Vacuum Insulated Panels Market Size, Share & Industry Impact Analysis By Material (Metal and Non-Metal), By Structure (Flat and Special Shape), By End-User (Pharmaceutical, Food & Beverages, Construction, and Others), and Regional Forecast till 2032

The global vacuum insulated panels market is expanding owing to the increasing demand for energy-efficient infrastructure. The panels are the type of thermal insulation material used in refrigeration, construction, and shipping to deliver better insulation than traditional materials. The major application of vacuum-insulated panels can be found in building construction and insulated shipping containers. Vacuum-insulated panels are made up of metal and non-metal materials and are used in different products as per the application requirements.

Vacuum Insulated Panels Market Driver

Upsurge in Acceptance of Cold Chain Technologies Powering Market Growth

Cold chain technologies are growing in several sectors to maintain the temperature of goods. Food & beverage is one of the sectors driving the market growth for vacuum insulated panels. Cooling technology helps to uphold the temperature of the environment while transporting food and raw materials. Moreover, cooling technology is heavily used in the pharmaceutical sector for the preservation of medicine that requires exact temperature to last long. All such sectors are using cold chain technology that is driving the market growth for vacuum-insulated panels.

Vacuum Insulated Panels Market Restraint

Higher Cost of Product and Raw Materials to Hinder the Market Growth

The benefits of vacuum insulated panels come with the higher cost when it comes to customization according to the applications. In addition, the uncertain prices of the raw materials, such as metal and non-metal, can be challenging to the vacuum-insulated panels. Hence, the prices of the final product became aggressive and unaffordable to the end-user. Moreover, the manufacturing process is expected to be dominated by costly manual work and can hinder market growth.

Vacuum Insulated Panels Market Opportunity

Increasing Global Environmental Temperature to Boost the Application of Vacuum Insulated Panels

The growing global warming is spoiling the environmental climate that is necessary for several products. Certain foods and medicines require decent room temperature. However, rising global temperature is damaging for consumer products. Hence, the demand for HVAC products such as refrigerators is creating opportunities for vacuum-insulated panels. For instance, in March 2024, consumer durable businesses expect a 25% sales boost upcoming summer owing to the increase in global temperature.

Segmentation

By Material	By Structure	By End-User	By Geography
Metal Non-Metal	Flat Special Shape	Pharmaceutical Food & Beverages Construction Others	North America (U.S. and Canada) Europe (U.K., Germany, France, Spain, Italy, Russia, and the Rest of Europe) Asia Pacific (Japan, China, India, Australia, South Korea, and the Rest of Asia Pacific) Latin America (Brazil. Mexico, and the Rest of Latin America) Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)

Key Insights

The report covers the following key insights:

• Recent Advancements in Vacuum Insulated Panels


• Key Industry Trends


• Regulatory Landscape for Vacuum Insulated Panels


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

Analysis By Structure

Based on structure, the market is subdivided into flat and special shape panels.

The flat panels segment dominates the market driven by easy manufacturing in several regions. Flat panels do not require any special treatment compared to the special ones. Hence, production is easy and can be done as per demand.

The special shape segment is the fastest growing, driven by the rising demand for freezing devices, which come in different shapes and sizes.

Analysis By Material

Based on material, the market is divided into metal and non-metal materials.

Non-metal is the dominating segment driven by materials such as plastics. The use of plastic is growing as a major source of raw material due to the major demand for polyurethane. Polyurethane is heavily castoff in the production of domestic refrigerators and freezers. Hence, it is backing the vacuum-insulated panels market.

The metal segment also holds a considerable share in the global vacuum-insulated panels owing to materials such as aluminum.

Analysis By End-User

Based on end-user, the market is pharmaceutical, food & beverages, construction, and others.

The construction segment is expected to dominate the global market. This is owing to the rising demand for energy-efficient infrastructure. Vacuum insulation panel delivers outstanding thermal insulation, lowering the thermal conductivity. Moreover, vacuum insulation panels are widely used in the growth of the cold chain solutions.

Regional Analysis

Based on region, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific is dominating the vacuum-insulated panel market. This is owing to the expansion of the infrastructure in countries such as China and India. In addition, the construction industry is driving the Asia Pacific vacuum-insulated panel market.

North America is considered the fastest-growing region driven by technological advancements in freezing products. The U.S. is dominating North America owing to the availability of manufacturers in the country.

Europe is also contributing to the global vacuum-insulated panel market. The consideration of energy-efficient products in the region is fueling the market growth.  

Key Players Covered

The global vacuum insulated panels market is fragmented in terms of the number of providers. Various market developments and strategic initiatives are anticipated to drive market growth. For instance, in April 2024, Pluss, a leading provider of temperature-controlled packaging solutions, launched Celsure XL vacuum insulated panels pallets, a revolutionary innovation set to redefine the values of pharmaceutical shipping and storage.

• BASF SE (Germany)


• M&I Materials Limited (U.K.)


• Evonik Industries AG (Germany)


• LG Hausys (South Korea)


• Panasonic Corporation (Japan)


• Morgan Advanced Materials (U.K.)


• Va-Q-Tec AG (Germany)


• Dow (U.S.)


• OCI Company Ltd. (South Korea)


• Kevothermal (U.S.)

Key Industry Developments

• In April 2024, Haier launched a new energy-efficient refrigerator with high-efficiency inverter compressor technology and vacuum-insulated panels. It comes with a modern flat door, horizontal lower handle, and multi-zone air.


• In March 2021, Panasonic Corporation proclaimed to begin delivering rental services using VIXELL, the world's first Vacuum Insulated cooling box that holds contactless power supply expertise to enable the user to control insulation performance.