Vacuum Insulation Panels Market

High demand in the construction industry drives market growth.

The increasing need for vacuum insulation is expected to fuel the growth of the construction industry, paving the path for market expansion. It is utilized in a number of applications such as building construction, refrigeration units, and insulated shipping containers to give superior insulation performance than standard insulation materials. The rapidly growing construction sector is driving the market CAGR for vacuum insulation panels.

Furthermore, refrigerated transport of pharmaceutical products and medicines around the world has contributed to the vacuum insulated panels market's recent rapid growth. Furthermore, with rapidly increasing quantities of frozen food being transported across vast distances, thermal insulation for extended periods of time is required, the cold storage and frozen transportation industry has seen an increase in demand for vacuum insulated panels.

In addition, the construction industry has seen increased demand as a result of rapid industrialization and urbanization. Furthermore, the large population, presence of highly developed marine transportation infrastructure, and the heavy weight of vacuum insulation panels have accelerated the market's growth.

According to Singapore's Building and Construction Authority (BCA), overall construction demand in 2022 is expected to range between S$27 billion and S$32 billion. As a result, the expansion of the construction industry contributes to the expansion of the vacuum insulation panel market revenue.August 2023: Evonik Industries launched its next-generation VIP core material, "Aerogel Pro," boasting superior thermal performance and fire resistance compared to previous offerings. This development aimed to address concerns regarding fire safety in building applications utilizing VIPs.

The Global Vacuum Insulation Panels Market Industry is projected to experience substantial growth over the next decade. With a market value anticipated to reach 10.1 USD Billion by 2035, the industry is poised for a robust expansion trajectory. This growth is supported by various factors, including rising energy efficiency demands, advancements in manufacturing technologies, and increased awareness of environmental impacts. The compound annual growth rate of 4.23% from 2025 to 2035 indicates a steady increase in market activity, driven by innovations and the evolving needs of consumers and industries. This positive outlook underscores the potential for vacuum insulation panels in diverse applications.

The Global Vacuum Insulation Panels Market Industry experiences a notable surge in demand driven by the increasing emphasis on energy efficiency across various sectors. Governments worldwide are implementing stringent regulations aimed at reducing energy consumption in buildings and appliances. For instance, the construction sector is increasingly adopting vacuum insulation panels due to their superior thermal performance, which can reduce energy costs significantly. As a result, the market is projected to reach 6.39 USD Billion in 2024, reflecting a growing recognition of the importance of sustainable building practices. This trend is likely to continue as energy efficiency becomes a priority in global policies.

The Global Vacuum Insulation Panels Market Industry is closely linked to the expansion of the construction sector, particularly in emerging economies. Rapid urbanization and infrastructure development are driving the need for innovative building materials that enhance energy efficiency. Vacuum insulation panels are increasingly utilized in residential and commercial buildings to improve thermal performance and reduce energy costs. As urban populations grow, the demand for energy-efficient buildings is likely to escalate, contributing to the market's growth. The construction sector's expansion in developing regions presents a significant opportunity for vacuum insulation panel manufacturers to capture new markets and drive innovation.

Technological advancements in the manufacturing processes of vacuum insulation panels are propelling the Global Vacuum Insulation Panels Market Industry forward. Innovations such as improved materials and production techniques enhance the performance and reduce the costs of these panels. For example, the development of new composite materials allows for thinner panels with better insulation properties, making them more appealing for various applications. This trend is expected to contribute to a compound annual growth rate of 4.23% from 2025 to 2035, as manufacturers seek to meet the evolving needs of consumers and industries. Enhanced manufacturing capabilities are likely to expand the market's reach and applications.

The Global Vacuum Insulation Panels Market Industry is witnessing a shift in consumer behavior driven by increasing awareness of environmental impacts. As sustainability becomes a central concern, consumers are seeking products that minimize their carbon footprint. Vacuum insulation panels, known for their longevity and energy-saving properties, align well with these values. This growing consciousness is prompting manufacturers to adopt eco-friendly practices and materials, further enhancing the appeal of vacuum insulation solutions. The market's trajectory suggests that as environmental regulations tighten, the demand for sustainable insulation options will continue to rise, fostering growth in the industry.

