According to the recent study the vacuum insulation panel market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by growing construction activities, increase in demand for cold storage containers in the transportation sector, and stringent regulations promoting the energy-efficient materials.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in vacuum insulation panel market by raw material (plastics and metals), core material (silica, fiberglass, and others), product type (flat panels and special shape panels), end use industry (construction, cooling & freezing devices, logistics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Metals market is expected to remain the largest segment during the forecast period.”
Based on raw material, the vacuum insulation panel market is segmented into plastics and metals. Lucintel forecasts that the metals market is expected to remain the largest segment due to the increasing demand for insulated panel in the construction industry and growing need for refrigerated & processed foods.
“Within the vacuum insulation panel market, the construction segment is expected to remain the largest end use industry”
Based on end use industry the construction segment is expected to witness the highest growth over the forecast period due to the increasing demand for vacuum insulation panels in residential and underground constructions. It also offers other advantages in the construction sector, like the reduced thickness of building components, providing increased indoor space and optimization of land use, and recyclability of constitutive materials after their service life.
“Asia pacific will dominate the vacuum insulation panel market in near future”
APAC will remain the largest region due to the robust demand for VIPs (very important people) from the construction, as well as logistics & warehouse industries, and developing infrastructure industry in China.
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Major players of vacuum insulation panel market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Evonik Industries, LG Hausys, Panasonic Corporation, BASF, Rockwool International, Kingspan Group, DOW Corning Corporation, Thermocor, and Microtherm are among the major vacuum insulation panel providers.
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