Mineral wool Market by Type, By End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to the report titled, 'Mineral wool Market by Type, End Use Industry, and region: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global mineral wool market size was valued at $9.9 billion in 2018 and is projected to reach $16.0 billion by 2026, growing at a CAGR of 6.3% from 2019 to 2026.

Mineral wool is modern insulation material produced using renewable material and therefore it is environmentally free in nature. As the product level, mineral wool is available in various forms including rolls, slabs, pipe sections or loose wool. It is known for its excellent insulating properties and highly recommended in construction, industrial, and transportation-related applications.
The global mineral wool market is registering the extensive growth across the globe in response to the exp anding nature of the end-use industries. Insulation material industry is witnessing a trend of up-gradation in terms of material use. Therefore, manufacturers are focusing on renewable insulating material which is setting a growth trajectory of this market across the globe. In line with this trend, favorable government regulation and regulatory norms pertinent to energy-efficient laws are fueling the adoption of mineral wool material across the globe.

Factors such as significant rise in the residential activities in Asia-Pacific and U.S., incorporation of new construction practices in the current housing projects, balanced supply-demand scenario in the automotive industry, and confidently rise in the adoption of luxury vehicles are major growth drivers in this market. Besides, this climatic changes that leading to the need for insulation and growing focus on renewable energy generation further anticipated to offer growth opportunities during the forecast period. On the contrary, lack of awareness regarding the insulation properties of mineral wool and their associated benefits have emerged as a key growth barrier in the current scenario across the globe.

Based on the end-use industry, the building and construction industry has emerged as the global leader in 2018. Several factors make the building and construction industry a major consumer in this market are the incorporation of new construction practices, the emergence of concepts like zero-energy buildings, and exp anding residential projects across the globe.

Key players operating in the global mineral wools market are Compagnie de Saint-Gobain S.A., IZOCAM, John Manville, Knauf Insulation, KorffIsolmatic GmbH, Owens Corning, Poly Glass Fibre Insulation, Rockwool International A/S, TechnoNICOL, and URSA Insulation S.A, and others.

According to Eswara Prasad, Manager, Chemical and Materials,,“ Mineral wool market is registering significant growth across the globe in response to the up-gradation in the overall insulation material along with demand for cost-effective insulation material. The role played by mineral wool in the construction and automotive industries are very much essential in terms of energy efficiency. Therefore, consumers are adopting mineral wool as a modern insulation material over traditional materials. This transition in terms of material usage anticipated offering profitable growth opportunities during the forecast period.”

KEY FINDINGS OF THE STUDY:

• Manufacturers in the overall insulation industry are preferring renewable material which is playing as an added advantage to the global mineral wool market
• Mineral wool is registered in the REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) regulation in Europe. Therefore, regulation draft released by European Union regarding energy efficient insulation material is driving the demand for mineral wool not only in Europe but across the globe.
• Emergence of concepts such as zero-energy buildings and smart cities anticipated to offer investment related opportunities during the forecast period
• Incorporation of new construction practices in the current residential projects is offering a wide scope to the utilization of mineral wool thereby contributing greatly to this market

Companies Mentioned

• Compagnie de Saint-Gobain S.A.
• IZOCAM
• John Manville
• Knauf Insulation
• Korff Isolmatic GmbH
• Owens Corning
• Poly Glass Fibre Insulation
• Rockwool International A/S
• TechnoNICOL
• URSA Insulation S.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.