Kingspan, world’s largest player in high performance insulation and building envelope solutions, announces its entry into Indian market through a Joint Venture with Jindal Mectec Pvt. Ltd., the Indian market leader in the category. With the Indian and the global market leader in the segment joining forces, Kingspan Jindal will become India’s leading manufacturer of such products featuring industry-leading innovations.
Currently the insulated panel industry is growing at a CAGR of 13-15 percent and Jindal Mectec alone has a market share of 35 percent. The new entity Kingspan Jindal targets to raise their market share up to 50 percent in next 5 years period. The Joint Venture (“Kingspan Jindal”) will capture the massive growth of modern methods of construction in India.
This growth is supported by the strong domestic and foreign direct investment momentum in infrastructure; high-end production facilities in the FMCG, food and pharma sectors; distribution centers and warehousing; and in cold chain facilities and other segments.
Gilbert McCarthy, MD Kingspan Insulated Panels, said: “Investing in India is a key element of Kingspan’s geographic growth strategy. The JV will also cover Bangladesh, Sri Lanka and Nepal and Bhutan.” Read More