India Thermal Insulation Market Key Players and Forecast by 2028

Historic Data: 2018-2019 | Base Year: 2020 | Forecast Period: 2021-2028

India Thermal Insulation Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Material Type (Fiber Glass, Plastic Foam, Stone Wool, Calcium Silicate, Cellular Glass, and Others) and Industry Vertical (Oil and Gas, Chemical, Aerospace and Defense, Automotive, Pharmaceutical, and Others)

Report Date : Apr 2021
Report Code : TIPRE00020900

Category : Manufacturing and Construction
Status : Published

Available Report Formats :
No. of Pages : 123

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The India thermal insulation market is expected to reach INR 3,674.98 crore by 2028 from INR 2,189.81 crore in 2020. The market is estimated to grow at a CAGR of 7.4% from 2021 to 2028.

The constant rise in the infrastructural development in India is expected to boost the residential sector and industrial activities, which, in turn would increase the adoption of insulation material during the forecast period. The Indian government is focused on introducing various infrastructure projects, such as the urban transformation schemes, smart city initiative, business parks, and new industrial estates, which are projected to boost the adoption of thermal insulation material from 2021 to 2028. According to the India Brand Equity Foundation (IBEF), India is expected to become the third largest construction sector in the world in the coming years. Several initiatives, such as” Smart City Mission” and “Housing for all” initiative, across the country are boosting the adoption of thermal insulation. The growing infrastructural investment with the increasing FDI in the country is one of the significant factors driving the growth of the thermal insulation market. Such initiative along with rising infrastructural spending in India is creating lucrative opportunities for the Indian market players to develop advanced material for thermal insulation. Several market players operating in the region are focusing on the development of a variety of thermal insulation. For instance, in 2020, Fontaine introduced Fontaine Magnitude 60LCC, a lowbed trailer intended for customers working in regions where spread-axle configurations are not required to maximize their trailer loads. Similarly, in 2019, Saint-Gobain inaugurated its new blowing glass wool production line at its Isover plant in Chemillé, near Angers, France. The new facilities will meet the French market's growing demand for thermal insulation solutions for roof cavities. Thus, such developments are accelerating the growth of the India thermal insulation market

India is adopting several advanced technologies for developing thermal insulation material. Companies present in the country are continuously focusing on enhancing the overall business processes to meet customer requirements by offering high-quality products and services in the best possible way. Saint-Gobain has inaugurated its new blowing glass wool production line at its Isover plant in Chemillé, near Angers, France. The new facilities will meet the market's growing demand for thermal insulation solutions for roof cavities. Thus, the demand for thermal insulation is growing in India. On other hand, amid the COVID-19 outbreak, new construction activities in the country are restricted due to lockdown. Therefore, there is a decline in the use of insulation material. Insulation in old buildings, as per new local government rules and regulations, is also on hold owing to the lack of material and labor. According to Credit Rating Information Services of India Limited (CRISIL), the growth of Indian construction industry is declined by 12–16% in the current fiscal year because of the COVID-19 outbreak. According to the same agency, major players in the construction sector are expected to witness a 13 to 17% drop in revenue in fiscal year 2021 as there is decline in the construction activities. Also, the government's budgetary support for the next fiscal year is changed, putting the revised estimate for this fiscal year in jeopardy. Thermal insulation is also used in the consumer goods and transportation industries. The demand for foam insulation from OEMs has been decreased because of the poor sales in the automotive industry during the pandemic. Thus, the COVID-19 pandemic restrained the growth of the thermal insulation market in India.

India Thermal Insulation Market Revenue and Forecast to 2028 (INR Crore)

This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

India Thermal Insulation Market Segmentation

India Thermal Insulation Market – by Material Type

Fiber Glass
Plastic Foam
Stone Wool
Calcium Silicate
Cellular Glass
Others

India Thermal Insulation Market – by Industry Vertical

Oil and Gas
Chemical
Aerospace and Defense
Automotive
Pharmaceutical
Others

India thermal insulation Market - Companies Mentioned

Armacell India Pvt. Ltd.
BASF SE
Imerys
Lloyd Insulations (India) Limited
Minwool Rock Fibres Limited
Neo Thermal Insulation (India) Pvt. Ltd.
Owens Corning
Saint-Gobain
Supreme Petrochem Ltd
Thermocareindia
ROCKWOOL INDIA PVT. LTD.

India Thermal Insulation Report Scope

Report Attribute	Details
Market size in 2020	INR 2,189.81 crore
Market Size by 2028	INR 3,674.98 crore
Global CAGR (2021 - 2028)	7.4%
Historical Data	2018-2019
Forecast period	2021-2028
Segments Covered	By Material Type Fiber Glass Plastic Foam Stone Wool Calcium Silicate Cellular Glass By Industry Vertical Oil and Gas Chemical Aerospace and Defense Automotive Pharmaceutical
Regions and Countries Covered	India India
Market leaders and key company profiles	Armacell India Pvt. Ltd. BASF SE Imerys Lloyd Insulations (India) Limited Minwool Rock Fibres Limited Neo Thermal Insulation (India) Pvt. Ltd. Owens Corning Saint-Gobain Supreme Petrochem Ltd

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Nivedita Upadhyay

Manager,
Market Research & Consulting

Nivedita is an accomplished research professional with over 9 years of experience in Market Research and Business Consulting. Currently serving as a Project Manager in the ICT domain at The Insight Partners, she brings deep expertise in managing and executing Syndicated, Custom, Subscription-based, and Consulting research assignments across diverse technology sectors.

With a proven track record of delivering data-driven analysis and actionable insights, Nivedita has been a key contributor to several critical projects. Her work involves end-to-end project execution—right from understanding client objectives, analyzing market trends, to deriving strategic recommendations. She has collaborated extensively with leading ICT companies, helping them identify market opportunities and navigate industry shifts.

Nivedita holds an MBA in Management from IMS, Dehradun. Prior to joining The Insight Partners, she gained valuable experience at MarketsandMarkets and Future Market Insights in Pune, where she held various research roles and built a strong foundation in industry analysis and client engagement.

What are the India Thermal Insulation Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

India Thermal Insulation Market Report Snapshots

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