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Global Mineral Wool Material Market Insight2022-05-23 Comments
According to the WK-chem Research “Global Mineral Wool Material Professional Survey Report 2022, Forecast to 2027”, The global mineral wool market is operating at the growth stage in its industry life cycle and it is anticipated to witness significant growth opportunities during the forecast period. This can be highly credible to the cost-effective nature of mineral wool and up-gradation of overall insulation material across the globe. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 6.1% base on WK-chem Research regression analysis model.
“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.” said Judy Green, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.
Mineral wool is mainly used as an insulator and is considered one of the best insulators compared to other insulators. Due to the availability of raw materials, ease of installation, durability and recyclability, most construction companies use mineral wool as an insulator for the construction of homes or offices. It has the feasibility of fire protection, noise reduction and thermal protection. It also helps prevent air movement due to climate change, thereby maintaining moderate temperatures in the area. With the rise of the construction industry, the demand for mineral wool is expected to increase in the coming years.
Lack of skilled labor to apply mineral wool to the surface is considered a major factor restraining the mineral wool material market. One may find it easy to install mineral wool to a surface, but it is the most dangerous thing that can adversely affect one’s health. When mineral wool is applied, tiny particles can stick to a worker’s skin and cause serious skin conditions. Additionally, if inhaled, it can adversely affect the lungs, which can pose a serious threat to handlers. For these reasons, workers are not interested in handling mineral wool. This is the biggest restriction on the rock wool market.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Mineral Wool Material companies that include Compagnie de Saint-Gobain S.A., IZOCAM, John Manville, Knauf Insulation, Korff Isolmatic GmbH, Owens Corning, Poly Glass Fibre Insulation, Rockwool International A/S, TechnoNICOL, and URSA Insulation S.A, and Others.
Segmentation of Mineral Wool Material Market:
Based on type, the market is segmented into glass wool, rock wool, and others. By type, the glass wool segment is acquired the largest mineral wool market share. It is an insulating material made from fibers of glass and organized in the form of wool. Glass wool is available in various forms such as batts & rolls, loose-fill insulation, and others. There are numerous applications of glass wool such as pipe insulation, structural insulation, soundproofing, and filtration. Due to these advantages, glass wool is adopted in various end-use industries as a lightweight insulation material. This makes the glass wool segment the largest one in terms of growth.
Based on end-users, the market is segmented into building & construction, industrial & appliances, transportation, and others. Based on end-use industry, the building & construction industry emerged as the largest one and it is anticipated to remain the largest one during the forecast period. Rapid industrialization and urbanization are fueling the growth of mineral wool market globally. As mineral wool is widely used for the thermal, acoustic and fire protection purposes. Rising demand from construction industry from LAMEA and Asia-Pacific region is fueling the growth of mineral wool market. Building & construction registered highest market share and growth rate in global mineral wool market and is projected to maintain it throughout the forecast period. Increasing demand for keeping heat out and maintaining low temperatures in building infrastructures is driving the growth of mineral wool market globally.
Mineral Wool Material Market: Regional Analysis
In terms of geography, the global Mineral Wool Material market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. By region, Asia-Pacific is the global leader over other regions. This is attributed to numerous factors such as rising demand from construction industry, noteworthy growth of automobile sector, and others. Growth of construction industry has surged the demand for mineral wool as it utilized in thermal and acoustic insulation in the residential as well as commercial buildings. For instance, in India there is increase in construction activities such as industrial parks, housing plans, and others. Emergence of concepts such as Smart City and Zero Energy Building are also driving the demand for mineral wool as an energy efficient material in this region.
Largest share area：Asia Pacific
Largest share country：China
Product Type：Glass Wool, Rock Wool, and Others
Application：Building & Construction, Industrial & Appliances, Transportation, and Others
Leading Company：Compagnie de Saint-Gobain S.A., Owens Corning, Rockwool International A/S, IZOCAM, Poly Glass Fibre Insulation