The mineral wool market is anticipated to grow as the use of this insulating material increases in the building and construction sector. Mineral wool is one of the building materials that is most closely scrutinised, according to the European Insulation Manufacturers Association (EIMA). Around 1,000 studies were carried out over the past 50 years by well-known experts in the US and Europe to guarantee the safety of the material for use in all projects. Regulations that support the growth of energy efficiency are being implemented more frequently. For instance, the European Commission adopted a set of recommendations to change the energy, transportation, taxes, and climate policies in order to cut net greenhouse gas emissions by at least 55% by 2030 when compared to 1990 levels. The expansion of power plants in Asia Pacific is anticipated to open up significant market growth potential. The market is anticipated to see considerable development prospects due to the recyclable nature of glass mineral wools. New product launches are anticipated to be a significant market trend.
According to Coherent Market Insights, The market for Mineral Wool was valued at US$ 15,661.22 Million in 2021 and is anticipated to grow at a 6.6% CAGR from 2022 to 2030 to reach US$ 25670 Mn.
Leading Companies in the Mineral Wool Industry:
1. Byucksan
The business was founded in 1958 and is located in South Korea. Building materials for the interior, exterior, flooring, insulation, and internal and external spaces are produced and sold by Byucksan Corporation. Products from the company offer noise reduction, insulation, and fire protection.
2. Isover
The company was established in 1878 and is based in Ludwigshafen, Germany. Building better structures for people and the environment is important to Saint-Gobain brand ISOVER. It develops, produces, and sells environmentally friendly and effective mineral wool solutions for thermal, acoustic, and fire insulation. Saint-Gobain and Dalsan received the required authorisation from the competition authorities in March 2023 to combine their plaster and plasterboard operations in Turkey.
3. Johns Manville
The company was established in 1858 and is located in Denver, Colorado, United States. The Business produces insulation and building goods and sells fibres and nonwoven mats, commercial and industrial roofing systems, and filtering media. In February 2022, DynaSet 1K Moisture-curing Adhesive and 1-Part PermaFlash® Liquid-applied Flashing will be available, according to Johns Manville. The new VVSD Spiracoustic plus Duct Liner for 6-8" Ducts from Johns Manville was introduced in October 2020.
4. Knauf Insulation
The firm was founded in 2002 and is based in Vise, Belgium. Insulation is created and sold by Knauf Insulation Ltd. For businesses in the building and construction sectors, the company produces glass, rock mineral wool, and extruded polystyrene insulation products. The glass mineral wool with ECOSE® from KNAUF Insulation is certified to be Red List-free as of May 2021.
5. Owens Corning
The company was established in 1938 and is based in Toledo, Ohio, United States. The business creates and manufactures materials and goods linked to insulation, roofing, fibreglass composites, and other industries. Owens Corning announced in 2022 that it had successfully acquired Natural Polymers, LLC. The business declared in 2022 that it had successfully acquired WearDeck®, an elite composite decking and structural timber manufacturer situated in Ocala, Florida.
6. Rockwool International AS
With its corporate headquarters in Denmark, the company was founded in 1909. Stone wool is a fibre formed from molten volcanic rock, and ROCKWOOL A/S develops and manufactures stone wool as well as stone-wool-based products for insulation, fire protection, and noise and vibration management. The business is happy to announce that it has been selected as HGTV Canada's official insulation supplier as of January 2020.
7. Kingspan Group
The company was established in 1966 and has its headquarters in Kings Court, Ireland. In terms of high performance insulation and building envelope technology, Kingspan Group PLC is a major player on the international market. The King span Group and the Mercedes F1 team agreed to a sponsorship agreement on December 1, 2021. Kingspan received a spot on the CDP A List for Climate Change Efforts in January 2020.
*Definition: Considering that mineral wool has an open cell structure, it has a low thermal conductivity. Drawing or spinning molten rock results in the creation of this fibrous substance.
