Mineral Wool Market Towering To Reach USD 14.65 Billion In 2022

18-Sep-2018 | Zion Market Research

Some of the major companies in the mineral wool market are Johns Manville Inc., Owens Corning, Saint-Gobain, Izocam, Knauf Insulation GmbH, Uralita SA, Paroc, USG, Rockwool International A/S, CertainTeed Corp, Poly Glass Fiber Insulation, and Guardian Fiberglass Inc. among others. These players are claimed to set the mineral wool market to new heights in the years to come.

As per analysts at Zion Market research, the global mineral wool market was capitalized at more than USD 9.85 Billion in 2016. The global mineral wool market is likely to cross more than USD 14.65 Billion in 2022 and is likely to develop at a CAGR of slightly more than 6.80% from 2017 to 2022.

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This review is based on a report by Zion Market Research, titled “Mineral Wool Market (Stone Wool and Glass Wool) by End Product (Board, Blanket, Customized Shape, and Panel) for Transportation, Building & Construction, Industrial and Other End Users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”- Report at http://www.zionmarketresearch.com/report/mineral-wool-market

China And India Expected To Drive The Development Of The Mineral Wool Market In Asia Pacific

As per analysts at Zion Market Research, various mergers and acquisitions as well as high investment by market players are claimed to bolster the mineral wool market in the years to come. For example, in July 2018, Knauf Insulation declared the plans for new €120 Million Glass Mineral Wool insulation facility in Malaysia.

Global-Mineral-Wool-Market

In terms of usage, in 2016 Asia Pacific ruled the mineral wool market and is likely to sustain its dominance in mineral wool market in the years to come. Mineral wool is employed as filler in the automotive industry, hence huge development in the automotive industry in China and India is expected to drive the development of the mineral wool market in this area. In addition to this, there has been an extraordinary development in the infrastructure industry in nations of Asia Pacific that has led to heavy requirement for mineral wool. This factor is likely to help the development of the mineral wool market in the near future. Favorable government regulations and low labor cost in India have been motivating major players to spend in India. This might positively affect the development of the mineral wool market in the years to come.

Increasing Demand In Germany For Mineral Wool To Tower Mineral Wool Market In Europe

Europe is likely to see positive development in the coming years in the mineral wool market. Increasing demand in Germany for mineral wool owing to the tremendous development in the automotive industry is likely to pace the development of the mineral wool market in forecast period. Europe has been re-attaining its economic power after the 2012 economic crisis that resulted in huge usage of mineral wool for superior insulation in various industries. The building & construction industry contributes almost 9% of the European Union to the GDP; hence infrastructure sector is believed to have an essential role in the Europe’s economy and in the development of mineral wool market. This aspect is anticipated likely to bolster the development of mineral wool market over the forecast period in Europe.

The global mineral wool market is segmented as follows:

By Type

  • Glass Wool
  • Stone Wool

By End Product

  • Board
  • Blanket
  • Customized shape
  • Panel

By End User

  • Transportation
  • Building & construction
  • Industrial
  • Others

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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