Introduction
The global vacuum insulation panel market is expected to grow at a significant pace during the forecast period from 2023 to 2030. The rising popularity of VIPs in construction and refrigeration applications is one of the key factors driving the market growth. Vacuum insulation panels are composed of multi-layer materials, which offer excellent thermal resistance. These properties make them ideal for use in construction and refrigeration applications. The report provides an in-depth analysis of the global vacuum insulation panel market, including market size, drivers, restraints, opportunities, and challenges. It also segments the market on the basis of material type, end-use industry, and region.
Market Overview
The global market for VIPs has been estimated at $7.4 billion in 2021 and is projected to reach $11.6 billion by 2023, at a CAGR of 4.7%. The rising awareness about the energy-saving potential of VIPs is the key factor driving their adoption.
Vacuum Insulation Panels (VIPs) are highly efficient thermal insulators made up of a rigid core surrounded by a thin layer of metal or other impermeable material. They are hermetically sealed and have extremely low thermal conductivity, making them ideal for use in a variety of applications where insulation is critical, such as refrigeration, construction, and transportation.
The Asia-Pacific region is the largest market for VIPs, followed by North America and Europe. The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period owing to the rapidly growing economies in this region and the consequent increase in demand for energy-efficient solutions.
Covid-19 Impact on Vacuum Insulation Panel (VIP) Market:
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in the supply of raw materials, which directly affected the manufacturing process. Further, the halt in many end-use industries directly affected the chemical demand all around the world.
Report Includes
An overview of the global Vacuum Insulation Panel (VIP) market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2030. It also includes breakdowns of the overall Vacuum Insulation Panel (VIP) market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Vacuum Insulation Panel (VIP) market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Vacuum Insulation Panel (VIP) market for components from 2023 through 2030
The Executive Summary provides a snapshot of the key findings of the report. The introduction chapter includes the research scope, market segmentation, research methodology, and definitions and assumptions. It involves extremely rigorous scientific methods, tools, and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with industry experts and professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, the latest technological advancement, regulatory landscape, SWOT analysis, and Porter's five forces analysis. This chapter provides detailed insights of the market which derives the market trends, changing phase of investments, and scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes the profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures are being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis:
The global market for VIP is segmented on the basis of material, end-use industry, and geography.
On the basis of material, the VIP market is classified into polystyrene (PS), polyurethane (PU), phenolic resin, fiberglass, and others. PS held the largest market share in 2016 and is projected to grow at the highest CAGR during the forecast period. The PU segment is estimated to be the second-largest material segment in terms of market share in 2016.
On the basis of the end-use industry, the VIP market is classified into construction, transportation, refrigeration & freezer, food & beverage packaging, medical & pharmaceuticals, and others. The construction industry was the largest contributor to the VIP market in 2016. The growing demand for energy-efficient buildings has led to an increase in the use of VIPs in construction applications such as walls, roofs, doors, windows, and others.
The refrigeration & freezer application is projected to grow at the highest CAGR during the forecast period due to rising demand for energy-efficient cooling solutions from various end-use industries including food & beverage packaging and medical & pharmaceuticals among others.
Geographically, VIP market is classified into North America (U.S., Canada), Europe (Germany, U.K., France), Asia Pacific (China Japan India), Middle East & Africa (UAE Saudi Arabia South Africa), and Latin America (Brazil Mexico).
Global Vacuum Insulation Panel (VIP) market Competitive Analysis:
Key players in the Global Vacuum Insulation Panel (VIP) market are Evonik Industries AG, Panasonic Corporation, Dow, LG Hausys Ltd, and OCI Company Ltd, among others.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2027. Global Vacuum Insulation Panel (VIP) market is distributed on the basis of the below-mentioned segments:
Global Vacuum Insulation Panel (VIP) market, By Type:
The global vacuum insulation panel market is expected to grow at a significant pace during the forecast period from 2023 to 2030. The rising popularity of VIPs in construction and refrigeration applications is one of the key factors driving the market growth. Vacuum insulation panels are composed of multi-layer materials, which offer excellent thermal resistance. These properties make them ideal for use in construction and refrigeration applications. The report provides an in-depth analysis of the global vacuum insulation panel market, including market size, drivers, restraints, opportunities, and challenges. It also segments the market on the basis of material type, end-use industry, and region.
