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Mineral Wool Material Market Size, Share and Industry Analysis Report by Product (Rock Wool, Glass Wool), Form (Board, Blankets, Panel) and Application (Building & Construction, Industrial, Transportation), Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2021– 2027

  • Report ID: GMI1875
  • Base Year: 2020
  • Report Format: PDF

Industry Overview

Mineral Wool Material Market size was registered at about USD 16.5 billion in 2020 and is predicted to grow at a CAGR of over 5% from 2021 to 2027. Environment-friendly nature and positive outlook in acoustic insulation applications and rapidly growing urbanization along with increasing construction activities is projected to boost the product demand across the globe.
 

mineral wool material market outlook

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Mineral wool is a fibrous, versatile material produced from rock materials or minerals including slag or ceramics, that can effectively address heat and acoustic insulation requirements in many applications. The effective use of rock wool & mineral wool insulation on walls and ceilings provides enhanced and full sound insulation in a particular room. Thus, it has immense demand in construction sector. Mineral wool products have gained wide acceptance due to their favorable properties including its ability to provide both acoustic and thermal insulation in residential buildings, commercial buildings, and numerous industrial applications.
 

Government initiatives to increase foreign direct investments by supplementing the process of industrialization should propel the mineral wool material market growth. These initiatives offer considerable benefits to manufacturers in terms of investments, taxes, and exports, providing an ideal platform for players considering geographical expansion. In addition, easy availability of these products in the form of a board, blankets, and panels makes them a viable option for architects, contractors, and specifiers during design, construction, and installation processes.
 

Moreover, synthetic acoustic non-woven fabric is becoming a preferred choice of manufacturers owing to key features such as lightweight, low costs, and superior acoustic insulation. Government initiatives for the development of electric vehicles under the Faster Adoption and Manufacturing of both (Hybrid) and Electric Vehicles in India (FAME) scheme will boost the automobile production in the country, propelling the demand for mineral wool.
 

Rising industrial heating applications should accelerate market from panel form

Global mineral wool material market from panel form is expected to grow over USD 3.5 billion by 2027. Insulating materials in panel form is used for industrial heating applications such as high-temperature panel systems for boilers, precipitators and ducts, H-Bar systems, vessels, and industrial ovens. It is ideal for use in metal mesh blankets, hot precipitators, boiler walls, hot ductwork, cylindrical tanks, prefabricated panel systems, towers, and stacks.
 

Favorable policies for promoting manufacturing hubs in the U.S. China, India and UK will influence market growth for panel segment across the globe. The growth of the industrial segment has been muted due to sluggish economic activity. However, key industry players operating in the market will see an uptick in their business operations due to favorable growth prospects such as duty rationalization for raw materials, and tax incentives for R&D investments.
 

Increasing demand for eco-friendly products should boost market growth from glass wool product segment

mineral wool material market from glass wool

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Glass wool is among the most efficient insulation materials used in the building and construction insulation applications and is anticipated to show significant growth of over USD 14 billion by 2027. Insulating properties achieved through minor gas or air pockets provide a positive outlook for the product demand. In addition, improved appearance along with enhanced finishing provides an aesthetic appeal for the product.
 

Glass wool is considered the most effective and eco-friendly product due to its non-combustibility nature. In addition, glass wool meets all the requirements of optimum acoustic and thermal insulation performance required from the application industries. It is produced by the combination of up to 80% of recycled glass, fluxing substances, and natural silica sand resulting in the product possessing zero Ozone Depleting Potential (ODP) and being free from CFC’s or HFC’s.
 

The key properties including no health hazards, non-corrosive nature, high resistance to mold growth, vermin infestation, and lightweight nature will enhance the mineral wool material market share. Further, surging applications in multiple areas of buildings along with increased use in ceilings of residential buildings will boost business expansion.
 

Growing consumption of insulating material in the automotive industry should accelerate business growth from transport application

mineral wool material market from transport segment

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The global mineral wool material from transport segment was valued at USD 1.85 billion in 2020 and is projected to grow at a CAGR of 4.5% through 2027. The demand for insulating material is a direct function of vehicle movement on the roads, as well as the growth of vehicle population and automobile sales. The rising consumer income and preferences toward comfort and luxury is projected to fuel the transportation industry growth. Mineral wool is widely deployed in automobiles in the form of filler that can provide both thermal and acoustic benefits.
 

