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Mineral Wool Market 2023 - Size, Share Analysis, Growth Trends And Forecasts 2032
Mineral Wool Market
The Business Research Company's Mineral Wool Global Market Report 2023 identifies strong growth in the pre-engineered buildings industry as the major driver for the Mineral Wool market's growth in the forecast period. Pre-engineered buildings and prefabricated buildings are the building components that are manufactured in the factories and assembled on the construction sites. These types of buildings are mainly used as warehouses and industrial sheds. Mineral wool insulations are used in pre-engineered buildings that provide high resistance to fire and sounds. During the construction of the buildings, mineral wools are used in walls, ceilings, and insulated floors.
The global mineral wool market size will grow from $13.04 billion in 2022 to $13.92 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mineral wool market size is expected to grow to $18.6 billion in 2027 at a CAGR of 7.5%.
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Major competitors in the Mineral Wool market are Compagnie de Saint-Gobain SA, John Manville, Knauf Insulation, Owens Corning, Rockwool International, Armacell India Private Limited.
A key trend in the Mineral Wool market includes glass wool insulation recycling. Glass wool recycling refers to the use of the leftover/waste glass/wool to manufacture the final glass wool product. Key players are increasingly focusing on recycling glass materials to manufacture new glass wool, enabling them to reduce material costs, and energy cost, and decrease the environmental impact. Recycled materials also improve the quality of the final products. This process attracts customers and improves product sales for manufacturers. For instance, Isover, a German glass wool manufacturing company, and a subsidiary of Saint-Gobain offers glass wool consisting of up to 80% of recycled glass that reduces the need for new raw materials and landfilling while increasing the quality of the final product. The company is also reducing the amount of energy required to fuse the glass.
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The Mineral Wool market is segmented -
• By Type: Glass Wool, Rock Wool, Other Types
• By Form: Board, Blanket, Panel
• By End Use Industry: Building And Construction, Industrial, Transportation, Other End Use
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Mineral Wool market.
The Business Research Company's "Global Mineral Wool Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Mineral Wool Market Include:
1. Executive Summary
2. Mineral Wool Market Characteristics
3. Mineral Wool Market Trends And Strategies
4. Mineral Wool Market - Macro Economic Scenario
5. Mineral Wool Market Size And Growth
………………………………..
26. Africa Mineral Wool Market
27. Mineral Wool Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Mineral Wool Market
29. Mineral Wool Market Future Outlook and Potential Analysis
30. Appendix
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