Demand for Vacuum Insulated Panels (VIPs) Dropped Sharply in 2020 Owing to Economic Downturn and Expected to Rebound Significantly in 2021; and to Reach 145 Mil SQMTS by 2026 - Market Research Report (2020-2026) by Industry Experts, Inc.
Monday 25 Jan 2021
Industry Experts, Inc. released an updated 2021 version of the market research report "Vacuum Insulation Panels (VIPs) – A Global Market Overview". As per the new report, VIPs demand in cold chain logistics is projected to post the robust growth in 2021, particularly due to COVID-19 Pandemic, as the pharmaceutical products need the sophisticated thermal packaging.
The market development of VIPs has been largely impacted by the evolution in regulations set for energy efficiency in buildings, refrigerators, hot water storage systems and automobiles. Refrigeration manufacturers are increasingly employing VIPs for achieving optimum energy efficiency. Cold chain logistics for pharmaceutical products is also under intense regulatory scrutiny, which has increased the need for reliable and high performance thermal packaging, which has boosted the market for VIPs.
The impact of COVID-19 pandemic on vacuum insulation panels (VIPs) demand is expected to differ in intensity depending on their end-use application and region. Sharpest declines would be expected in VIPs for building & construction, refrigerators & freezers and automotive and transportation applications. On the other hand, demand for VIPs in cold chain logistics is expected to increase robustly in 2020-2021, thanks to the demand for cold chain containers and boxes to transport COVID-19 test kits and upcoming demand from COVID-19 vaccine transportation and storage.
Going into 2021, VIPs demand is forecast to pick up in all applications. VIPs demand in cold chain logistics is anticipated to post a robust growth during 2020-2021, amid the huge demand from COVID-19 vaccination programs, recording huge YOY growth rates while refrigerators & freezers continue to dominate the market with over 23% CAGR for the analysis period.
The market for the material types of VIP products analyzed in this study comprise Core Materials – Fumed Silica, Fiberglass and Others; and Envelope Materials – Aluminum Foils and Metalized Laminates. The report also explores global VIPs market by application consisting of Refrigerators & Freezers, Cold Chain Logistics, Building & Construction and Others.
This report reviews, analyzes and projects the Vacuum Insulation Panels market for global and the regional markets including the North America, Europe, Asia-Pacific and Rest of World for the period 2017-2026 in terms of volume (square meters/m2) as well as value (USD). These regional markets further analyzed for 14 independent countries across North America – the United States, and Mexico; Europe – Austria, France, Germany, Italy, Switzerland and the United Kingdom; Asia-Pacific – China, Japan and South Korea; and Rest of World – Brazil, Russia and Turkey.
This 272 page global Vacuum Insulation Panels (VIPs) market report includes 187 charts (includes a data table and graphical representation for each table), supported with a meaningful and easy to understand graphical presentation, of the market. This report includes the brief business profiles of 47 key global players segmented by VIPs producers – 31; and raw materials producers – 16. The report also provides the listing of the companies engaged in research & development, manufacturing and supply of vacuum insulation panels, VIP systems, core materials, barrier films and other raw materials for VIPs production. The global list of companies covers addresses, contact numbers and the website addresses of 73 companies.
California, USA based Industry Experts, Inc. is a multi-industry focused market research provider.
For more details, please visit: https://industry-experts.com/verticals/construction-and-manufacturing/vacuum-insulation-panels-vips-a-global-market-overview