Global mineral wool market is expected to reach USD 14.65 billion in 2022 and is growing at a CAGR of 6.80% between 2017 and 2022.
The report includes forecast and study for the mineral wool market on a global and regional level. The study comprises historic data of 2016 along with a forecast from 2017 to 2022 based on volume (Kilo Tons) and revenue (USD Billion). The study encompasses drivers and restraints for the market along with their impact on the demand over the forecast period. Moreover, the report provides a study of opportunities present in the mineral wool market on a global and regional level.
In order to provide the users with the comprehensive view of the mineral wool market, we have included a detailed competitive scenario and product portfolio of key vendors. The analysis of Porter’s five forces model for the mineral wool market has also been included along with strategic development. The study includes market attractiveness analysis, where type and product segments are benchmarked based on their market size and general attractiveness.
The study provides a decisive view on the stone wool and glass wool types of mineral wool market. Board, blanket, customized shape, and panel are end products of the mineral wool market. All the segments have been analyzed based on current and future trends and the market is estimated from 2017 to 2022. The regional segmentation comprises of the current and forecast demand for North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
The report includes detailed competitive outlook including company profiles of the key participants operating in the global mineral wool market. Key players profiled in the report include Owens Corning, Johns Manville Inc., Izocam, Knauf Insulation GmbH, Saint-Gobain, Paroc, Uralita SA, Rockwool International A/S, USG, Poly Glass Fiber Insulation, CertainTeed Corp and Guardian Fiberglass Inc. among others.
This report segments the mineral wool market as follows:
Mineral Wool Market: Type Analysis
Mineral Wool Market: End Products Analysis
Mineral Wool Market: End User Analysis
Mineral Wool Market: Regional Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Mineral Wool market. Zion Research has collected and analyzed key data belong to the global Mineral Wool market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Mineral Wool across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Mineral Wool industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Mineral Wool market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Mineral wool is a fiber material formed by spinning or drawing molten minerals. It can be produced from natural and synthetic minerals. Mineral wool acts as heat insulators in automotive industries; hence, rapidly growing automotive sector across the globe is expected to bolster the demand for mineral wool in the coming years.
Mineral wool offers thermal insulation, structural insulation as well as pipe insulation. They are also used in soundproofing, filtration, and hydroponic growth medium. Demand from various end users of mineral wool is expected to boost the market growth in the coming years. Increasing trend for energy saving insulations is likely to propel the mineral wool market in the future. Moreover, rising demand from ends-user industries such as industrial, building & construction and transportation are expected to propel the growth of the mineral wool market in the coming years. However, lack of awareness may restrain the growth of the mineral wool market. Nevertheless, growing demand from emerging economies and increasing end-user applications could provide a lump of opportunities to the mineral wool market in the forecast period.
On the basis of types, the mineral wool market can be segmented as stone wool and glass wool. Glass wool possesses low density and is often used to insulate plane surfaces such as ceiling tiles, cavity wall insulation, curtain walls as well as ducting, piping and soundproofing. Therefore, glass wool accounted for the largest market share in 2016. The mineral wool can be molded into certain types to obtain end products such as board, blanket, customized shape, and panel. The blanket is considered as the most effective end product due to the fact that compressing the material reduces its efficiency. Mineral wool is majorly used as insulators in the end user industries such as transportation, building & construction, industrial and other end users. Building & construction was the leading segment of the mineral wool market in 2016 with noteworthy market share.
Asia Pacific held the largest market share for mineral wool followed by North America in 2016. A large number of consumers from India and China along with rapidly growing automotive industry is expected to boost the growth of the mineral wool market. Rising government initiatives to accomplish the development in the industrial sector is likely to assist the growth of the mineral wool market in this region. North America is expected to experience lucrative growth in the coming years owing to the growing construction industry. Escalating investments in Europe by the leading automotive manufacturers along with growing automotive OEM market is likely to boost the mineral wool market in the coming years. Latin America is likely to witness decent growth in the forecast period owing to the growing infrastructure sector in Brazil. The Middle East and Africa is expected to exhibit moderate growth over the coming years.
The mineral wool market is fragmented into major and medium players such as Owens Corning, Johns Manville Inc., Izocam, Knauf Insulation GmbH, Saint-Gobain, Paroc, Uralita SA, Rockwool International A/S, USG, Poly Glass Fiber Insulation, CertainTeed Corp and Guardian Fiberglass Inc. among others. Growing demand for mineral wool from various sectors may provide scope for new entrants in the market.