Asbestos Market Report 2026

The asbestos market size has grown strongly in recent years. It will grow from $0.68 billion in 2025 to $0.74 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to use of asbestos in insulation and industrial applications, expansion of metallurgical and furnace industries, availability of surface and underground asbestos deposits, historical reliance on asbestos thermal resistance, development of mining infrastructure.

The asbestos market size is expected to see strong growth in the next few years. It will grow to $1.07 billion in 2030 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to increasing demand for asbestos alternatives, expansion of asbestos abatement activities, rising regulatory restrictions, growth of remediation services, increasing investments in safe material substitutes. Major trends in the forecast period include increasing focus on controlled mining and handling, expansion of remediation and encapsulation practices, growing emphasis on worker safety compliance, increased monitoring of asbestos processing, declining use of asbestos in new applications.

The increase in residential buildings is expected to drive the growth of the asbestos market going forward. Residential buildings are structures used for housing purposes. Asbestos is highly resistant to heat and fire, making it a suitable material for fireproofing, and it has been widely used in construction materials such as roofing, insulation, and fire curtains, thereby boosting demand from residential construction. For instance, in March 2025, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, both US-based government organizations, 1,549,000 new housing units were completed, indicating a continued rise in residential construction activity. Therefore, the growth in residential buildings is contributing to the expansion of the asbestos market.

Leading companies in the asbestos market are increasingly focusing on developing professional asbestos analysis services to accurately test and identify materials containing asbestos, thereby ensuring compliance with safety regulations and safeguarding public health during construction and renovation projects. These professional analysis services involve specialized testing and evaluation methods to detect and quantify asbestos presence in various materials. For instance, in August 2024, Benjel, a US-based company, introduced its Professional Asbestos Analysis Services, offering comprehensive testing solutions for businesses and homeowners. This initiative helps effectively manage asbestos risks and ensures safe environments during renovation and demolition activities. Ultimately, it aims to elevate safety standards and support adherence to health regulations, thus protecting public health and well-being.

In June 2023, WSP Global Inc., a Canadian professional services firm, completed the acquisition of Calibre Professional Services One Pty Ltd., an Australian-based company, for an undisclosed sum. This acquisition bolsters WSP's standing as a premier service provider throughout the entire life cycle of mining assets. It is projected to notably expand WSP's footprint in Western Australia and reinforce its position within the mining industry. Additionally, this move aims to enhance WSP's Earth and Environment capabilities. Calibre Professional Services One Pty Ltd specializes in construction and mining operations, including expertise in asbestos-related services.

Major companies operating in the asbestos market are Johns-Manville Corporation, Owens Corning, United States Gypsum Corporation, National Gypsum Company, CertainTeed Corporation, Pittsburgh Corning, Raybestos Industries, Eagle-Picher Industries, Celotex Corporation, Bestwall LLC, W.R. Grace & Co., Quigley Company, Flexitallic Gasket Company, Garlock Sealing Technologies, Kaiser Gypsum Company Inc., Bondex International Inc., Federal-Mogul, Dana Corporation, General Electric Company, General Motors, Babcock & Wilcox, Combustion Engineering, Allied Signal Inc., American Standard Inc., Allis-Chalmers Corporation.

Asia-Pacific was the largest region in the asbestos market in 2025. The regions covered in the asbestos market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the asbestos market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The asbestos market includes revenues earned by entities by providing mining services for asbestos mines such as amosite, crocidolite, or anthophyllite types. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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