About Mineral Wool Insulation
Mineral Wool Insulation Makes Use of Mineral Wool Which is a Non-Metallic, Inorganic Product Manufactured From a Carefully Controlled Mix of Raw Materials, Mainly Comprising Either Stone or Silica Which are Heated to a High Temperature Until Molten. Molten Glass or Stone so Formed is Then Spun & Formed Into a Flexible, Fibrous Mat for Further Processing Into Finished Products. Material Used for Insulation in Very Versatile as it Can be Manufactured in Many Different Densities to Give Varying Properties, Formed in Various Shapes & Faced With a Variety of Sheet Materials
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.74% |
The Market for the Mineral Wool Insulation is Fragmented With the Presence of Many Players. Leading Players Can Adopt Strategies Like a Merger, Acquisition, Expansion, New Product Launch, In Order to Gain Share Within the Market. Owing to Booming Industrialization & Urbanization, There are Growing Prospects for the New Players to Enter the MarketThe Manufacturers having a strong hold in the market are Rockwool Owens Corning Knauf Insulation Saint-Gobain Johns Manville. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Mineral Wool Insulation market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Saint-Gobain (France), Johns Manville (United States), Knauf Insulation (Germany), Owens Corning (United States), Rockwool International A/S (Denmark), Uralita (Spain), Izocam (Turkey), USG Corporation (United States), Rock Wool Manufacturing Company (United States) ` and Westcal Insulation Ltd (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are NGP Industries Ltd. (India), AE Building Systems (United States), Goenka Rockwool Pvt Ltd (India), Thermocare Rock Wool India Pvt Ltd (India) and Shree Ram Equitech Pvt Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global Mineral Wool Insulation market by Type (Blanket (Batts & Rolls), Board, Loose Fill Materials and Others), Application (Thermal Insulation, Acoustic Insulation, Filtration, Germination of Seedlings and Others) and Region.
On the basis of Type, Blanket are dominating the market in the year 2023 where as Board stood as second largest market share.
On the basis of application, Thermal Insulation segment is dominating the market in the year 2023 where as Acoustic Insulation segment stood as second largest market .On the basis of geography, the market of Mineral Wool Insulation 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). Europe region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End-Use Industry, the sub-segment i.e. Real Estate will boost the Mineral Wool Insulation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Mineral Wool Insulation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Glass Wool will boost the Mineral Wool Insulation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Mineral Wood Insulation Due to its Widespread Availability & Durability
Market Growth Drivers:
Need for Soundproofing & Energy Conservation in Construction & Automotive Sector and Rise in the Insulation Requirements in Industries for Insulating Tanks, Vessels, Boilers, Turbines, Large Diameter Pipes, & Other Equipment
Challenges:
Presence of Alternate Insulations Like Cellulose Loose-Fill & Sheep’s Wool
Restraints:
Fluctuating Price of Raw Materials
Opportunities:
There is an Increased Opportunity for the Market Expansion, Owing to Household Applications of Mineral Wool Insulation like the Insulation of Floors, Ceilings, Lofts, Cavity Walls, Internal & External Walls, & Flat Roofs and There are Prospects for the Growth of Mineral Wool Insulation, Owing to the Rising Use in Marine & Refrigeration Industry
Market Leaders and their expansionary development strategies
In December 2023, ROCKWOOL Group has acquired Boerner Insulation Sp. z o.o. in Poland. The agreement requires Polish regulatory approval, which is pending. The acquisition will accelerate ROCKWOOL’s growth plans in this high-priority region.
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. and In JANUARY 2024, Metso launches electric mineral wool melting furnace to enable decreased CO2 emissions in the mineral wool industry.The Outotec Mineral Wool Furnace design is based on Metso’s proven proprietary equipment used in various ferroalloy and slag cleaning applications. The furnace is part of Metso’s Planet Positive offering.
Key Target Audience
Manufacturers of Mineral Wool Insulation, Distributors, Traders, & Suppliers, Investors, Regulatory & Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.