Vacuum Insulation Panels Market to Garner $11.6 Billion, Globally, By 2030 at 4.7% CAGR, Says Allied Market Research

Emergence of new technologies and developments in the construction sector drive the growth of the global vacuum insulation panels market.

PORTLAND, Ore., April 25, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Vacuum Insulation Panels Market by Raw Material (Plastics and Metals), Core Material (Silica, Fiberglass, and Others), Type (Flat Panel and Special Shape Panel), and End User Industry (Construction, Cooling & Freezing Devices, Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report published by Allied Market Research, the global vacuum insulation panels industry was estimated at $7.4 billion in 2020 and is expected to hit $11.6 billion by 2030, registering a CAGR of 4.7% from 2021 to 2030.

Drivers, restraints, and opportunities-

Emergence of new technologies and developments in the construction sector drive the growth of the global vacuum insulation panels market. On the other hand, relative high cost compared to conventional insulation materials restrains the growth to some extent. However, the presence of highly developed marine transportation infrastructure across the globe is anticipated to create lucrative opportunities in the industry.

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Covid-19 scenario-

• Disruptions in construction activities and decrease in the demand for cold storage container in the transportation sector impacted the global vacuum insulation panels market negatively, especially during the initial period.
• At the same time, disruptions in the supply chain and distorted manufacturing activities worsened the market condition even more. However, the market is projected to get back on track soon.

The metal segment to dominate by 2030

By raw material, the metal segment contributed to the lion's share in 2020, holding nearly three-fifths of the global vacuum insulation panels market, owing to the augmenting demand for insulated panels in the construction industry. However, the plastics segment is projected to manifest the fastest CAGR of 4.9% from 2021 to 2030.

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The flat panel segment to retain the lion's share

By type, the flat panel segment held the major share in 2020, garnering around three-fifths of the global vacuum insulation panels market. This is due to compact size and high R values, which results in high thermal insulation. The special shape panel segment, on the other hand, is projected to cite the fastest CAGR of 4.9% throughout the forecast period.

Asia-Pacific, followed by North America, held the major share in 2020

By region, Asia-Pacific, followed by North America, dominated in 2020, garnering more than two-fifths of the global vacuum insulation panels market. This is due to the robust demand for vacuum insulation panels (VIPs) from the construction as well as the logistics and warehouse industries. The market across LAMEA, simultaneously, is expected to cite the fastest CAGR of 5.1% throughout the forecast period.

Key players in the industry-

• Evonik Industries AG
• Panasonic Corporation
• Rockwool International
• Kingspan group LLC.
• Bridgestone
• DOW Corning Corporation
• Thermocor
• Microtherm
• LG Hausys Ltd.
• BASF SE

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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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