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The global Mineral Wool Market Growth Accelerated by Rise in Construction Activities

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The global Mineral Wool Market Growth Accelerated by Rise in Construction Activities

Mineral wool is a thermal insulation material made from rock, slag or glass that are spun or blew into fibers. It is widely used as building insulation and fire-protection because of its heat resistance, fire resistance, moisture resistance and durability. Mineral wool products such as mineral wool boards and mineral wool rolls are easy to install and help reduce energy costs by improving a building's thermal performance.


The global Mineral Wool Market is estimated to be valued at US$ 17616.87 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rise in construction activities across the globe is expected to drive the growth of the mineral wool market over the forecast period. According to the Global Construction 2030 report, the global construction output is projected to grow by 85% to $15.5 trillion by 2030.Moreover, stringent energy efficiency regulations regarding green building codes and norms are compelling builders to use energy efficient construction materials like mineral wool for insulation. For instance, European Union's Energy Performance of Buildings Directive makes it mandatory for all new buildings to be nearly zero-energy by 2021. This is augmenting the demand for mineral wool from the construction industry.

Segment Analysis

The global mineral wool market is segmented by type into stone wool and glass wool. The stone wool segment is expected to dominate the market during the forecast period. Stone wool provides superior fire resistance and better acoustic insulation as compared to glass wool. It has higher melting points that make it more durable than glass wool.

Key Takeaways

The global mineral wool market is expected to witness high growth during the forecast period of 2023 to 2030. Global Mineral Wool Market Size is estimated to be valued at US$ 17616.87 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.

Regional analysis: North America region is projected to grow at the highest CAGR during the forecast period. This is attributed to increasing construction activities and growing demand from industrial and commercial sectors for insulation materials in the region. Europe currently holds the largest share in the global mineral wool market due to stringent building energy codes supporting insulation materials usage.

Key players: Key players operating in the mineral wool market are Bet365, Flutter Entertainment, GVC Holdings, and 888 Holdings. Bet365 is the global leader in online betting and gaming, while Flutter Entertainment owns renowned brands like Paddy Power, Betfair, and Adjarabet. GVC Holdings operates popular online betting brands such as bwin, Sportingbet, and partypoker. 888 Holdings is a well-known online gaming solutions provider present across several geographical regions. These key players are focusing on new product launches and strategic partnerships to strengthen their market position.


Get More Insights on this Topic- https://www.rapidwebwire.com/mineral-wool-market-size-share-and-demand-analysis/ 


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