Global Vacuum Insulation Market is Segmented By Type (Flat, Special Shape), By Core Material (Silica, Fiberglass, Others (aerogel, polyurethane board and micro-fleece board)), By Raw Material (Silica, Fiberglass, Plastic, Metal, Others (glass and microfleece)), By Application(Construction, Cooling & freezing devices, Logistics, Others (storage, packaging and industrial & automotive applications)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The "Global Vacuum Insulation Market" is estimated to reach at a high CAGR during the forecast period (2024-2031).
A vacuum is frequently thought to be the best-known insulator due to its complete lack of atoms. Vacuums are frequently employed to reduce heat transfer, such as lining a thermos to keep drinks hot or cold. According to a new study, a stack of photonic crystals stacked within a vacuum can generate material with a thermal conductivity half that of space alone.
Furthermore, the vacuum insulation panel is the most frequently used type of vacuum insulator is a high-performance, low-conductivity thermal insulation solution. It is thought to be many times more effective than typical insulation materials. A vacuum insulation panel (VIP) is a heat insulation panel with a stiff core material covered in a thin, gas-tight outer envelope that is evacuated gas-impermeable.
Heat transport is inhibited by combining hard material and vacuum, resulting in an extraordinarily high thermal resistance. VIPs are widely utilized in various industries, including household appliances, construction, shipping and packaging.
Source: DataM Intelligence Analysis (2021)
For more details on this report - Request for Sample
Market Dynamics
Growing global construction activities and the adoption of vacuum insulation panels (VIPs) for automated storage and retrieval drive the market share for vacuum insulation. Increasing stringent regulations promoting energy-efficient materials and R&D initiatives to introduce automated panels to reduce VIPs cost will likely create immense opportunities for the market to grow during the forecast period.
Growing global construction activities and the adoption of vacuum insulation panels (VIPs) for automated storage and retrieval globally drive the market share for vacuum insulation.
The growing need for vacuum insulation panels propels the global vacuum insulation market. Commercial and industrial sectors are the key driving forces in the global vacuum insulation market since they consume more vacuum insulation than cooling & freezing devices and logistics. Vacuum insulation saves energy that would otherwise be squandered, lowering energy expenses in the long run, one of the primary factors driving the global vacuum insulation market.
Government regulations also drive the global vacuum insulation market to improve the energy efficiency of commercial and industrial buildings. Other benefits of VIPs in the construction industry include the reduced thickness of building components, which provides more internal space and optimizes land utilization and the recyclability of constituent materials after their service life.
In the first quarter of 2020, the construction industry contributed more than US$ 900 million to U.S. economy, the highest level since the 2008 recession. In February 2020, it employed 7.64 million workers, the largest number since 2008. Then COVID-19 arrived in the United States, creating a US$60.9 million loss in GDP and a 6.5 million job loss, completely wiping out two years of GDP growth and four years of job growth. Thus improving construction industry business across the globe is expected to increase the demand for vacuum insulation in the forecast period.
Panasonic's vacuum Insulation Panel (VIP) technology has one of the best insulation levels with very low heat conductivity. U-Vacua panels outperform typical insulation materials by up to 20 times, allowing for exceptional insulation performance in a thin design. In order to establish a vacuum inside and manage thermal conduction for many years, the unique glass fiber core is encased in laminate film. The increased performance of U-Vacua saves space while boosting the energy efficiency of any system that demands minimum heat transfer energy loss.
Increasing stringent regulations promoting energy-efficient materials and R&D initiatives to introduce automated panels to reduce VIPs cost will likely create immense opportunities for the market to grow during the forecast period.
As energy costs continue to climb, energy conservation has become increasingly crucial. As a result, building energy conservation has become a significant research and development priority. In the United States, the operation of buildings consumes over 40% of the country's annual energy supply.
According to data on Europe's annual energy supply, they are building space heating and cooling account for roughly the same percentage of total energy usage. In order to insulate buildings, a variety of materials and applications have been explored. There have been advancements as new materials have emerged in recent years, some of which have superior insulating characteristics but are more expensive. Vacuum insulation panels are a recent example (VIPs).
