Mineral Wool Market Poised to Grow at a CAGR of 6.5% by 2024
Infinium Global Research has added a new report on Mineral
Wool Market. The report presents analysis of global as well as regional
markets of mineral wool market over the period of 2016 to 2024.
Mineral wool is a generic name
for a range of man-made non-metallic inorganic fibres. 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 Stonewool, Slagwool
(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 as ability to save
energy, minimize pollution, combat noise, reduce the risk of fire and protect
life and property in the event of fire. Due to its unique properties, the
demand for 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 the industrial applications to
avoid heat loss and save energy. There is increasing demand of acoustical insulation
in the residential and commercial building all over the world. Furthermore,
ongoing research and development initiatives to make 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, is 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 presence of mineral wool manufacturers and the growth of end-use
industries in this region, Also, Asia Pacific region is expected to grow at the
highest CAGR during the forecast period of 2018-2024 due to huge demand of
mineral wool in many application, basically demand from construction sector.
Key Development:- In May 2018, Johns Manville launched its new products
at NPE 2018
Johns Manville (JM), a
market-leading manufacturer of continuous filament glass fiber and a Berkshire
Hathaway company,recently introduced several new products as ThermoFlow® 641
for polypropylene and StarRov® 895 at the NPE2018: The Plastics Show in
December 2017, Johns Manville introduced STARROV®853 for LFT
Johns Manville (JM), a
market-leading manufacturer of Continuous Filament Glass Fiber and a Berkshire
Hathaway company, launched StarRov® 853 Roving, which is available in both North America (225 Yield)
and Europe (1200 and 2400 Tex).
Moreover, the growth matrix presented by Infinium Global
Research identifies the key investment markets in the near future, this will
not only help the companies to understand the competitive position in the
global mineral wool market but also make strategic decisions to capture the
most lucrative markets in the near future.
The market size is presented in terms of value for the historic
year 2016 and estimated for forecast period of 2018-2024.
Get 15% discount for
early purchase of global mineral wool market report by clicking the following
link, Use code IGRD15 to request the discount in the given form
The recent report identified that North America dominated the
global mineral wool market over the last couple of years, while emerging
markets of Asia-Pacific and Latin America are anticipated to contribute
significantly to the growth in the mineral wool market worldwide.
The report segments the global mineral wool market on the basis
of Type, End products, Applications and End User.
Global Mineral Wool Market by Type
Global Mineral Wool Market by End Products
Global Mineral Wool Market by Applications
Global Mineral Wool Market by End User
Building & Construction
Companies Profiled in the Report
Johns Manville Inc.
Knauf Insulation GmbH
Rockwool International A/S
Glass Fiber Insulation
About Infinium Global Research
Infinium Global Research is a business intelligence company
that provides its clients with market information services, solutions, and
reports. The intelligence reports include qualitative as well as quantitative
information, which are blended using forecasting models in order to project
future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and
Consultants use numerous data gathering tools in order to provide you with
detailed information on the market as well as a preview of its projected
growth. Our repository includes the largest and most credible databases,
through which we determine various qualitative and quantitative parameters of
the market to provide you with an in-depth business intelligence report.
Infinium Global Research reports and consulting services cover
numerous sectors, which include healthcare, chemicals, materials, energy,
packaged goods, food and beverages, technology, and communications. These
reports provide readers with market insights and detailed analysis of market
segments to possible micro levels. Our reports, with stratified research
methodology and wider scope of analysis, provide clients with crucial insights
and information to meet their every requirement.