Slag Wool Market - Forecast(2024 - 2030)

Report Code: CMR 38987 Report Format: PDF + Excel

Slag Wool Market Overview

Slag Wool Market size is forecast to reach US$505.5 million by 2027, after growing at a CAGR of 3.4% during the forecast period 2022-2027. The slag wool has superior beneficial properties including highly recyclable, superior fire-resistant properties, superior inner insulation and others. These properties result in surging adoption of slag wool over other insulating materials such as polystyrene, glass fiber, aerogel, and more. The global slag wool market is primarily driven by the growth of building and construction activities across the world. Moreover, the growing oil and gas industry is anticipated to drive the demand for slag wool. This, in turn, will accelerate the slag wool market growth in the projected forecast period of 2022-2027. However, in 2020, the Covid-19 pandemic negatively impacted the growth of the global wool market. In 2021, the government eased the lockdown measures. As a result, the construction, oil & gas, and other industries flourished, which benefited the slag wool market. 

Report Coverage 

The report: "Slag Wool Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Slag Wool Market. 

By Product: Board, Loose, and Others 
By Application: Structural Insulation (Wall, Roof, Boiler, Tower and Columns, and Others), Foundation Drainage Systems, Fire Stopping and Containment, Acoustical, Emissions Control, Pipe/Mechanical Systems, Fillers, Turbines, Pressure Vessels, and Others 
By End-Use Industry: Building and Construction (Residential, Commercial, and Industrial), Paper and Pulp, Steel, Oil and Gas, Wind Energy, and Others 
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa)) 

Key Takeaways 

  • Asia-Pacific region dominated the global slag wool market, owing to the growing industrial construction activities in the region, for instance, in January 2022, the Ha Noi People's Committee recently issued Decision No. 65/QD-UBND, which approved the project establishment of 2-5 new industrial zones in the period 2021-2025. 
  • The increasing construction activities related to green building is accelerating the demand for eco-friendly insulation solution. Since slag wool is an eco-friendly product, its demand is surging and is benefiting the market growth. 
  • Moreover, the ongoing research and development associated with slag wool usage in production activities will create an opportunity for market growth in the projected forecast period. 
  • Nonetheless, the availability of substitute products of slag wool such as glass wool, stone wool, and more are likely to hamper the market growth in the upcoming years.

Figure: Asia-Pacific Slag Wool Market Revenue, 2021-2027 (US$ Million)


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Slag Wool Market Segment Analysis – By Application 

The structural insulation segment held the largest share in the global slag wool market in 2021 and is forecasted to grow at a CAGR of 3.7% during the forecast period 2022-27. Slag wool insulation resists settling, and batt products rebound back after normal compression, ensuring that the product's installed thermal performance is maintained for the life of the product. Thermal efficiency is a key factor in considering an insulation product. As a result, the insulation application of slag wool contributes to the structure's long-term viability by protecting it against moisture and fire damage. Furthermore, slag wool insulation has a higher density than most other insulation products, enabling it to reach higher R-values (insulation values) in a normal wall cavity. Thus, to protect the structure from fire, the application of structural insulation is surging, which is accelerating the growth of the market.

Slag Wool Market Segment Analysis – By End-Use Industry 

The building and construction segment held the largest share in the global slag wool market in 2021 and is forecasted to grow at a CAGR of 4.1% during the forecast period 2022-27. In building and construction, slag wool is utilized to provide pipe insulation, structure insulation, and other types of insulation. The higher density and superior fire-resistant properties of slag wool make them ideal for building and construction. The key factors such as the increasing development of the urban sector, government initiatives, and more are propelling the growth of the building and construction industry. For instance, according to the German Federal Statistics Office, In 2020, Germany's residential and non-residential building and construction activities were 232,208 units, an increase of 4.3% over 2019. Moreover, in September 2020, the French government passed the “France Relance” plan of €100 billion (US$118.13 billion) to strengthen the construction and building industry. Hence, the growth of the building and construction industry is fueling the demand for slag wool, which, in turn, is aiding the market growth. 

Slag Wool Market Segment Analysis – By Geography 

The Asia-Pacific region is the dominating region as it holds the largest share in the global slag wool market in 2021 up to 41%. The key industries of the Asia-Pacific region are building and construction, oil & gas, and more. Factors such as the development of new industrial zones, construction projects, and more are expanding the growth of the building and construction industry in the Asia-Pacific region. For instance, the city of Hai Phong, Vietnam is building 15 new industrial parks with a total area of more than 6,400 hectares between 2021 and 2025. In addition, Hai Phong has approved seven housing projects for workers. The overall area is more than 20.7 hectares, with over 4,555 apartments, as of November 2021, two projects have been completed and five more are under construction. Moreover, according to Invest India, there is a total of 115 future construction projects which are under the planning phase in India, and the value of these projects is about US$11.63 million. These projects include the construction of hotels, office-buildings, shopping complex, and more. Therefore, the growth of the building and construction industry in Asia-pacific is anticipated to boost the demand for slag wool. As a result, the market will grow in the projected forecast period. 

