What is Stone Wool Market?
Stone wool is also called mineral wool. It is produced by spinning molten rock and minerals with steel slag which creates a cotton candy like wool products. When it is pressed with rolls and sheets, it creates an effective isolation. In addition it provides a sound absorbing and fire resistant properties. Stone wool products derive the thermal properties from the air trapped in physical structures of stone wool. It helps in keeping hot air out in summers and warmth in cold climate. Moreover, Stone wool has wide range of applications such as building, marine, agriculture and many more.
The market study is being classified, by Application (Fire protection, Thermal Insulation, Acoustic Insulation and Others) and major geographies with country level break-up.
Saint-Gobain (France), Rockwool International (Denmark), Knauf Insulation (Netherlands), Industrial Insulation Group, LLC. (United States), CertainTeed Corp (United States), Guardian Fiberglass, Inc. (United States), Johns Manville (United States), Owens Corning (United States), Roxul Inc. (Canada) and Rock Wool Manufacturing Co. (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Thermafiber, Inc. (United States), USG Interiors, Inc. (United States), Paroc (Finland), Uralita (Spain) and Izocam (Turkey).
The global Stone wool market is witnessing rise in competitiveness among the players. In terms of market share, the major players are currently dominating. However, some of the companies are increasing the market presence by securing new contracts and tapping new markets. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Stone Wool market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Stone Wool market by Type, Application and Region.
On the basis of geography, the market of Stone Wool has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Properties of Stone Wool Such as Thermal and Acoustic Insulation
- Growing Concerns of Energy Conservation in Buildings is Fueling the Market
Market Trend
- Upgradation of Existing Insulation Systems
- Inclination towards the Use of Recyclable Materials
Restraints
- Availability of Alternatives May Hamper the Market
Opportunities
- Increasing Demand of Mineral Wool Based Insulation Products for Thermal and Acoustic Insulations
- Rising Usage of Heat Insulation for Industrial Applications to Avoid Heat Loss and Save Energy
Challenges
- Lack of Awareness about the Green Building Regulations
Market Leaders and some development strategies
On 13th November 2019, Saint Gobain has acquired Continental Building product which is a leader in wall board and joint compound materials.
In November 2019, Isover Launched Apta Arena, a Product in Iis Apta Sand Mineral Wool Line, Intended for Interior Divisions Offering High Thermal & Acoustic Performance. The Product is Also Made From Over 50% Of Recycled Materials & Can Be Fully Recycled After Use
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations and Others