Global Mineral Wool Market Size is Expected to Grow to $22.17 Billion by 2029

Global Mineral Wool Market Overview

According to Global Market Monitor, the global mineral wool market size was $13.93 billion in 2023 and is expected to grow to $22.17 billion by 2029. Mineral wool is a non-metallic, inorganic product manufactured from a carefully controlled mix of raw materials, mainly comprising either stone or silica which are heated to a high temperature until molten.

Market Drivers

In developing countries, with the development of the economy, the improvement of living standards, large population base, and a large amount of middle class are rising. The increase in disposable income has increased the demand for material life. In addition, due to the increase in economic standards, the number of construction buildings will increase, which will also promote the demand for the mineral wool market. With increasing concerns about environmental impact and the need for sustainable construction practices,there is a growing demand for insulation material. Mineral wool, which is made from natural or recycled materials, has gained prominence as a sustainable option in the construction industry. Mineral wool insulation, at the end of its life cycle or during renovation or demolition projects can be recycled and used to produce new mineral wool products.  The recycling capability reduces the reliance on virgin materials and minimizes waste sent to landfills.  The construction industry can contribute to the circular economy and reduce its environmental footprint, by embracing mineral wool as an insulation solution.

Key Players

Knauf Insulation GmbH is one of the major players operating in the Mineral Wool market, holding a share of 12.09% in 2023. Knauf Insulation is an international company owned by the Knauf family and is an important manufacturer of insulation products in the US and Europe. The company is a producer of insulation materials such as glass wool, stone wool, wood wool boards, EPS, XPS, as well as the Heradesign wood wool-based acoustic ceiling systems.

Company Name	Knauf Insulation GmbH
Website	www.knaufinsulation.com
Established Time	2002
Plants Distribution	US, European Union
Sales Region	Worldwide
Product Introduction	Like the Earthwool product range made from glass wool, the product is made with ECOSE® Technology and is safer and more environmentally friendly than traditional rock mineral wool made using formaldehyde.