23-Apr-2020 | Facts and Factors
Findings from Facts and Factors report “Mineral Wool Material Market By Product (Rock Wool and Glass Wool), By Form (Board, Blankets, Panel, and Others), By Application (Building & Construction, Industrial, Transportation, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Mineral Wool Material market in 2019 was approximately USD 15.3 Billion. The market is expected to grow at a CAGR of 5.3% and is anticipated to reach around USD 22 Billion by 2026.
Mineral wool material is a multipurpose fibrous material with noise reduction, mold resistance, thermal protection, and fire resilience properties. It is obtained from drawing rock materials or molten minerals including slag or ceramics. The mineral wool material helps save energy and withstand climate change by controlling air flow.
Browse the full “Mineral Wool Material Market By Product (Rock Wool and Glass Wool), By Form (Board, Blankets, Panel, and Others), By Application (Building & Construction, Industrial, Transportation, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/global-mineral-wool-material-market-by-product-rock-1023
Market Drivers:
The increasing demand for better building safety and energy management coupled with the increasing government regulations and rapid growth in the building & construction industry are estimated to drive the overall Mineral Wool Material market.Furthermore, the growing requirement for insulated air-conditioned office, PEB structures, power plants, oil refineries, and commercial environments are boosting the market growth.The growing population and economic development is surging the manufacturing of insulating products containing mineral wool material.Additionally, the environmental concerns and inclination toward climate policies is estimated to bolster the developed of mineral wool materials in the developed or developing regions. The shifting toward mineral wool material from existing insulation system to suffice the building standards will offer new avenues for the industry. One of the key factors boosting the demand for these materials is it can be recycled and itswider application. However, the health concerns related to the use of mineral wool material such as respiratory irritation will hinder the global Mineral Wool Material market and increase the development of products free from formaldehyde.
Market Segment Dominance:
The increasing use of rock wool for sound insulation, thermal insulation, fire safety, and acoustic comfort is anticipated to bolster the growth of the Mineral Wool Material market. Furthermore, its similarity to glass fiber, high R-value, and thickness offers better thermal and acoustic insulation are the properties projected to help escalate its sales across the globe, thereby dominating the market.
Blanket category is anticipated to dominate the market owing to the increasing demand a flexible, light weight, stronger, vibration resilient, and heat shielding sources among the customers. The blankets are extensively used to shield plant equipment’s such as tanks, boiler linings, vessels, ovens,furnaces, ducts, precipitators, and other mechanical equipment’s, thereby increasing the blankets demand across the globe. The demand for continuous padding for moisture retention, temperature maintenance, and heat transfer helps popularize the blanket which, in turn, will fuel the Mineral Wool Material market.
The building & construction application may exhibit highest market share value owing to the urbanization, consumer expenditure on sustainable constructions, lowering carbon footprint, thermal comfort, and productivity enhancement at work is expected to help the Mineral Wool Material gain prominence during the forecast period. Furthermore, the high demand for sophisticated and effective insulating materials by the contractors, architects, and specifiers at the time of designing, construction and installation process coupled with the stringent construction programs is likely to propel the global Mineral Wool Material market dynamics.
Regional Dominance:
Asia Pacific Mineral Wool Material market is expected to show substantial growth owing to the rapid urbanization and surging industrialization across the globe. Additionally, the development in the building & construction sectoris likely to escalate the demand for mineral wool material during the forecast period. Furthermore, the increasing expenditure and stringent regulations in the construction sector increases the demand for these materials. The high government investments in the industrial and commercial field where the requirement of insulating materials is growing is projected to propel the global Mineral Wool Materials market. The increasing foreign direct investments, evolving transportation sector, and availability of cheap labor & raw materials are likely to fuelusage of mineral wool material in various industries in region.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 15.3 Billion |
Projected Market Size in 2026 |
USD 22 Billion |
Growth Rate |
CAGR 5.3% |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Gyptech Systems Pvt. Ltd., Armacell India Private Limited, Knauf Insulation, Inc., Lloyd Insulations (India) Limited, Punjstar Industries Pvt. Ltd, Rockwool India Pvt. Ltd., Goenka Rockwool (India) Pvt. Ltd., Polybond Insulation Private Limited,Maghard Insulators, Saint Gobain India Pvt. Ltd., Minwool Rock Fibres Limited, U.P. Twiga Fiberglass Limited, Dhanbad Rockwool Insulation Private Limited, Owens Corning India Ltd., Shreeram Equitech Pvt. Limited, Jamshedpur Mineral Wool Mfg. Co. Pvt. Ltd., and Metecno India Private Limited. |
Key Segment |
By Product, By Form, By Application, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Key Market Players:
Some of the key player in the global Mineral Wool Material market include Gyptech Systems Pvt. Ltd., Armacell India Private Limited, Knauf Insulation, Inc., Lloyd Insulations (India) Limited, Punjstar Industries Pvt. Ltd, Rockwool India Pvt. Ltd., Goenka Rockwool (India) Pvt. Ltd., Polybond Insulation Private Limited,Maghard Insulators, Saint Gobain India Pvt. Ltd., Minwool Rock Fibres Limited, U.P. Twiga Fiberglass Limited, Dhanbad Rockwool Insulation Private Limited, Owens Corning India Ltd., Shreeram Equitech Pvt. Limited, Jamshedpur Mineral Wool Mfg. Co. Pvt. Ltd., and Metecno India Private Limited.
This report segments the global Mineral Wool Material market as follows:
Global Mineral Wool Material Market: Product Segmentation Analysis
Global Mineral Wool Material Market:FormSegmentation Analysis
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Board
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Blankets
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Panel
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Others
Global Mineral Wool Material Market:ApplicationSegmentation Analysis
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Building & Construction
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Industrial
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Transportation
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Others
Global Mineral Wool Material Market: Regional Segmentation Analysis
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North America
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Europe
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Germany
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The UK
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France
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Spain
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Italy
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Rest of Europe
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Asia Pacific
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China
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Japan
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India
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South Korea
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Southeast Asia
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Rest of Asia Pacific
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Latin America
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Brazil
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Mexico
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Rest of Latin America
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Middle East & Africa
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