Market Overview
The global market for VIPs has been estimated at $7.4 billion in 2021 and is projected to reach $11.6 billion by 2023, at a CAGR of 4.7%. The rising awareness about the energy-saving potential of VIPs is the key factor driving their adoption.
Vacuum Insulation Panels (VIPs) are highly efficient thermal insulators made up of a rigid core surrounded by a thin layer of metal or other impermeable material. They are hermetically sealed and have extremely low thermal conductivity, making them ideal for use in a variety of applications where insulation is critical, such as refrigeration, construction, and transportation.
The Asia-Pacific region is the largest market for VIPs, followed by North America and Europe. The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period owing to the rapidly growing economies in this region and the consequent increase in demand for energy-efficient solutions.
Covid-19 Impact on Vacuum Insulation Panel (VIP) Market:
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in the supply of raw materials, which directly affected the manufacturing process. Further, the halt in many end-use industries directly affected the chemical demand all around the world.
Report Includes
An overview of the global Vacuum Insulation Panel (VIP) market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2030. It also includes breakdowns of the overall Vacuum Insulation Panel (VIP) market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Vacuum Insulation Panel (VIP) market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Vacuum Insulation Panel (VIP) market for components from 2023 through 2030
The Executive Summary provides a snapshot of the key findings of the report. The introduction chapter includes the research scope, market segmentation, research methodology, and definitions and assumptions. It involves extremely rigorous scientific methods, tools, and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with industry experts and professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, the latest technological advancement, regulatory landscape, SWOT analysis, and Porter's five forces analysis. This chapter provides detailed insights of the market which derives the market trends, changing phase of investments, and scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes the profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures are being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis:
The global market for VIP is segmented on the basis of material, end-use industry, and geography.
On the basis of material, the VIP market is classified into polystyrene (PS), polyurethane (PU), phenolic resin, fiberglass, and others. PS held the largest market share in 2016 and is projected to grow at the highest CAGR during the forecast period. The PU segment is estimated to be the second-largest material segment in terms of market share in 2016.
On the basis of the end-use industry, the VIP market is classified into construction, transportation, refrigeration & freezer, food & beverage packaging, medical & pharmaceuticals, and others. The construction industry was the largest contributor to the VIP market in 2016. The growing demand for energy-efficient buildings has led to an increase in the use of VIPs in construction applications such as walls, roofs, doors, windows, and others.
The refrigeration & freezer application is projected to grow at the highest CAGR during the forecast period due to rising demand for energy-efficient cooling solutions from various end-use industries including food & beverage packaging and medical & pharmaceuticals among others.
Geographically, VIP market is classified into North America (U.S., Canada), Europe (Germany, U.K., France), Asia Pacific (China Japan India), Middle East & Africa (UAE Saudi Arabia South Africa), and Latin America (Brazil Mexico).
Global Vacuum Insulation Panel (VIP) market Competitive Analysis:
Key players in the Global Vacuum Insulation Panel (VIP) market are Evonik Industries AG, Panasonic Corporation, Dow, LG Hausys Ltd, and OCI Company Ltd, among others.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2027. Global Vacuum Insulation Panel (VIP) market is distributed on the basis of the below-mentioned segments:
Global Vacuum Insulation Panel (VIP) market, By Type:
