Overview of the Global Mineral Wool Market to 2026 – Featuring Knauf Insulation, National Industrial and PGF, among others – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD) – The report “Mineral Wool Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The global mineral wool market is expected to register a CAGR of over 4% during the forecast period (2021-2026).
EcoTherm Insulation (UK) Limited
Manufacturing Services, Inc
Johns Manville (Berkshire Hathaway Inc.)
National Industrial Company,
ROCKWOOL International A / S
Key market trends
The building and construction industry will dominate the market
The construction industry is the dominant segment due to strict regulations requiring the use of mineral wool to save energy and achieve efficiency.
Mineral wool is a fibrous yarn material which is used for thermal, flame retardant and sound insulation in the construction industry. It is used in frame partitions, cavity masonry walls, roofs, pipes and ducts, and in timber frame construction for thermal insulation purposes. Mineral wool is also applied in floors and partitions to resist sound transmission.
Properties such as lightness, high strength, heat shielding, easy installation and excellent noise, heat and fire resilience, resistant refractory properties make it best compatible for construction industry.
The global construction industry was valued at around US $ 12 trillion in 2019 and is expected to reach around US $ 14.3 trillion by 2024, with a CAGR of around 3.5%, thus boosting demand for the construction market. mineral wool.
Asia-Pacific countries like China, India and Vietnam saw strong growth in construction activity, which is expected to boost the consumption of mineral wool in the region during the forecast period. For example, in 2019, China had around 238 civilian airports and it is estimated that around 450 airports will be needed nationwide by 2035, which is expected to drive demand for mineral wool for insulation applications in the industry. construction.
North American countries like the United States and Canada have seen an increase in residential construction projects, which is expected to increase the consumption of mineral wool in the region. On the other hand, in 2019, the total value of new construction put in place was around $ 1,365 billion in the United States and reached around $ 1,430 billion in 2020, with a growth rate of around 4.5%. , which is likely to stimulate market demand.
Hence, the aforementioned factors are expected to have a significant impact on the market in the coming years.
The Asia-Pacific region will dominate the market
The Asia-Pacific region is the largest and fastest growing market for the construction and power generation industry. Factors, such as the growing need for energy savings and ensuring strict regulatory standards under the International Green Construction Code (IgCC) standards, have dictated the requirements for mineral wool in Asia Pacific.
The consumption of mineral wool is growing rapidly due to the increasing use of gaskets, water coatings and boilers used in combustion zones, heat shields, pipe insulation, fire protection and others.
In 2020, China’s construction industry was valued at around USD 1,049.2 billion and is expected to reach approximately USD 1,117.4 billion by 2021, with a growth rate of around 6.5%, resulting in an increase in the consumption of mineral wool from the construction industry. for various applications including insulation, shielding and others, thus increasing the demand for the studied market.
In addition, the total new construction in Japan was about 127.55 million square meters in 2019 and reached about 113.74 million square meters in 2020, with a decline rate of about 10.5%, resulting in a decrease in the consumption of mineral wool used in the country’s construction sector.
In addition, increased investment in the renewable energy sector in countries like Japan, India, China and Indonesia has further boosted demand for mineral wool.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Construction Industry
4.1.2 Regulatory support to increase energy efficiency
4.2.1 Health risks associated with mineral wool
4.2.2 Availability of inexpensive insulation materials
4.2.3 Adverse conditions due to the COVID-19 epidemic
4.3 Industry Value Chain Analysis
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.2 Product type
5.3 End-user industry
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Market share (%) / Ranking analysis
6.3 Strategies adopted by the main actors
6.4 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing number of power plants in Asia-Pacific
7.2 Other opportunities
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