Slag Wool Market Drivers 

Surging Green Building Initiatives 

Slag wool is used in green building construction because about 70% of the material used during the manufacturing of slag wool is recyclable and it is highly insulated. Green buildings are more energy efficient as they produce lower greenhouse gas emissions as opposed to conventional buildings. These properties are driving demand in multiple regions, due to which government initiatives are been adopted across various regions to promote green buildings. For instance, in January 2021, the government of the United Kingdom set tight standards for the green construction revolution, requiring all homes and businesses in the country to meet stringent new energy efficiency regulations to minimize energy use and costs. Also, the Rajasthan Investment Promotion Scheme - 2019, (India) provides MSME enterprises with a subsidy in the form of reimbursement of 50% of the amount paid to suppliers for the plant, excluding civil work, for adopting Green Building Measures for buildings with a minimum floor space of 2,000 sq meters. Thus, such initiatives in the development of green buildings are fueling the growth of the global slag wool market. 

Increasing Research and Development Related to Slag Wool 

The slag wool manufacturers all across the world are adopting slag wool for their ongoing research and development related to their insulation production. For instance, in February 2021, Yidu Huiren Environmental Protection Tech Co LTD invented a light building board that is energy efficient and environmentally friendly. Slag wool is used to fill the rectangular groove. Moreover, in March 2020, Henan Yuexin Steel Structure Eng Co Ltd created a new energy-saving and environmentally friendly composite board. A lower-end iron plate supporting layer, a mineral wool connecting layer on the upper surface of the lower-end iron plate supporting layer, and a first connecting net on the top surface of the slag wool connecting layer are all part of the device. 

Slag Wool Market Challenges 

Availability of Substitute Products 

The slag wool has superior insulation and heat resistance properties. However, the availability of the substitute products such as glass wool, stone wool, and more is hindering the growth of the market. The use of glass wool enables higher energy efficiency of the building structure, owing to this its adoption is increasing over slag wool. Moreover, in comparison with slag wool, stone wool has superior properties such as thermal protection, sound absorbency, and more. Moreover, the cost of slag wool is higher than stone and glass wool. Thus, the availability of various substitute products in the market is limiting the global slag wool market growth. 

Slag Wool Industry Outlook 

Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the global slag wool market. Global slag wool top10 companies are: 

  1. USG 
  2. Paroc 
  3. Hebei Huaneng Zhongtian 
  4. Changyi Jiayuan Jiancai 
  5. Hejian 100 keda Chemical 
  6. Shanghai Boda Insulation Materials 
  7. Beijing Huiteng Insulation Materials 
  8. Dachengxian Yichuan Insulation Materials 
  9. Dacheng Litanbei Insulation Materials 
  10. Shanghai Yannuo New Materials 