- Fiber Glass
- Precipitated Silica
- Fumed Silica
- Other
- Home Appliance
- Building Material
- Transport
- Other
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
Vacuum Insulation Panel (VIP) MARKET STUDY GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2023-2030
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Vacuum Insulation Panel (VIP) Market Analysis (USD Billion), Insights and Forecast, 2018-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Segment 1
- 5.2.1. Sub-Segment 1
- 5.2.2. Sub-Segment 2
- 5.3. Market Analysis, Insights and Forecast – By Segment 2
- 5.3.1. Sub-Segment 1
- 5.3.2. Sub-Segment 2
- 5.3.3. Sub-Segment 3
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By Segment 3
- 5.4.1. Sub-Segment 1
- 5.4.2. Sub-Segment 2
- 5.4.3. Sub-Segment 3
- 5.4.4. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Latin America
- 5.5.3. Europe
- 5.5.4. Asia Pacific
- 5.5.5. Middle East and Africa
6. North America Vacuum Insulation Panel (VIP) Market Analysis (USD Billion), Insights and Forecast, 2018-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Segment 1
- 6.2.1. Sub-Segment 1
- 6.2.2. Sub-Segment 2
- 6.3. Market Analysis, Insights and Forecast – By Segment 2
- 6.3.1. Sub-Segment 1
- 6.3.2. Sub-Segment 2
- 6.3.3. Sub-Segment 3
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By Segment 3
- 6.4.1. Sub-Segment 1
- 6.4.2. Sub-Segment 2
- 6.4.3. Sub-Segment 3
- 6.4.4. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Latin America Vacuum Insulation Panel (VIP) Market Analysis (USD Billion), Insights and Forecast, 2018-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Segment 1
- 7.2.1. Sub-Segment 1
- 7.2.2. Sub-Segment 2
- 7.3. Market Analysis, Insights and Forecast – By Segment 2
- 7.3.1. Sub-Segment 1
- 7.3.2. Sub-Segment 2
- 7.3.3. Sub-Segment 3
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By Segment 3
- 7.4.1. Sub-Segment 1
- 7.4.2. Sub-Segment 2
- 7.4.3. Sub-Segment 3
- 7.4.4. Others
- 7.5. Insights and Forecast – By Country
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Rest of Latin America
8. Europe Vacuum Insulation Panel (VIP) Market Analysis (USD Billion), Insights and Forecast, 2018-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Segment 1
- 8.2.1. Sub-Segment 1
- 8.2.2. Sub-Segment 2
- 8.3. Market Analysis, Insights and Forecast – By Segment 2
- 8.3.1. Sub-Segment 1
- 8.3.2. Sub-Segment 2
- 8.3.3. Sub-Segment 3
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By Segment 3
- 8.4.1. Sub-Segment 1
- 8.4.2. Sub-Segment 2
- 8.4.3. Sub-Segment 3
- 8.4.4. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Rest of Europe
9. Asia Pacific Vacuum Insulation Panel (VIP) Market Analysis (USD Billion), Insights and Forecast, 2018-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Segment 1
- 9.2.1. Sub-Segment 1
- 9.2.2. Sub-Segment 2
- 9.3. Market Analysis, Insights and Forecast – By Segment 2
- 9.3.1. Sub-Segment 1
- 9.3.2. Sub-Segment 2
- 9.3.3. Sub-Segment 3
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By Segment 3
- 9.4.1. Sub-Segment 1
- 9.4.2. Sub-Segment 2
- 9.4.3. Sub-Segment 3
- 9.4.4. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Japan
- 9.5.4. Australia
- 9.5.5. South East Asia
- 9.5.6. Rest of Asia Pacific
10. Middle East & Africa Vacuum Insulation Panel (VIP) Market Analysis (USD Billion), Insights and Forecast, 2018-2030
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Segment 1
- 10.2.1. Sub-Segment 1
- 10.2.2. Sub-Segment 2
- 10.3. Market Analysis, Insights and Forecast – By Segment 2
- 10.3.1. Sub-Segment 1
- 10.3.2. Sub-Segment 2
- 10.3.3. Sub-Segment 3
- 10.3.4. Others
- 10.4. Market Analysis, Insights and Forecast – By Segment 3
- 10.4.1. Sub-Segment 1
- 10.4.2. Sub-Segment 2
- 10.4.3. Sub-Segment 3
- 10.4.4. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.3.1. Company 1
- 11.3.1.1. Business Overview
- 11.3.1.2. Segment 1 & Service Offering
- 11.3.1.3. Overall Revenue
- 11.3.1.4. Geographic Presence
- 11.3.1.5. Recent Development
- 11.3.2. Company 2
- 11.3.3. Company 3
- 11.3.4. Company 4
- 11.3.5. Company 5
- 11.3.6. Company 6
- 11.3.7. Company 7
- 11.3.8. Company 8
- 11.3.9. Company 9
- 11.3.10. Company 10
- 11.3.11. Company 11
- 11.3.12. Company 12
- 11.3.1. Company 1
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
