Global Vacuum Insulated Panels Market Size, Share, Opportunities, And Trends By Core Material (Silica, Fiberglass, Others), By Application (Construction, Cooling and Freezing Devices, Logistics, Others), And By Geography - Forecasts From 2024 To 2029

The global vacuum-insulated panels market is predicted to grow at a CAGR of 5.82% during the forecast period (2024-2029).

A vacuum-insulated panel (VIP) is defined as a vacuum insulation panel, which is a special type of thermal insulation system for buildings. The core material's open cell foam structure is evacuated and surrounded by a gas barrier layer. Because of the low pressure, the total conductivity measured in the best panels is as low as 5 mW/mK, which is six to ten times lower than typical insulating materials. VIPs allow for the creation of thin insulation systems with extremely high thermal performance. The heat transfer modeling in these panels is sophisticated, with four components of heat fluxes: radiative transfer, solid conduction, gaseous transfer, and envelope thermal bridge.

The increasing demand for chilled meals drives energy use and space needs. As a result, the retail industry requires refrigerated cabinets and counters that are both energy-efficient and space-saving. Evonik vacuum insulation panels with silica save energy costs and help safeguard the environment. They ensure the optimum thermal insulation with minimal wall thicknesses, allowing supermarket cabinet makers to upgrade to higher energy efficiency classes.

VIPs provide 10 times more thermal insulation than typical insulation materials of equal thickness. For example, 2 cm of VIP insulation can replace 20 cm of fiber or foam insulation. VIPs also have a service life of up to fifty years. Refrigerators fitted with VIPs consume up to 50% less power. VIP containers keep heat or cold-sensitive cargo at a consistent temperature for up to five days without needing an external power supply. Using VIPs in new building construction or refurbishment greatly cuts heating expenses, lowering the carbon footprint.

GLOBAL VACUUM INSULATED PANELS MARKET DRIVERS:

• VIPs have nearly endless uses when precise and consistent temperature stability is required over long periods or where space is constrained. They are used in various industries, including automotive and recreational vehicles, maritime and electronics, and medical and consumer products logistics. For instance, in May 2024, the United States sold 124,921 plug-in cars (98,797 BEVs and 26,124 PHEVs), a 3.2% increase over May 2023. Meanwhile, PEVs accounted for 8.74% of overall LDV sales in the same month. Overall, 590,477 PHEVs and BEVs were sold in 2024, as declared by the Argonne National Laboratory.

Additionally, owing to VIPs’ long-term performance, they can be effectively used for cold chain packaging systems like thermal containers, industrial freezers, and passive and active coolers, especially when there is a long transit time. Federal rules and regulations compel agencies to acquire ENERGY STAR-qualified or FEMP-designated items in all product categories covered by these programs and in any procurement activities not explicitly exempted by law. Furthermore, Federal Acquisition Regulation (FAR) Part 23.206 requires agencies to include the language in FAR section 52.223-15 in contracts and solicitations that supply, acquire, provide, or specify energy-consuming items for federal government buildings. They provide the finest thermal values as an insulating option, but they must be handled carefully to avoid damage. If handled carefully, the inner core of VIPs may be reused and built with easy compartment replacement in mind.

In 2021, India's Bureau of Energy Efficiency (BEE) issued notifications extending the validity of the current energy efficiency standards-based ratings for Deep Freezers and Light Commercial Air Conditioners, which are voluntary products under the Standards & Labelling Programme. Under this program, deep freezers and light commercial air conditioners have been proposed as mandatory standards; therefore, all manufacturers had to make such structures and select an appropriate testing body (NABL or ILAC).

• Product innovation plays an important role in the VIPs industry as there is ongoing research into increasing thermal efficiency, lifespan, value for money, and the versatility of these insulation systems. Innovations frequently focus on increasing the thermal conductivity of VIPs, making them more effective at controlling interior temperatures and lowering energy use. WedgeVac vacuum-insulated panel is a type of thermal insulation made out of a gas-tight shell enclosing a rigid core from which air has been evacuated. It is utilized in building construction, refrigeration units, and insulated shipping containers to give superior insulation performance over traditional insulation materials. Wedge India offers high-quality, low-cost vacuum insulation panels for cold boxes, food storage, vaccine transit, and freezer buildings.

Furthermore, advances in materials and manufacturing techniques help to reduce production costs, making VIPs more competitive than traditional insulating materials. Innovations also address durability problems by increasing resilience to moisture infiltration and mechanical damage, prolonging VIP installations' life. Va-Q-tec possesses the world's biggest VIP product range and over fifty active worldwide intellectual property rights, including the unique va-Q-check quality control system. In addition, TÜV SÜD routinely certifies va-Q-tec in line with DIN EN ISO 9001, ISO 50001, and ISO 14001.  Panasonic's Vacuum Insulation Panel (VIP) technology, on the other hand, boasts one of the greatest levels of insulation performance while maintaining extremely low thermal conductivity. U-Vacua® panels are 13 times better than polyurethane foam insulation, which means an optimum insulation performance in thin structures. It has a glass fiber core, which is laminated with special film; this makes a vacuum in the pipe and regulates heat conduction for many years.

Further, as Knauf Insulation sets sustainable development, it includes environmental protection and a commitment to providing the most energy-efficient products and solutions as one of its main priorities. A part of the company’s revenues is re-invested into constructing a new line to manufacture superinsulators vacuum insulated panels (VIPs). Knauf Insulation vacuum insulated panels are sold under the brand name Knauf Insulation UltraSpace.

