According to the report published by Allied Market Research, the global mineral wool market was estimated at $9.9 billion in 2018 and is expected to hit $16.0 billion by 2026, registering a CAGR of 6.3% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning stratagems, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
Rise in preference for energy efficient building and increase in adoption of mineral wool in vehicle systems drive the growth of the global mineral wool market. On the other hand, dearth of awareness on insulation products hampers the growth to some extent. However, development of concept like zero energy building is expected to pave the way for multiple opportunities in the near future.By type, the glass wool segment contributed to nearly three-fifths of the total market revenue in 2018, and is anticipated to rule the roost by the end of 2026. The rock wool segment, on the other hand, is projected to register the fastest CAGR of 6.7% throughout the study period.
The building & construction segment to lead the trail-
By end-user industry, the building & construction segment accounted for more than half of the total market revenue in 2018, and is expected to maintain the top status till 2026. Simultaneously, the transportation segment would manifest the fastest CAGR of 6.9% during the estimated period. The industrial & appliances segment is also discussed in the report.Asia-Pacific to maintain the lion’s share in terms of revenue-
By geography, Asia-Pacific garnered the major share in 2018, holding more than one-third of the global market. The region is also predicted to portray the fastest CAGR of 7.4% from 2019 to 2026. The other provinces analyzed in the report include North America, Europe, and LAMEA.
Frontrunners in the industry-
The key market players analyzed in the global mineral wool market report include IZOCAM, URSA Insulation S.A., John Manville, TechnoNICOL, Compagnie de Saint-Gobain S.A., Korff Isolmatic GmbH, Owens Corning, Poly Glass Fibre Insulation, Knauf Insulation, and Rockwool International A/S. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to substantiate their status in the industry.Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.