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Mineral wool is a thermal insulation developed by melting Calcium-silicate minerals at high temperatures (1600 ° C) and has a variety of options accessible for fire protection, thermal insulation, sound absorption, hot storage and cooling, but even for agricultural purposes. Mineral bonded wool consists of wool fibres, cement and water binder, caustic magnesium sulphate and limestone. Mineral bound wood panels have been used in a large range of applications, e.g. thermal insulation, indoor decoration, acoustic insulation, etc.
The market is driven by an growing appetite in the construction industry. The key factors that drive market growth are the growing demand for mineral wool-based thermal insulation and acoustic insulation in residential buildings and the demand for thermal mass for commercial processes to prevent heat loss and conserve energy. However, the lack of understanding among residential end-users and the limited inventory of plasterboard waste disposal facilities are likely to impede market development.
Based on the type, the market is classified into stone wool and slag wool. Based on the application the market is classified into entertainment room, hotel, assembly room, building and construction, industrial and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Market Driver -
Increasing application in construction sector drives the market.
Key Market Restraint -
Lack of awareness among the manufacturers will restrict the market growth.
The global mineral wool acoustic board market is fairly fragmented, with number of players operating in the global markets. Some of the key players in the global mineral wool acoustic board market includes Polyglass SPA, BuzziSpace, ISOVER, Eurocoustic, Four Design, ETERNO IVICA SRL, Heradesign, WEISS, CELENIT, Lindab AND OTHERS.
The global mineral wool acoustic boardmarket has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market is dominated by the Asia Pacific Ocean. With the advent of emerging economies and increasing awareness of people and high disposable incomes there is an increase in investment in construction sector. Lower cost of production have created an opportunity for emerging companies to expand their processing plants in the Asia-Pacific region, especially in developing countries. North America holds a significant market share. Increasing awareness, along with increasing people's spending power in the US and Canada, has driven market growth in the North American regions. Mineral wool has gained attention due to its excellent properties, such as its potential to provide thermal and acoustic protection in residential and commercial buildings as well as in commercial processes. As a result, these fibers adequately solve the specifications for acoustic insulation in diverse products and henceforth give rise to market development. Attributed to the combination of many manufacturing bases in the region, Europe has a large market share. The Middle East and the African region will be among the huge developments in regional industrialization, especially in the development of manufacturing facilities attributed to the prevalence of major manufacturing bases in these regions. Latin America is showing slow growth due to government interference
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