Mineral Wool Market Size, Share, Growth Report 2032

Mineral Wool Market Size

The global mineral wool market accounted for USD 13.1 Billion in 2020 and is expected to reach USD 19.5 Billion by 2028, growing at a CAGR of 5% from 2021 to 2028.  

Mineral wool material may be a versatile fibrous material made up of drawing rock materials or molten minerals like ceramics or slag. This material exhibits properties like noise reduction, fire resilience, mold resistance, and thermal protection. It contributes largely to energy-saving and combats global climate change by preventing the movement of air for future stability. Also, growing concerns concerning energy conservation in buildings including rising electricity costs have necessitated the rock wool material market demand in residential, commercial, and industrial buildings.

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COVID-19 Impact Analysis:

COVID-19 has shattered many established politics, and astonishing value chains prompted governments into action and upended many consumer behaviors. Within the first months of the crisis, businesses and governments logically focused on protecting people and identifying the steps to get over deep health, economic and social shock. Through all this and in an attempt to take care of the supply of products across the economy, the bulk chemical and residential & commercial industries dedicated much attention to understanding the pandemic’s impact on stocks and shifting demand and flows (e.g. changing supply routes to ensure supply of commodity or intermediates).

Mineral Wool Market: Growth Factors

Seeing the expansion in population, urbanization, and environmental changes have enabled the governments in both developed and developing nations to inaction on several climate policy promises. Customers are specialized in reducing energy consumption bills by retrofitting the merchandise in walls, ceilings, and attics. Shifting the rock wool material market trends towards up-gradation of existing insulation systems sufficing the building standards will create lucrative opportunities for the industry participants.

Report Scope:

Segment Analysis Preview

The study provides a decisive view on the stone wool and glass wool types of the mineral wool market. Board, blanket, customized shape, and panel are end products of the mineral wool market. Major applications of rock wool are thermal insulation, sound insulation, fire safety, and acoustic comfort. These factors make it an ideal insulating material for foundries, power plants, refineries, and chemical and petrochemical industries, where extreme temperature swings are frequent.

In terms of usage, in 2018 Asia Pacific ruled the rock wool market and is probably going to sustain its dominance in the rock wool market within the years to return. 

Rock wool is used as filler within the automotive industry, hence huge development within the automotive industry in China and India is predicted to drive the event of the rock wool market in this area. Additionally to the present, there has been an unprecedented development within the infrastructure industry in nations of Asia Pacific that has led to the heavy requirement for rock wool. This factor is probably going to assist the event of the rock wool market in the near future. Favorable government regulations and low labor costs in India are motivating major players to spend in India. This might positively affect the event of the rock wool market within the years to return.

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Based on application, the mineral wool material’s application segment is categorized into building & construction, industrial, and transportation. The building & construction application may witness significant gains owing to rapid urbanization, increasing preference for nuclear families along with the rise in consumer spending on sustainable construction.

Regional Analysis Preview

Europe is probably going to ascertain positive development within the coming years within the rock wool market. Increasing demand in Germany for rock wool due to the tremendous development within the automotive industry is probably going to pace the event of the rock wool market in the forecast period. Europe has been re-attaining its economic power after the 2012 depression that resulted in huge usage of rock wool for superior insulation in various industries.

The building & housing industry contributes almost 9% of the ECU Union to the GDP; hence infrastructure sector is believed to possess an important role in Europe’s economy and the development of the rock wool market. This aspect is anticipated likely to bolster the event of the rock wool market over the forecast period in Europe.

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Key Market Players & Competitive Landscape

Some of the key players profiled in the report include 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.

The global mineral wool market is segmented as follows:   

By Type

• Glass Wool
• Stone Wool

By End Products

• Board
• Blanket
• Customized shape
• Panel

By End User

• Transportation
• Building & construction
• Industrial
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa