Mineral Wool Market

Global Mineral Wool Market To Witness Impressive Growth, Revenue To Surge To USD 19.5 Billion By 2028

Between 2014 and 2019, the mineral wool market is expected to grow at a CAGR of 7.0 percent, with a market value of $12.0 billion by 2019. Between 2014 and 2019, the Asia-Pacific area, with its rebounding economy, fast developing building & construction industry, and expanding number of industries base, is expected to have the highest growth in demand, followed by the Rest of the World (RoW).

The increasing demand for mineral wool based insulation materials for thermal and acoustic insulation in residential and commercial buildings, as well as demand for heat insulation for industrial applications to reduce heat loss and save energy, are the primary factors driving market growth.

Mineral Wool Market
Mineral Wool Market

The market was studied in terms of volume (KT) and value ($Million) by region, including North America, Europe, Asia-Pacific, and Rest of the World (RoW), as well as by kind, which included Glass Wool and Stone Wool. The mineral wool market is additionally broken down into end goods such as blankets, boards, panels, bespoke shapes, and others, as well as applications such as fire protection, thermal insulation, and acoustic insulation.

Various secondary sources were used to identify and collect information for this extensive commercial study of the mineral wool market, including directories, technical handbooks, company annual reports, industry association publications, chemical magazine articles, world economic outlook, trade websites, and databases. Experts from linked industries and suppliers were contacted as main sources in order to gather and verify key information, as well as to analyse future prospects and market estimates.

This analysis examines several marketing trends and determines the market’s most effective growth approach. Market variables such as drivers, restraints, opportunities, burning concerns, and winning imperatives are identified.

See also  Big-Ticket Costs To Consider When Starting A Food Brand

This report also includes profiles of major companies such as Saint-Gobain (France), Rockwool International (Denmark), Knauf Insulation (Netherlands), Industrial Insulation Group, LLC. (U.S.), CertainTeed Corp. (U.S.), Guardian Fiberglass, Inc. (U.S.), Johns Manville (U.S.), Owens Corning (U.S.), Roxul Inc. (Canada), Rock Wool Manufacturing Co. (U.S.)
based on the applications

Protection from fire

Insulation (thermal)

Others include acoustic insulation.

based on geographical location

North America is located in North America.

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Asia-Pacific

China

South Korea (South Korea)

Japan

India

The World at Large (RoW)

In terms of value, the mineral wool market is expected to grow at a CAGR of 7.0 percent over the following five years, reaching $12.0 billion in 2019. Mineral wool has acquired popularity as a result of its advantageous qualities, such as its capacity to provide thermal and acoustic insulation in both residential and commercial structures, as well as in industrial settings. As a result, these fibres successfully satisfy the needs for thermal and acoustic insulation in a variety of applications. The market and its trends in North America, Europe, Asia-Pacific, and the Rest of the World are all covered in this study (RoW).

The market for mineral wool is examined in terms of kinds, end products, and applications. Glass Wool and Stone Wool are the two most common forms of mineral wool. Blanket, Board, Panel, customised shape, and other mineral wool end products are available. Fire protection, thermal, acoustics, and other end-use applications are all included. Mineral wool is mostly consumed by the building and construction industry, a trend that is expected to continue in the future.

See also  PLASMA PROTEIN THERAPEUTICS MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECAST (2022 - 2027)

With expanding economies like China and India, as well as growing building and industrial operations, Asia-Pacific is the largest market for mineral wool. Global players have a significant chance to build up manufacturing facilities in the Asia-Pacific area, particularly in developing countries like China and India, due to lower production costs.
Asia-Pacific will continue to lead the market through 2019, with developed economies like North America and Europe trailing behind. Saint-Gobain (France), Rockwool International (Denmark), Knauf Insulation (Netherlands), Industrial Insulation Group, LLC. (US), CertainTeed Corp. (US), Guardian Fiberglass, Inc. (US), Johns Manville (US), Owens Corning (US), Roxul Inc. (Canada), Rock Wool Manufacturing Co. (US), Thermafiber, Inc. (US) and USG Interiors, Inc. (US) are among the global and regional players (U.S.).

Industrial heating applications are expected to drive the industry away from panel form.

By 2027, the global mineral wool material market in panel form is estimated to reach USD 3.5 billion. For industrial heating applications, such as high-temperature panel systems for boilers, precipitators, and ducts, H-Bar systems, containers, and industrial ovens, insulating materials in panel form are employed. Metal mesh blankets, hot precipitators, boiler walls, hot ducting, cylindrical tanks, prefabricated panel systems, towers, and stacks are all good candidates for it.

Favorable policies for supporting manufacturing hubs in the United States, China, India, and the United Kingdom will affect global market growth for the panel segment. Due to poor economic activity, the industrial segment’s expansion has been subdued. However, due to favourable growth possibilities such as duty rationalisation for raw materials and tax incentives for R&D investments, prominent industry players participating in the market will witness an increase in their commercial operations.

See also  Global Lithium-Ion Battery Market Set for Rapid Growth, to Reach around USD 67.70 Billion by 2022