Global Mineral Wool Material Market Size By Product (Rock Wool, Glass Wool), By Form (Board, Blankets, Panel), By Application (Building & Construction, Industrial, Transportation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026

Published Date: Jan 2020  |  Report ID: GMI1875  |  Authors: Kunal Ahuja, Amit Rawat

Report Format: PDF   |   Pages: 230   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Mineral Wool Material Market size exceeded USD 14.5 billion, globally in 2018 and is estimated to grow over 5% CAGR between 2019 and 2026. Increasing government regulations pertaining to building safety and energy management coupled with continuous growth in the building & construction industry are likely to fuel the overall development.
 

Mineral Wool Material Market Overview

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Mineral wool material is a versatile fibrous material made from drawing rock materials or molten minerals such as ceramics or slag. This material exhibits properties such as noise reduction, fire resilience, mold resistance and thermal protection. It contributes largely to energy-saving and combats climate change by preventing the movement of air for long term stability. Also, growing concerns pertaining to energy conservation in buildings coupled with rising electricity costs have necessitated the mineral wool material market demand in residential, commercial and industrial buildings.
 

Insulating air-conditioned office, oil refineries, power plants, PEB structures, and commercial environments are increasingly valued in North America and Europe market. The global demand for energy is increasing rapidly owing to economic and population growth. This has urged the mineral wool material market players to develop insulation products containing mineral wool material. The demand for thermal insulation required for maintaining low temperatures has been perhaps the single most important driving force behind the continuous innovation of mineral wool material products in overall insulation materials business.
 

Considering the growth in population, urbanization, and environmental changes have enabled the governments in both developed and developing nations towards inaction of several climate policy promises. Customers are focusing on reducing the energy consumption bills with retrofitting the product in walls, ceilings and attics. Shifting the mineral wool material market trends towards upgradation of existing insulation system sufficing the building standards will create lucrative opportunities for the industry participants.
 

Mineral wool material can also be prepared from recycled materials hence are an economical and environmentally friendly product. Trend towards the use of recyclable materials offering reduced material cost and superior profitability has enhanced their application scope in overall insulation materials business. This has urged the major market players to provide recycling services for sustainable developments. For instance, in April 2018, ISOVER France announced to launch, closed-loop recycling service for the demolition of glass wool waste and reuse in new product construction.
 

Enhanced performance efficiency of stone wool insulation will fuel mineral wool material market growth

Rock wool material by Product

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In terms of product segment, mineral wool material market is classified into rock wool and glass wool. Rock wool acquired more than 31.5% of the global market in 2018.  Rock wool or stone wool is produced from natural volcanic rock such as basalt, diabase and dolomite. It has similar appearance and texture compared to glass fiber but has a higher R-value and thickness. It provides better thermal and acoustic insulation than traditional fiberglass and has a maximum operating temperature of 850-degree Celsius.
 

Major applications of rock wool are in sound insulation, thermal insulation, fire safety, and acoustic comfort. These factors make it an ideal insulating material for foundries, power plants, refineries, chemical and petrochemicals industries, where extreme temperature swings are frequent. Technical collaboration between market participants such as Rockwool International, Saint Gobain, and Isover for development of innovative mineral wool material will enhance the industry size.
 

Global Mineral Wool Material Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 14.5 billion (USD)
Historical Data for: 2015 to 2018 Forecast Period: 2019 to 2026
Pages: 230 Tables, Charts & Figures: 264
Geographies covered (22): U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Russia, China, India, Japan, South Korea, Malaysia, Indonesia, Thailand, Brazil, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Product, Form & Application
Companies covered (17): Knauf Insulation, Inc., Armacell India Private Limited, U.P.Twiga Fiberglass Limited, Saint Gobain India Pvt. Ltd., Lloyd Insulations (India) Limited, Rockwool India Pvt. Ltd., Gyptech Systems Pvt. Ltd., Polybond Insulation Private Limited, Goenka Rockwool (India) Pvt. Ltd., Minwool Rock Fibres Limited, Punjstar Industries Pvt. Ltd, Shreeram Equitech Pvt. Limited, Dhanbad Rockwool Insulation Private Limited, Jamshedpur Mineral Wool Mfg. Co. Pvt. Ltd., Metecno India Private Limited, Maghard Insulators, Owens Corning India Ltd.
Growth Drivers:
  • Strong growth in the Pre-Engineered Buildings (PEB) industry
  • Booming transportation sector
  • Environment-friendly nature and positive outlook in acoustic insulation applications
Pitfalls & Challenges:
  • Limited awareness regarding green building norms
  • Ease in availability of alternatives

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Increasing application scope of mineral wool blankets from industrial applications will fuel mineral wool material market growth

Mineral wool material market by form

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The mineral wool material market is segmented base on form such as board, blankets, and panel. Blanket segment acquired more than 41.5% of the global market in 2018. Mineral wool blankets, rolls, batts and mattress offer excellent flexibility, resiliency to vibrations and economies of scale. They are widely utilized to insulate plant equipment’s such as boiler linings, tanks, ovens, vessels, furnaces, precipitators, ducts, and other mechanical equipment’s. Key features including lightweight, high strength, heat shielding, easy installation and excellent resiliency to noise, heat and fire will enhance their utilization which will further boost their market size.
 

