VIPs in Refrigeration Industry Drive Growth in the Global Market to $$2.1 Billion in 2029


Dublin, Nov. 13, 2023 (GLOBE NEWSWIRE) -- The "Vacuum Insulation Panels (VIPs) - A Global Market Overview, 2023" report has been added to ResearchAndMarkets.com's offering.

According to recent research findings and coverage, the refrigerators and freezers industry is the largest consumer of VIPs globally, estimated at 43.7 million square meters and valued at US$992 million in 2023. Projections indicate a robust compound annual growth rate (CAGR) of 17.2% during the 2023-2029 period, reaching 113 million square meters valued at US$2.1 billion by 2029.

Vacuum Insulation Panels (VIPs) are witnessing a substantial surge in demand driven by key market trends. These trends include the stringent energy efficiency standards for appliances and buildings, as well as the growing demand for complex and temperature-sensitive biotech medications. Furthermore, evolving regulations for energy efficiency in buildings, refrigerators, hot water storage systems, and automobiles are significantly impacting the development of the VIP market.

Refrigeration manufacturers are increasingly turning to VIPs to achieve optimal energy efficiency in their products. The cold chain logistics sector for pharmaceutical products is also experiencing heightened regulatory scrutiny, leading to a greater need for reliable and high-performance thermal packaging, which in turn is boosting the VIP market.

The global market for VIPs is analyzed in-depth in this report, covering various product types and applications across major geographic regions and key countries. The report includes market share analysis, current market size estimations, revenue projections, growth trends, regulatory updates, and emerging applications of VIPs. It also focuses on key business trends, including product innovations, capacity expansions, mergers and acquisitions, and joint ventures.

Product Outline:

The market for VIPs includes various product types and sub-types, categorized by core material and envelope material. Core materials comprise Fumed Silica VIPs, Fiberglass VIPs, and other core material-based VIPs, such as Aerogel and PU foam. Envelope materials include Aluminum Foils-based VIPs and Metalized Laminates-based VIPs.

Global market applications for VIPs encompass refrigerators and freezers, cold chain logistics, building and construction, as well as other applications like marine, automotive, aerospace, hot water storage, industrial and technical insulation, and more.

Analysis Period, Units, and Growth Rates:

The report reviews, analyzes, and projects the global VIP market from 2019 to 2029, considering market value in US$ and compound annual growth rates (CAGRs) projected from 2022 through 2029.

Geographic Coverage:

The report covers North America (The United States and Mexico), Europe (Austria, France, Germany, Italy, Switzerland, The United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of World (Turkey, Russia, Brazil, and Other ROW).

The impact of the COVID-19 pandemic on VIPs demand is also discussed, highlighting variations in intensity based on end-use application and region. Cold chain logistics for pharmaceutical products experienced robust growth in 2021 due to the pandemic's impact, with increased demand for sophisticated thermal packaging.

Key Topics Covered:

PART A: GLOBAL MARKET PERSPECTIVE

1. INTRODUCTION

2. KEY MARKET TRENDS
2.1 Higher Energy Efficiency Standards for Appliances to Drive Demand for VIPs
2.2 Thermal Packaging Systems for Healthcare and Food Logistics Continue to Push Demand for VIPs
2.3 Demand for Vacuum Insulation Panels in Building Applications Being Hampered by High Costs
2.3.1 New CEN Standard on VIPs in buildings to boost VIP industry in Europe

3. INDUSTRY LANDSCAPE
3.1 Vacuum Insulation Panels Producers

  • AeroSafe Global (United States)
  • Asahi Fiber Glass Co., Ltd. (Japan)
  • Chuzhou Yinxing New Material Technology Co., Ltd. (China)
  • CSafe Global (United States)
  • Etex Building Performance NV (Promat) (Belgium)
  • Fujian SuperTech Advanced Material Co., Ltd. (China)
  • Hitachi Global Life Solutions, Inc. (Japan)
  • Isoleika S. Coop. (Spain)
  • Jiangsu Sanyou Dior Energy-Saving New Materials Co., Ltd. (China)
  • Kingspan Insulation Ltd (United Kingdom)
  • Knauf Insulation, d.o.o. (Slovenia)
  • KyungDong One Co., Ltd. (South Korea)
  • Morgan Advanced Materials PLC (United Kingdom)
  • NEVEON Holding GmbH (Austria)
  • OCI Company Ltd. (South Korea)
  • Panasonic Corporation (Japan)
  • Sealed Air Corporation (United States)
  • Sichuan Micolon VIP New Material Co., Ltd. (China)
  • Siltherm Int'l Group Limited (China)
  • Turvac, inovativneizolacije, d.o.o. (Slovenia)
  • Unifrax I LLC (United States)
  • Vaku-Isotherm GmbH (Germany)
  • va-Q-tec AG (Germany)
  • VARIOTEC GmbH & Co. KG (Germany)
  • Winnezone Industrial Co., Ltd. (China)
  • Zhongheng New Material Technology Co., Ltd. (China)

3.2 Raw Materials Producers

  • Core Materials
  • BASF SE (Germany)
  • Cabot Corporation (United States)
  • Evonik Industries AG (Germany)
  • SUMTEQ GmbH (Germany)
  • Unicorn Insulations Limited (China)
  • Wacker Chemie AG (Germany)
  • Barrier Films
  • Amcor plc (Switzerland)
  • Anhui Tongda Packaging Material Co., Ltd. (China)
  • Avery Dennison Hanita (Israel)
  • Camvac Limited (United Kingdom)
  • Kuraray Co., Ltd. (Japan)
  • Mitsubishi Polyester Film GmbH (Germany)
  • Rexor (France)
  • Getters
  • SAES Getters S.p.A. (Italy)
  • SE-JONG Materials lnc. (South Korea)

4. KEY BUSINESS AND PRODUCT TRENDS

5. GLOBAL MARKET OVERVIEW
5.1 Global Vacuum Insulation Panels (VIPs) Market Overview by Core Material Type
5.1.1 Vacuum Insulation Panels (VIPs) Core Material Type Market Overview by Global Region
5.1.1.1 Fumed Silica VIPs
5.1.1.2 Fiberglass VIPs
5.1.1.3 Other Core Material-based VIPs
5.2 Global Vacuum Insulation Panels (VIPs) Market Overview by Envelope Material Type
5.2.1 Vacuum Insulation Panels (VIPs) Envelope Material Type Market Overview by Global Region
5.2.1.1 Aluminum Foil based VIPs
5.2.1.2 Metalized Laminates based VIPs
5.3 Global Vacuum Insulation Panels (VIPs) Market Overview by Application
5.3.1 Vacuum Insulation Panels (VIPs) Application Market Overview by Global Region
5.3.1.1 Refrigerators & Freezers
5.3.1.2 Cold Chain Logistics
5.3.1.3 Building & Construction
5.3.1.4 Other Applications

PART B: REGIONAL MARKET PERSPECTIVE

REGIONAL MARKET OVERVIEW

6. NORTH AMERICA

7. EUROPE

8. ASIA-PACIFIC

9. REST OF WORLD

PART C: GUIDE TO THE INDUSTRY

PART D: ANNEXURE

For more information about this report visit https://www.researchandmarkets.com/r/2g8uzb

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Attachment

 
Global VIPs market 20223

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