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The global vacuum insulation panel market was valued at US$ 8.21 Billion in 2021.
We expect the global vacuum insulation panel market to exhibit a CAGR of 5.10% during 2022-2027.
The widespread utilization of vacuum insulation panels in detached houses, apartment buildings, nurseries, office buildings, etc., is primarily driving the global vacuum insulation panel market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end use industries, thereby negatively impacting the demand for vacuum insulation panel.
Based on the type, the global vacuum insulation panel market can be categorized into flat panel and special shape panel, where flat panel exhibits the clear dominance in the market.
Based on the core material, the global vacuum insulation panel market has been segmented into silica, fiberglass, and others. Currently, silica represents the largest market share.
Based on the application, the global vacuum insulation panel market can be bifurcated into construction, cooling and freezing devices, logistics, and others. Among these, the construction sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.
Some of the major players in the global vacuum insulation panel market include Avery Dennison Corporation, BASF SE, Etex Building Performance NV (Etex Group), Evonik Industries AG (RAG-Stiftung), Kevothermal Ltd, Kingspan Group plc, Knauf Insulation, Morgan Advanced Materials, OCI Company Ltd., Panasonic Corporation, TURNA d.o.o., and Va-Q-Tec AG.
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