The global vacuum insulation panel (VIP) market is expected to display higher growth rate over the next five years. Rapid surge in the VIP market is credited to the rising construction spending in both developed & developing economies across the globe. Increasing demand for vacuum insulation panels is currently attributed to its superior properties such as thermal resistance, particularly compared to the traditional insulation materials. Globally, vacuum insulation panel (VIP) market is predicted to generate massive revenue over the next five years, providing numerous opportunities for industry participants to invest in research and development of vacuum insulation panels (VIPs).
Vacuum insulation panels are considered as vital elements for various construction applications due to their superior thermal resistance properties, thus largely positively affecting market growth over the forecast period. Stringent laws & regulations in regards to energy conservation by government authorities are predicted to favor the growth of vacuum insulation panels over the forecast period. In addition, use of vacuum insulation panels helps to limit carbon dioxide emission rate, thus aggravating market value exponentially in the process.
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However, higher initial cost associated with vacuum insulation panel is expected to limit the growth of vacuum insulation panel market to a certain extent. In addition, vacuum insulation panel are considered as heavier than other conventional insulation material, thus significantly affecting market performance. Shorter shelf life is one of the major contributing factor for slower market growth of vacuum insulation panels as well. Shorter shelf life of the vacuum insulation panel is directly related to factors such as aging and durability.
The vacuum insulation panel market (VIP) is broadly categorized into three major segments based on the application type such as building & construction industry, cooling & freezing devices, and logistics sector. The building & construction industry is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years.
Growing popularity of vacuum insulation panel in the building & construction segment is attributed to the stringent laws & regulation regarding energy conservation and increasing demand for energy efficient infrastructure. The logistics segment has also witnessed substantial growth owing to the wide range of application in cold chain solution like that of pharmaceutical temperature controlled shipping.
The vacuum insulation panel (VIP) market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in building & construction sector, increase in the number of research & development activities, and existence of well-established manufacturing infrastructure in the region.
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Asia-Pacific region is predicted to hold major market share in the vacuum insulation panel (VIP) market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing infrastructural spending, strong economic growth in the region, and significant investment by leading industry players considering potential growth opportunities.
The key players in the vacuum insulation panel (VIP) market are Evonik Industries, Inc., Panasonic Co., OCI Company Ltd., LG Hausys Ltd., Porextherm Dämmstoffe GmbH, ThermoCor, Inc., and Microtherm International Co.
Global Market for vacuum insulation panel (VIP) to 2023 offers detailed coverage of vacuum insulation panel industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading vacuum insulation panel producers to provide exhaustive coverage of the vacuum insulation panel.
Report contents include
• Analysis of the vacuum insulation panel market including revenues, future growth, market outlook
• Historical data and forecast
• Regional analysis including growth estimates
• Analyzes the end user markets including growth estimates.
• Profiles on vacuum insulation panel including products, sales/revenues, and market position
• Market structure, market drivers and restraints.
• North America
• Asia Pacific
• Middle East and Africa
• South America
• request free sample to get a complete list of companies
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