India Insulation Market Size & Outlook, 2023-2030
India insulation market, 2018-2030 (US$M)
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India insulation market highlights
- The India insulation market generated a revenue of USD 1,929.3 million in 2023 and is expected to reach USD 3,212.4 million by 2030.
- The India market is expected to grow at a CAGR of 7.6% from 2024 to 2030.
- In terms of segment, non-residential was the largest revenue generating application in 2023.
- Non-Residential is the most lucrative application segment registering the fastest growth during the forecast period.
Insulation market data book summary
| Market revenue in 2023 | USD 1,929.3 million |
| Market revenue in 2030 | USD 3,212.4 million |
| Growth rate | 7.6% (CAGR from 2023 to 2030) |
| Largest segment | Non-residential |
| Fastest growing segment | Non-Residential |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Non-Residential |
| Key market players worldwide | Rockwool AS Class B, Par Pacific Holdings Inc, Knauf |
Other key industry trends
- In terms of revenue, India accounted for 3.0% of the global insulation market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China insulation market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 28,837.3 million by 2030.
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Insulation Market Scope
Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
India insulation market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to insulation market will help companies and investors design strategic landscapes.
Non-residential was the largest segment with a revenue share of 21.32% in 2023. Horizon Databook has segmented the India insulation market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
There has been a rising awareness in India pertaining to the usage of insulation materials in order to save energy. Many industries in the country have started using insulation materials at various places such as boilers, tanks and hot pipes to save energy.
Building insulation is still at an early stage in the country, due to lack of awareness and insights, however, companies are developing products to reduce the energy spent via air conditioning units. Such trends are expected to benefit the market growth over the forecast period.
Companies are setting up manufacturing facilities in the country to cater to the insulation products demand. Jindal Mectec set up a polyurethane foam panel manufacturing plant in Pithampur, Madhya Pradesh, in November, 2016. The insulated PUF panels will be used in refrigeration planta and industrial buildings.
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Horizon Databook provides a detailed overview of country-level data and insights on the India insulation market , including forecasts for subscribers. This country databook contains high-level insights into India insulation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India insulation market size, by application, 2018-2030 (US$M)
India Insulation Market Outlook Share, 2023 & 2030 (US$M)
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