According to studies, the thermal resistance of evacuated insulation is up to ten times greater than traditional insulation materials such as fiberglass, polyurethane and polystyrene for the same thickness.
Furthermore, VIPs (vacuum insulation panels) are high-tech insulation materials with unique characteristics. VIP is a non-homogeneous insulating panel with an insulating core comprised of special multilayer films impervious to air and moisture. Thus the growing requirement for the energy-efficient system is boosting the market share for vacuum insulation at the fastest pace.
On growing research on developing technologically advanced and cost-effective vacuums, the insulation industry is expected to create immense opportunities for vacuum insulation to grow in the forecast period.
VIPs will require further research to improve and spread commercial use in the building with all its evident advantages and disadvantages. Taking into account the new tighter restrictions on energy efficiency buildings established by Directive 2010/31 / E.U. and the aims outlined in "Climate & Energy" to reduce CO2 emissions by 80-95% by 2050.
While retaining all of the benefits of VIP, the research attempts to discover a more cost-effective alternative to materials and manufacturing technology. Research is underway at Iowa State University and U.S. Department of Energy's Ames Laboratory to develop a new generation of high-tech insulation. Because the manufacture of silicon nanoparticles, which make up the core of VIPs, is an energy and cost-intensive process, new research has focused on identifying lower-cost alternatives.
As a result, ash and diatomaceous earth are suggested, with diatomaceous earth being the most promising because it comprises fossilized remains of widespread unicell algae called diatoms. Research has already shown some encouraging results, far from the only ones. Thus tremendous growth in the R&D industry of the vacuum insulation panel is expected to create immense opportunities for the market to grow in the forecast period.
COVID-19 Impact Analysis
The outbreak of COVID-19 severely impacted the global vacuum insulation market, particularly due to reduced construction activity and the shutdown of vacuum manufacturing units for a limited period.
Furthermore, commercial vacuum manufacturers, on the other hand, have reduced their manufacturing rates as demand for new insulation systems has decreased as a result of the pandemic. Other end-users have seen a similar market trend, such as cooling & freezing devices and logistics. However, in recent years, some mega constructions projects have placed vacuum insulation orders that are expected to improve the demand for the product in the forecast period.
For instance, from airports to office buildings, the focus in 2021 will encompass a wide variety of construction undertakings as contractors fight to overcome the economic uncertainties brought on by the coronavirus pandemic. While many large American projects are on the radar, some contractors in U.S. also have major jobs underway in other countries.
Thus the mentioned arrivals of new construction projections are more likely to create opportunities for vacuum insulations to grow in the projected period.
Global Vacuum Insulation Market Segment Analysis
The global vacuum insulation market can be segmented on type, core material, raw material, application and region.
Silica-based vacuum insulation is growing fastest due to its high-performance insulation that offers both high efficiency and long-term performance.
The global vacuum insulation market based on core materials is segmented into silica, fiberglass, others (aerogel, polyurethane and micro-fleece boards). Out of the mentioned types, silica-based vacuum insulation is expected to hold the dominating position in the market. Nanoporous silica materials are one of the most prevalent materials utilized as VIP cores. Fumed silica, precipitated silica, and granular aerogel is all materials.
The maximum pore size of Fumed Silica (F.S.) is 300 nm, which is the same order of magnitude as the mean free path of an air molecule at ambient temperature and pressure. As a result, gas conduction is dramatically reduced even at atmospheric pressure. Furthermore, because the opacifier (silicon carbide powder or titanium dioxide) helps minimize radiative heat transfer, a total thermal conductivity of 0.019 - 0.020 W/mK (lower than the dry air conductivity of 0.025 W/mK) can be achieved.
For instance, TURVAC is offering TURVAC Si, a vacuum insulation panel based on fumed silica core material. The core is enclosed in a multilayer foil with a high barrier, resulting in up to 60 years of service life. TURVAC Si is primarily utilized in high-performance insulation systems requiring high efficiency and long-term performance. Turvac Si has a lifespan of 40 to 60 years.
