- Report ID: BMRC 1030 | Number of pages: 200 | Publish Date: Apr 2020
Status: Published | Category: Chemical And Materials | Delivery Timeline:
"Mineral Wool Material Market is valued at USD 11.35 Million in 2018 and expected to reach USD 17.65 Million by 2025 with the CAGR of 6.5% over the forecast period."
Increasing demand for thermal and acoustic insulation is driving the mineral wool material market demand from building & construction sector.
Mineral wool is any fibrous material made by spinning or drawing molten mineral or rock materials such as slag and ceramics. Mineral wool is also known as mineral fiber, mineral cotton, mineral fiber, man-made mineral fibre (MMMF), and man-made vitreous fiber (MMVF). It is a versatile fibrous material made from drawing rock materials or molten minerals such as ceramics or slag. Major applications of rock wool are in sound insulation, thermal insulation, fire safety, and acoustic comfort. These factors make it an ideal insulating material for foundries, power plants, refineries, chemical and petrochemicals industries, where extreme temperature swings are frequent. Common application of mineral wool include thermal insulation (as both structural insulation and pipe insulation, though it is not as fire-resistant as high-temperature insulation wool), filtration, soundproofing, and hydroponic growth medium.
Mineral wool material market report is segmented on the basis of product, form, application and by regional & country level. Based upon product, mineral wool material market is classified into rock wool and glass wool. Based upon form, mineral wool material market is classified board, blankets, panel and others. Based upon technology, Mineral Wool Material market is classified into Ethernet, Fiber Optic and Infiband. Based upon application, mineral wool material market is classified into building & construction, industrial, transportation and others.
The regions covered in this mineral wool material market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of image-based cytometer is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players Mineral Wool Material Market Reports-
Mineral Wool Material market report covers prominent players are Gigamon, IBM, Ixia, Viavi, Apcon, Garland Technology, Juniper Networks, Inc., Cisco, Broadcom, Big Switch Networks and Others.
Mineral Wool Material Market Dynamics –
Increasing demand for the mineral wool based insulation products like thermal and acoustic insulation in the residential and commercial buildings and rising need for heat insulation in the industrial applications to avoid heat loss and save energy. According to the National Insulation Association, in the 2018 investigation results, and compounding the forecast for 2019 and 2020, the mechanical insulation industry is projected to reach $12.4 billion in 2020. Moreover, rising concerns pertaining to energy conservation in buildings coupled with rising electricity costs have necessitated the mineral wool material market demand in residential, commercial and industrial buildings. According to the study, about $171 million can be saved for United States consumers each year if all homes included an Energy Star-compliant furnace. Similarly, the country would experience a decrease in the emission of greenhouse gases equal to that of emissions from 177,000 cars. However, Limited awareness regarding green building norms acts as a major restraint for the mineral wool material market growth.
Mineral Wool Material Market Regional Analysis –
North America is dominating the mineral wool material market due to in rising in demand for constant monitoring of networks, rising demand for construction and building sector in this region. According to U.S. Bureau of labor statistics in 2019, approximately 145,000 business and government agencies, representing approximately 697,000 individual worksites are being registered every month in the United States which is responsible factors for the growth of mineral wool material required in the construction sites. Asia pacific region is expected to grow at faster rate due to increasing research & development investment from manufacturing industry.
Key Benefits for Mineral Wool Material Market Reports –
By Regional & Country Analysis:
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Mineral Wool Material Market 2020 By Product (Rock Wool, Glass Wool), By Form (Board, Blankets, Panel, Others), By Application (Building & Construction, Industrial, Transportation, Others) Forecast to 2025