Press release
Mineral Wool Market Anticipated To Witness Robust Growth, Surpassing $23.03 Billion By 2029
Mineral Wool Market Demand
What Is the Current Mineral Wool Market Size and Its Estimated Growth Rate?
In the past few years, the size of the mineral wool market has significantly expanded. The market size is set to increase from $14.72 billion in 2024 to $15.87 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%. The previous growth in this market is credited to factors such as the construction sector, regulations for energy efficiency, industrial usages, as well as renovation and retrofitting projects.
The market size of mineral wool is anticipated to experience robust expansion in the upcoming years, escalating to $23.03 billion in 2029 with an annual growth rate of 9.8% on a compounded basis. The factors contributing to this growth during the forecast period include the use of sustainable building materials, growth in urbanization and construction, energy efficiency goals, and heightened awareness. Major developments that are predicted to occur during this period include technological progress, innovative product development, strict building codes and standards, digitization and intelligent construction, custom-made and modular construction, along with e-commerce and internet-based distribution.
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How Are Emerging Segments Shaping the Mineral Wool Market Landscape?
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
Subsegments:
1) By Glass Wool: Light Density Glass Wool, Medium Density Glass Wool, Heavy Density Glass Wool
2) By Rock Wool: Slabs, Batts, Loose Fill, Pipe Insulation
3) By Other Types: Calcium Silicate, Ceramic Fiber, Mineral Fiber
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Which Growth Factors Are Influencing Mineral Wool Market Expansion?
The growth of the mineral wool market is anticipated to be driven by escalating demand in the construction sector. Construction entails the planning, design, and creation of physical structures, infrastructure or facilities. The benefits of mineral wool include enhanced energy efficiency, fire safety, durability, chemical resistance, indoor comfort, and overall improvement in building performance. For instance, data from the Australian Bureau of Statistics, a governmental agency from Australia that collects and analyses statistical information, shows that in 2022, the construction industry's EBITDA rose by 11.6% to $6.1 billion, bouncing back from the previous year's decrease of 8.4% to $4.8 billion in 2021. Furthermore, the industry's IVA experienced a surge by 14.8%, or $21.0 billion, adding to the prior year's increase of 9.6% of $12.4 billion. Thus, the rising demand in construction is fuelling the expansion of the mineral wool market.
Who Are the Dominant Players Across Different Mineral Wool Market Segments?
Major companies operating in the mineral wool market include Compagnie de Saint-Gobain SA, Johns Manville International Inc., Knauf Insulation Inc., Owens Corning Sales LLC, Rockwool International A/S, Saint-Gobain ISOVER, 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, Sager AG, ISOMAT S. A.
What Are the Latest Developing Trends in the Mineral Wool Market?
The trend of recycling glass wool insulation is seeing increased popularity within the glass wool mineral market. This refers to utilizing excess or waste glass/wool during the production of the final glass wool product. Key market players are beginning to concentrate more on using recycled glass materials for creating new glass wool, which lowers their material and energy costs while also minimizing their environmental footprint. The use of recycled materials also enhances the final product quality, a factor that tends to attract customers and boost manufacturers' product sales. For example, Isover, a subsidiary of Saint-Gobain and a German-based glass wool manufacturer, provides glass wool that includes up to 80% recycled glass. This reduces the need for fresh raw materials and landfilling, and it also augments the final product's quality. Additionally, the company is cutting down on the amount of energy used to melt the glass.
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Which Geographic Regions Are Expected to Dominate the Mineral Wool Market in the Coming Years?
Asia-Pacific was the largest region in the mineral wool market in 2024.The regions covered in the mineral wool market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Mineral Wool Market?
2. What is the CAGR expected in the Mineral Wool Market?
3. What Are the Key Innovations Transforming the Mineral Wool Industry?
4. Which Region Is Leading the Mineral Wool Market?
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