In 2021, the high-performance insulation materials market had a total size of $5,833.1 million, and it is predicted to hit $11,096.8 million by 2030, progressing at a rate of 7.4% from 2022 to 2030, according to P&S Intelligence.

This growth can be ascribed to the rising utilization of such materials in the oil & gas sector and mounting concerns about carbon emissions and energy saving. Basically, the universal insulation market is mainly driven by the growing need for commercial and residential insulation. The lightweight and ultra-thin properties of such materials enable them to be used for insulating tanks, vessels, sulfur recovery, pipe supports, industrial piping, and furnaces.

According to a data analysis, approximately 40% of the power is utilized in buildings yearly. As per a recent report, worldwide electricity generation surged by 6.2% in 2021 over last year, to fulfil the snowballing requirement since the reopening of numerous economic happenings after the lockdown. The usage of high-performance insulation materials, including vacuum insulation panels, aerogel, ceramic fibers, and fiberglass can decrease energy consumption significantly, mainly because they have a lesser density and lesser thermal conductivity.

In 2021, the vacuum insulation panels category leads the high-performance insulation materials with 32% of revenue share, credited to their variety of applications in, refrigeration units, buildings, and insulated shipping containers.

 Moreover, vacuum insulation panels are highly demanded in the industrial sector, for usage in cooling devices, vacuum flasks, cold-storage containers, automobiles, water boilers, and cold-storage containers. Such panels advance the energy effectiveness of industrial and commercial buildings and also help in the reduction of the thickness of building components. This offers more internal space and maximum usage of land. 

The APAC region is projected to show a CAGR of 7.2% in the coming years. The fast-paced development of the telecommunications, automotive, and construction industries, because of rapid industrialization, is strengthening the market growth. The less startup expenses for production services, low labor expenses, and less insulating material expenses are also some factors, which are contributing to the market growth.