Mineral Wool Board Insulation Market Grow $28.52 Billion By 2032, CAGR: 6.0%

Mineral Wool Board Insulation Market Size Worth $28.52 Billion By 2032 | CAGR: 6.0%


The global mineral wool board insulation market size is expected to reach USD 28.52 billion by 2032, according to a new study by Polaris Market Research. The report “Mineral Wool Board Insulation Market Share, Size, Trends, Industry Analysis Report, By Type (Rock Wool, Glass Wool, Others); By Functionality; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The mineral wool board insulation market is anticipated to witness significant growth in the coming years, driven by its capacity to lower the need for heating and cooling. The growing concerns about limiting the use of power as a part of reducing greenhouse gas emissions by consumers are positively fueling the adoption of mineral wool board insulation. Based on the International Energy Agency report, the construction industry accounts for 1/4th of the global energy-related emissions and approximately 30% of the power utility.

The rising temperatures around the globe due to the significant uptick in global emissions necessitate the need for sustainable housing. According to the International Energy Agency, the number of households with heat, ventilation, and air conditioning (HVAC) units is expected to reach 5.7 billion by 2050, up from 2 billion currently. This is emphasizing governments and other organizations to encounter higher consumption of power by HVAC systems, optimally boosting the use of mineral wool board insulation.

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The growing demand for housing with rising urbanization at the global level is facilitating the need for the construction of energy-efficient buildings in the marketplace, driving the demand for mineral wool board insulation. According to the United Nations, the urban population is likely to reach 60% of the global population in 2030, up from 55% in 2018. This ongoing trend is likely to drive governments to focus on the construction of new dwellings, fueling the demand for mineral wool board insulation.

The significant rise in population, specifically in India and China, is likely to provide enormous demand opportunities for mineral wool board insulation over the study period. According to the Confederation of Real Estate Developers’ Associations of India (CREDAI), in 2024, the housing demand in India is anticipated to meet 93 million units in multiple tier II and III cities by 2036. As the global population is likely to grow to a certain extent, there will be a huge demand for dwellings, primarily sustainable housing, as most of the nations are working towards a net zero emission target.

Mineral Wool Board Insulation Market Report Highlights

  • The thermal insulation segment held the largest share owing to the growing efforts by individuals and businesses to mitigate rising energy costs.
  • Residential segment dominated the market due to the increasing use of power for HVAC systems.
  • APAC is projected to register the fastest growth during the forecast period, attributable to rising government initiatives to lower emissions.
  • The global players include Acoustical Surfaces, Inc., Guardian Fiberglass, Hodgson & Hodgson, Hush Acoustics, Johns Manville Inc., & Owens Corning.

Polaris Market Research has segmented the mineral wool board insulation market report based on type, functionality, application and region:

Mineral Wool Board Insulation, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Rock Wool
  • Glass Wool
  • Others

Mineral Wool Board Insulation, Functionality Outlook (Revenue - USD Billion, 2019 - 2032)

  • Thermal Insulation
  • Acoustic Insulation
  • Others

Mineral Wool Board Insulation, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Industrial
  • Commercial
  • Residential
  • Others

Mineral Wool Board Insulation, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Argentina
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Mineral Wool Board Insulation Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 17.82 billion

Revenue forecast in 2032

USD 28.52 billion

CAGR

6.0% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

  • By Type
  • By Functionality
  • By Application
  • By Region

Regional scope

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Competitive Landscape

  • Mineral Wool Board Insulation Market Share Analysis (2023)
  • Company Profiles/Industry participants profiling includes company overview, financial information, product/service benchmarking, and recent developments

Report Format

  • PDF + Excel

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

For Specific Research Requirements

Request for Customized Report