Household appliances (refrigerators and freezers), medical refrigerators and TCP - temperature-controlled packaging, construction and structures (thermal bridges insulation, terraces, facades) and isolation of window shutters are widely used areas TURVAC SiTM vacuum insulation panels.
Source: DataM Intelligence Analysis (2021)
Geographical Analysis
The Asia-Pacific controlled the majority of the global market share. The market for VIPs is likely to rise in the future years due to increasing investments in residential and commercial buildings in countries including India, China, the Philippines, Vietnam and Indonesia.
The Asia-Pacific controlled the majority of the global market share. The market for VIPs is likely to rise in the future years due to increasing investments in residential and commercial buildings in countries including India, China, the Philippines, Vietnam and Indonesia. Several airport construction projects are now in development or planning stages in China. Chengdu Shuangliu Global Airport, Beijing Capital Global Airport, Guangzhou Baiyun Global Airport and others are among them. Furthermore, the government has announced major development plans, including relocating 250 million people to new megacities over the next ten years.
The government of India has set a goal of investing US$ 120.5 million in establishing 27 industrial clusters, which is projected to increase commercial construction in the country. The government of Indonesia has planned to invest US$ 450 million in construction sector by 2021, which is expected to create opportunities for residential construction in the country.
As a result, all of these investments and planned projects in Asia-Pacific countries are boosting construction activity in the region, which is expected to fuel demand for VIPs over the projection period.
Source: DataM Intelligence Analysis (2021)
Competitive Landscape
The global vacuum insulation market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth are Evonik Industries AG, LG Hausys Ltd, Panasonic Corporation, Thermal Visions, Dow Corning Corporation, OCI Company Ltd, Knauf insulation, Kingspan group LLC, Thermocor, Microtherm and others.
The major companies are adopting several growth strategies such as acquisitions, product launches and collaborations, contributing to the growth of the vacuum insulation market globally.
- For instance, in December 2019, Panasonic has developed a tempered vacuum insulated glass to increase variations in vacuum insulated glass with its proprietary technology.
Panasonic Corporation
Overview: Panasonic Corporation serves its product and solution through eight (8) business domain companies, namely, appliances company, life solutions company, connected solution company, automotive company, industrial solutions company, china & northeast Asia company, U.S. company and mobility solutions. The company has 529 subsidiaries globally. The company has three Panasonic centers in Tokyo, Osaka and Vietnam. The company has 25 R&D centers based in Europe, Greater China, ASEAN, India, North America and Japan.
Product Portfolio: The Company has a product portfolio of vacuum insulations that includes:
- VIXELL: VIXELL™ utilizes Panasonic's patented Vacuum Insulated Case (VIC), a seamless, integrally molded body with no joints. The thermally insulated frame keeps cold air in and can keep a temperature of -75oC/15oC for up to 18 days.
Unlike traditional vacuum insulated panels, Panasonic's VIC is not wrapped with aluminum film, enabling radio waves and magnetic fields to pass through and making it easier to communicate with IoT devices. Users can check the vacuum state within the VIC by placing the box on the specific inspection platform preloaded with a wireless vacuum sensor that uses contactless power supply technology.
Key Development
- For instance, in 2021, Panasonic Corporation has announced that it would begin renting out VIXELLTM, Vacuum Insulated Cooling Box. The user can determine the insulation efficacy of an insulated cooling box by using contactless power supply technology.
Why Purchase the Report?
- Visualize the vacuum insulation market segmentation by type, raw, core material and application, highlighting key commercial assets and players.
- Identify commercial opportunities in the vacuum insulation market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of vacuum insulation market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global vacuum insulation market report would provide approximately 69 market data tables, 64 figures and 180 pages.
Target Audience 2024
- Service Providers/ Buyers
- Education & Research Institutes
- Emerging Companies
- Manufacturers
- Logistics companies
- Distributors
