Rising demand for energy efficient buildings has been observed since past years. To meet demand specifications of energy efficiency, material with insulating elements are witnessing higher adoption, as they play a vital role in reducing heat loss. This has spurred the acceptance of vacuum insulation panels in the construction industry as efficient solution to reduce energy loss. Vacuum insulation panels (VIP) are considered as an effective alternative to conventional material used in building construction, as VIPs have higher thermal resistance. According to research, efforts in manufacturing vacuum insulation panels with specific characteristics suitable for old and new buildings are being undertaken.
According to Transparency Market Research analysis, the global market for vacuum insulation panels is expected to rise at a steady rate in the years to follow. Growth of the global vacuum insulation panels market is triggered with growing construction industry couple with increasing adoption of vacuum insulation panels in building construction. Also, their use in refrigeration applications is expected to push the sale of vacuum insulation panels across the world. The global market for vacuum insulation panels is projected to expand at a value CAGR of 5.3% during the period of assessment, 2017-2026.
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Asia pacific excluding Japan (APEJ) region has been at the forefront with respect to use of vacuum insulation panels. Emerging countries such as China and India have shown high inclination towards use of vacuum insulation panel products across pharmaceutical industry, construction, logistics and refrigeration industry. High scope of urbanization coupled with growth of construction industry in Asia Pacific excluding Japan region is poised to influence the adoption of vacuum insulation panels, in the commercial as well as residential sectors.