New York, United States, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Global Mineral Wool Material Market Size to grow from USD 14.27 billion in 2021 to USD 20.31 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period. Global Mineral Wool Material Market demand is expected to increase due to factors such as environmental tolerance, potential prospects for acoustic insulation applications, quickly expanding urbanisation, and rising construction activity.
The mineral wool market comprises companies (organisations, sole traders, and partnerships) that sell mineral wool, which is used as an insulator to endure intense heat. A controlled mixture of raw materials, including stone or silica, is used to create this fibrous material, which is then melted at a specific temperature to create a flexible fibrous mat. Mineral wool is an inorganic, non-metallic product that may be shaped into various shapes and covered with various sheet materials. Rolls of mineral wool, which are used for loft insulation of pre-formed and faced pipe sections, acoustic panels, and ceiling tiles, contain loose granular material used for blown insulation of wall slabs, cavity walls, and slabs for walls.
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The Glass Wool segment to account for the largest market size during the forecast period
Based on the Product, the global Mineral Wool Material Market is categorized into Glass Wool and Rock Wool. The Glass Wool segment to account for the largest market size during the forecast period. The Glass Wool market is anticipated to rise significantly throughout the forecasted period because glass wool is non-combustible, it is regarded as the most efficient and environmentally friendly product. Additionally, glass wool satisfies all specifications for ideal thermal and acoustic insulation performance demanded by the application sectors. It is created by mixing up to 80% recycled glass, fluxing agents, and silica sand from nature, which results in a product with no ozone depleting potential (ODP) and no CFCs or HFCs. Additionally, due to the significant contribution of Glass Wool investment from large nations like China, India, and Brazil, the Glass Wool market generates significant amounts of income, and the Glass Wool market is anticipated to rise significantly throughout the forecasted period.
The Transportation segment to hold a higher CAGR during the forecast period
Based on the Application, the Mineral Wool Material Market is categorized into Industrial, Transportation, Building & Blanket and Others. The Transportation segment to hold a higher CAGR during the forecast period. Due to the growing demand for Transportation, the number of vehicles on the road, the increase in the vehicle population, and the number of new cars sold all directly affect the demand for the Transportation segment in the market. It is anticipated that increased consumer money and desires for comfort and luxury will drive the expansion of the transportation segment.
”Global Mineral Wool Material Market Size, Share, and COVID-19 Impact Analysis By Product (Glass Wool and Rock Wool), By Application (Building & Blanket, Industrial, Transportation and Others), By Form (Board, Blanket, Panel and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.“ in detail along with the table of contents. https://www.sphericalinsights.com/reports/mineral-wool-material-market
The Panel segment to hold a higher CAGR during the forecast period
Based on the Form, the Mineral Wool Material Market is categorized into Board, Blanket, Panel and Others. The Panel segment to hold a higher CAGR during the forecast period. The widespread demand of the Panel segment is primarily responsible for the market growth. Industrial heating applications such high-temperature panel systems for boilers, precipitators and ducts, H-Bar systems, containers, and industrial ovens use insulating materials in panel form. Panel segment is perfect for usage in hot ducting, metal mesh blankets, boiler walls, cylinder tanks, prefabricated panel systems, towers, and stacks and is anticipated to rise significantly throughout the forecasted period.
Report Scope
| Report Metric | Details |
| Market Size 2030 | USD 20.31 Billion |
| CAGR | 4.0% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Segments Covered | By Product, By Application, By Form, By Region, COVID-19 Impact Analysis |
| Report Coverage | Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World |
| Key Companies Profiled/Vendors | Byucksan, Great Lakes Textiles, ISOVER (Saint Gobain), Johns Manville, Knauf Insulation, National Industrial Co., NTN OOD, |
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Key Insights
- The global Mineral Wool Material Market was valued at USD 14.27 Billion in 2021.
- The Market is growing at a CAGR of 4.0% from 2021 to 2030
- The global Mineral Wool Material Market is expected to reach USD 20.31 Billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period.
