SAN FRANCISCO, June 27, 2016 /PRNewswire/ --
The global Vacuum Insulation Panel Market is expected to reach USD 9.07 billion by 2024, according to a new report by Grand View Research, Inc. Growing construction spending is expected to assist the growth for vacuum insulation panel over the forecast period. These are preferred more, owing to their thermal resistance properties compared to conventional insulation materials.
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Moreover, the International Energy Agency issued strict regulations to conserve energy which has further propelled the demand for such panels. These panels help in reducing greenhouse gas emissions such as carbon dioxide from the atmosphere, thus helping to prevent polluting the environment to a large extent. Such a trend is anticipated to benefit the overall market over the next eight years.
However, vacuum insulation panels exhibit a heavier weight than conventional insulation materials which is expected to remain a key challenge for market participants. Factors such as, durability, shape and fragility are also anticipated to determine the demand for vacuum insulation panels in future.
Several R&D initiatives are being taken to introduce automated panels, which shall result in cost reduction of vacuum insulation panels over the forecast period. Recently, EVAL EVOH resins are added to provide an outer lamination coating for vacuum insulation panels to increase their shelf life.
Browse full research report with TOC on "Vacuum Insulation Panel Market Analysis By Core material (Silica, Fiberglass), By Product (Flat, Special Shape), By Application (Construction, Cooling & Freezing Devices, Logistics), By Raw Material (Plastic, Metal) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/vacuum-insulation-panel-market
Further key findings from the report suggest:
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Grand View Research has segmented the global Vacuum Insulation Panel Market on the basis of core material, product, raw material, application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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