According to MRFR analysis, the global mineral wool insulation market is expected to reach around 12 billion in 2019.
Mineral wool insulationis rock, slag, or glass produced from a molten state into fibrous form. There are two types of mineral wool insulation.The first type is mainly made from natural stone fibers such as molten basalt or diabase. This type is obtained from volcanic rock, melted at around 1,600°C. This melted rock is subsequently spun into wool and bound together by different resins and oils.The second is made from spinning slag, a waste product in the production of steel. Manufacturers also make it from natural rock or by combining it with molten slag,and even glass.Mineral wool can be used in filtration, germination of seedlings, thermal insulation, and soundproofing.
The factors driving the global mineral insulation market include increased demand for mineral wool insulation, mainly due to its extensive properties such as low thermal conductivity and heat storage. Increased demand for energy and acoustic insulation in construction, automotive, and other industries is fueling the market's growth. The market is further propelled by the increased demand for fire protection materials and the presence of favorable government regulations.
Mineral wool insulation is widely incorporated in the interior and exterior parts of buildings; hence, it is subjected to government regulations imposed on building and construction safety. These regulations favor the global market and increases the consumption of insulation materials, especially in the US and Europe.
Increasing demand for green building
- Growing demand for energy-efficient building
- Favorable government regulations
- Presence of potential substitutes
- Glass Wool:This segment accounts for the largest market share and is expected to registerthe fastest growth during the forecast period. Glass wool, also known as fiberglass, is a mixture of natural and recycled glasswhich is melted at 1,450 °C, and is then spun quickly to create fibers. These fibers are then bound together to be used as insulation. They are widely used in building insulation, HVAC insulation, and industrial insulation.
- Rock Wool: This segment has recorded notable growth during the review period. Rock wool is made from volcanic rock (dolomite, diabase, and basalt). It offers exceptional fire performance characteristics, as well as excellent thermal and acoustic properties. They are widely used in building & construction, OEM solutions, horticulture, etc.
- Others: The others segments include mineral wool insulation types such as wood wool, ceramic fiber wool, blowing wool, etc.
- Board: This segment accounted for the largestmarket share and is expected to witness healthy growth during the forecast period; this is mainly due to the growing demand for mineral wool insulation boards in diverse end-use industries, including building &construction, primarily because of its non-combustible, water-repellent, fire-resistant and sound absorbentproperties.
- Blanket:This segment is expected to witness notable growth in the forecast period. Mineral wool insulationblanketsare a lightweight thermal insulation material that offers water-repellent, shock- and vibration-resistant mineral wool blankets with metal mesh support.
- Panel:It is mainly used in roof insulation, interior building applications, etc., where highfire safety, soundproofing, and high thermal insulation are required.
- Others:The others segments include products such as rolls, slabs, and pipes.
- Building & Construction:Building & Construction segments accounted for the largest market share in volume and value in 2019. This is mainly due to the high usage of Mineral wool insulation in interior and exterior building insulation such as roof insulation, wall insulation, floor insulation, ceiling insulation, and HVAC insulation. This segment is expected to register the highest CAGR in the forecast period.
- Industrial: Industrial application include insulation of large diameter pipe insulation; insulation of tanks and vessels; insulation for boilers and turbines; and critical marine and offshore installations including fire and acoustic insulation in ships and oil rigs.
- Transportation: The transportation segment includes insulation in automotive, marine, aerospace, and others to provide thermal and acoustic insulation forpassengers.
- Other: The others segments include industries such as horticulture and landscaping.
- Asia-Pacific:Asia-Pacific accounted for the largest market shareglobally and is the fastest-growing regional market; this is mainly attributed to the growing urbanization, high industrialization rates, and surge in construction spending.The growth potential is in emerging economies such as India, China, Malaysia, and Thailand. Further, favorable government initiatives to boost industrialization in the region is driving the market in the region.
- Europe:The demand is mainly driven by established construction & building industry, increasing production of electric vehicles,stringent building regulations, presence of advanced technology, and presence of well-established companies in the region.
- North America:North America recorded significant growth globallybecause of the growing residential construction,strict building regulations, and established industrial hub in the region.
- Middle East & Africa:The demand for Mineral wool insulationis rising owing to the increased demand for advanced building material, especially in Saudi Arabia, coupled with the rising per capita disposable income of the consumers in the region.
- Latin America: The Latin American market is projected to witness significantdemand for mineral wool insulationdue to the growing industrialization and economic development in the region, especially in Brazil and Mexico.
- Rockwool International,
- Knauf Insulation
- Johns Manville Inc.
- Owens Corning
- Acoustical Surfaces, Inc.
- Hush Acoustics
- Hodgson & Hodgson
- Guardian Fiberglass