Market Size of Mineral Wool Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 18.46 Billion |
| Market Size (2029) | USD 24.97 Billion |
| CAGR (2024 - 2029) | 6.23 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mineral Wool Market Analysis
The Mineral Wool Market size is estimated at USD 18.46 billion in 2024, and is expected to reach USD 24.97 billion by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).
The COVID-19 pandemic hindered the market because lockdowns, social distances, and trade sanctions caused significant disruptions to global supply chain networks. The construction industry has witnessed a decline due to the halt in activities. However, the condition recovered in 2021, which was expected to benefit the market during the forecast period.
- The major factors driving the market are the growing building and construction industry and regulatory support to increase energy efficiency.
- Health hazards related to mineral wool and the availability of cheap insulating materials are the factors that may slow down the market.
- The increasing number of power plants in Asia-Pacific and the recyclability of glass mineral wool are the major opportunities to drive the market in the future.
- Asia-Pacific is expected to dominate the global market due to government investments in construction activities, leading to a huge demand for mineral wool from countries such as China, Japan, and India.
