Global Mineral Wool Market Share Revenue to Surge to $ 9,614.5 Million by 2026

Mineral Wool Market size was over $9,614.5 Mn in 2018 and is expected to grow at a CAGR of 6.6% in the forecast period.

Mineral wool is made up from the mixture of stone and slag. While manufacturing these, the mixtures are heated in an incinerator until it is molten. After melting of these mixtures, they are spun to form a thin layer of fiber. These fibers are then piled upon one another to an extent that a binder can be formed. The binder can further be rolled or flatten into a film depending on the need. Mineral wool is safe to use, provides fire resistance and uses ecofriendly method of manufacturing.

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Mineral wool is frequently used as an insulation material because of its suitable material properties. It is easy to handle, and mineral wool products are cheap in the construction industry. It is benefitting the construction industry due its properties of safety, being noise proof, exhibiting high performance, and many more.

The two types of mineral wool products are:

o Glass Wool Insulation
Glass wool is made from recycled glass or sand, soda ash and limestone, and the same ingredients similar to glass objects such as glass bottles or window panes.

o Rock Wool Insulation
The rock wool is made from basalt, volcanic rock, and an increased proportion of material that is recycled in the form of briquettes. Inorganic slag or rock are the main components of rock wool that contains 98%. While the remaining 2% organic content is usually a thermosetting resin binder and a little amount of oil.

Acoustic Strengths of Mineral Wool Insulation
Noise pollution or unwanted sound inhibits privacy, and increases agitation that can be bad for health. The range of noise can vary from being a distracting irritation to resulting into loss of hearing, which is actual physical damage. Be it home or workplace, there are millions of people in the world who suffer from the effects of exposure to noise above 65 decibels. Also, the treatment cost for health problems directly related to noise turns into many millions of dollars annually.

Due to the structure of mineral wool insulation, it provides a highly effective barrier to noise. The global mineral wool market has developed a wide range of mineral wool products that helps in better management of sound, including wall linings, acoustic ceiling tiles, roof/floor sound installation, partition cavity filings, and absorption solutions. These products are used in all kinds of settings from homes, public buildings, offices, and also in industrial facilities, laboratories, and hospitals.
Potential Future of Mineral Wool Market

Global market for mineral wool is anticipated to witness a significant growth from 2019 to 2026. Abundant availability of resources, efficiency in material transportation, low carbon footprint, ease for installation, reduction in air pollution, combats noise pollution, safety, energy efficient insulation, recyclable properties, and durability are the factors that are driving the growth of global mineral wool market.

Mineral wool is easy to install but it harms the health conditions of the worker. The precautions to be taken while mineral wool installation and the availability of alternative cheap insulating materials are some of the challenges that will further hamper the growth of mineral wool market globally. The governments in both developed and developing countries is taking initiatives towards inaction of several climate policy promises owing to the growth in population, environmental changes, and urbanization. Customers are focusing on reducing the bill amounts for energy consumption with retrofitting the mineral wool product on ceilings, attics, and walls. The industry participants will have enormous opportunities in the mineral wool market as the trend is shifting towards upgradation of existing insulation system.

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Rising demand for mineral wool in the buildings & construction industry for residential and commercial infrastructures is giving significant boost to the growth of global mineral wool market in the upcoming years. As per the statistics provided by a Research Dive report, the global market for mineral wool is anticipated to grow at rise at a 6.6% CAGR, and will surpass $16,031.8 million by the end of 2026.

Key Companies Profiled:
o Owens Corning, India Ltd.
o Maghard Insulators
o ROCKWOOL International A/S
o Saint-Gobain
o Knauf Insulation
o Thermafiber, Inc.
o USG Interiors Inc.
o Johns Manville
o Roxul Inc.
o CertainTeed Corp

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This release was published on openPR.