New York, NY -- (SBWIRE) -- 12/22/2020 -- The mineral wool material market is set to attain a valuation of USD 19.88 billion by 2027, registering a CAGR of 6.9%, according to the latest report by Reports and Data. Mineral wool material made from molten minerals or drawn rock material is a versatile fibrous material. The applications of mineral wool material are widespread in several industries including building and construction, industrial, and transportation.

Key participants include Rockwool International, Guardian Fiberglass, Owens Corning, CertainTeed Corporation, Industrial Insulation Group, Johns Manville, Knauf Insulation GmbH, Multisorb Technologies, Paroc, Uralita SA, among others.

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Market Drivers 

The major driving force for the development of the mineral wool material market is the increased government laws and regulations on energy management and building security, coupled with continued growth in the construction industry. Government expenditure in commercial projects is also a key main factor for the growth in the market. Mineral wool offers properties such as mold resistance, fire resilience, noise reduction, and thermal protection to maintain low temperatures.

For the purpose of this report, Reports and Data have segmented into the global Mineral Wool Material market on the basis of Type, Form, Application, and Region:

Type Outlook (Revenue, USD Billion; 2017-2027)

Rock Wool
Glass Wool

Form Outlook (Revenue, USD Billion; 2017-2027)

Board
Blanket
Panel

Application Outlook (Revenue, USD Billion; 2017-2027)

Building and Construction
Industrial
Transportation

Regional Outlook (Revenue, USD Billion; 2017-2027)

- North America
o U.S
- Europe
o U.K
o France
- Asia Pacific
o China
o India
o Japan
- MEA
- Latin America
o Brazil

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Regional Analysis

According to reports, the Asia Pacific region is anticipated to witness significant growth in the mineral wool material market over the forecast period. This is due to high industrialization rates, increasing urbanization, and the sharp increase in investments in the construction industry. Emerging markets like Thailand, China, and India will witness significant demand in the market due to the expansion of construction management and the strict construction and building regulations. Oil refineries, air-conditioned offices, commercial environments and power plants are increasingly appreciated in the European and North American markets.

Key Takeaways:

The report holds an unbiased perspective towards the global market performance.
The report comprehensively analyzes the changing competitive scenario
Significant market dynamics, such as drivers, opportunities, restraints, and threats, have been discussed in the report.
The study presents an 8-year assessment of the global market and its principal product segments.
Furthermore, the report provides essential data pertaining to the global market progress.

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