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VIPs in Refrigeration Industry Drive Growth in the Global Market to $$2.1 Billion in 2029
Research and Markets
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Global VIPs market 20223

Global VIPs market 20223
Global VIPs market 20223

Dublin, Nov. 13, 2023 (GLOBE NEWSWIRE) -- The "Vacuum Insulation Panels (VIPs) - A Global Market Overview, 2023" report has been added to ResearchAndMarkets.com's offering.

According to recent research findings and coverage, the refrigerators and freezers industry is the largest consumer of VIPs globally, estimated at 43.7 million square meters and valued at US$992 million in 2023. Projections indicate a robust compound annual growth rate (CAGR) of 17.2% during the 2023-2029 period, reaching 113 million square meters valued at US$2.1 billion by 2029.

Vacuum Insulation Panels (VIPs) are witnessing a substantial surge in demand driven by key market trends. These trends include the stringent energy efficiency standards for appliances and buildings, as well as the growing demand for complex and temperature-sensitive biotech medications. Furthermore, evolving regulations for energy efficiency in buildings, refrigerators, hot water storage systems, and automobiles are significantly impacting the development of the VIP market.

Refrigeration manufacturers are increasingly turning to VIPs to achieve optimal energy efficiency in their products. The cold chain logistics sector for pharmaceutical products is also experiencing heightened regulatory scrutiny, leading to a greater need for reliable and high-performance thermal packaging, which in turn is boosting the VIP market.

The global market for VIPs is analyzed in-depth in this report, covering various product types and applications across major geographic regions and key countries. The report includes market share analysis, current market size estimations, revenue projections, growth trends, regulatory updates, and emerging applications of VIPs. It also focuses on key business trends, including product innovations, capacity expansions, mergers and acquisitions, and joint ventures.

Product Outline:

The market for VIPs includes various product types and sub-types, categorized by core material and envelope material. Core materials comprise Fumed Silica VIPs, Fiberglass VIPs, and other core material-based VIPs, such as Aerogel and PU foam. Envelope materials include Aluminum Foils-based VIPs and Metalized Laminates-based VIPs.

Global market applications for VIPs encompass refrigerators and freezers, cold chain logistics, building and construction, as well as other applications like marine, automotive, aerospace, hot water storage, industrial and technical insulation, and more.

Analysis Period, Units, and Growth Rates:

The report reviews, analyzes, and projects the global VIP market from 2019 to 2029, considering market value in US$ and compound annual growth rates (CAGRs) projected from 2022 through 2029.

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