DUBLIN--(BUSINESS WIRE)--The "Global Mineral Wool Market 2022-2025 - Insulation & Other Applications" report has been added to ResearchAndMarkets.com's offering.
Global demand for mineral wool insulation is forecast to increase 3.8% per year to 10.0 million metric tons valued at $11.0 billion in 2025.
Demand for mineral wool used in other applications - including ceiling tiles and such small volume applications as water filtration - is forecast to increase 4.9% per year to $2.4 billion.
Going forward, growth in the global mineral wool market will be driven by:
- Advances in nonresidential building construction, particularly in the Asia/Pacific and Africa/Mideast regions, and a global rebound in new residential building construction
- Increasingly stringent energy efficiency and fire safety policies throughout the world, which often call for greater use of heat-resistant insulation
- The growing use of mineral wool for acoustic insulation to reduce noise pollution and improve worker safety as well as to meet consumer demand for quieter household appliances
- Increasing access to air conditioning in developing countries, leading to rising levels of HVAC production and associated mineral wool insulation demand
- Growth in high-end industrial equipment production in the US, Germany, Italy, Japan, and South Korea
China & India Drive Global Mineral Wool Insulation Gains
China and India will account for 40% of mineral wool insulation gains globally through 2025, driven by robust expansions of their nonresidential building stocks. In addition, India will see rapid growth in residential building construction from a low base, as the pandemic suppressed construction in 2020. Demand in both countries will also be bolstered by an increasing desire for acoustic insulation to reduce noise transmission in buildings.
The rest of the Asia/Pacific region will account for an additional 15% of global gains, supported by:
- Continued production of industrial equipment and high-end motor vehicles, heavy machinery, and appliances in Japan and South Korea
- Strong growth in HVAC equipment production, as the Asia/Pacific region will remain the leading regional manufacturer of these products
Ceiling Tiles, Water Filtration, & Hydroponics Are Key Non-Insulation Uses for Mineral Wool
While insulation accounts for the vast majority of mineral wool use, ceiling tiles, water filtration, and hydroponics offer opportunities for mineral wool suppliers:
- Ceiling tiles are often used for soundproofing and fireproofing in nonresidential buildings such as offices and hospitals. Already popular in North America, they are increasingly being used as an alternative to drywall ceilings in China.
- Water filtration is an important application for mineral wool, as demand for potable water is increasing in areas with limited access to sanitation systems and water infrastructure.
- Mineral wool can be used as a medium for hydroponic plants, which allow for crop production in areas with less arable land and limited water sources.
Overview
- Historical Market Trends
- Regional Mineral Wool Insulation Trends
- Demand by Region
- Leading Country Markets
- Fastest Growing Country Markets
- Production by Region
- International Trade
- Competitive Insulation Products
- Demand by Type (Rock Wool vs. Slag Wool)
- Insulation Pricing Trends
- Mineral Wool Insulation Market Share & Leading Producers
Mineral Wool
- Mineral Wool Demand by Application
- Thermal Insulation & Fireproofing
- Acoustic Insulation & Soundproofing
- Ceiling Tiles & Panels
- Small Volume Applications (Hydroponics, Filtration, EIFS, & Green Roofing)
Mineral Wool Insulation Markets
- Demand by Market
- Residential Buildings
- Nonresidential Buildings
- Industrial Plant & Equipment
- HVAC/Air Distribution
- Other Markets
For more information about this report visit https://www.researchandmarkets.com/r/xb6qhn
