Vacuum Insulation Panels Market size is anticipated to cross USD 164.2 Billion by the end of 2036, growing at a CAGR of 6.2% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of vacuum insulation panels was over USD 79.8 Billion. With a growing focus on sustainability and energy efficiency, industries and consumers are seeking ways to reduce energy consumption in buildings, appliances, and transportation. Vacuum Insulation Panels provide significantly higher insulation performance compared to traditional insulation materials, enabling reduced energy consumption for heating, cooling, and refrigeration.
Green building certifications and initiatives, such as LEED (Leadership in Energy and Environmental Design), encourage the use of innovative and sustainable construction materials. VIPs align with these initiatives due to their energy-saving potential and low environmental impact.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 6.2% |
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Base Year Market Size (2023) |
~ USD 79.8 Billion |
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Forecast Year Market Size (2036) |
~ USD 164.2 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Core Material (Silica, fiberglass)
The silica segment in the vacuum insulation panels market is expected to record significant growth during the forecast period, owing to its stable insulating properties compared to other materials. Silica-based products are expected to be in the top spot. Silica-based boards are widely used in the construction industry with an estimated value of USD 1.36 trillion and a yearly turnover rate of 68% in 2020 enhancing prospects for the vacuum insulation panels market.
Product (Flat, Special Shape Panel)
The flat segment is anticipated to dominate the vacuum insulation panels market throughout the forecast period, due to the simpler manufacturing methods for flat panels compared to specialty-shaped panels, Refrigerators, freezers, logistics, and the building industry all employ flat vacuum insulation panels because of their excellent thermal insulation capabilities.
Application (Construction, Consumer Appliances, Logistics)
Vacuum insulation panels market from the construction segment is expected to hold around 52% of the revenue share by 2036, pertaining to increasing demands for energy-efficient infrastructure. Vacuum insulation panels have good thermal insulation properties and thermal conductivity and are excellent construction materials. By 2020, the construction market will be worth USD 6.4 trillion, providing opportunities for the segment.
Our in-depth analysis of the global market includes the following segments:
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Core Material |
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Product |
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Application |
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APAC Market Forecast
Asia Pacific vacuum insulation panels market is slated to surpass USD 4.1 billion by 2024, making it one of the region's most profitable markets accounting for 40%. The burgeoning infrastructure market in China with an infrastructure budget of USD 1.018 Trillion as of 2024, will be responsible for the expansion in this area. Due to the region's fast urbanization and rising government investments in infrastructure projects, the construction industry is also anticipated to expand in the next few years.
North American Market Statistics
The vacuum insulation panels market in North America is anticipated to grow at a significant pace, having the fastest growth rate owing to the booming construction industry. The U.S. economy heavily depends on the construction sector. More than 7.8 million people work for more than 753,000 firms in this sector, which also produces approximately USD 1.8 trillion worth of structures annually. One of the vacuum insulation panel industry's biggest markets is construction.
Author Credits: Mohd Shadab, Yashika Karodiwal
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