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Vacuum Insulation Panel Market Size (2024 - 2029)

The Vacuum Insulation Panel Market is projected to experience growth over the forecast period, driven by strong demand from the construction sector and the increasing use of these panels in automated storage and retrieval systems globally. Despite challenges such as high costs for non-standard sizes and the panels' heavy weight, the market is expected to benefit from stringent regulations favoring energy-efficient materials and research and development efforts aimed at reducing costs. The market's recovery post-COVID-19 disruptions further supports its expansion.

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Market Size of Vacuum Insulation Panel Industry

Vacuum Insulation Panel Market Summary
Study Period 2019-2029
Market Size (2024) USD 8.39 Billion
Market Size (2029) USD 10.92 Billion
CAGR (2024 - 2029) > 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Vacuum Insulation Panel Market Major Players

*Disclaimer: Major Players sorted in no particular order

Vacuum Insulation Panel Market Analysis

The Vacuum Insulation Panel Market size is estimated at USD 8.39 billion in 2024, and is expected to reach USD 10.92 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The COVID-19 pandemic negatively impacted the market due to the shutdown of manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.

  • Over the short term, robust demand from the construction industry and the adoption of vacuum insulation panels for automated storage and retrieval worldwide are factors driving the studied market's growth.
  • On the flip side, the high cost for non-standard sizes and the heavy weight of the panels will likely hinder the studied market's growth.
  • However, increasingly stringent regulations promoting energy-efficient materials and R&D initiatives to introduce automated panels to reduce vacuum insulation panel costs will likely provide opportunities for the market studied during the forecast period.

Vacuum Insulation Panel Industry Segmentation

A vacuum-insulated panel is a form of thermal insulation consisting of a gas-tight enclosure surrounding a rigid core from which the air is evacuated. It includes many applications in building construction, refrigerating units, and insulated shipping containers to provide better insulation performance than conventional insulation materials. The market is segmented based on the core material, structure type, application, and geography. The market is segmented by core material into silica, fiberglass, and other core materials. By structure type, the market is segmented into flat and special shapes. The market is segmented by application into construction, cooling and freezing devices, logistics, and other applications. The report offers market size and forecasts for 15 countries across major regions. Market sizing and forecasts for each segment are based on revenue (USD).

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 and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Vacuum Insulation Panel Market Size Summary

The vacuum insulation panel market is poised for significant growth, driven by robust demand from the construction industry and the increasing adoption of these panels for automated storage and retrieval systems globally. Despite the initial setbacks caused by the COVID-19 pandemic, which led to manufacturing shutdowns and supply chain disruptions, the market has shown resilience and is expected to expand steadily over the forecast period. The panels are highly valued for their superior thermal insulation properties, which contribute to energy efficiency in buildings. This has led to their widespread acceptance in the construction sector, where they offer benefits such as reduced thickness of building components, optimization of indoor space, and recyclability. However, challenges such as the high cost of non-standard sizes and the weight of the panels may impede market growth. Nonetheless, stringent regulations promoting energy-efficient materials and ongoing research and development efforts to reduce costs are anticipated to create new opportunities for the market.

The Asia-Pacific region currently dominates the global vacuum insulation panel market, with significant investments in residential and commercial construction activities in countries like China, India, and others. The region's growth is fueled by rising household incomes, urbanization, and government initiatives to enhance infrastructure, such as airport and industrial cluster developments. These factors are expected to drive the demand for vacuum insulation panels, as they align with the increasing emphasis on energy-efficient and eco-friendly construction materials. The market is characterized by its fragmented nature, with key players like Evonik Industries AG, Panasonic Corporation, and others actively participating in expanding their product offerings and geographic reach. Recent strategic moves, such as acquisitions and the establishment of automated production facilities, further underscore the dynamic nature of the market, positioning it for continued growth in the coming years.

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Vacuum Insulation Panel Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Robust Demand from Construction Industry

      2. 1.1.2 Adoption of Vacuum Insulation Panel for Automated Storage and Retrieval

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High Cost of VIPs for Non-standard Sizes

      2. 1.2.2 Heavy Weight of Vacuum Insulation Panels

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Core Material

      1. 2.1.1 Silica

      2. 2.1.2 Fiberglass

      3. 2.1.3 Other Core Materials

    2. 2.2 Structure Type

      1. 2.2.1 Flat

      2. 2.2.2 Special Shape

    3. 2.3 Application

      1. 2.3.1 Construction

      2. 2.3.2 Cooling and Freezing Devices

      3. 2.3.3 Logistics

      4. 2.3.4 Other Applications

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Vacuum Insulation Panel Market Size FAQs

The Vacuum Insulation Panel Market size is expected to reach USD 8.39 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 10.92 billion by 2029.

In 2024, the Vacuum Insulation Panel Market size is expected to reach USD 8.39 billion.

Vacuum Insulation Panel Market Report Snapshots

Vacuum Insulation Panel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)