The Global Vacuum Insulation Panels Packaging Market is driven significantly, owing to the growing construction and increase in the demand for cold storage container in the transportation sector. The increased urbanization and industrialisation have bolstered the demand for the construction sector, where the ever expanding global warming have led to various climatic changes. Hence, generating an opportunity for the demand for vacuum insulation panels in the construction sector.
With the evolving of new technologies, manufacturers are seeking for avant-garde techniques to make vacuum insulation panels more effective. Vacuum insulated panel is a form of thermal insulation that incorporates a gas-tight enclosure surrounding a rigid core, from which the air has been forsake.
It has wide range of applications in the building construction, insulated shipping containers and refrigerating units to provide better insulation conducting than conventional insulation materials.
Global Vacuum Insulation Panel Packaging Market: Overview
The market for vacuum insulation panels is valued at USD 7.4 Billion in 2020, and is to reach a value of USD 11.6 Billion in 2030, growing at a CAGR of 4.7%.
The primary factors thriving the growth of the market studied are the robust demand from the construction industry, and adoption of VIPs for self-propelling storage and retrieval across the world.
On the contraposition, high cost for non-standard sizes, and heavy weight of the panels may hinder the growth of the market. The growth of the structure segment is driven by the design flexibility and ease-to-manufacture attributes of flat panels.
Increasing exacting regulations promoting the energy-efficient materials, and R&D initiatives to introduce automated panels, with a target to reduce VIPs cost, are likely to provide opportunities for the market.
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Segmental Analysis of Global Vacuum Insulation Panels Packaging Market:
Competitive Landscape:
Evonik Industries AG
LG Hausys Ltd.
Panasonic Corporation
BASF SE
Rockwool International
Kingspan group LLC
Bridgestone
DOW Corning Corporation
Thermocor
Microtherm
Based on Raw Material
Metal
Plastics
The metal segment accounts for the largest share in the global vacuum insulation panels market. The primary factors driving the growth of the market are the evolving demand for insulated panels in the construction industry and the growing need for refrigerated and processed foods.
Based on Core Material
Fibreglass
Silica
Others
The silica segment dominates the global vacuum insulation panels market. It accounts for almost 47.78% of the share as they provide expanding thermal insulation properties compared to other materials. Also due to their long life they are used in building constructions.
Based on Type
Special Shape Panel
Flat Panel
The flat panel segment dominates the global vacuum insulation panels market. It is characterized by a compact size and high R values, which results in high thermal insulation. These panels can be utilized in building constructions, cooling & freezing devices, and also in the logistics industry. Growth of this section is mainly driven by the design flexibility and ease-to-manufacture attributes of flat panels.
Based on Use-Industry
Logistics
Construction
Cooling and Freezing Devices
Others
The construction segment dominates the global vacuum insulation panels market by generating 47.98%. This is majorly due to the maximum consumption of vacuum insulation panels in residential & underground constructions.
Vacuum insulation panels also give away other advantages in the construction sector, like the reduced thickness of building components, recyclability of constitutive materials after their service life and providing increased indoor space and optimization of land use.
Based on Region
North America
Mexico
US
Canada
Europe
UK
Germany
France
Russia
Turkey
Asia-Pacific
Australia
China
India
Japan
LAMEA
Argentina
Brazil
UAE
Qatar
Asia-Pacific occupies the largest part of the vacuum insulation panels market and consists of countries such as China, Japan, India, South Korea, Australia, and rest of Asia-Pacific. The instant growth in the development of the market is because of the heightened demand for vacuum insulation panels (VIPs) from the construction, as well as logistics and warehouse industries.
Key Trends: Growth Determinants and Challenges
- Rapid Industrialisation and Urbanisation
The rapid industrialization and urbanization have strengthened the demand for the construction sector, as the global warming has led to varied climatic changes which in turn has created an opportunity for the demand for vacuum insulation panels in the construction sector.
The phantom of highly developed marine transportation infrastructure across the globe among the developed and developing countries have positive impacts on the demand for the vacuum insulation panels market.
The presence of huge population, urbanization and increase in middle-class income, has created opportunities for the development of the vacuum insulation panels market.
- High-cost of insulation materials
The main reasons that restrict the development of the market are the relative high cost compared to conventional insulation materials.
Their considerable sensibility to mechanical damage as puncturing the vacuum insulated panel envelope causes an increase in the thermal conductivity. The unknowns about their durability and consequent performance along their whole lifespan.
Key Takeaways from the report:
- Deep-insights on regional analysis of the global vacuum insulation panels packaging market.
- Thorough segmental analysis along with growth factors and challenges.
- The market for vacuum insulation panels is valued at USD 7.4 billion in 2020, and is to reach a value of USD 11.6 billion in 2030, growing at a CAGR of 4.7%.
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Major questions answered in the report:
- Which are the top profile companies contributing in the growth of Global Vacuum Insulation Panels Packaging market?
- What are the major challenges and growth determinants in the global vacuum insulation panels packaging market?
- Which region accounts for the largest share of the global vacuum insulation panels packaging market?
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