the integrity of temperature-sensitive goods. The companies in this market are required to adhere to stringent regulations during the transfer of items between producers and end-users, which involves continual handling and inter-state or inter-region transit. The lack of infrastructure facilities for logistics support contributes to the challenges in the refrigerated transportation market.
• To mitigate these issues, companies must invest in advanced logistics solutions and services to ensure the efficient and timely transfer of goods, thereby reducing product recalls and minimizing food wastage. Compliance with regulatory requirements is essential to maintain the quality and safety of temperature-sensitive goods throughout the supply chain.

Exclusive Customer Landscape

The vacuum insulation panels market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the vacuum insulation panels market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, vacuum insulation panels market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Alfatherm Insulations - Vacuum insulation panels, such as Slentite, serve as an effective solution for customized climate management. Slentite, an insulating material, offers superior thermal performance due to its unique vacuum insulation technology. This advanced insulation material is ideal for various industries requiring precise temperature control, including aerospace, pharmaceuticals, and food processing. By trapping air molecules in a near-perfect vacuum, Slentite significantly reduces heat transfer, ensuring optimal energy efficiency and consistent temperature maintenance. The company's commitment to innovation and sustainability drives the development and implementation of these advanced insulation solutions.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Alfatherm Insulations
• Avery Dennison Corp.
• BASF
• Bridgestone Corp.
• Etex NV
• Evonik Industries AG
• Hitachi Ltd.
• Kingspan Group Plc
• Knauf Digital GmbH
• LG Electronics Inc.
• Morgan Advanced Materials Plc
• NanoPore Inc.
• OCI Co. Ltd.
• Panasonic Holdings Corp.
• ROCKWOOL International AS
• Sealed Air Corp.
• Stiferite Spa
• Thermal Visions
• TURNA doo

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Vacuum Insulation Panels (VIPs) have gained significant attention in the insulation industry due to their exceptional thermal insulating potential. These panels utilize the principle of vacuum insulation to minimize thermal conductivity, thereby reducing heat transfer and enhancing energy efficiency. The market for VIPs is witnessing dynamic growth, driven by the increasing demand for energy-efficient insulation solutions in various specialized industries. One of the critical components of VIPs is the impermeable gas barrier, which prevents the entry of moisture and gases. The gas barrier plays a crucial role in maintaining the low gas permeability of the panels, ensuring their thermal insulating potential remains unaltered over an extended period.

The development of advanced high-barrier films and laminate films has been instrumental in enhancing the performance of VIPs. Thermal bridges, which are conduits for heat transfer, pose a significant challenge to the overall insulating performance of VIPs. The use of specialized materials, such as nanoporous silicas, in the core material of VIPs has been an effective solution to mitigate the impact of thermal bridges. Moreover, the design strategy of VIPs incorporates the use of evacuated pressure and heat storage to further improve their thermal insulating properties. Quality control is a critical aspect of the VIP manufacturing process. Test procedures have been established to ensure the validation of VIPs' thermal conductivity, air penetration, and service life.

Intellectual property rights and innovation leadership are essential factors that differentiate VIP manufacturers. The ageing of VIPs is a significant concern in the industry. Research on the impact of radiative transfer and heat transfer modeling is ongoing to understand the long-term performance of VIPs. Furthermore, the development of desiccant-based VIPs has shown promise in mitigating the effects of moisture penetration. The value-added chain of VIPs involves various entities, including raw material suppliers, manufacturers, and end-users. National awards and international recognition have been received by several companies for their contributions to the VIP industry. The use of VIPs extends beyond building construction to cold storage applications.

The low gas pressure required for their operation makes them an ideal choice for maintaining low temperatures while minimizing energy consumption. Despite their advantages, VIPs face challenges, such as their fragile nature and the complexity of their manufacturing process. Continuous innovation and improvement are essential to address these challenges and expand the market for VIPs. In conclusion, the VIP market is a dynamic and evolving industry, driven by the demand for energy-efficient insulation solutions. The use of advanced materials, such as nanoporous silicas and high-barrier films, and the development of innovative manufacturing processes are key to enhancing the performance and reducing the cost of VIPs.

The ongoing research on the impact of ageing and the expansion of applications beyond building construction are essential to the future growth of the VIP market.

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What are the Key Data Covered in this Vacuum Insulation Panels Market Research and Growth Report?

• CAGR of the Vacuum Insulation Panels industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the vacuum insulation panels market growth of industry companies

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