Market Segment
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Mineral Wool Material Market based on the below-mentioned segments:
Global Mineral Wool Material Market, By Product
- Glass Wool
- Rock Wool
Global Mineral Wool Material Market, By Application
- Building & Blanket
- Industrial
- Transportation
- Others
Global Mineral Wool Material Market, By Form
- Board
- Blanket
- Panel
- Others
North America is estimated to account for the highest market share in 2021.
The Global Mineral Wool Material Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. The market's rising acceptance drive the demand for Mineral Wool Materials s. Mineral wool resins are used more frequently in residential and commercial construction due to technological advances and materials that provide long-lasting and creative storage solutions.
Regions Covered
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
List of Key Market Players:
- Byucksan
- Great Lakes Textiles
- ISOVER (Saint Gobain)
- Johns Manville
- Knauf Insulation
- National Industrial Co.
- NTN OOD
- Owens Corning
- PGF Insulation
- Rockwool International AS
- Kingspan Group
- Rosewool Insulation Refractory Co. Ltd
Key Target Audience
- Market Players
- Investors
- Applications
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
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Table of Content
- Introduction
- Objectives of the Study
- Market Definition
- Research Scope
- Research Methodology and Assumptions
- Executive Summary
- Premium Insights
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Top Investment Pockets
- Market Attractiveness Analysis By Product
- Market Attractiveness Analysis By Application
- Market Attractiveness Analysis By Form
- Market Attractiveness Analysis By Region
- Industry Trends
- Market Dynamics
- Market Evaluation
- Drivers
- Increasing application
- Restraints
- Lack of awareness
- Opportunities
- Increase use of mineral wool
- Challenge
- Rising need for comfort
- Global Mineral Wool Material Market Analysis and Projection, By Product
- Segment Overview
- Glass Wool
- Rock Wool
- Global Mineral Wool Material Market Analysis and Projection, By Application
- Segment Overview
- Building & Blanket
- Industrial
- Transportation
- Others
- Global Mineral Wool Material Market Analysis and Projection, By Form
- Segment Overview
- Board
- Blanket
- Panel
- Others
- Global Mineral Wool Material Market Analysis and Projection, By Regional Analysis
- Segment Overview
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South America
- Brazil
- Middle East and Africa
- UAE
- South Africa
- Global Mineral Wool Material Market-Competitive Landscape
- Overview
- Market Share of Key Players in the Mineral Wool Material Market
- Global Company Market Share
- North America Company Market Share
- Europe Company Market Share
- APAC Company Market Share
- Competitive Situations and Trends
- Coverage Launches and Developments
- Partnerships, Collaborations, and Agreements
- Mergers & Acquisitions
- Expansions
- Company Profiles
- Byucksan
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Coverage Portfolio
- Recent Developments
- SWOT Analysis
- Byucksan
- Great Lakes Textiles
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Coverage Portfolio
- Recent Developments
- SWOT Analysis
- ISOVER (Saint Gobain)
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Coverage Portfolio
- Recent Developments
- SWOT Analysis
- Johns Manville
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Coverage Portfolio
- Recent Developments
- SWOT Analysis
- Knauf Insulation
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Market News
- In September 2021, In Central Texas, Knauf Insulation, Inc., erected a new fibreglass manufacturing facility. The business will be able to do this to expand production capacity and strengthen its position in the market.
- In May 2021, Thermaxx Jackets, Rocky Mountain Construction Wholesale, GLT, NewStar, and Bigham Insulation Supply were all owned by SPI. SPI develops investments in digital platforms and infrastructure to provide services to customers when, how, and where they want them.
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Global Mineral Wool Material Market Size, Share, and COVID-19 Impact Analysis By Product (Glass Wool and Rock Wool), By Application (Building & Blanket, Industrial, Transportation and Others), By Form (Board, Blanket, Panel and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030
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FAQs are covered of Mineral Wool Material Market
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