The global Vacuum Insulation Panel Market is expected
to reach USD 9.07 billion by 2024, according to a new report by Grand View
Research, Inc. Growing construction spending is expected to assist the growth
for vacuum insulation panel over the forecast period. These are preferred more,
owing to their thermal resistance properties compared to conventional
insulation materials.
Moreover,
the International Energy Agency issued strict regulations to conserve energy
which has further propelled the demand for such panels. These panels help in
reducing greenhouse gas emissions such as carbon dioxide from the atmosphere,
thus helping to prevent polluting the environment to a large extent. Such a
trend is anticipated to benefit the overall market over the next eight years.
However,
vacuum insulation panels exhibit a heavier weight than conventional insulation
materials which is expected to remain a key challenge for market participants.
Factors such as, durability, shape and fragility are also anticipated to
determine the demand for vacuum insulation panels in future.
Several
R&D initiatives are being taken to introduce automated panels, which shall
result in cost reduction of vacuum insulation panels over the forecast period.
Recently, EVAL EVOH resins are added to provide an outer lamination coating for
vacuum insulation panels to increase their shelf life.
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sample copy or view summary of this report, click the link below:
Further key findings from the study suggest:
- The global Vacuum Insulation Panel Market demand was 31.4 million square meters in 2015 and is expected to reach 45.7 million square meters by 2024, growing at a CAGR of 3.8% from 2016 to 2024
- Silica-based panels dominated the global market in 2015 and are expected to grow at a CAGR of 4.2% over the next eight years. Silica-based panels are widely used in the construction industry due to its thermal resistant properties.
- Flat glass emerged as the leading product segment and accounted for 55.4% of total market volume in 2015. Easy manufacturing method without any production hassles is an important factor that determines its growth over the forecast period.
- Construction was the most dominant application with demand share exceeding 55% in 2015. The shift towards energy conservation coupled with increasing construction spending in Asia Pacific is expected to drive this segment.
- Asia Pacific was the leading regional market and accounted for 42.6% of global demand in 2015. Growing urbanization coupled with increasing trend of infrastructural development due to rising population particularly in China and India is expected to steer the regional growth over the forecast period.
- Major industry participants include Evonik Industries, Hausys Ltd, Panasonic Corporation, ThermoCor, OCI company Ltd. and Porextherm Dämmstoffe GmbH.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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