Continuous padding provided by the material promotes uniform temperature, reduced moisture collection & convection and high heat transfer rates in walls. Growing health related concerns with mineral wool material containing phenol-urea-formaldehyde binder can cause respiratory irritation, thus urging mineral wool material market players to develop products that are free from formaldehyde. For instance, in April 2017, Owens Corning announced to launch Thermafiber SAFB, formaldehyde-free mineral wool blanket to serve the growing need for formaldehyde free products.
 

Rising demand for thermal and acoustic insulation will propel the mineral wool material demand from building & construction sector

Global mineral wool material market by building and construction application

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As per industry analysis, 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 of nuclear families along with the rise in the consumer spending on sustainable construction. The demand for mineral wool material is gaining prominence in green building construction to minimize carbon footprint, enhance work productivity in the offices, and enhancement of thermal comfort.
 

Easy availability of these materials in board, blanket, and panel forms make them a viable option for architects, contractors, and specifiers during design, construction and installation process. The implementation of numerous building construction programs including Energy Star building certification, ICC’s Model, and LEED Energy Codes is likely to propel the market dynamics. Affordable housing schemes along with the expansion of zero-energy homes supported by regional authorities will provide lucrative opportunities for market players.
 

Asia Pacific countries will spur mineral wool material demand with rising demand from building & construction segment

China mineral wool material market by application

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Asia Pacific mineral wool material market share may witness significant growth owing to growing urbanization, high industrialization rates and surge in construction spending. Emerging countries such as China, India, Malaysia, and Thailand will witness significant demand owing to rapid expansion of construction sector and incorporation of stringent building construction regulations. The region has witnessed increasing government investments in several industrial & commercial projects requiring significant fire and sound insulation.
 

Government initiatives to increase foreign direct investments have supplemented the process of industrialization in the region. These initiatives offer considerable benefits to the market players in terms of investment, tax and exports providing an ideal platform for players considering geographical expansion. Moreover, the significant and steady evolution of the transportation sector owing to rising consumer preferences for sound-proof vehicles and the comfortable driving experience will augment the mineral wool material demand. Also, availability of cheap labor and ease of raw materials is likely to propel mineral wool material usage in the application industries in region.
 

Mergers & acquisitions and R&D initiatives will remain key growth strategies

Some of the major companies operating in the mineral wool material market are Rockwool International, Saint- Gobain, Owens Corning, Knauf Insulation, CertainTeed Corp., Saint- Gobain, Industrial Insulation Group, Johns Manville, Guardian Fiberglass, Owens Corning and USG Interiors.
 

Key market participants operating in the mineral wool material industry are adopting strategies such as strategic partnerships, mergers & acquisitions, collaborations, and R&D investments to enhance their market presence and share. For instance, in April 2018, Owens Corning acquired Guangde SKD Rock Wool Manufacture Co., Ltd., a mineral wool manufacturer in China. The acquisition will help the company to serve new customers by expansion of its mineral wool material portfolio and reach in the Chinese market.
 

The mineral wool material market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in million square meters and revenue in USD million from 2015 to 2026, for the following segments:

By Product

  • Rock Wool
  • Glass Wool

By Form

  • Board
  • Blankets
  • Panel
  • Others

By Application

  • Building & Construction
  • Industrial
  • Transportation
  • Others

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

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Russia
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Indonesia
    • Thailand
  • LAMEA
    • Brazil
    • Argentina
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

According to the report published by Global Market Insights, Inc., the mineral wool material market is expected to hit 22.5 Billion USD by 2026.
Changing fashion trends and dominating fast fashion industry, increasing domestic household income and demand for garments, increasing presence of major garment manufacturers and designers, lower manufacturing costs & huge potential leather industry along with improving economic conditions and political stability are the major factors expected to drive the market.
Based on end-use application, building & construction segment held the largest share in 2018 and is anticipated to exhibit remarkable growth rate from 2019 to 2026.
Rockwool International, Saint- Gobain, Owens Corning, Knauf Insulation, CertainTeed Corp., Saint- Gobain, Industrial Insulation Group, Johns Manville, Guardian Fiberglass, Owens Corning and USG Interiors are the top contributors in the industry.

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Premium Report Details

  • Published Date: Jan 2020
  • Pages: 230
  • Tables: 249
  • Charts / Figures: 15
  • Companies covered: 17
  • Countries covered: 22

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