The global mineral wool market Growth Accelerated by Thermal Efficiency Drives
The global mineral wool market is a highly specialized product industry that provides thermal and acoustic insulation materials for construction, industrial, and other applications. As one of the most effective insulation materials available, mineral wool is made from naturally abundant and renewable resources such as rock, slag, and slag. It has excellent fire resistance, moisture resistance, and long term stability of thermal properties that help maintain comfortable temperatures and lower energy costs.
The Mineral Wool Market is estimated to be valued at USD 15.22 Bn in 2024 and is expected to reach USD 21.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Key Takeaways
Key players: Key players operating in the mineral wool market include Byucksan, Great Lakes Textiles, ISOVER (Saint Gobain), Johns Manville, Knauf Insulation, National Industrial Co., NTN OOD, Owens Corning, PGF Insulation, Rockwool International AS, Kingspan Group, and Rosewool Insulation Refractory Co. Ltd. These companies are focusing on expanding their production capacity and global footprint to leverage growth opportunities.
Growing demand: Rapid urbanization and increasing construction of green buildings are major factors driving the Mineral Wool Market Trends for highly efficient insulation materials. Mineral wool performs exceptionally well in reducing energy consumption for heating and cooling applications.
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