Market Size of Vacuum Insulation Panel Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 8.39 Billion |
| Market Size (2029) | USD 10.92 Billion |
| CAGR (2024 - 2029) | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vacuum Insulation Panel Market Analysis
The Vacuum Insulation Panel Market size is estimated at USD 8.39 billion in 2024, and is expected to reach USD 10.92 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market due to the shutdown of manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, robust demand from the construction industry and the adoption of vacuum insulation panels for automated storage and retrieval worldwide are factors driving the studied market's growth.
- On the flip side, the high cost for non-standard sizes and the heavy weight of the panels will likely hinder the studied market's growth.
- However, increasingly stringent regulations promoting energy-efficient materials and R&D initiatives to introduce automated panels to reduce vacuum insulation panel costs will likely provide opportunities for the market studied during the forecast period.
