Market Highlights Vacuum insulation panel market 2020 can progress at an approximate rate of 4% between 2018 and 2023 (review period), reveals Market Research Future (MRFR).
Top Boosters and Main Restraints The vacuum insulation panels market growth has been quite notable owing to the thriving infrastructure industry. Over the years, construction projects have increased majorly across the world with most of the focus on the development of energy efficient buildings. Vacuum insulation panels are touted to emerge as an integral component within the construction industry given their high thermal resistance. Stringent rules and regulations pertaining to energy conservation can be another important growth booster in the global market. Sample: https://www.marketresearchfuture.com/sample_request/2438 With the surge in the transportation of frozen food across long distances, the need for higher thermal insulation for longer time period has mounted. As a result, the demand for vacuum insulated panels in the frozen transportation and cold storage industry has soared considerably in recent years. Other than this, the increasing refrigerated transport of medicines and pharmaceutical products around the world has also had a positive impact on the demand for vacuum insulated panels. Due to long lifespan, the demand for silica-based vacuum insulation panels has escalated within the building construction industry, which results in strong market growth. Besides, the market for fiberglass based vacuum insulation panels has also grown significantly, thanks to the high demand generated in the refrigeration industry. Fast-paced urbanization on a global scale also benefits the vacuum insulation panels market, projects MRFR.
Market Segmentation The primary segments listed in the report, based on which the research on the vacuum insulation panels market has been conducted are material, type, and end use. The materials available in the global market are silica as well as fiberglass. Silica materials are commonly deployed in panels, owing to which the segment owned roughly half of the share in the global market. The demand for this material is high owing to its properties including high thermal insulation compared to others. The fiberglass segment can also exhibit significant growth in the years to come, on account of its higher thermal efficiency as well as lower thermal conductivity. The types of vacuum insulation panels are special and flat shape. Flat products note impressive demand in the market, compared to special shaped panels. Flat panels’ manufacturing process is considerably easy, whereas it is rather complex with it comes to the specially shaped ones. Flat shaped vacuum insulation panels boast of high thermal insulation and find numerous use cases in freezing and cooling devices, construction industry as well as logistics industry. Depending on the end use-based segment, the vacuum insulation panels market size has been considered for home appliances, logistics and construction. In 2015, the lead was taken by the construction segment, owing to the high use of vacuum insulation panels in residential and underground construction sections. Out of all the non-traditional insulation materials present in the construction sector, vacuum insulation panels find the most widespread use in the industry given its maximum thermal insulating capacity.