Press Release

With a CAGR of Around 4.2%, India Building Insulation Materials Market to Reach USD 38.4 Billion Mark by 2030

The India Building Insulation Materials Market size is valued at around USD 29.6 billion in 2024 and is projected to reach about USD 38.4 billion by 2030. The market is anticipated to surge at a CAGR of around 4.2% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. This growth is owed to several factors. Primarily by the infrastructural development in the country and emphasis on energy conservation and sustainability, the India Building Insulation Materials Market is also affected by rising living standards, population growth, urbanization, government initiatives, and awareness among others. These factors promote the adoption of insulation and are interlined.

India's infrastructure is growing quickly. The government has launched several large-scale projects for both residential and non-residential uses, including business parks, special economic zones, urban transformation programs, smart city initiatives, and housing for all. These projects and schemes, when implemented following the law, will increase the use of insulation for building structures and fixtures. Additionally, fast industrial expansion brought about by rising FDI has increased the need for additional buildings for offices, factories, and other uses. This helped the building industry. The use of insulating materials will increase and the insulation market participants will have attractive growth prospects as a result of the government's focus on energy-efficient and sustainable building to lower the nation's carbon footprint and achieve its green objective.

Furthermore, as a result of government initiatives to support green culture, growing public awareness of environmentally friendly products, etc., the use of alternatives to conventional building insulation materials has been increasing rapidly recently. Since the development of materials like cotton, hemp, straw, sheep's wool, and so on, the usage of conventional synthetic materials has been progressively declining. Due in large part to consumer awareness of the environmental effect of the materials they use in their buildings, these materials are growing in popularity in both the residential and commercial sectors. Consequently, there will be less of a market for synthetic insulating materials, further states the research report, “India Building Insulation Materials Market Analysis, 2024.”

Segmentation Analysis

Residential Segment Holds the Largest Market Share

Based on the end-user, the market is further bifurcated into, residential and non-residential, among the two the residential segment holds higher demand in the India Insulation Material Market paving the path for India's Insulation Materials Market growth & expansion. Residential requirements have been rising owing to the rapid growth of the population in the country and increasing urbanization. As more people come to live in the urban region, and rural region merge with the urban region due to the expansion of cities, demand for modern housing and other commercial spaces to accommodate and facilitate the population increases. Demand for modern housing is also increasing due to the rising standard of living among the Indian people. As the economy is developing the per capita income is rising, giving access to more disposable income. This boosts the construction activities in the country, which directly influences the India Building Insulation Materials Market.

Moreover, with the government and the people of the nation focusing on reducing their carbon footprint and achieving net-zero emissions, demand for green buildings that are power-efficient and comfortable is rising.  Additionally, strict regulations regarding the use of insulation material while constructing a being enforced by the government. All these factors combined to fuel the size & volume of this segment in the India Building Insulation Materials Market.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Lloyd Insulations India Limited, Neo Thermal Insulation, Rockwool India, National Industrial Co, Knauf Insulation, Saint-Gobain India, Huntsman Advanced Materials (India) Pvt. Ltd., BASF India, Natraj Insulation, Duratuf Products Pvt. Ltd., and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?