Vacuum Insulation Global Market Report 2024

Vacuum insulation is a type of insulation service designed to offer superior insulation performance compared to conventional insulation materials. It is particularly useful for transporting heat-sensitive products in extreme conditions and high temperatures. This insulation method involves a flat element consisting of an open porous core material that can withstand the external load caused by atmospheric pressure. A gas-tight envelope is used to maintain the required vacuum quality.

The main types of vacuum insulation include flat-panel and special-shape panels. Flat panels are employed for optimized temperature insulation, following the principles of a thermos flask. Various raw materials are used in the production of vacuum insulation, including plastics, metals, and core materials such as silica, fiberglass, and others. Vacuum insulation is utilized in construction, cooling and freezing devices, logistics, and various other end-user industries.

The vacuum insulation market research report is one of a series of new reports that provides vacuum insulation market statistics, including vacuum insulation industry global market size, regional shares, competitors with a vacuum insulation market share, detailed vacuum insulation market segments, market trends and opportunities, and any further data you may need to thrive in the vacuum insulation industry. This vacuum insulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The vacuum insulation market size has grown strongly in recent years. It will grow from $9.37 billion in 2023 to $10.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The expansion observed in the historical period can be attributed to several factors, including the increase in green building initiatives, efforts to reduce costs, the demand for industrial insulation, automotive lightweighting, and the implementation of energy efficiency regulations.

The vacuum insulation market size is expected to see strong growth in the next few years. It will grow to $14.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the forecast period can be attributed to several factors, including the rise in sustainable construction, an increasing demand for HVAC (Heating, Ventilation, and Air Conditioning) efficiency, growth in the aerospace and automotive industries, urbanization, infrastructure development, and heightened awareness of climate change. Major trends expected in the forecast period include the integration of smart building technologies, the certification of green buildings, advancements in high-performance refrigeration, the adoption of customized VIP (Vacuum Insulation Panel) solutions, and the development of vacuum insulated glass (VIG).

The projected growth in the vacuum insulation market is expected to be driven by increased utilization in cooling and freezing applications. Vacuum insulation plays a crucial role in extending the cooling duration for food storage and facilitating the safe transport of medicines and pharmaceutical products. An example is the widespread use of air conditioning (AC) in 88% of U.S. households, as reported by the International Energy Agency in May 2022. Thus, the heightened application in cooling and freezing scenarios is a significant factor propelling the vacuum insulation market.

The vacuum insulation market is anticipated to benefit from the expansion of the construction industry. This industry encompasses diverse activities related to the design, planning, and construction of buildings and infrastructure. Vacuum insulation technology, which involves creating a vacuum between panels to reduce heat transfer, contributes to highly efficient thermal insulation in buildings. This not only helps maintain comfortable indoor temperatures but also enhances energy efficiency. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported a notable increase in privately owned home starts in May 2023, signifying growth in the construction sector. Hence, the growth of the construction industry is a key driver for the vacuum insulation market.

A prominent trend in the vacuum insulation market is technological advancements. Major players in the vacuum insulation sector are actively developing innovative products with advanced technologies to solidify their market position. For instance, Panasonic Corporation introduced the VIXELL Vacuum Insulated Cooking Box in 2021, utilizing contactless power supply technology to enable users to gauge insulation performance. This reflects the trend of incorporating cutting-edge technologies to enhance vacuum insulation products.

Major companies in the vacuum insulation market are focusing on introducing novel insulating glass to gain a competitive advantage. VacuMax Vacuum Insulating Glass (VIG), introduced by Vitro Architectural Glass in September 2021, employs vacuum technology to create an insulating glass unit (IGU) with outstanding insulation performance. The slim construction of VacuMax VIG, with a total thickness of only 8.3mm, allows its integration into various glazing systems, window frames, or curtainwall applications. The product's superior insulation capabilities make it suitable for exterior glazing applications that demand exceptional insulating performance. This highlights the trend of introducing innovative insulating glass solutions in the vacuum insulation market.

In July 2021, Vitro Architectural Glass's acquisition of LandGlass and VIG Technologies, undisclosed in amount, indicates a strategic move to expand the presence of vacuum-insulated glass products in North America. Both LandGlass and VIG Technologies are North American-based manufacturers specializing in vacuum-insulated glass, reflecting the industry's focus on growth and expansion.

Major companies operating in the vacuum insulation market include BASF SE, M&I Materials Limited, Morgan Advanced Materials, Evonik Industries AG, LG Hausys, Panasonic Corporation, Dow, Kevothermal LLC, ThermoCor, Va-Q-Tec AG, Microtherm Sentronic GmbH, OCI Company Ltd., AVERY DENNISON CORPORATION, Kingspan Group, KCC CORPORATION, GereMarie Corporation, Svenska Aerogel AB, Saffil Ltd., Foshan JCT Machinery Co. Ltd., Anavid Insulation Products, Sulzer Metco, Luxfer Gas Cylinders, HPQ Silicon Resources Inc., Isoleika S.L., Thermal Windows, Saint-Gobain, Perlite Institute, TechnoNICOL Corporation

Asia-Pacific was the largest region in the vacuum insulation market share in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in this global vacuum insulation market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the vacuum insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The vacuum insulation market includes revenues earned by preventing heat loss through conduction. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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