The global vacuum insulation panels market size was US$ 7.75 billion in 2021. The global vacuum insulation panels market size is forecast to reach US$ 11.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.

Vacuum insulation panels possess low thermal conductivity and provide high-performance thermal insulation. They are several times more effective than conventional insulation materials. A vacuum insulation panel (VIP) is a hollow thermal insulation panel with an evacuated gas-impermeable core enclosed in a thin, gas-tight outer envelope. Combining rigid material with vacuum inhibits heat transfer, resulting in an extremely high thermal resistance. There are many different applications for VIPs, such as home appliances, construction, logistics, packaging, and many more.

Factors Influencing Market Growth

• Factors driving the global vacuum insulation panels market include an increase in construction activity and the rising demand for cold storage containers in the transportation sector. 
• Increased stringent regulations that promote the use of energy-efficient materials, and R&D programs to introduce automated panels in order to reduce the price of VIPs, are forecast to create significant opportunities for the global market during the forecast period.
• Several factors are contributing to the growth of the global vacuum insulation panels market, including a massive population, the increase in middle-class income, and urbanization.
• Due to their high cost for non-standard dimensions and heavyweight of the panels, the market may have slow growth.

Impact Analysis of COVID-19

COVID-19 has adversely affected the global economy with devastating effects on world trade, affecting households, businesses, financial institutions, industrial establishments, and infrastructure companies simultaneously. The spread of COVID-19 has severely reduced construction activities worldwide, which had a negative impact on the overall market for vacuum insulation panels volume in 2020. As a result of lockdown restrictions, the building materials sector has suffered a huge loss of trade, causing manufacturing operations to slow down during the pandemic. It was challenging to procure raw materials due to disruptions in logistics. Thus, the COVID-19 pandemic had negatively impacted the global market growth.

Regional Insights

The Asia Pacific region held the largest market share in 2021 and is forecast to grow at the highest CAGR during the forecast period. The growing infrastructure industry in China will drive growth in this region. As a result of fast urbanization and increased government investments in infrastructure, the construction industry in the region will grow. Thus, the growing construction will boost the growth of the vacuum insulation panels market. 

Leading Competitors

The leading prominent companies profiled in the global vacuum insulation panels market are:

• Evonik Industries AG
• LG Hausys Ltd.
• Panasonic Corporation
• BASF SE
• Rockwool International
• Kingspan Group LLC
• Bridgestone
• Dow Corning Corporation
• Thermocor
• Microtherm
• OCI Company Ltd.
• PorexthermDämmstoffe GmbH
• OCI Company Ltd.
• Va-Q-Tec AG
• Kevothermal LLC.
• PorexthermDämmstoffe GmbH 
• Other Prominent Players

Scope of the Report

The global vacuum insulation panels market segmentation focuses on Raw Material, Core Material, Type, End-User, and Region.

Segmentation based on Raw Material

• Plastics
• Metal

Segmentation based on Core Material

• Silica
• Fiberglass
• Others

Segmentation based on Type

• Flat Panel
• Special Shape Panel

Segmentation based on End-User

• Construction
• Cooling & Freezing Devices
• Logistics
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America