The Global Vacuum Insulation Panels Market Industry is significantly influenced by the expansion of the refrigeration and cold chain logistics sectors. With the increasing demand for perishable goods and pharmaceuticals, efficient temperature control is paramount. Vacuum insulation panels provide superior thermal insulation, which is essential for maintaining the integrity of temperature-sensitive products during transportation. This growth is underscored by the projected market value of 10.1 USD Billion by 2035, indicating a robust demand for advanced insulation solutions. The cold chain logistics sector's expansion is likely to drive innovations and investments in vacuum insulation technologies, further enhancing market growth.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific dominates the market in terms of market share and revenue, and this dominance is expected to continue during the projected period of 2022-2032. This region's market growth is attributable to the development of the infrastructure and construction industries, growing urbanization, and rising government expenditure in infrastructure projects within the region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: VACUUM INSULATION PANEL MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe’s Vacuum Insulation Panels Market accounts for the second-largest market share due to the increasing growth of construction industry within the region. Further, the German Vacuum Insulation Panels Market held the largest market share, and the UK Vacuum Insulation Panels Market was the fastest-growing market in the European region

The North America Vacuum Insulation Panels Market is expected to grow at the fastest CAGR from 2023 to 2032. This is Because of the increased use of cutting-edge technology in the building and construction industries, as well as an increase in the number of research and development activities. Moreover, China’s Vacuum Insulation Panels Market held the largest market share, and the Indian Vacuum Insulation Panels Market was the fastest-growing market in the North America region.

Leading market players are investing heavily in R&D in order to expand their product lines, which will help the Vacuum Insulation Panels Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Vacuum Insulation Panels industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Vacuum Insulation Panels industry to benefit clients and increase the market sector. In recent years, the Vacuum Insulation Panels industry has offered some of the most significant advantages to medicine. Major players in the Vacuum Insulation Panels Market, including ThermoCor (U.S.), Porextherm Dämmstoffe GmbH (Germany), Vacutherm Ltd. (U.K.), Hanita Coatings RCA Ltd. (Isreal), Cargill Incorporated, and others, are attempting to increase market demand by investing in R&D operations.

Kingspan Group plc is an Irish building materials firm that trades in over 80 countries and employs over 22,000 people over 210 plants. Insulated Panels, Insulation, Light & Air, Water & Energy, and Data & Flooring, Roof & Waterproofing are the company's six divisions.Eugene Murtagh founded the company in the 1960s, and it debuted on the Irish Stock Exchange in 1989 with a market capitalization of IR£20 million.

It expanded into insulated panels and rigid insulation boards through a series of greenfield operations and acquisitions, including the European insulation business of CRH plc in 2010 and ThyssenKrupp Steel's construction sector in 2012. Sales increased for the first time in three years in 2010. In January 2022, Kingspan Group, acquired Thermal Visions for an undisclosed amount.This acquisition will benefit Kingspan’s fast-developing vacuum insulation panel business in North America, focused on the re-roofing industry.

Dow Corning firm was an American multinational firm located in Midland, Michigan. Originally formed as a joint venture between The Dow Chemical Company and Corning Incorporated, Dow bought out Corning and Dow Corning became a 100% Dow subsidiary. After a brief existence as a DowDuPont-owned company, when Dow spun off from DowDuPont on April 1, 2019, it is now a new company, Dow Silicones Corporation, which is completely owned by Dow and specializes in silicone and silicon-based technology, and is the world's largest silicone product maker.

In December 2021,  Dow also announced on the same day that it had reached an agreement to acquire Corning's holding in Dow Corning in exchange for $4.8 billion in cash, with Corning receiving an approximately 40% ownership in Hemlock Semiconductor Corporation.