Mineral Wool Materials Market Size is Expected to Reach USD 19.88 Billion by 2027 According to Reports and Data
Rapid industrialization and growing need for energy saving in the building and construction sector are driving the growth of the market.
NEW YORK, NEW YORK, USA, January 22, 2022 /EINPresswire.com/ — The Global Mineral Wool Materials Market Size is expected to reach $19.88 billion by 2027, according to a new report from Reports and Data. Mineral wool acts as a thermal insulator in automotive industries; therefore, the rapid growth of the automotive sector worldwide is expected to sustain the demand for mineral wool in the coming years. It provides thermal, structural and pipe insulation. They are also used in soundproofing, filtration and hydroponic growing medium. The demand from various end users is expected to drive the growth of the market in the coming years.
The rising trend of energy efficient insulation is expected to propel the mineral wool market in the future. Additionally, growing demand from end-user industries such as industrial, building & construction, and transportation is expected to drive the mineral wool market growth in the coming years. However, lack of awareness can stunt growth. However, rising demand from emerging economies and growth in end-user applications could provide a range of opportunities to the market over the forecast period.
North America is expected to experience lucrative growth over the next few years due to the growth in the construction industry. The escalation of investments in Europe by major automobile manufacturers, along with the growth of the automotive OEM market, is expected to boost the mineral wool market in the coming years.
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Companies considered and profiled in this market study:
Rockwool International, Guardian Fiberglass, Owens Corning, CertainTeed Corporation, Industrial Insulation Group, Johns Manville, Knauf Insulation GmbH, Multisorb Technologies, Paroc, Uralita SA, among others.
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The global mineral wool materials market research is carried out at various stages of the business life cycle, from production of a product, cost, launch, application, consumption volume, and sale. The research offers valuable insights into the market from the start, including solid business plans made by prominent market leaders to establish a solid position and develop their products into a better one than the rest.
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