As per the latest findings of the research report titled ‘Global Vacuum Insulation Panels Market Size study, By Core Material (Silica, Fiberglass, Others), By Raw Material (Silica, Fiberglass, Plastic, Metal, Others), By Application (Construction, Cooling & freezing devices, Logistics, Others), By Type (Flat, Special shape), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global vacuum insulation panels market which was valued at USD 8.14 billion in 2021 is likely to progress at a growth rate of 4.99% during the review period and subsequently attain a valuation of USD 11.44 billion by the end of 2028.

Soaring construction activities, growing packaging industry, and surge in the demand for consumer appliances are the major factors driving global vacuum insulation panels market growth.

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For those unaware, a vacuum insulated panel is a type of thermal insulation that includes a gas-tight enclosure around a rigid core to eliminate every ounce of air. These panels high performing thermal insulation solutions with low thermal conductivity.

Besides, vacuum insulated panels are comparatively more robust than traditional insulation products, making them a preferable option across several industry verticals.

In addition, growing adoption of energy codes and regulations for new buildings is likely to unearth new opportunities for generating market remuneration over the analysis timeframe.

However, the expensive nature of the product as well as their short shelf life may impede the growth dynamics of the industry in the forthcoming years.

Moving on to segmentation, worldwide vacuum insulation panels marketplace is bifurcated by core material, application spectrum, and type of raw material. Each division is critically analyzed for readers to understand the major avenues for revenue generation.

From a geographical viewpoint, Asia Pacific market is likely to account for a significant share of the overall remuneration generated during 2022-2028, owing to the proliferation of the construction sector, with majority investments toward residential and commercial constructions in emerging economies.

Meanwhile, North America industry is slated to record a substantial CAGR through 2028, due to the availability of government funds for expanding construction activities as well as the prevalence of leading players in the region.

Speaking of the competitive framework, key players including Kevothermal Ltd., OCI Company Ltd., Dow Corning Corporation, Panasonic Corporation, Evonik Industries AG, Thermacor Process Inc., LX Hausys Ltd., VA-Q-tec AG, Porextherm Dämmstoffe GmbH, and Microtherm Sentronic GmbH are influencing market dynamics.