The global mineral wool board insulation market is likely to grow at a significant rate over the forecast period. Mineral wool or in other words man-made mineral fibers are made from natural and synthetic minerals including ceramic fibers, fiberglass and stone wool. Mineral wool can be used in filtration, germination of seedlings, thermal insulation and soundproofing. When the mineral wool is compressed into thin films they become excellent heat insulators which are very beneficial in automotive industries. Properties such as low thermal conductivity and storage of heat make it very reliable for thermal shock resistant. In addition it has refractory properties which can be utilized in machining capabilities. Products of mineral wool can range from loose materials used in injection insulation of slabs for walls, cavity in walls to face pipe and preformed sections. The rise in concern to save energy and acoustic insulation in construction, automotive and other industries is expected to drive the market growth for mineral wool. During the manufacturing of mineral wool very little amount of waste is deposited which is expected to drive the market as well as acts as an opportunity for expanding the usage of mineral wool in industries. Alternative raw materials usage during the manufacturing of mineral wool is expected to gain environmental credentials which will be beneficial to the market growth for mineral wool.
Various application include gasketing, water and boiler linings used in combustion areas, heat shielding, pipe insulation, fire protection, support insulation for castables and brick, flue liners, burner assemblies, industrial and kiln furnace linings, and nozzles which can be used any place where insulation from high temperature is prior requirement. Asia Pacific is expected to dominate the mineral wool board insulation market in terms of consumption due to the growth in automobile and fire-protection market. However U.S and Europe is expected to show significant opportunities for the market due to favorable regulations for the product from the government.
Key players of mineral wool board insulation market include Aislantes Minerales, S.A. de C.V, Armstrong, Industrial Insulation Group, LLC., CertainTeed Corp., Guardian Fiberglass, Inc., Johns Manville, Owens Corning, Rock Wool Manufacturing Co., Roxul Inc., Thermafiber, Inc. and USG Interiors, Inc.
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The global construction industry once booming due to the residential and commercial construction in China and the U.S., has been affected by the suspension of the construction activities across the impacted economies. The construction industry in the U.S. is expected to take a major hit due to labor shortages and the lockdown imposed by the government during COVID-19, which is expected to be aggravated by the resulting supply chain issues and financing pressures due to the non-adherence to the completion times. The report will account for Covid19 as a key market contributor.