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1. Slag Wool Market- Market Overview
    1.1 Definitions and Scope
2. Slag Wool Market- Executive Summary 
    2.1 Key Trends by Product 
    2.2 Key Trends by Application 
    2.3 Key Trends by End-Use Industry 
    2.4 Key Trends by Geography
3. Slag Wool Market– Comparative analysis
    3.1 Market Share Analysis- Major Companies 
    3.2 Product Benchmarking- Major Companies 
    3.4 Top 5 Financials Analysis 
    3.5 Patent Analysis- Major Companies 
    3.6 Pricing Analysis (ASPs will be provided) 
4. Slag Wool Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis: 
        4.1.1 Investment 
        4.1.2 Revenue 
        4.1.3 Product portfolio 
        4.1.4 Venture Capital and Funding Scenario 
5. Slag Wool Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview 
    5.2 New Business and Ease of Doing Business Index 
    5.3 Successful Venture Profiles 
    5.4 Customer Analysis – Major companies 
6. Slag Wool Market- Market Forces 
    6.1 Market Drivers 
    6.2 Market Constraints 
    6.3 Porters Five Force Model 
        6.3.1 Bargaining Power of Suppliers 
        6.3.2 Bargaining Powers of Buyers 
        6.3.3 Threat of New Entrants 
        6.3.4 Competitive Rivalry 
        6.3.5 Threat of Substitutes
7. Slag Wool Market– Strategic Analysis 
    7.1 Value/Supply Chain Analysis 
    7.2 Opportunity Analysis 
    7.3 Product/Market Life Cycle 
    7.4 Distributor Analysis – Major Companies 
8. Slag Wool Market-By Product (Market Size –US$ Million/Billion) 
    8.1 Board 
    8.2 Loose 
    8.3 Others 
9. Slag Wool Market-By Application (Market Size –US$ Million/Billion) 
    9.1 Structural Insulation 
        9.1.1 Wall 
        9.1.2 Roof 
        9.1.3 Boiler 
        9.1.4 Tower and Columns 
        9.1.5 Others 
    9.2 Foundation Drainage Systems 
    9.3 Fire Stopping and Containment 
    9.4 Acoustical
    9.5 Emissions Control 
    9.6 Pipe/Mechanical Systems 
    9.7 Fillers 
    9.8 Turbines 
    9.9 Pressure Vessels 
    9.10 Others 
10. Slag Wool Market-By End-Use Industry (Market Size -US$ Million/Billion) 
    10.1 Building and Construction 
        10.1.1 Residential 
        10.1.2 Commercial 
        10.1.3 Industrial 
    10.2 Paper and Pulp 
    10.3 Steel 
    10.4 Oil and Gas 
    10.5 Wind Energy 
    10.6 Others
11. Slag Wool Market-By Geography (Market Size -US$ Million/Billion) 
    11.1 North America 
        11.1.1 USA 
        11.1.2 Canada 
        11.1.3 Mexico 
    11.2 Europe 
        11.2.1 UK 
        11.2.2 Germany 
        11.2.3 France 
        11.2.4 Italy 
        11.2.5 Netherlands 
        11.2.6 Spain 
        11.2.7 Russia 
        11.2.8 Belgium 
        11.2.9 Rest of Europe 
    11.3 Asia-Pacific 
        11.3.1 China 
        11.3.2 Japan 
        11.3.3 India 
        11.3.4 South Korea 
        11.3.5 Australia and New Zealand 
        11.3.6 Indonesia 
        11.3.7 Taiwan 
        11.3.8 Malaysia 
        11.3.9 Rest of APAC 
    11.4 South America 
        11.4.1 Brazil 
        11.4.2 Argentina 
        11.4.3 Colombia 
        11.4.4 Chile 
        11.4.5 Rest of South America 
    11.5 Rest of the World 
        11.5.1 Middle East 
            11.5.1.1 Saudi Arabia 
            11.5.1.2 UAE 
            11.5.1.3 Israel 
            11.5.1.4 Rest of Middle East 
        11.5.2 Africa 
            11.5.2.1 South Africa 
            11.5.2.2 Nigeria 
            11.5.2.3 Rest of Africa 
12. Slag Wool Market – Entropy
    12.1 New Product Launches 
    12.2 M&As, Collaborations, JVs and Partnerships 
13. Slag Wool Market–Industry / Segment Competition landscape Premium Premium 
    13.1 Company Benchmarking Matrix – Major Companies 
    13.2 Market Share at Global Level - Major companies 
    13.3 Market Share by Key Region - Major companies 
    13.4 Market Share by Key Country - Major companies 
    13.5 Market Share by Key Application - Major companies 
    13.6 Market Share by Key Product Type/Product category- Major companies 
14. Slag Wool Market – Key Company List by Country Premium Premium 
15. Slag Wool Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments 
    15.1 Company 1 
    15.2 Company 2 
    15.3 Company 3 
    15.4 Company 4 
    15.5 Company 5 
    15.6 Company 6 
    15.7 Company 7 
    15.8 Company 8 
    15.9 Company 9 
    15.10 Company 10 and more 
"*Financials would be provided on a best efforts basis for private companies*"

LIST OF TABLES

1.Global Slag Wool Market, by Type Market 2023-2030 ($M)
2.Global Slag Wool Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global Slag Wool Market, by Type Market 2023-2030 (Volume/Units)
4.Global Slag Wool Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America Slag Wool Market, by Type Market 2023-2030 ($M)
6.North America Slag Wool Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America Slag Wool Market, by Type Market 2023-2030 ($M)
8.South America Slag Wool Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe Slag Wool Market, by Type Market 2023-2030 ($M)
10.Europe Slag Wool Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC Slag Wool Market, by Type Market 2023-2030 ($M)
12.APAC Slag Wool Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA Slag Wool Market, by Type Market 2023-2030 ($M)
14.MENA Slag Wool Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)

LIST OF FIGURES

1.US Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
2.Canada Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
3.Mexico Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
4.Brazil Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
5.Argentina Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
6.Peru Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
7.Colombia Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
8.Chile Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
10.UK Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
11.Germany Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
12.France Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
13.Italy Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
14.Spain Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
16.China Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
17.India Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
18.Japan Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
19.South Korea Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
20.South Africa Global Slag Wool Industry Market Revenue, 2023-2030 ($M)
21.North America Global Slag Wool Industry By Application
22.South America Global Slag Wool Industry By Application
23.Europe Global Slag Wool Industry By Application
24.APAC Global Slag Wool Industry By Application
25.MENA Global Slag Wool Industry By Application