Mineral Wool Market Forecasts to 2028 – Global Analysis by Type (Stone Wool/Rock Wool, Glass Wool, and Slag Wool), Product Type, End User and By Geography
According to Stratistics MRC, the Global Mineral Wool Market is accounted for $10,864.09 million in 2020 and is expected to reach $20,559.89 million by 2028 growing at a CAGR of 8.3% during the forecast period. Growing modernization of mineral wool products, rising usage of acoustical insulation, and increasing fitness concerns among the population are the major factors propelling the market growth. However, the availability of cheap insulating materials and lack of knowledge among people are hampering the market growth.
Mineral wool, a versatile material made from rock and slag is the commonly used insulation material. The mineral wool insulation consists of two product categories i.e. glass wool and slag wool. Glass wool is made from recycled glass and sand whereas stone wool or slag wool is made from volcanic rock. The mineral wool can also be made from recycled material and thus is an economical and environment-friendly material.
Based on the end user, the industrial segment holds the largest share in the market during the forecast period due to the increasing demand for keeping heat out and maintaining low temperatures in building infrastructures.
By geography, the Asia Pacific holds the largest share in the market. The growth of this region can be attributed to favorable government regulations and low labor costs in India which have been motivating major players to spend in India and huge progress in the automotive industry in China and India which are positively affecting the development of the mineral wool market.
Some of the key players profiled in the Mineral Wool Market include BYUCKSAN, CertainTeed, Fabricating Services, Inc, Guardian Industries, Izocam, Johns Manville Inc., Knauf Insulation GmbH, Korff Isolmatic GmbH, Owens Corning, Rockwool International A/S, Saint-Gobain, TechnoNICOL, Uralita SA, URSA Insulation S.A, and USG Corporation.
Estimated Market Size in 2020:
USD 10,864.09 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 20,559.89 million
Tables, Graphs & Figures
Type, Product Type, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Stone Wool/Rock Wool
• Glass Wool
• Slag Wool
Product Types Covered:
• Loose Wool
• Panel (Acoustic)
• Customized Shape
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Mineral Wool Market is majorly driven by the growing modernization of mineral wool products, rising usage of acoustical insulation, and increasing fitness concerns among the population.
The glass wool segment is growing at the highest CAGR due to its cost-effectiveness, good sound barrier, flexibility in use, and easy installation.
The Asia Pacific dominated with a significant market share due to the growth of the automotive industry and favourable government policies.
The North American market is growing at the highest CAGR due to the adoption of regulations imposed by the government along with the growth of the automotive industry.
Key players in Mineral Wool Market include BYUCKSAN, CertainTeed, Fabricating Services, Inc, Guardian Industries, Izocam, Johns Manville Inc., Knauf Insulation GmbH, Korff Isolmatic GmbH, Owens Corning, Rockwool International A/S, Saint-Gobain, TechnoNICOL, Uralita SA, URSA Insulation S.A, and USG Corporation.
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