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Based on Technavio's market sizing methodology, the vacuum insulation panels market size is predicted to surge by USD 1.82 billion from 2021 to 2026 at a CAGR of 4.23%.
This vacuum insulation panels market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers vacuum insulation panels market segmentation by:
The vacuum insulation panels market vendors are - Alfatherm Insulations, Avery Dennison Corp., BASF SE, Bridgestone Corp., Etex NV, Evonik Industries AG, Kingspan Group Plc, Knauf Gips KG, LG Electronics Inc., Morgan Advanced Materials Plc, NanoPore Inc., OCI Co. Ltd., Panasonic Corp., ROCKWOOL International AS, Sealed Air Corp., Stiferite Spa, Thermal Visions, TURNA doo, Va Q tec AG, and Hitachi Ltd. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increased urbanization and investment in infrastructure development is notably driving the vacuum insulation panels market growth, although factors such as lack of efficient logistic support in emerging economies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vacuum insulation panels industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Vacuum Insulation Panels Market Driver
One of the key factors driving growth in the vacuum insulation panels market is the increased urbanization and investment in infrastructure development. The growth in urbanization and increased investments in infrastructure development are driving the global vacuum insulation panels market. The global urban population is expected to rise to more than 70% by 2050. This will boost the need for infrastructure development, thereby increasing the construction of residential and non-residential projects. The growth in urbanization creates a huge demand for the development of public and private sector infrastructure, such as schools, hospitals, residential buildings, and commercial buildings. Developing countries have witnessed a rise in the per capita income of the people. The demand for vacuum insulation panels is increasing due to the changes in lifestyles (increased consumption of frozen food products and use of cooling equipment) and the need for housing. The growth in the global construction industry is also driving the demand for vacuum insulation panels.
Key Vacuum Insulation Panels Market Trend
The price and materials market trends in the vacuum insulation panels market is expected to have a positive impact in the coming years. The cost of vacuum insulation panels is significantly more than that of conventional insulation with similar R-values. Another technology named modified atmosphere insulation is in the testing phases and is expected to be introduced in the market soon. The technology works by draining all the air out of the panels and sealing it tightly. This is expected to reduce the cost of vacuum insulation panels by 40%. Silica aerogels are so far the best materials known for the core of vacuum insulation panels. The main disadvantage associated with aerogels is the production cost and lack of mechanical strength required for vacuum insulation panel application. The high cost of silica gels, when compared with traditional insulation materials, restricts its use in appliances and large structures. Glass fiber, which is now commonly used in vacuum insulation panels, was introduced due to its comparatively lower cost. Thus, the dropping price of vacuum insulation panels and increasing use of fiberglass in vacuum insulation panels will boost the growth of the market in focus.
Key Vacuum Insulation Panels Market Challenge
The lack of efficient logistic support in emerging economies will be a major challenge for the vacuum insulation panels market during the forecast period. An efficient logistics support system can reduce the chances of product recalls and food wastage in the market resulting from the shortage of cold chain logistics solutions and services. The lack of infrastructure facilities affects the refrigerated transportation market. Cold chain logistics begins with the transfer of food items from the producer to the end-user and involves continual point-to-point handling between the different intermediaries. It also involves inter-state and inter-region transit of food items or products. Therefore, vendors in the market are obliged to comply with stringent government regulations that are implemented in the regions of transit. Any anomaly in the entire process of the cold chain could result in the cold chain logistics process being invalidated. Therefore, the lack of efficient logistics support is proving to be a hindrance to the growth of the refrigerated warehousing market and is, in turn, affecting the growth of the global vacuum insulation panels market.
This vacuum insulation panels market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global vacuum insulation panels market as a part of the global diversified metals and mining market within the global materials market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the vacuum insulation panels market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the vacuum insulation panels market encompasses successful business strategies deployed by the key vendors. The vacuum insulation panels market is fragmented and the vendors are deploying growth strategies such as adopting expansion strategies in order to increase their shares to compete in the market.
basf.com - The company offers vacuum insulation panels such as Slentite which is an insulating material for customized climate management.
basf.com - Through the chemicals segment, the company includes petrochemicals and intermediates divisions.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vacuum insulation panels market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the vacuum insulation panels market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for vacuum insulation panels in APAC. Market growth in this region will be faster than the growth of the market in the European and North American regions.
Rapid urbanization is driving higher investments in infrastructure, which fuels the growth of the construction industry in the region. Furthermore, the growth in the urban population drives the need for residential buildings and healthcare facilities. This will facilitate the vacuum insulation panels market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The vacuum insulation panels market in Asia witnessed a slow growth in 2020 due to the outbreak of COVID-19. Countries such as China and India were severely affected by the pandemic in 2020. The high incidence of COVID-19 in countries across the region led to the imposition of stringent lockdowns during the first few months of 2020. However, the initiation of mass COVID-19 vaccination drives helped control the spread of the disease and the economy of the region also started gaining traction in the first half of 2021. The market is expected to gain momentum during the forecast period owing to rising construction activities and increasing demand for cold storage in the food industry.
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The vacuum insulation panels market share growth by the construction segment will be significant during the forecast period. Vacuum insulation panels have a range of applications in the construction industry. The demand for energy-efficient buildings has increased substantially in recent years, and this trend will continue in the future, which will boost the growth of the global vacuum insulation panels market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the vacuum insulation panels market size and actionable market insights on post COVID-19 impact on each segment.
Vacuum Insulation Panels Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.23% |
Market growth 2022-2026 |
$ 1.82 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.56 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Alfatherm Insulations, Avery Dennison Corp., BASF SE, Bridgestone Corp., Etex NV, Evonik Industries AG, Kingspan Group Plc, Knauf Gips KG, LG Electronics Inc., Morgan Advanced Materials Plc, NanoPore Inc., OCI Co. Ltd., Panasonic Corp., ROCKWOOL International AS, Sealed Air Corp., Stiferite Spa, Thermal Visions, TURNA doo, Va Q tec AG, and Hitachi Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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