Mineral wool Market

The global mineral wool market size was valued at $9.9 billion in 2018, and is projected to reach $16.0 billion by 2026, growing at a CAGR of 6.3% from 2019 to 2026.

Mineral wool is an insulating material and highly fibrous in nature. It is produced by spinning and drawing molten mineral. Mineral wool exhibit excellent thermal and acoustic properties which helps to prevent energy transmission from our environment to inner in residential spaces.

The global mineral wool market is operating at the growth stage in its industry life cycle and it is anticipated to witness significant growth opportunities during the forecast period. This can be highly credible to the cost-effective nature of mineral wool and up-gradation of overall insulation material across the globe.

Building & construction and transportation are the key major end-use industries of mineral wool which are more susceptible to upcoming investments. This is highly attributed to the expanding nature of the global construction industry, recovery of the U.S. from residential crisis happened in 2008, and the growing trend for energy-efficient homes across the globe. Therefore, there may be a greater demand for modern age insulating material during the forecast period. On the other hand, the automotive sector in the transportation industry is showcasing the tremendous potential for insulating material in not only maintaining the performance of the vehicle but to make the driving experience pleasant. Therefore, the high adoption of luxury vehicles in countries such as Germany, Canada, France, Switzerland, UAE, Qatar, and others are fueling the consumption of mineral wool. On the contrary, lack of awareness regarding the benefits associated with the mineral wool expected to hamper the growth of this market during the forecast period.     

The global mineral wool market is segmented by type, end-users, and region. Based on type, the market is segmented into glass wool, rock wool and other. Based on end-users, the market is segmented into building & construction, industrial & appliances, transportation, and others. Based on region, the global mineral wool market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  

Key players operating in the global mineral wools market are Compagnie de Saint-Gobain S.A., IZOCAM, John Manville, Knauf Insulation, Korff Isolmatic GmbH, Owens Corning, Poly Glass Fibre Insulation, Rockwool International A/S, TechnoNICOL, and URSA Insulation S.A, and others. Major players have adopted various strategies such as acquisitions, partnerships, collaboration, joint ventures, agreements, expansions, and new product launches to create a strong consumer base in the market and the similar trends are anticipated during the forecast period.  

By type, the glass wool segment is acquired the largest mineral wool market share in 2018. It is an insulating material made from fibers of glass and organized in the form of wool. Glass wool is available in various forms such as batts & rolls, loose-fill insulation, and others. There are numerous applications of glass wool such as pipe insulation, structural insulation, soundproofing, and filtration. Due to these advantageous, glass wool is adopted in various end-use industries as a light weight insulation material. This makes glass wool segment the largest one in terms of growth.

Based on end-use industry, the building & construction industry emerged as the largest one in 2018 and it is anticipated to remain the largest one during the forecast period. Rapid industrialization and urbanization is fueling the growth of mineral wool market globally. As mineral wool is widely used for the thermal, acoustic and fire protection purposes. Rising demand from construction industry from LAMEA and Asia-Pacific region is fueling the growth of mineral wool market. Building & construction registered highest market share and growth rate in global mineral wool market and is projected to maintain it throughout the forecast period. Increasing demand for keeping heat out and maintaining low temperatures in building infrastructures is driving the growth of mineral wool market globally.

By region, Asia-Pacific is the global leader over other region in 2018. This is attributed to numerous factors such as rising demand from construction industry, noteworthy growth of automobile sector, and others. Growth of construction industry has surged the demand for mineral wool as it utilized in thermal and acoustic insulation in the residential as well as commercial buildings. For instance, in India there is increase in construction activities such as industrial parks, housing plans, and others. Emergence of concepts such as Smart City and Zero Energy Building are also driving the demand for mineral wool as an energy efficient material in this region.

Key Benefits for Stakeholders:

• The report provides an in-depth analysis of the mineral wool market forecast along with the current and future market trends
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period
• Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global mineral wool industry for strategy building
• A comprehensive mineral wool market analysis covers factors that drive and restrain market growth
• The qualitative data in this report aims on market dynamics, trends, and developments

 Mineral wool Market Report Highlights