Glass Wool Insulation Market Key Findings by 2031
MARKET ANALYSIS
Glass wool is manufactured from borosilicate glass and consists of components such as silica sand, fixing agents, and recycled glass. Glass wool insulation is a highly used material for insulating piping and soundproofing. Glass wool insulation for roofs is highly useful for metal buildings and is mainly used to fill empty spaces on the walls or roofs. Moreover, these blankets upholster the building’s interior appearance and improve overall architecture and design.
GROWTH DRIVERS AND CHALLENGES
Glass wool insulation is highly used in the construction industry as it is fire-resistant material, ideal for sealing uneven surfaces due to their compressibility. Also, it does not promote mold growth or pest infestation. India is one of the largest construction markets globally. In India, the growth in construction activities is driven by continuing industrialization, urbanization, increasing population, growth in middle-class income, and the increase in infrastructural developments. The construction industry is the best prospect industry sector for Mexico. The Mexican construction industry is growing due to economic growth and public investment in infrastructure projects. In 2021 and 2021, President López Obrador and private sector representatives announced multiple projects as part of the nation’s infrastructure plan. Mexico is also moving rapidly towards green and environmentally-friendly construction activities. The construction industry in the country has embraced the green building movement. Further, in Brazil, the construction sector is a key contributor to gross domestic product (GDP) growth. The construction market in Brazil offers key opportunities for foreign multinational companies expanding into Latin America. Hence, the strong growth of the construction industry in these developing countries is mainly driving the glass wool insulation market growth. However, glass wool insulation has a few disadvantages, this is expected to restrict glass wool insulation market growth during the forecast period. Glass wool is very irritating to the skin and eyes; therefore, gloves, masks, glasses, and protective clothing must be used during installation. It possesses a negative ecological balance, particularly due to its raw materials that are non-renewable. In addition, the sound resistance property of glass wool is limited to restrained value.
REPORT SEGMENTATION AND SCOPE
The "Global Glass Wool Insulation Market Analysis to 2031" is a specialized and in-depth study with a major focus on the global glass wool insulation market trends and growth opportunities. The report aims to provide an overview of the global glass wool insulation market with detailed market segmentation by form, end use, and geography. The global glass wool insulation market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of glass wool insulation worldwide, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the glass wool insulation market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the glass wool insulation market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative glass wool insulation market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global glass wool insulation market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global glass wool insulation market is segmented on the basis of form and end use. Based on form, the glass wool insulation market is segmented into, rolls, boards, and others. On the basis of end use, the market is classified as residential construction, commercial construction, transportation, HVAC, and others.
Based on form, the boards segment accounted for a significant glass wool insulation market share which can be attributed to increasing their use in residential and commercial construction. Glass wool insulation board is made from fibers of glass that are arranged using a binder into a texture similar to wool. Their air-trapping property makes it a bad conductor of heat, and hence it is highly used for thermal insulation in ducting, boilers, cavity walls, pipelines, etc. Based on end use, the commercial construction segment accounted for a significant glass wool insulation market share due to increasing demand from commercial construction sector. Glass wool insulation is highly used for workshops, warehouses, refrigerating chambers, gyms, exhibition centers, heat preservation sheds for cultivation; steel structure buildings, and various indoor entertainment places.
REGIONAL ANALYSIS
The report provides a detailed overview of the global glass wool insulation market with respect to five major regions, namely; North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific is estimated to account for a significant glass wool insulation market share globally. The strong growth of the residential, commercial, and transportation sectors in the region is mainly driving the glass wool insulation market growth. China is one of the major countries in the region that contributes mainly to the regional market growth. During the 14th Five-Year Plan (2021-2031) period, China has planned to add 6.5 million government-subsidized rental homes in 40 key cities to help an estimated 13 million people in need of affordable housing. To offer more comfort to the residents, about 219,000 old residential communities built before the end of 2000 in urban areas will be renovated by 2031. China also announced a plan to mend rickety rural homes or upgrade those in earthquake-prone rural areas, while the housing provident fund is expected to cover more people in the workforce. In India, Pradhan Mantri Awas Yojana (Urban) Mission launched in June 2015, which intends to provide housing for all in urban areas by the year 2022. Moreover, launched in 2015, the Smart Cities Mission aims to develop 100 cities in India with comprehensive infrastructure, including affordable housing and the use of technology to improve security and safety.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnerships, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global glass wool insulation market.
- In May 2023, Knauf Insulation UK & Ireland launched ‘OmniFit Slab 32’, a 32 lambda glass mineral wool insulation slab product for use in light steel frame systems (SFS).
- In January 2021, Owens Corning launched a next-gen fiberglass insulation product made by PureFiber Technology.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The covid-19 pandemic led to a decline in the progress of many industries across the globe. The shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for manufacturers across the globe. Glass wool insulation market experienced a slump during the pandemic owing to the limited construction activities across the globe. The COVID-19 pandemic has caused a delay in most ongoing construction projects and reduced the construction industry's productivity. Due to the reduced construction activities worldwide, the demand for glass wool insulation in different residential, commercial, industrial, and infrastructural applications has been reduced.
However, various industries have resumed their business operations. The previously postponed construction projects have resumed, creating demand for glass wool insulation products. With the resumption of different residential and commercial construction activities, the demand for glass wool insulation products is improving. The increasing use of glass wool insulation products in various applications is expected to offer more growth opportunities for the market.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the glass wool insulation market include Johns Manville; URSA; Arabian Fiberglass Insulation Company Ltd.; Owens Corning; Saint-Gobain; Knauf Insulation; Nippon Electric Glass Co.,Ltd.; CERTAINTEED; izocam A.Ş.; CSR Building Products Ltd; Refmon; Creative Building Solutions; Allied Insulation; SM Insulation; Unidus; Twiga; among others.
REGIONAL FRAMEWORKGlass Wool Insulation Market Report Analysis
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CAGR (2023 - 2031)XX% -
Market Size 2023
US$ XX Million -
Market Size 2031
US$ XX Million
Report Coverage
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Industry landscape and competition analysis & recent developments
- Detailed company profiles
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Key Players
- Alghanim Industries
- Bradford Insulation Industries Ltd
- Chez Knauf Insulation SPRL
- Compagnie de Saint Gobain
- Johns Manville Corporation
- Knauf Insulation
- Owens Corning
- PPG Industries
- Saint Gobain Isover
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Glass Wool Insulation Market Report Scope
Report Attribute | Details |
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Market size in 2023 | US$ XX Million |
Market Size by 2031 | US$ XX Million |
Global CAGR (2023 - 2031) | XX% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1. Alghanim Industries
2. Bradford Insulation Industries Ltd.
3. Chez Knauf Insulation SPRL
4. Compagnie de Saint-Gobain
5. Johns Manville Corporation
6. Knauf Insulation
7. Owens Corning
8. PPG Industries
9. Saint-Gobain Isover
10. URSA Insulation SA