India Building Thermal Insulation Market Size & Outlook
India building thermal insulation market, 2018-2030 (US$M)
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India building thermal insulation market highlights
- The India building thermal insulation market generated a revenue of USD 706.1 million in 2022 and is expected to reach USD 1,319.4 million by 2030.
- The India market is expected to grow at a CAGR of 8.1% from 2023 to 2030.
- In terms of segment, eps was the largest revenue generating product in 2022.
- EPS is the most lucrative product segment registering the fastest growth during the forecast period.
Building thermal insulation market data book summary
| Market revenue in 2022 | USD 706.1 million |
| Market revenue in 2030 | USD 1,319.4 million |
| Growth rate | 8.1% (CAGR from 2022 to 2030) |
| Largest segment | Eps |
| Fastest growing segment | EPS |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Glass Wool, Mineral Wool, EPS, XPS, Cellulose, PIR, PUR |
| Key market players worldwide | Rockwool AS Class B, GAF, Guardian Capital Group Ltd, Huntsman Corp, Johns Manville, Atlas Roofing, CertainTeed Corporation, Dow Building Solutions, Owens-Corning Inc, Compagnie de Saint-Gobain SA, Kingspan Group PLC, Cellofoam, Rockwool, Byucksan, BASF |
Other key industry trends
- In terms of revenue, India accounted for 2.9% of the global building thermal insulation market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China building thermal insulation market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,319.4 million by 2030.
Eps was the largest segment with a revenue share of 30.49% in 2022. Horizon Databook has segmented the India building thermal insulation market based on glass wool, mineral wool, eps, xps, cellulose, pir, pur covering the revenue growth of each sub-segment from 2018 to 2030.
Improved GDP, significant population growth, and expanding industrial sector are the critical factors driving the growth of construction sector in India. Increasing foreign direct investments in the country and a rise in the number of foreign companies entering the Indian market are expected to further boost the growth of this sector.
Government initiatives to develop smart cities are anticipated to aid this growth, thereby propelling the demand for building thermal insulation over the forecast period. Residential construction is projected to witness the highest growth owing to rising population, increasing urbanization, and ascending investments in the sector by Non-Resident Indians (NRIs).
Ascending residential construction activities may bolster the demand for building thermal insulation over the forecast period. However, low product penetration in the construction sector in India may restrain the market growth.
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Building Thermal Insulation Market Scope
Building Thermal Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
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India building thermal insulation market size, by product, 2018-2030 (US$M)
India Building Thermal Insulation Market Outlook Share, 2022 & 2030 (US$M)
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