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Mineral Wool Global Market Report 2024 - By Growth, Size, Share And Demand, Forecast To 2033
Mineral Wool Market
As per the report, the mineral wool market size has grown strongly in recent years. It will grow from $13.77 billion in 2023 to $14.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The mineral wool market size is expected to see strong growth in the next few years. It will grow to $20.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
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Elevated Demand In The Construction Sector Fuels Growth Of The Mineral Wool Market
The increasing demand in the construction is expected to propel the growth of the mineral wool market going forward. Construction is the process of planning, designing, and building physical structures, infrastructure, or facilities. Mineral wool improves energy efficiency, fire safety, durability, chemical resistance, indoor comfort, and overall building performance. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, by 2030, the global construction output is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the increasing demand for construction is driving the growth of the mineral wool market .
Sustainability And Recycling Initiatives Transforming The Glass Wool Mineral Market
Glass wool insulation recycling is the key trend that is gaining popularity in the glass wool mineral market. 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.
The mineral wool market covered in this report is segmented -
1) By Type: Glass Wool, Rock Wool, Other Types
2) By Form: Board, Blanket, Panel
3) By End Use Industry: Building And Construction, Industrial, Transportation, Other End Use
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Major companies operating in the mineral wool market report are Compagnie de Saint-Gobain SA, Johns Manville International Inc., Knauf Insulation Inc., Owens Corning Sales LLC, Rockwool International A/S, Saint-Gobain ISOVER, Uralita Holdings S. A., Paroc Group Oy, Armacell International S. A., GAF Materials Corporation, Kingspan Group plc, Ursa Insulation S. A., Thermafiber Inc., Unifrax I LLC, Guardian Building Products Distribution Inc., Shandong Luyang Share Co. Ltd., Beijing New Building Material Co. Ltd., Hebei Huaneng Zhongtian Hi-Tech Co. Ltd., Hengxiang Insulation Materials Co. Ltd., Changzhou Tianqi Rockwool Co. Ltd., Jinan Shengquan Group Share Holding Co., Langfang Juheng Building Materials Co. Ltd., ODE Industry and Trade Limited Company, Changchun ShiLu Insulation Materials Co. Ltd., Byucksan Corporation, Rock Wool Manufacturing Company, OJSC Gomelglass, Sager AG, ISOMAT S. A., Stepan Company
Contents of the report:
1. Executive Summary
2. Mineral Wool Market Report Structure
3. Mineral Wool Market Trends And Strategies
4. Mineral Wool Market - Macro Economic Scenario
5. Mineral Wool Market Size And Growth
…..
27. Mineral Wool Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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