San Francisco, 6 December 2018: 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.
Access
Research Report of Vacuum Insulation Panel
Market @ www.grandviewresearch.com/industry-analysis/vacuum-insulation-panel-market
Further key findings from the report 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.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research has segmented the
global Vacuum Insulation Panel Market on the basis of core material, product,
raw material, application, and region:
Global Vacuum Insulation Panels Core Material
Outlook (Volume, Million Meter Squares; Revenue, USD Million, 2014 - 2024)
·
Silica
·
Fiberglass
·
Others
Global Vacuum Insulation Panels Product
Outlook (Volume, Million Meter Squares; Revenue, USD Million, 2014 - 2024)
·
Flat
·
Special Shape
Global Vacuum Insulation Panels Application
Outlook (Volume, Million Meter Squares; Revenue, USD Million, 2014 - 2024)
·
Construction
·
Cooling & Freezing devices
·
Logistics
·
Others
Global Vacuum Insulation Panels Raw
Material Outlook (Volume, Million Meter Squares; Revenue, USD Million, 2014 -
2024)
·
Plastics
·
Metals
Global Vacuum Insulation Panels Regional
Outlook (Volume, Million Meter Squares; Revenue, USD Million, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Vacuum Insulation Panel Market@ www.grandviewresearch.com/press-release/global-vacuum-insulation-panel-market
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.
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