Mineral Wool Material Market Analysis by Size, Share, Growth, Trends up to 2025
Category: #reports  By Rahul Sankrityayan  Date: 2020-04-24
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Mineral Wool Material Market Analysis by Size, Share, Growth, Trends up to 2025

 Global mineral wool material market is estimated to surpass $22.5 billion by 2026. The mineral wool material market product segment is bifurcated into rock wool and glass wool. A paradigm shift towards usage of eco-friendly materials throughout different sectors like industrial, automotive, manufacturing and construction will likely influence the growth of rock wool market.

With increasing demand for thermal and acoustic insulation, the global mineral wool market is projected to witness a lucrative growth rate over the forthcoming time period. Strong application of mineral wool material as a standard material for insulation in high temperature applications like marine applications, boilers, vessels, industrial ovens and furnaces will further push the market share.

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Top Companies

  1. Knauf Insulation
  2. Armacell India Private Limited
  3. U.P.Twiga Fiberglass Limited
  4. Saint Gobain India Pvt. Ltd.
  5. Lloyd Insulations (India) Limited
  6. Rockwool India Pvt. Ltd.
  7. Gyptech Systems Pvt. Ltd.
  8. Polybond Insulation Private Limited
  9. Goenka Rockwool (India) Pvt. Ltd.
  10. Minwool Rock Fibres Limited
  11. Punjstar Industries Pvt. Ltd
  12. Shreeram Equitech Pvt

Growth Drivers are

  • Strong growth in the Pre-Engineered Buildings (PEB) industry
  • Booming transportation sector
  • Environment-friendly nature and positive outlook in acoustic insulation applications

Additionally, the chemical inertness of mineral wool material, combined with strength and impact resistance will open numerous opportunities in sectors like automotive, industrial and construction. Also, acoustic and fire-resistant abilities of mineral wool material will further drive the demand over the projected timeline.

The mineral wool material market product segment is bifurcated into rock wool and glass wool. A paradigm shift towards usage of eco-friendly materials throughout different sectors like industrial, automotive, manufacturing and construction will likely influence the growth of rock wool market.

Furthermore, the sustainable manufacturing processes of rock wool due to its raw materials that are ecological-friendly will further lead to expansion of product demand. The low cost of production of rock wool because of various counts of basalt rock reserves will also provide numerous growth opportunities for market participants.

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Likewise, the appeal for mineral wool material's, mainly rock wool's recyclability would further create new growth opportunities in the industry.

With respect to the form segment, the industry is classified into board, blanket and panel forms. Among these, the blanket form segment is used for industrial ovens and furnaces where high-temperature, flexible and lightweight insulation is needed. The key industry participants are also investing in R&D activities to enhance comprehensive strength thereby maintaining flexibility for ease of installation.

Additionally, growing government investments in various commercial and industrial projects relating to insulation of fire and sound will further accelerate the market share. The inclusion of heavy R&D investments as well as advanced technologies by prominent companies due to the rising product adoption, specifically in the industrial sector, would also likely boost the market outlook.

As per application segment, the market is segmented into transportation, industrial and building & construction. The growing demand for acoustical control, mold resistance, fire resistance, and moisture control will propel the mineral wool material market from the applications such as industrial, HVAC and OEM.

In industrial buildings, insulation of walls and roofs saves the cost of cooling and heating. Insulation based products are used throughout different industries control process temperature and condensation and also protects personnel.Furthermore, these make the process of production more ecofriendly, cost-effective and give exposed equipment and piping a finished and durable appearance.

On the geographical front, the growth in APAC region is mainly being attributed to rapidly increasing industrial and construction markets, which are creating high levels of insulation demand. Major countries throughout the region such as Japan, India, China and Australia are also applying design standards for efficient energy of residential, commercial and green buildings, further contributing to the growing demand for mineral wool material throughout this region.

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Mineral wool material industry participants are further engaging in activities such as collaborations and partnerships to enhance their product portfolio and geographical presence. Also, higher level of product differentiation has enabled prominent industry players to gain a higher market share.

Furthermore, various innovation opportunities to better the quality of building envelope using advanced materials will also slow down the competitive situation in the market. Personalized product offerings, that are flexible for various applications will further lead to product differentiation in the market.

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Rahul Sankrityayan

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Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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