Global Vacuum Insulation Panels Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Vacuum insulation panels Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global vacuum insulation panels market report has been segmented on the basis of raw material, core material, product type, application, and region.
Global Vacuum Insulation Panels Market: Overview
Vacuum insulation panel is a type of thermal insulation that contains a gas-tight enclosure surrounding a rigid core, from which the air has been removed. It does not have thermal conductivity. It is thin and lightweight resulting in a reduction of the size and weight of the box. It is the most efficient thermal panel even if its performances are reduced by thermal bridges. Commonly, it is used for construction, temperature control shipments, refrigerators, cryogenic equipment, etc.
Global Vacuum Insulation Panels Market: Dynamics
Growing construction activities and increasing use of a vacuum insulation panel in construction are major factors driving growth of the global vacuum insulation panels market. Vacuum insulation panels are made with seventy-five percent of recyclable material; it is completely recyclable. It is also a restriction of hazardous substances (RoHS) competent and comes under global warming potential (GWP) material. Growing environmental concerns among individuals is another factor anticipated to support growth of the global market. Moreover, growing packaging and consumer appliances industry is a factor expected to boost growth of the global vacuum insulation panels market in the near future.
However, the high cost of vacuum insulation panels may hamper growth of the global market. in addition, short life span of vacuum insulations panels is another factor that could affect its growth in the global market. Nevertheless, complex government regulation regarding insulation of the buildings and commercial complexes is a factor that can create high revenue opportunities for players in the target market.
Global Vacuum Insulation Panels Market: Segment Analysis
Currently, among the core material segments, the silica segment accounts for significant share in terms of revenue and expected to maintain its position in the near future. Increasing use of silica based insulation panels for freezing and cooling application is a key factor supporting growth of this segment in the global market.
Among the application segments, the construction segment dominates the global market in terms of revenue and anticipated to register high growth over the forecast period. Growing construction activities in developing countries is a factor expected to drive growth of the global vacuum insulation market.
Global Vacuum Insulation Panels Market: Regional Analysis
The market in Asia Pacific expected to accounts for major share in terms of revenue over the forecast period. Growing infrastructure coupled with growing manufacturing industries such as packaging, automotive, logistics are factors expected to fuel growth of the target market in this region. In addition, increasing construction activities especially in emerging economies such as China and India is another factor anticipated to propel growth of the vacuum insulation panel market in the Asia Pacific region. The market in North America is anticipated to account for second-highest share in terms of revenue in the global market, followed by Europe, Latin America, and Middle East and Africa.
Global Vacuum Insulation Panels Market Segmentation:
Segmentation by Raw Material:
- Others (Microfleece and Glass)
Segmentation by Core Material:
- Others (Polyurethane Board, Aerogel, etc.)
Segmentation by Product Type:
- Special Shape
Segmentation by Application:
- Cooling and Freezing Devices
- Others (Automotive, Packaging, etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Evonik Industries AG
- LG Hausys, Ltd.
- Panasonic Corporation
- DOW Corning
- OCI Company Ltd.
- Kevothermal, LLC
- Porextherm Dämmstoffe GmbH
- va-Q-tec AG
- Microtherm GmbH
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