Who are the key players in Mineral Wool Market?

Rockwool International AS, Saint Gobain, Knauf Insulation, Owens Corning and Johns Manville are the major companies operating in the Mineral Wool Market. Read More

Which is the fastest growing region in Mineral Wool Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Mineral Wool Market?

In 2024, the Asia Pacific accounts for the largest market share in Mineral Wool Market. Read More

What years does this Mineral Wool Market cover, and what was the market size in 2023?

In 2023, the Mineral Wool Market size was estimated at USD 17.38 billion. The report covers the Mineral Wool Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mineral Wool Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Mineral Wool Market Size

Market Size of Mineral Wool Industry

Study Period	2019 - 2029
Market Size (2024)	USD 18.46 Billion
Market Size (2029)	USD 24.97 Billion
CAGR (2024 - 2029)	6.23 %
Fastest Growing Market	Asia Pacific
Largest Market	Asia Pacific
Major Players *Disclaimer: Major Players sorted in no particular order

Mineral Wool Market Analysis

The Mineral Wool Market size is estimated at USD 18.46 billion in 2024, and is expected to reach USD 24.97 billion by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).

The COVID-19 pandemic hindered the market because lockdowns, social distances, and trade sanctions caused significant disruptions to global supply chain networks. The construction industry has witnessed a decline due to the halt in activities. However, the condition recovered in 2021, which was expected to benefit the market during the forecast period.

The major factors driving the market are the growing building and construction industry and regulatory support to increase energy efficiency.
Health hazards related to mineral wool and the availability of cheap insulating materials are the factors that may slow down the market.
The increasing number of power plants in Asia-Pacific and the recyclability of glass mineral wool are the major opportunities to drive the market in the future.
Asia-Pacific is expected to dominate the global market due to government investments in construction activities, leading to a huge demand for mineral wool from countries such as China, Japan, and India.

Mineral Wool Industry Segmentation

Mineral wool is a fiber made of natural or synthetic minerals or metal oxides. The synthetic form is generally referred to as synthetic materials, including fiberglass, ceramic fibers, and stone wool. The mineral wool market is segmented by type, product type, end-user industry, and geography. By type, the market is segmented into glass wool, stone wool, and slag wool. By product type, the market is segmented into board, blanket, loose wool, and other product types. By end-user industry, the market is segmented into automotive and transportation, building and construction, industrial and consumer appliances, and other end-user industries. The report also covers the market size and forecasts for the geotextile market in 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of revenue (USD million).

Type
		Glass Wool
		Stone Wool
		Slag Wool

Product Type
		Board
		Blanket
		Loose Wool
		Other Product Types

End-user Industry
		Automotive and Transportation
		Building and Construction
		Industrial and Consumer Appliances
		Other End-user industries

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	Rest of Asia-Pacific

North America
	United States
	Canada
	Mexico

Europe
	Germany
	France
	United Kingdom
	Italy
	Rest of Europe

South America
	Brazil
	Argentina
	Rest of South America

Middle-East and Africa
	Saudi Arabia
	South Africa
	Rest of Middle-East and Africa

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Mineral Wool Market Size Summary

The mineral wool insulation market is poised for significant growth, driven by the expanding building and construction industry and regulatory support aimed at enhancing energy efficiency. Despite challenges posed by the COVID-19 pandemic, which disrupted global supply chains and slowed construction activities, the market has shown resilience and is expected to recover and thrive in the coming years. Mineral wool's properties, such as being non-combustible and resistant to high temperatures, make it an ideal choice for fire-retardant applications in construction. However, the market faces potential hurdles from health concerns related to mineral wool and competition from cheaper insulating materials. Opportunities for growth are bolstered by the increasing number of power plants in the Asia-Pacific region and the recyclability of glass mineral wool, which aligns with sustainability trends.

The Asia-Pacific region is anticipated to dominate the global mineral wool market, fueled by substantial government investments in construction activities in countries like China, Japan, and India. China's construction industry, the largest in the world, is expected to continue its robust growth, supported by significant investments in infrastructure projects. Similarly, India's construction sector is experiencing a surge due to government initiatives in infrastructure development and affordable housing. Japan's construction industry is also set for growth, driven by upcoming international events like the World Expo. These developments, along with the region's status as a leading automotive manufacturing hub, particularly in electric vehicle production, are expected to drive demand for mineral wool insulation. The market is partially consolidated, with major players like Rockwool International AS, Saint Gobain, and Knauf Insulation actively expanding their capacities to meet the rising demand.

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Mineral Wool Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Drivers
  1. 1.1.1 Growing Building and Construction Industry
  2. 1.1.2 Regulatory Support to Increase Energy Efficiency
2. 1.2 Restraints
  1. 1.2.1 Health Hazards Related to Mineral Wool
  2. 1.2.2 Availability of Cheap Insulating Materials
3. 1.3 Industry Value Chain Analysis
4. 1.4 Porter's Five Force Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining Power of Consumers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products and Services
  5. 1.4.5 Degree of Competition
2. MARKET SEGMENTATION (Market Size in Value)
1. 2.1 Type
  1. 2.1.1 Glass Wool
  2. 2.1.2 Stone Wool
  3. 2.1.3 Slag Wool
2. 2.2 Product Type
  1. 2.2.1 Board
  2. 2.2.2 Blanket
  3. 2.2.3 Loose Wool
  4. 2.2.4 Other Product Types
3. 2.3 End-user Industry
  1. 2.3.1 Automotive and Transportation
  2. 2.3.2 Building and Construction
  3. 2.3.3 Industrial and Consumer Appliances
  4. 2.3.4 Other End-user industries
4. 2.4 Geography
  1. 2.4.1 Asia-Pacific
    1. 2.4.1.1 China
    2. 2.4.1.2 India
    3. 2.4.1.3 Japan
    4. 2.4.1.4 South Korea
    5. 2.4.1.5 Rest of Asia-Pacific
  2. 2.4.2 North America
    1. 2.4.2.1 United States
    2. 2.4.2.2 Canada
    3. 2.4.2.3 Mexico
  3. 2.4.3 Europe
    1. 2.4.3.1 Germany
    2. 2.4.3.2 France
    3. 2.4.3.3 United Kingdom
    4. 2.4.3.4 Italy
    5. 2.4.3.5 Rest of Europe
  4. 2.4.4 South America
    1. 2.4.4.1 Brazil
    2. 2.4.4.2 Argentina
    3. 2.4.4.3 Rest of South America
  5. 2.4.5 Middle-East and Africa
    1. 2.4.5.1 Saudi Arabia
    2. 2.4.5.2 South Africa
    3. 2.4.5.3 Rest of Middle-East and Africa