Vacuum Insulation Global Market 2024 To Reach $14.25 Billion By 2028 At Rate Of 8.9%
The Business Research Company’s Vacuum Insulation Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UNITED KINGDOM, September 18, 2024 /EINPresswire.com/ — The vacuum insulation market has experienced robust growth in recent years, expanding from $9.37 billion in 2023 to $10.13 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to growth in green building initiatives, cost reduction efforts, industrial insulation needs, automotive lightweighting, energy efficiency regulations.
What Is The Estimated Market Size Of The Global Vacuum Insulation Market And Its Annual Growth Rate?
The vacuum insulation market is projected to continue its strong growth, reaching $14.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to rise in sustainable construction, growing demand for hvac efficiency, aerospace and automotive growth, urbanization and infrastructure development, increased awareness of climate change.
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Growth Driver Of The Vacuum Insulation Market
Increased utilization across cooling and freezing applications is expected to propel the growth of the vacuum insulation market going forward. Freezing applications use vacuum insulation to help keep food cool for a longer period than other coolers. Vacuum insulation is helpful for fast and safe refrigerated transport of medicines and pharmaceutical products.
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Who Are the Leading Competitors in the Vacuum Insulation Market Share?
Key players 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.
Which Key Trends Are Driving Vacuum Insulation Market Growth?
Major companies operating in the vacuum insulation market are increasing their focus on introducing innovative insulating glass to gain a competitive edge in the market. VacuMax Vacuum Insulating Glass (VIG) is an architectural glass that uses vacuum technology to create an insulating glass unit (IGU) with exceptional insulation performance.
How Is The Global Vacuum Insulation Market Segmented?
1) By Type: Flat Panel, Special Shape Panel
2) By Raw Material: Plastics, Metals
3) By Core Material: Silica, Fiberglass, Other Core Materials
4) By End-User Industry: Construction, Cooling and Freezing Devices, Logistics, Other End-User Industries
Geographical Insights: Asia-Pacific Leading The Vacuum Insulation Market
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 the vacuum insulation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Vacuum Insulation Market Definition
Vacuum insulation refers to an insulation service that is used to provide better insulation performance than conventional insulation materials and to transport heat-sensitive products in extreme conditions and high temperatures.
Vacuum Insulation Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global vacuum insulation market report covering trends, opportunities, strategies, and more
The Vacuum Insulation Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on vacuum insulation market size, vacuum insulation market drivers and trends, vacuum insulation market major players, vacuum insulation competitors’ revenues, vacuum insulation market positioning, and vacuum insulation market growth across geographies. The vacuum insulation market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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