PUBLISHER: Industry Experts | PRODUCT CODE: 1364945
PUBLISHER: Industry Experts | PRODUCT CODE: 1364945
Key market trends driving demand for VIPs include stringent energy efficiency standards for appliances and buildings, demand for ever more complex and often temperature-sensitive biotech medications. The market development of VIPs has been largely impacted by the evolution in regulations set for energy efficiency in buildings, refrigerators, hot water storage systems and automobiles.
Refrigeration manufacturers are increasingly employing VIPs for achieving optimum energy efficiency. Cold chain logistics for pharmaceutical products is also under intense regulatory scrutiny, which has increased the need for reliable and high-performance thermal packaging, which has boosted the market for VIPs. Refrigerators & freezers industry is the largest consumer of Vacuum Insulation Panels (VIPs) globally, estimated at 43.7 million square meters, valued at US$992 million in 2023, and is further projected to record a robust CAGR of 17.2% during 2023-2029 period in reaching 113 million square meters valued at US$2.1 billion by 2029.
The market for product types/sub-types of Vacuum Insulation Panels (VIPs) analyzed in this report includes:
Global market for applications of Vacuum Insulation Panels (VIPs) explored in this study includes:
The report reviews, analyzes and projects the global Vacuum Insulation Panels (VIPs) market for the period 2019-2029 in terms of market value in US$ and the compound annual growth rates (CAGRs) projected from 2022 through 2029