The Vacuum Insulation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Vacuum Insulation Global Market Report 2024, The vacuum insulation market size has grown strongly in recent years. It will grow from $9.37 billion in 2023 to $10.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. 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 $14.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. 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).
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.
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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
Technological advancements are a key trend gaining popularity in the vacuum insulation market. Major companies operating in vacuum insulation are developing new products with innovative technologies to strengthen their position in the market. For instance, in 2021, Panasonic Corporation, a Japan-based company operating in vacuum insulation, launched its innovative vacuum insulating product known as the VIXELL Vacuum Insulated Cooking Box, which uses contactless power supply technology to enable the user to determine insulation performance
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 – Macro Economic Scenario
5. Global Vacuum Insulation Market Size and Growth
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26. South America Vacuum Insulation Market
27. Brazil Vacuum Insulation Market
28. Middle East Vacuum Insulation Market
29. Africa Vacuum Insulation Market
30. Vacuum Insulation Market Competitive Landscape And Company Profiles
Top Major Players:
- BASF SE
- M&I Materials Limited
- Morgan Advanced Materials
- Evonik Industries AG
- LG Hausys
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