Mineral Wool Material Market 2021 By Product, Form, Application & Forecast 2021 To 2027

Mineral Wool Material Market 2021 By Product, Form, Application & Forecast 2021 To 2027

By 2027, the global mineral wool material market size will have crossed over $4.5 billion. U.P. Twiga Fiberglass Limited, Knauf Insulation, Lloyd Insulations (India) Limited, Gyptech Systems Pvt. Ltd., Rockwool, and Saint Gobain India Pvt. Ltd. are some top mineral wool companies in the international landscape. Industry players have been launching more sustainable range of products, often aimed at reducing installation and maintenance time and costs.

Thanks to the robust revival of the construction sector since the outbreak of the COVID-19 pandemic, the global mineral wool material market forecast appears to be strong, replete with new growth prospects. The growing number of smart city projects worldwide is generating opportunities for market players, who have been launching more efficient products to cater to the changing focus of end-users.

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According to some experts, city residents are likely to look for functional features rather than flashy ones over the upcoming decade. A recent survey consisting of residents from across 118 global cities reveals that the top priorities of participants included affordable housing, health services, and employment, suggesting the role of non-tech solutions such as mineral wool products in improving their lifestyles. Since mineral wool is fire-resistant, noise-proof, easy to handle, and affordable, it is increasingly being used across construction applications as an insulation material.

Growing infrastructure funding across U.S. to push market expansion

With the U.S. government accelerating investments toward transportation and infrastructure, the expenditure toward superior insulation solutions is expected to grow. In November 2021, the Biden government introduced the long-anticipated infrastructure bill worth $1 trillion, which includes $550 billion toward transportation sector. Over the next five years, the bill will support smart city projects, which will be able to pay for smart traffic sensors, commerce delivery, and logistics solutions.

U.S. mineral wool market share is expanding at a steady pace, owing to the surging consumption across the construction and building sector. These products keep the building cooler or warmer than exterior environment, making it an excellent insulator. Because of the persistent threat of fire accidents, building contractors have been preferring the use of these products, which are not only fire-resistant, but also act as extraordinary acoustic dampener for buildings where noise is a major concern.

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Mineral wool usage to accelerate across HVAC applications in North America

Mineral wool insulation industry in North America is gaining traction, driven by the increasing use of mineral wool in the piping industry. The thermal insulation properties of mineral wool ensure that pipes do not freeze in cold weather conditions and can transport high-temperature materials efficiently.

As these materials are being deployed by numerous HVAC companies for delivering effective cooling and heating solutions, North America mineral wool material market is slated for a stable expansion.

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