Vacuum Insulation Panel (VIP) Market Top Players, Competitive Strategies, and Trends Analysis

Global Vacuum Insulation Panel (VIP) Market is anticipated to grow significantly in the forecast period owing to the increase in demand from construction industry. Vacuum insulation panel is manufactured with open porous core materials bounded with gas barrier. The open porous core materials are used for high thermal insulation capacity and mechanical strength and gas barrier offers resistance to vapour and air for the internal core material. Vacuum insulation panel is widely used in refrigeration units, building construction and insulation for shipping containers. It ideally replaces the conventional insulation panels owing to the properties.

Vacuum insulation panel (VIP) market is driven by rising urbanization, growing globalization, increasing awareness for the advantages like help in reducing thickness of construction components, and increase in use of vacuum insulation panel in cold box and other cooling containers for shipping food products. Moreover, stringent regulations by International Energy Agency for energy conservation are driving the vacuum insulation panel market. These strict regulations is propelling the demand for vacuum insulation panel. However, market is hampered by significant cost of vacuum insulation panels for unique size due to extra customization cost. Moreover, heavy weight of vacuum insulation panels as compared to the traditionally used insulation panels is also an obstacle to the market.

Nevertheless, manufacturers are increasingly focusing on improving the efficiency of vacuum insulation panels with the introduction of novel technologies. Improvements in the core material is one of the major expected technological advancements in the domain, which will help the manufacturers to produce competent products for the growing needs.

Vacuum insulation panel market is categorized on the basis of product type, core material, end user, and geography. On the basis of product type, market is divided into special shape panel and flat panel. Flat panel segment is expected to lead the market in future.

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In terms of core material, vacuum insulation panel (VIP) market is divided into fiberglass, silica, and others. Silica core material is projected to lead the market owing to their high thermal insulation property in comparison to others. Fiberglass segment also accounts for remarkable market share owing to the high thermal efficiency and low thermal conductivity properties.

In terms of end user, market is divided into cooling and freezing devices, logistics, construction, and others. Construction segment is expected to hold larger share of the market owing to high demand from underground and residential construction activities.

Geographically, market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is predicted to dominate the market due to growing construction sector and rise in urbanization in developing economies like India and China. Some of the megaprojects in China that used vacuum insulation panels are Lanzhou-Xinjiang high-speed railway line, New Guanjiao Tunnel, etc. Furthermore, developing economies of Latin America like (UAE) United Arab Emirates and Brazil are also expected to contribute significantly to the market due to rise in construction activities.

The key players in vacuum insulation panel (VIP) market are Panasonic, Kevothermal, Va-Q-Tec, Porextherm, KCC, Etex Group (Promat and Marley Eternit), Kingspan Insulation, ThermoCor, Knauf Insulation, LG Hausys, Yinxing Electric, Fujian SuperTech, Sanyou Dior Insulation Materials, Turna, Weiaipu New Materials, Qingdao Creek, Zhongke Baoruite, and ZhongHeng New Materials.

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