Vacuum Insulation Panel Market - Growth, Trends, and Forecast (2019 - 2024)

The Market is Segmented by Core Material (Silica, Fiberglass, and Other Core Materials), Structure Type (Flat and Special Shape), Application (Construction, Cooling and Freezing Devices, Logistics, and Other Applications), and Geography.

Market Snapshot

Vacuum Insulation Panel Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for vacuum insulation panels (VIPs) is expected to register a CAGR of around 5.6%, during the forecast period (2019-2024). The major factors driving the growth of the market studied are the robust demand from the construction industry, and adoption of VIPs for automated storage and retrieval across the world. On the flipside, high cost for non-standard sizes, and heavy weight of the panels are likely to hinder the growth of the market studied.

  • By structure type, the flat segment dominated the market in 2018. It is expected to grow during the forecast period. Growth of the segment is driven by the design flexibility and ease-to-manufacture attributes of flat panels.
  • Increasing stringent regulations promoting the energy-efficient materials, and R&D initiatives to introduce automated panels, with an aim to reduce VIPs cost, are likely to provide opportunities for the market studied,  during the forecast period.
  • Asia-Pacific dominated the global market, owing to the robust demand for VIPs from the construction, as well as logistics and warehouse industries.

Scope of the Report

The scope of the vacuum insulation panel market report includes:

Core Material
Silica
Fiberglass
Other Core Materials
Structure Type
Flat
Special Shape
Application
Construction
Cooling and Freezing Devices
Logistics
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Construction Segment to Witness Strong Growth

  • Among various nonconventional insulations being introduced to the construction industry, as the next-generation thermal insulation, VIPs appear to be one of the most promising insulation materials with the highest thermal insulating capacity.
  • VIPs also offer 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.
  • Hence, all such attractive properties have made VIPs popular for application in the construction sector.
  • Moreover, the rising number of building codes and policies mandating energy-efficient structures is further facilitating an increase in the usage of eco-friendly and energy conserving materials in the construction sector. This is likely to increase the application of VIPs in the construction industry, during the forecast period.
  • The global construction industry grew by about 3.5% during 2018. Residential and commercial construction has been increasing significantly across the world, further driving the demand for VIPs for construction application.
  • The Asia-Pacific and North American regions have been witnessing strong growth in residential construction, which is likely to increase the demand for VIPs for residential application during the forecast period.
  • Additionally, regions like, Asia-Pacific and the Middle East & Africa, are attracting huge domestic, as well as foreign investments for setting up industrial units, hospitals, malls, multiplexes, hotels, as well as in the IT sector, which may add to the demand for VIPs.
  • Hence, the aforementioned trends in the construction industry are expected to drive the growth of the VIPs market, during the forecast period.
Vacuum Insulation Panel Market - Segmentation Trends

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share, in 2018. With growing investments into the residential and commercial construction in the countries, such as India, China, the Philippines, Vietnam, and Indonesia, the market for VIPs is expected to grow in the coming years.
  • Currently, there are several airport construction projects, either in development or planning stage, in China. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Besides, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities, over the next 10 years.
  • In India, the government’s target for investing USD 120.5 billion, for developing 27 industrial clusters, is expected to boost commercial construction in the country.
  • In Indonesia, the government planned to invest about USD 450 billion in the construction sector,  by 2021, which is expected to provide a boost to residential construction in the country.
  • Hence, all such investments and planned projects in the Asia-Pacific countries are providing a boost to construction activities in the region, which are anticipated to drive the demand for VIPs in the region, during the forecast period.
Vacuum Insulation Panel Market - Regional Trends

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Competitive Landscape

The vacuum insulation panel market is fragmented in nature, with numerous players holding an insignificant market share, to affect the market dynamics individually. Some of the major players in the market include Evonik Industries AG, Panasonic Corporation, DOW Corning Corporation, LG Hausys Ltd, and OCI Company Ltd, among others.

Major Players

  1. Evonik Industries AG
  2. Panasonic Corporation
  3. DOW Corning Corporation
  4. Knauf Insulation
  5. OCI Company Ltd

* Complete list of players covered available in the table of contents below

Vacuum Insulation Panel Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Robust Demand from Construction Industry

      2. 4.1.2 Adoption of VIPs for Automated Storage and Retrieval

    2. 4.2 Restraints

      1. 4.2.1 High Cost of VIPs for Non-standard Sizes

      2. 4.2.2 Heavy Weight of Vacuum Insulation Panels

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

      1. 4.5.1 Production Process

      2. 4.5.2 Technology Licensing and Patent Analysis

    6. 4.6 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Core Material

      1. 5.1.1 Silica

      2. 5.1.2 Fiberglass

      3. 5.1.3 Other Core Materials

    2. 5.2 Structure Type

      1. 5.2.1 Flat

      2. 5.2.2 Special Shape

    3. 5.3 Application

      1. 5.3.1 Construction

      2. 5.3.2 Cooling and Freezing Devices

      3. 5.3.3 Logistics

      4. 5.3.4 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Chuzhou Yinxing Electric Co. Ltd

      2. 6.4.2 Csafe Global

      3. 6.4.3 Dow Corning Corporation

      4. 6.4.4 Evonik Industries AG

      5. 6.4.5 Fujian SuperTech Advanced Material Co. Ltd

      6. 6.4.6 Avery Dennison

      7. 6.4.7 KCC Corporation

      8. 6.4.8 Kevothermal LLC

      9. 6.4.9 Kingspan Insulation Ltd

      10. 6.4.10 Knauf Insulation

      11. 6.4.11 LG Hausys Ltd.

      12. 6.4.12 Morgan Advanced Materials

      13. 6.4.13 OCI Company Ltd

      14. 6.4.14 Panasonic Corporation

      15. 6.4.15 Promat

      16. 6.4.16 Thermal Vision Inc.

      17. 6.4.17 TURNA DOO

      18. 6.4.18 Va-Q-Tec AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Shift from Traditional Solvent-borne Technologies to Newer Technologies

**Subject to Availability

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