Overview and Scope
Vacuum insulation refers to an insulation service that is used to provide better insulation performance than conventional insulation materials and to transport heat-sensitive products in extreme conditions and high temperatures. It is a flat element consisting of an open porous core material that withstands the external load caused by atmospheric pressure and a gas-tight envelope to maintain the required vacuum quality.
Sizing and Forecast
The vacuum insulation market size has grown strongly in recent years. It will grow from <b>$9.37 billion in 2023 to $10.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. </b> The growth in the historic period can be attributed to growth in green building initiatives, cost reduction efforts, industrial insulation needs, automotive lightweighting, energy efficiency regulations.
The vacuum insulation market size is expected to see strong growth in the next few years. It will grow to <b>$14.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. </b> The growth in the forecast period can be attributed to rise in sustainable construction, growing demand for hvac efficiency, aerospace and automotive growth, urbanization and infrastructure development, increased awareness of climate change .. Major trends in the forecast period include smart building integration, green building certification, high-performance refrigeration, customized vip solutions, vacuum insulated glass (vig)..
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Segmentation & Regional Insights
The vacuum insulation market covered in this report is segmented –
1) By Type: Flat Panel, Special Shape Panel
2) By Raw Material: Plastics, Metals
3) By Core Material: Silica, Fiberglass, Other Core Materials
4) By End-User Industry: Construction, Cooling and Freezing Devices, Logistics, Other End-User Industries
<b>Asia-Pacific</b> was the largest region in the vacuum insulation market share in 2023. <b>North America</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the vacuum insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Increased utilization across cooling and freezing applications is expected to propel the growth of the vacuum insulation market going forward. Freezing applications use vacuum insulation to help keep food cool for a longer period than other coolers. Vacuum insulation is helpful for fast and safe refrigerated transport of medicines and pharmaceutical products. For instance, in May 2022, according to International Energy Agency, a France-based intergovernmental agency, 88% of U.S. households use air conditioning (AC) . Therefore, the increased utilization across cooling and freezing applications is driving the vacuum insulation market.
Key Industry Players
Major companies operating in the vacuum insulation market include <b> BASF SE, M&I Materials Limited, Morgan Advanced Materials, Evonik Industries AG, LG Hausys, Panasonic Corporation, Dow, Kevothermal LLC, ThermoCor, Va-Q-Tec AG, Microtherm Sentronic GmbH, OCI Company Ltd., AVERY DENNISON CORPORATION, Kingspan Group, KCC CORPORATION, GereMarie Corporation, Svenska Aerogel AB, Saffil Ltd., Foshan JCT Machinery Co. Ltd., Anavid Insulation Products, Sulzer Metco, Luxfer Gas Cylinders, HPQ Silicon Resources Inc., Isoleika S.L., Thermal Windows, Saint-Gobain, Perlite Institute, TechnoNICOL Corporation </b>
The vacuum insulation market report table of contents includes:
1. Executive Summary
2.Vacuum Insulation Market Characteristics
3.Vacuum Insulation Market Trends And Strategies
4.Vacuum Insulation market analysis
5.Vacuum Insulation Market Size And Growth
6.Vacuum Insulation Segmentation
7.Vacuum Insulation Regional And Country Analysis
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27.Vacuum Insulation Competitive Landscape And Company Profiles
28.Vacuum Insulation Key Mergers And Acquisitions
29. Vacuum Insulation Future Outlook and Potential Analysis
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