Energy Efficiency Standards Bolster Demand for Vacuum Insulation Panels (VIPs) Global Demand to Reach 143M SQM (nearly $3B) by 2029 – Market Research Report (2023-2029) by Industry Experts, Inc
Wednesday 11 Oct 2023
Industry Experts, Inc. unveiled the latest version of Vacuum Insulation Panels (VIPs) global market research report. As per the new report entitled "Vacuum Insulation Panels (VIPs) – A Global Market Overview", Asia-Pacific region leads the volume market for VIPs with a 2022 share of 64% translated to 32 million square meters, followed by Europe and North America.
Key market trends driving demand for VIPs include stringent energy efficiency standards for appliances and buildings, demand for ever more complex and often temperature-sensitive biotech medications. 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. Refrigerators & freezers industry is the largest consumer of Vacuum Insulation Panels (VIPs) globally, estimated at 43.7 million square meters, valued at US$992 million in 2023, and is further projected to record a robust CAGR of 17.2% during 2023-2029 period in reaching 113 million square meters valued at US$2.1 billion by 2029.
The study reviews, analyzes and projects the Vacuum Insulation Panels (VIPs) market for global and the regional markets including North America, Europe, Asia-Pacific and Rest of World for the period 2019-2029 in terms of volume in square meters value in 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.
The market for product types and sub-types of VIPs studied in the report comprise By Core Material – Fumed Silica VIPs, Fiberglass VIPs, Other Core Material based VIPs (Aerogel and PU foam); and By Envelope Material – Aluminum Foils based VIPs, Metalized Laminates based VIPs. The study also explores the market for applications of VIPs consisting of Refrigerators & Freezers, Cold Chain Logistics, Building & Construction and Other Applications (such as marine, automotive, aerospace, hot water storage, industrial & technical insulation etc.).
This 259 page Vacuum Insulation Panels (VIPs) global market report includes 187 charts (includes a data table), supported with a meaningful and easy to understand graphical presentation of the market. This report comprises brief business profiles of 41 key players and also provides a listing of the companies engaged in the manufacturing and supply of VIPs. The global list of companies covers addresses, contact numbers and the website addresses of 71 companies.
California, USA based Industry Experts, Inc. is a multi-industry focused business information provider.
For more details, please visit: https://industry-experts.com/verticals/construction-and-manufacturing/vacuum-insulation-panels-vips-a-global-market-overview