India Industrial Insulation Market Size & Outlook, 2023-2030
India Industrial Insulation Market, 2018-2030 (US$M)
Global Market
Related Markets
India industrial insulation market highlights
- The India industrial insulation market generated a revenue of USD 266.2 million in 2023 and is expected to reach USD 465.8 million by 2030.
- The India market is expected to grow at a CAGR of 8.3% from 2024 to 2030.
- In terms of segment, stone wool was the largest revenue generating product in 2023.
- Stone wool is the most lucrative product segment registering the fastest growth during the forecast period.
Industrial insulation market data book summary
| Market revenue in 2023 | USD 266.2 million |
| Market revenue in 2030 | USD 465.8 million |
| Growth rate | 8.3% (CAGR from 2023 to 2030) |
| Largest segment | Stone wool |
| Fastest growing segment | Stone wool |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Stone wool, Glass wool, CMS Fibers, Calcium silicate, Cellular Glass, Foamed Plastic, Elastomeric Foam, Perlite, Aerogel, Cellulose, Micro Silica |
| Key market players worldwide | Rockwool AS Class B, Owens-Corning Inc, Knauf, Northern Venture Capital Trust, APi Group Corp, Aspen Aerogels Inc, Cabot Corp, Morgan Advanced Materials PLC, Unifrax, Ibiden Co Ltd, Armacell |
Other key industry trends
- In terms of revenue, India accounted for 3.1% of the global industrial insulation market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China industrial 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 465.8 million by 2030.
Growth of the industrial manufacturing in the economy is expected to result in the rise in the demand for industrial insulation over the forecast period. The market in India has a notable petrochemical industry which is fueled by high volume of oil production.
The presence of oil giants such as Reliance Petrochemical, Indian Oil, etc. contributes to the growth of the oil production in the economy. In addition, the presence of a notable offshore oil drilling in the country results in a high consumption volume of insulation materials.
The industrial insulation market in India is expected to be driven by the growth in the demand of such products in the reinstallation of LNG and LPG transportation insulations. High consumption of LPG in the economy coupled with notable reserves of the same drives the demand for insulation materials with the trend expected to remain the same over the forecast period.
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Publish Date: Sep 11, 2024
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Industrial Insulation Market Scope
Industrial Insulation Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| APi Group Corp | View profile | 29,000 | c/o APi Group, Inc, 1100 Old Highway 8 NW, New Brighton, MN, United States, 55112 | www.apigroupinc.com |
| Cabot Corp | View profile | 4,300 | Two Seaport Lane, Suite 1400, Boston, MA, United States, 02210 | www.cabotcorp.com |
| Owens-Corning Inc | View profile | 18,000 | One Owens Corning Parkway, Toledo, OH, United States, 43659 | www.owenscorning.com |
| Rockwool AS Class B | View profile | 12,017 | Hovedgaden 584, Hedehusene, Denmark, 2640 | www.rockwool.com |
| Aspen Aerogels Inc | View profile | 548 | 30 Forbes Road, Building B, Northborough, MA, United States, 01532 | www.aerogel.com |
| Knauf | View profile | 51-100 | Utrecht, Utrecht, The Netherlands, Europe | knauf.be/nl |
| Morgan Advanced Materials PLC | View profile | 8,783 | Sheet Street, York House, Windsor, United Kingdom, SL4 1DD | www.morganadvancedmaterials.com |
| Ibiden Co Ltd | View profile | 15,212 | 2-1 Kanda-cho, Ogaki, Gifu, Japan, 503-8604 | www.ibiden.com |
| Northern Venture Capital Trust | View profile | - | Henley In Arden, Warwickshire, United Kingdom, Europe | - |
| Armacell | View profile | 1001-5000 | Luxembourg, Luxembourg, Luxembourg, Europe | www.armacell.com |
India Industrial 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 Industrial Insulation Market Outlook will help companies and investors design strategic landscapes.
Stone Wool was the largest segment with a revenue share of 22.35% in 2023.
Horizon Databook has segmented the India industrial insulation market based on stone wool, glass wool, cms fibers, calcium silicate, cellular glass, foamed plastic, elastomeric foam, perlite, aerogel, cellulose, micro silica covering the revenue growth of each sub-segment from 2018 to 2030.
Growth of the industrial manufacturing in the economy is expected to result in the rise in the demand for industrial insulation over the forecast period. The market in India has a notable petrochemical industry which is fueled by high volume of oil production.
The presence of oil giants such as Reliance Petrochemical, Indian Oil, etc. contributes to the growth of the oil production in the economy. In addition, the presence of a notable offshore oil drilling in the country results in a high consumption volume of insulation materials.
The industrial insulation market in India is expected to be driven by the growth in the demand of such products in the reinstallation of LNG and LPG transportation insulations. High consumption of LPG in the economy coupled with notable reserves of the same drives the demand for insulation materials with the trend expected to remain the same over the forecast period.
- India Industrial Insulation Market Product Outlook (Revenue, USD Million , 2018-2030)
- Stone wool
- Glass wool
- CMS Fibers
- Calcium silicate
- Cellular Glass
- Foamed Plastic
- Elastomeric Foam
- Perlite
- Aerogel
- Cellulose
- Micro Silica
- Others
- India Industrial Insulation Market Application Outlook (Revenue, USD Million , 2018-2030)
- Pipe
- Board
- Blanket
- Others
- India Industrial Insulation Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Power Generation
- Petrochemical & Refineries
- EIP Industries
- LNG/LPG
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the India Industrial Insulation Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Industrial Insulation Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
India Industrial Insulation Market, 2018-2030 (US$M)
India industrial insulation market statistics, by product, 2018-2030 (US$M)
