A recent report published by Infinium Global Research on the mineral wool market provides an in-depth analysis of segments and sub-segments in global as well as the regional mineral wool market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional mineral wool market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global mineral wool market. According to the report the global mineral wool market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.
Mineral wool is a generic name for a range of man-made non-metallic inorganic fibers. It is widely known for its wide range of insulation applications. It is a common name for fiber materials that are formed by melting the raw material at high temperatures, creating a “lava”, and then spinning this into delicate fibers using centrifugal wheels. The common types of Mineral Wool are Stone wool, Slag wool (both of which are often referred to as Rockwool, which is actually a brand in most countries) and Glass Mineral Wool (previously referred to a Fibreglass or Fiberglass). These products are manufactured in similar processes and have similar properties. It is widely used in all sectors of industry as transport and building for thermal, acoustic and fire-protection purposes, etc.
Mineral wool has very unique properties, that no other insulation material can provide an ability to save energy, minimize pollution, combat noise, reduce the risk of fire and protect life and property in the event of a fire. Due to its unique properties, the demand for the mineral wool market is growing globally. The most important driving force behind the ongoing innovation of mineral wool products is the high demand for thermal insulation. The building materials using glass wool insulation consistently has proven it the most cost-effective solution. This has increased the demand for heat insulation products for industrial applications to avoid heat loss and save energy. There is an increasing demand for acoustical insulation in residential and commercial building all over the world. Furthermore, ongoing research and development initiatives to make the mineral fiber more innovative and more applicable to consumers is also a factor for the growth of the market globally. Due to some health issues as workplace exposure limits to workers, and standardization issues, every government has separate laws related to mineral wool production and sale, hence MNCs involved in this business have to follow its host country’s rule for business. The abundance availability of raw materials, and growing building and construction sector especially in developing countries as India and China are expected to provide a better opportunity for the market.
On the basis of region, the Global mineral wool market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America dominates the global mineral wool market, due to the presence of mineral wool manufacturers and the growth of end-user industries in this the region, Also, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period of 2018-2024 due to a huge demand for mineral wool in many application, basically demand from the construction sector.
The report on the global mineral wool market covers segments such as type, end products, applications, and end user. On the basis of type, the global mineral wool market is categorized into glass wool and stone wool. On the basis of end products, the global mineral wool market is categorized into a blanket, board, panel, customized shapes and others. On the basis of applications, the global mineral wool market is categorized into fire protection, thermal insulation, acoustic insulation, and others. On the basis of end user the global mineral wool market is categorized into transportation, building & construction, industrial and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China.
The report provides profiles of the companies in the global mineral wool market such as Johns Manville Inc., Knauf Insulation GmbH, Owens Corning, Paroc, Rockwool International A/S, Saint-Gobain, Uralita SA, Izocam, USG, and Poly Glass Fiber Insulation.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global mineral wool market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mineral wool market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the mineral wool market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the mineral wool market to understand the present and future trends in this market and formulate their strategies accordingly.
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