The Indian insulation services market has been on a strong growth path owing to rising energy costs, a governmental push for energy efficiency and growing construction and manufacturing sectors. As sustainability and energy conservation become more important, both residential and commercial sectors are realizing the importance of using effective insulation solutions to lessen energy consumption and lower carbon footprints. There is a demand of a variety of insulation materials for various sectors with different thermal and acoustic requirements. Insulation is mandatory for achieving compliance with the Energy Conservation Building Code (ECBC) introduced by the Bureau of Energy Efficiency (BEE), and for this reason, the construction industry has become a strong contributor. The code requires builders to use efficient insulation materials, especially in urban areas where energy demand is skyrocketing, in line with the energy saving measures.
The insulation services market is also contributed by the industrial sector. Insulation solutions are being implemented by key industries such as oil and gas, cement and chemical manufacturing to improve energy use and meet environmental requirements. Government schemes such as ‘Make in India’ have also boosted the growth of manufacturing facilities resulting in the rise of demand for industrial insulation to control process temperatures, save on energy costs and improve workplace safety. Although the market has challenges such as the high initial costs, limited consumer awareness in rural areas and dependence on imported materials for special application, the market growth is expected to be boosted by growing urbanization and industrialization and technology in insulation materials.
In this special issue, we introduce you to the top companies in this segment. Industry Outlook has identified the select few companies that have done particularly well with a high level of dedication. We have found that they have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.
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