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$17+ Billion Worldwide Mineral Wool Industry to 2031 - Strong Growth in the Pre-Engineered Buildings Industry is Expected to Propel the Market
Global Mineral Wool Market
Dublin, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The "Mineral Wool Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global mineral wool market.
This report focuses on mineral wool market which is experiencing strong growth. The report gives a guide to the mineral wool market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global mineral wool market is expected to grow from $12.27 billion in 2021 to $13.05 billion in 2022 at a compound annual growth rate (CAGR) of 6.33%. The mineral wool market is expected to grow to $17.06 billion in 2026 at a compound annual growth rate (CAGR) of 6.93%.
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Major players in the mineral wool market are Compagnie de Saint-Gobain SA, John Manville, Knauf Insulation, Owens Corning, Rockwool International, Armacell India Private Limited, UP Twiga Fiberglass Limited, Gyptech Systems Pvt Ltd, Rockwool India Pvt Ltd, Izocam, Poly Glass Fiber Insulation, TechnoNICOL, URSA Insulation SA, Rosewool Insulation Refractory Co Ltd, Byucksan, Great Lakes Textiles, NTN OOD and PGF Insulation.
The mineral wool market consists of sales of mineral wool by entities (organizations, sole traders, and partnerships) that are used as an insulator to withstand extreme heat. It is a fibrous material manufactured using a controlled mix of raw materials such as stone or silica that is melted under a certain heat temperature and converted into a flexible fibrous mat.
Mineral wool is a non-metallic and inorganic product that is formed in different shapes and faced with different kinds of sheet materials. Mineral wool contains loose granular material that are used for blown insulation of slabs for walls, cavity walls, and rolls that are used for loft insulation to pre-formed and faced pipe sections, acoustic panels, and ceiling tiles.
The main types of mineral wool are glass wool, rock wool and others. The glass wool refer to an insulation material manufactured from fibers of glass arranged using a binder into a texture similar to wool. These are eco-friendly and most effective, fulfilling the requirements of optimum necessary applications in the industries. The comes in three forms mainly board, blanket and panel and are used by industries such as building and construction, industrial, transportation and other end use.
Asia Pacific was the largest region in the mineral wool market in 2021. The regions covered in the mineral wool market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The strong growth in the pre-engineered buildings industry is expected to propel the growth of the mineral wool market. Pre-engineered buildings and prefabricated buildings are the building components that are manufactured in the factories and assembled on the construction sites.
These types of buildings are mainly used as warehouses and industrial sheds. Mineral wool insulations are used in pre-engineered buildings that provide high resistance to fire and sounds. During the construction of the buildings, mineral wools are used in walls, ceilings, and insulated floors. There will be a significant demand created for mineral wools in response to the growth of the pre-engineered buildings industry.
For instance, in China, during the 13th Five-Year Plan period (2016 to 2020), the average annual growth rate of new prefabricated building areas reached more than 50%. In 2020, 630 million square meters of prefabricated building area were expected to start, accounting for 20.5% of China's total new construction area in the same year. Therefore, the growing pre-engineered buildings/pre-fabricated buildings industry will drive the mineral wool market.
Glass wool insulation recycling is the key trend that is gaining popularity in the glass wool mineral market. Glass wool recycling refers to the use of the leftover/waste glass/wool to manufacture the final glass wool product. Key players are increasingly focusing on recycling glass materials to manufacture new glass wool, enabling them to reduce material costs, and energy cost, and decrease the environmental impact. Recycled materials also improve the quality of the final products.
This process attracts customers and improves product sales for manufacturers. For instance, Isover, a German glass wool manufacturing company, and a subsidiary of Saint-Gobain offers glass wool consisting of up to 80% of recycled glass that reduces the need for new raw materials and landfilling while increasing the quality of the final product. The company is also reducing the amount of energy required to fuse the glass.
In February 2022, Saint-Gobain, a France-based material manufacturing company acquired Rockwool India Private Ltd from Alghanim Group, for an undisclosed amount. This acquisition is expected to expand the capabilities of Saint-Gobain and provide global growth. Rockwool India Private Ltd is an Indian producer of stone wool insulation products for thermal, acoustic, and fire safety applications.
The countries covered in the mineral wool market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Report Attribute | Details |
No. of Pages | 175 |
Forecast Period | 2022 - 2026 |
Estimated Market Value (USD) in 2022 | $13.05 billion |
Forecasted Market Value (USD) by 2026 | $17.06 billion |
Compound Annual Growth Rate | 6.9% |
Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Mineral Wool Market Characteristics
3. Mineral Wool Market Trends And Strategies
4. Impact Of COVID-19 On Mineral Wool
5. Mineral Wool Market Size And Growth
5.1. Global Mineral Wool Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Mineral Wool Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Mineral Wool Market Segmentation
6.1. Global Mineral Wool Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Glass Wool
Rock Wool
Others
6.2. Global Mineral Wool Market, Segmentation By Form, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Board
Blanket
Panel
6.3. Global Mineral Wool Market, Segmentation By End Use Industry, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Building And Construction
Industrial
Transportation
Other End Use
7. Mineral Wool Market Regional And Country Analysis
7.1. Global Mineral Wool Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Mineral Wool Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/m6k7o7
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