According to the research report titled ‘Global Mineral Wool Material Market Size By Product (Rock Wool, Glass Wool), By Form (Board, Blankets, Panel), By Application (Building & Construction, Industrial, Transportation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report, global mineral wool material market valuation is projected to reach USD 22.5 billion by the year 2026.
 

Report findings state that mounting demand for acoustic and thermal insulation as well as increasing product use as a standard insulation material in high temperature applications are stimulating worldwide mineral wool material market growth.
 

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Characteristics such as acoustic insulation and fire-resistance as well as environment-friendly nature of the product will further boost industry remuneration. Chemical inertness, impact resistance, and strength exhibited by mineral wool material will also create numerous growth opportunities in industrial, automotive, and construction sectors.
 

Despite the positive industry outlook, easy availability of alternatives, and lack of awareness about green building norms are likely to impede market progression over the forthcoming years.
 

Based on product type fragmentation of global mineral wool material market, rock wool segment is touted to grow at a substantial pace over the forecast period 2019-2026. This can be attributed to mounting demand for eco-friendly materials in automotive, industrial, and construction sectors, in consort with product recyclability, sustainable manufacturing process, and low production costs.
 

Considering form type, the blanket form segment is projected to witness considerable growth over the next 5 years. This is credited to government investments in industrial and commercial projects for thermal/acoustic insulation, and increasing R&D activities undertaken by leading companies to enhance ease of installation, and rising product adoption in the industrial sector.
 

Moving on to application spectrum, the industrial segment share is poised to expand significantly over 2019-2026, due to widespread usage of product for moisture control, mold resistance, acoustical control, and fire resistance.
 

On the regional front, APAC mineral wool material market is estimated to register notable gains over the assessment timeframe, mainly due to expanding industrial and construction verticals. Moreover, countries like Japan, China, India, and Australia are also incorporating efficient energy design standards in commercial, residential, and green buildings, which is further contributing to regional market growth.
 

Prominent players in the industry space include Owens Corning, Maghard Insulators Pvt. Ltd., Metecno Group, Jamshedpur Mineral Wool Mfg. Co. Pvt. Ltd., Dhanbad Rock wool Insulation Pvt. Ltd., Shree Ram Equitech Pvt. Ltd., Punjstar Industries Pvt. Ltd., Minwool Rock Fibres Ltd., Goenka Rockwool (India) Pvt. Ltd., Polybond Insulation Pvt. Ltd, Gyptech Systems Pvt. Ltd., Compagnie de Saint-Gobain S.A., Lloyd Insulations (India) Ltd., U.P. Twiga Fiberglass Ltd., Armacell GmbH, and Knauf Insulation Inc.