PUBLISHER: The Business Research Company | PRODUCT CODE: 1650634
PUBLISHER: The Business Research Company | PRODUCT CODE: 1650634
Mineral wool is a non-metallic, inorganic product primarily made from either stone or silica that has been heated to a high temperature and transformed into a molten state. Carefully curated raw materials are utilized in the manufacturing process. Mineral wool is valued for its excellent thermal insulation properties, helping to prevent heat transmission through building envelopes and thereby reducing the need for energy in room heating and cooling.
The primary types of mineral wool include glass wool, rock wool, and other variations. Glass wool, for instance, is an insulation material manufactured from glass fibers arranged using a binder into a texture similar to wool. Glass wool is known for being eco-friendly and highly effective, meeting the requirements of various applications in different industries. It is available in three forms such as board, blanket, and panel. Mineral wool is used by industries such as building and construction, industrial, transportation, and other end-use sectors.
The mineral wool market research report is one of a series of new reports from The Business Research Company that provides mineral wool market statistics, including mineral wool industry global market size, regional shares, competitors with an mineral wool market share, detailed mineral wool market segments, market trends and opportunities, and any further data you may need to thrive in the mineral wool industry. This mineral wool market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The mineral wool market size has grown strongly in recent years. It will grow from $14.72 billion in 2024 to $15.87 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to construction industry, energy efficiency regulations, industrial applications, renovation and retrofitting.
The mineral wool market size is expected to see strong growth in the next few years. It will grow to $23.03 billion in 2029 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to sustainable building materials, urbanization and construction growth, energy efficiency targets, increased awareness. Major trends in the forecast period include technological advancements, innovation in product development, stringent building codes and standards, digitalization and smart construction, customization and modular construction, e-commerce and online distribution.
The growing demand in the construction sector is expected to drive the growth of the mineral wool market in the future. Construction involves the planning, designing, and building of physical structures, infrastructure, or facilities. Mineral wool contributes to improved energy efficiency, fire safety, durability, chemical resistance, indoor comfort, and overall building performance. For instance, in May 2024, the Australian Bureau of Statistics, an Australia-based government agency that collects and analyzes data, reported that in 2022, the construction industry's EBITDA increased by 11.6% to $6.1 billion, recovering from an 8.4% decline to $4.8 billion in 2021. Additionally, the industry's IVA surged by 14.8%, or $21.0 billion, building on the previous year's 9.6% increase of $12.4 billion. Consequently, the rising demand for construction is driving the growth of the mineral wool market.
The mineral wool market is poised for growth due to the increasing demand for renewable energy. Mineral wool is utilized in renewable energy for insulation in energy-efficient structures and solar thermal systems, contributing to energy conservation and sustainable construction. According to gov. uk (assets publishing service) in September 2023, an additional 3. 0 GW of renewable capacity was added as of Q2 2022, indicating a 5. 8% increase compared to the previous year, with contributions from offshore wind, solar PV, and onshore wind. The rising demand for renewable energy is thus fueling the expansion of the mineral wool market.
A key trend gaining popularity in the glass wool mineral market is the recycling of glass wool insulation. Glass wool recycling involves using leftover or waste glass/wool to manufacture the final glass wool product. Companies are increasingly focusing on recycling glass materials to reduce material and energy costs, decrease environmental impact, and improve the quality of the final products. For instance, Isover, a German glass wool manufacturing company and a Saint-Gobain subsidiary, offers glass wool with up to 80% recycled glass content, reducing the need for new raw materials and landfilling while enhancing product quality.
Major companies in the mineral wool market are concentrating on the development of innovative products to drive revenues. For instance, in May 2023, One such product is ominifit slab 32, introduced by Knauf Insulation GmbH, a Belgium-based manufacturer of insulation materials. Ominifit slab 32 is designed for use in external wall systems of residential buildings and rain-screen facades. It surpasses necessary performance requirements, including thermal performance, fire safety, and acoustic performance meeting building regulations part E. The product has up to 80% recycled content, and Knauf Insulation employs an efficient compression packaging technique, translating to less handling and storage on-site, increased product per pack, and reduced environmental impact.
In February 2022, Saint-Gobain, a France-based material manufacturing company, acquired Rockwool India Private Ltd from Alghanim Group for an undisclosed amount. This strategic acquisition is expected to enhance Saint-Gobain's capabilities and contribute to global growth. Rockwool India Private Ltd specializes in producing stone wool insulation products for thermal, acoustic, and fire safety applications.
Major companies operating in the mineral wool market include Compagnie de Saint-Gobain SA, Johns Manville International Inc., Knauf Insulation Inc., Owens Corning Sales LLC, Rockwool International A/S, Saint-Gobain ISOVER, Paroc Group Oy, Armacell International S. A., GAF Materials Corporation, Kingspan Group plc, Ursa Insulation S. A., Thermafiber Inc., Unifrax I LLC, Guardian Building Products Distribution Inc., Shandong Luyang Share Co. Ltd., Beijing New Building Material Co. Ltd., Hebei Huaneng Zhongtian Hi-Tech Co. Ltd., Hengxiang Insulation Materials Co. Ltd., Changzhou Tianqi Rockwool Co. Ltd., Jinan Shengquan Group Share Holding Co., Langfang Juheng Building Materials Co. Ltd., ODE Industry and Trade Limited Company, Changchun ShiLu Insulation Materials Co. Ltd., Byucksan Corporation, Rock Wool Manufacturing Company, Sager AG, ISOMAT S. A.
Asia-Pacific was the largest region in the mineral wool market in 2024. The regions covered in the mineral wool market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the mineral wool market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The mineral wool market consists of sales of slag wool and stone wool. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The market value includes the value of related goods sold by the service provider or included within the service offering.
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.
Mineral Wool Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mineral wool market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mineral wool ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mineral wool market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.