The COVID-19 Fallout: What to Expect from Mineral Wool Industry in 2020?

Post COVID-19 Impact on Mineral Wool Market -

With the emergence of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues.

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Our study helps to acquire the following:
o Long-term and short-term impact of Covid-19 on the market
o Cascading impact of Covid-19 on Mineral Wool Market, due to the impact on its extended ecosystem
o Understanding the market behavior Pre- and Post-COVID-19 pandemic
o Strategy suggestions to overcome the negative impact or turn the positive impact into an opportunity
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Pre COVID-19 Analysis of Mineral Wool Market -

Mineral wool is an in-organic, non-metallic product manufactured from a carefully measured mix of raw materials. These raw materials mainly comprise of silica or stone, which are heated to a high temperature until they are melted. The molten stone or glass is then rolled and formed into a fibrous, flexible mat for further processing into the needed finished products.

The excellent acoustic, fire, and thermal properties of mineral wool originate from the mat of fibers. This mat of fiber forms the inert chemical composition of mineral wool by preventing the movement of air. Mineral wool is thus a very versatile material that can be manufactured to numerous different densities such as in different shapes, varied properties, and a variety of sheet materials.

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.

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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.

Industrial Applications of Mineral Wool

There are a widespread variety of applications within the mineral wool industry from lagging pipes, enhancing air-conditioning systems, to high performance insulation products for shipping. The leading manufacturers are constantly initiating research and development activities to create products, which are tailored to environment and specific uses. For instance, technical insulation products have been developed to function in standard conditions even at 900�C - such as for power smoke flues, point boilers, and industrial piping. The benefits include improved safety for workers, reduced energy expenditure, and reduced condensation problems.

Mineral wool insulation is a key part of marine life. One of the most significant reason to insulate onboard is to save lives in case of fire. However, mineral wool's outstanding acoustic and thermal insulating capacity is also essential in providing enjoyable environment for passengers and good working conditions for the staff. Although, the insulation work is challenging in a shipyard, and hence, a wide range of preformed and pre-covered insulation products are available, which deliver weight savings, cost, and labor.

Coming back on the land, the insulation of mineral wool is also used for air conditioning systems, ventilation, and heating in industrial as well as commercial buildings. Thus, the mineral wool can be used to keep the heating water hot and the cooling water cold to avoid condensation.

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 actors that are driving the growth of global mineral wool market.

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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.

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. The report highlights the major players operating in the global market. Some of them are CertainTeed Corp, USG Interiors Inc., Roxul Inc, Knauf Insulation, Thermafiber Inc., Saint-Gobain, ROCKWOOL International A/S, Johns Manville, Maghard Insulator, Owens Corning, India Ltd., and others. These players are adopting several strategies such as mergers & acquisitions, strategic partnerships, R&D investments, and collaboration to enhance their presence in the global market.

Mr. Abhishek Paliwal
Research Dive
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