GLOBAL VACUUM INSULATED PANELS MARKET SEGMENT ANALYSIS:

• By application, construction is one of the most rapidly growing segments in the market.  

VIPs are becoming increasingly popular in the building sector due to their superior thermal insulation capabilities. They are far more effective at insulating than standard insulation materials such as fiberglass or foam. This efficacy enables thinner insulating layers, which is very useful in construction, where space is limited. Nonetheless, investing in Canada's infrastructure program is one of the ways the government supports various sectors. Moreover, the program also deals with strong, sustainable, and diverse communities for Canadian people and the availability of better, reliable, and updated services to make people’s lives easier. The program funds are about USD 33 billion and have been received through two-party deals between Housing, Infrastructure, and Communities Canada and every province and territory.

VIPs can be said to be finding more applications in the building sector because of their superior performance in thermal insulation as opposed to other conventional methods. This makes them an attractive option for residential and commercial building projects that must fulfill high energy efficiency criteria. In line with this, government statistics from the US Census Bureau presented permit data for April 2024, including a total permit of 14,40,000 and the completion of 16,23,000 for new residential constructions.

• Asia Pacific's vacuum-insulated panels market is anticipated to grow significantly.

The Asia Pacific market for vacuum-insulated panels is expected to increase significantly. VIPs are gaining popularity in various industries because of their superior thermal insulation capabilities, which assist in reducing energy usage and maintaining constant temperatures. This is especially important in businesses like construction, cold chain logistics, and appliances, which prioritize energy efficiency and sustainability. The Integrated Cold Chain and Value Addition Infrastructure Scheme, as per Invest India, encourages integrated and full cold chain facilities that do not break from the farm gate to the customer, reducing losses by boosting efficiency in farmer product collecting, storage, transportation, and minimum processing. This plan supports both horticultural and non-horticultural output. As of December 31, 2022, this plan has built 8.38 lakh MT of cold storage capacity in India.

However, according to NABARD's assessment of All India's Cold Chain Infrastructure Capacity (Assessment of Status and Gap), the country requires an extra 3.5 MT of cold storage capacity. Under the Integrated Cold Chain and Value Addition Infrastructure program has approved 376 cold chain projects, with 268 functioning.

Moreover, China's 14th Five-Year Plan focuses on new infrastructure projects in transportation, energy, water systems, and urbanization. According to projections, the total investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) will be over 27 trillion yuan (USD 4.2 trillion).

Another growing component that is driving the market at a higher rate is the electronics industry. In 2023, India's electronics sector was estimated at USD 155 billion, with local manufacturers accounting for 65%, as stated by Invest India.  Moreover, according to data from the Shanghai Municipal People’s Government, China’s consumer electronics retail sales were at USD 305 billion in 2023, with a 4% growth rate. In 2024, the rate rose to 5%. VIPs are becoming more popular as people become more aware of their benefits in boosting building insulation, preserving perishable items during transportation, and improving refrigeration efficiency. As Asia Pacific nations continue to urbanize and industrialize, the demand for VIPs will likely increase, driven by tight energy efficiency laws and the need for innovative solutions to environmental concerns.

Global Vacuum Insulated Panels Market Key Developments:

• In November 2023, Whirlpool Corporation launched SlimTech insulation, the first vacuum-insulated structure (VIS) technology in a refrigerator in North America. This method marks a substantial advancement in refrigeration technology, which has traditionally depended on thick polyurethane foam for insulation.
• In February 2022, NEVEON's Specialties business unit unveiled a new vacuum insulation panel made on a fully automated line in Nýrsko, Czech Republic.

Global Vacuum Insulated Panels Market Scope:

Report Metric	Details
Growth Rate	CAGR of 5.82% from 2024 to 2029
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2024
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Core Material Application Geography
Companies Covered	Knauf Insulation Avery Dennison Va-Q-tec Evonik Industries AG Recticel Insulation
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

The global vacuum insulated panels market is segmented and analyzed as follows:

• By Core Material
  • Silica
  • Fiberglass
  • Others
• By Application
  • Construction
  • Cooling and Freezing Devices
  • Logistics
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Rest of the Middle East and Africa
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Growth in Construction and Infrastructure Development

4.1.2. Advancements in Technology and Materials

4.2. Market Restraints

4.2.1. High Initial Cost

4.2.2. Regulatory Compliance

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL VACUUM INSULATED PANELS MARKET BY CORE MATERIAL

5.1. Introduction

5.2. Silica

5.3. Fiberglass

5.4. Others

6. GLOBAL VACUUM INSULATED PANELS MARKET BY APPLICATION

6.1. Introduction

6.2. Construction

6.3. Cooling and Freezing Devices

6.4. Logistics

6.5. Others

7. GLOBAL VACUUM INSULATED PANELS MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Knauf Insulation

9.2. Avery Dennison

9.3. Va-Q-tec

9.4. Evonik Industries AG

9.5. Asahi Fiber Glass Company Limited

9.6. Recticel Insulation

9.7. Panasonic Industrial Devices

9.8. Kingspan Group

9.9. Etex Group

9.10. Siltherm Japan Limited

9.11. Holcim Elevate

9.12. Wedge India

Knauf Insulation

Avery Dennison

Va-Q-tec

Evonik Industries AG

Asahi Fiber Glass Company Limited

Recticel Insulation

Panasonic Industrial Devices

Kingspan Group

Etex Group

Siltherm Japan Limited

Holcim Elevate

Wedge India