Rapid technological advancements and continuous innovations in the automotive sector owing to the rising concern for disturbance-free driving experiences will stimulate mineral wool material market growth. Airports, railways, and roads are the major transportation noise sources that commonly affect schools, houses, and hospitals. The noise produced from rail carriages and vehicular movement over tracks and roads affects nearby residents, which can be overcome using acoustic insulation products.
 

Manufacturers have been able to build automobiles with higher automotive soundproofing owing to increasing demand for noise-free vehicles, resulting in an increase in the usage of acoustic materials in vehicles. The usage of soundproofing materials and increased advances in the automobile industry will fuel segment expansion.



Booming construction industry and industrialization activities are anticipated to stimulate the North America mineral wool market

mineral wool material market by region  

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The North America mineral wool material market revenue is expected to exceed USD 9 billion by 2027. The increasing demand for customizing home décor & furniture products coupled with rising consumer spending will positively influence urea-mineral wool material (UF) and phenol mineral wool material resins (PF) demand. Increasing demand for multi-functional and versatile products that offer portability and can be easily accommodated in small spaces is uplifting market demand.
 

Proliferating investments in residential & commercial buildings supported by technological & material advancements offering durable & innovative storage solutions are encouraging the use of mineral wool material resins. Urea mineral wool material resins are also used in restoring old Victorian furniture owing to their quick adhesive and bonding nature. Manufacturers are shifting toward urea-based mineral wool material resins owing to their compatibility with different types of wood & steel and high durability in moisture environment.

 

In Canada, the use of mineral wool material resins is growing owing to rising construction and renovation activities. The use of mineral wool material-based resins in board products and wood panels enables the sustainable use of forest resources and minimizes waste. Formaldehyde-based resins are utilized in residential construction to manufacture particleboards, plywood paneling, and medium density fiberboards. Supportive government initiatives and favorable economic policies for residential and commercial projects along with the increasing demand for durable and sustainable construction materials are likely to augment the mineral wool material market share.

 

Innovative product offerings and constant research & development activities remain key business strategies incorporated by major market players

The global mineral wool material industry includes key players such as Knauf Insulation, Inc., Armacell India Private Limited, U.P.Twiga Fiberglass Limited, Gyptech Systems Pvt. Ltd. Lloyd Insulations (India) Limited, Saint Gobain India Pvt. Ltd., Rockwool India Pvt. Ltd among several others. Major market players serve their products to a wide range of application industries, which include building & construction, industrial and transportation.

 

Furthermore, manufacturers are engaged in several activities, which include product development & innovations, mergers & acquisitions to strengthen their market position. For instance, On September 2021, Knauf Insulation, Inc., has built new fiberglass production in Central Texas. Through this, the company will be able to increase production capacity and strengthen its market position.
 

The mineral wool material market report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Million Square Meters) and revenue in USD (Million) from 2021 to 2027 for the following segments:

By Product

  • Glass Wool
  • Rock Wool

By Form

  • Board
  • Blanket
  • Panel
  • Others

By Application

  • Building & Construction
  • Industrial
  • Transportation
  • Others

The above information has been provided for the following regions and countries:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
       
Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

In 2020, mineral wool material industry size reached around USD 16.5 billion and could expand at more than 5% CAGR over 2021-2027 owing to increasing construction activities and rapid urbanization.

The overall market revenue from glass wool is anticipated to cross USD 14 billion by 2027 due to its efficient insulating property and growing demand for eco-friendly products.

The market share from transport segment reached USD 1.85 billion in 2020 and could grow at 4.5% CAGR through 2027 due to increasing consumption of insulating material in the automotive sector.

Mineral wool material market size in North America could cross USD 9 billion by 2027 with the rise in industrialization activities and expanding construction sector.

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Premium Report Details

  • Published Date: Jan 2022
  • Companies covered: 17
  • Tables & Figures: 261
  • Countries covered: 5
  • Pages: 235

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