The global Asbestos Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Type (Chrysotile, Amosite, Crocidolite, Anthophyllite, Tremolite, Actinolite), By Application (Building Materials, Electrical Insulation, Friction Products, Packaging, Gaskets, Others).
Asbestos is a naturally occurring mineral known for its heat resistance, fire resistance, and insulating properties, although its use has significantly declined due to health concerns in 2024. Asbestos has been widely used in various industries for its desirable properties, including construction, shipbuilding, automotive manufacturing, and insulation. However, prolonged exposure to asbestos fibers can lead to serious health risks, including lung cancer, mesothelioma, and asbestosis. As a result, the use of asbestos has been heavily regulated or banned in many countries, and efforts have been made to remove existing asbestos-containing materials from buildings and infrastructure. Despite its health risks, asbestos still exists in older structures and products, posing ongoing challenges for remediation and public health protection. Strict regulations and guidelines are in place to manage asbestos-containing materials safely and prevent exposure to workers and the public. With d awareness of the health risks associated with asbestos exposure, efforts to eliminate its use and mitigate its effects on human health and the environment remain a priority in many countries.
The market report analyses the leading companies in the industry including A.B.B. Lummus Global Inc, A.P. Green Industries, Abex Corp, Amatex Corp, Armstrong Contracting and Supply Corp, Armstrong World Industries, Babcock & Wilcox, Balaji Enterprises, Bell Asbestos Mines, Bestwall Gypsum, Borg Warner Company, Burnham Holdings, C.E. Thurston & Sons, Celotex, CertainTeed Corp, Chongqing Jincan Insulation Material Co Ltd, Cleaver-Brooks, Combustion Engineering, Congoleum Corp, Core Safety Group, Crown Cork and Seal, Daimler Chrysler, Dana Corp, EaglePicher Industries Inc, Johns-Manville, Oriental Enterprises, and others.
A prominent trend in the asbestos market is the decline in its use and demand globally, driven by increasing awareness of its health hazards and regulatory restrictions on its use. Asbestos has long been recognized as a carcinogen, with exposure linked to serious respiratory diseases such as mesothelioma and lung cancer. Consequently, many countries have imposed bans or strict regulations on asbestos-containing products, leading to a gradual reduction in its use across industries such as construction, manufacturing, and automotive. This trend is expected to continue as governments and organizations prioritize public health and safety, resulting in a steady decline in asbestos demand and market size over time.
The primary driver fueling changes in the asbestos market is the implementation of regulations and guidelines governing asbestos remediation and abatement activities. Asbestos-containing materials pose significant health risks when disturbed or deteriorated, releasing airborne fibers that can be inhaled and cause serious illnesses. To mitigate these risks, regulatory authorities have established stringent standards and protocols for the identification, removal, and disposal of asbestos-containing materials in buildings, infrastructure, and industrial facilities. Compliance with these regulations drives demand for asbestos remediation and abatement services, as property owners, businesses, and government agencies seek to ensure safe working and living environments.
An emerging opportunity within the asbestos market lies in the growth of asbestos remediation and abatement services, driven by the need for safe and effective asbestos management practices. Asbestos remediation involves the removal or encapsulation of asbestos-containing materials to prevent exposure and minimize health risks. Additionally, ongoing monitoring and maintenance of asbestos-containing structures are essential to ensure compliance with regulatory requirements and safeguard public health. Companies specializing in asbestos remediation and abatement services have the opportunity to capitalize on the increasing demand for their expertise and services, particularly in regions with aging infrastructure and strict asbestos regulations. By offering comprehensive solutions for asbestos management and compliance, service providers can establish themselves as trusted partners in ensuring safe and healthy environments for their clients.
The Chrysotile segment is the largest in the Asbestos Market by type, primarily due to its widespread use and abundance compared to other types of asbestos. Chrysotile, also known as white asbestos, accounts for the majority of asbestos production globally and has been historically favored for its versatility and relatively low cost. It has been used in a wide range of applications, including construction materials such as roofing, flooring, insulation, and cement products. Despite growing concerns over the health risks associated with asbestos exposure, chrysotile has remained prevalent in certain industries due to its desirable properties such as heat resistance, strength, and chemical stability. However, as awareness of the health hazards of asbestos has increased, there has been a decline in its usage in many countries, leading to stricter regulations and bans. Nevertheless, the Chrysotile segment continues to dominate the Asbestos Market due to its historical usage and availability in various industrial applications.
The Friction Products segment is the fastest-growing in the Asbestos Market by application, driven by the increasing demand for asbestos in various friction materials used in automotive and industrial applications. Asbestos has long been valued for its heat resistance, durability, and frictional properties, making it an essential component in brake pads, clutch linings, and other friction materials. Despite growing concerns over asbestos-related health risks, friction product manufacturers continue to rely on asbestos due to its ability to withstand high temperatures and provide consistent braking performance under demanding conditions. Additionally, the automotive industry's expansion, particularly in emerging markets, contributes to the segment's growth, as more vehicles are equipped with asbestos-containing friction materials. While efforts are being made to develop asbestos-free alternatives, the unique properties of asbestos continue to make it a preferred choice in friction products, driving the rapid growth of the Friction Products segment in the Asbestos Market.
By Type
Chrysotile
Amosite
Crocidolite
Anthophyllite
Tremolite
Actinolite
By Application
Building Materials
Electrical Insulation
Friction Products
Packaging
Gaskets
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
A.B.B. Lummus Global Inc
A.P. Green Industries
Abex Corp
Amatex Corp
Armstrong Contracting and Supply Corp
Armstrong World Industries
Babcock & Wilcox
Balaji Enterprises
Bell Asbestos Mines
Bestwall Gypsum
Borg Warner Company
Burnham Holdings
C.E. Thurston & Sons
Celotex
CertainTeed Corp
Chongqing Jincan Insulation Material Co Ltd
Cleaver-Brooks
Combustion Engineering
Congoleum Corp
Core Safety Group
Crown Cork and Seal
Daimler Chrysler
Dana Corp
EaglePicher Industries Inc
Johns-Manville
Oriental Enterprises
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Asbestos Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Asbestos Market Size Outlook, $ Million, 2021 to 2032
3.2 Asbestos Market Outlook by Type, $ Million, 2021 to 2032
3.3 Asbestos Market Outlook by Product, $ Million, 2021 to 2032
3.4 Asbestos Market Outlook by Application, $ Million, 2021 to 2032
3.5 Asbestos Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Asbestos Industry
4.2 Key Market Trends in Asbestos Industry
4.3 Potential Opportunities in Asbestos Industry
4.4 Key Challenges in Asbestos Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Asbestos Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Asbestos Market Outlook by Segments
7.1 Asbestos Market Outlook by Segments, $ Million, 2021- 2032
By Type
Chrysotile
Amosite
Crocidolite
Anthophyllite
Tremolite
Actinolite
By Application
Building Materials
Electrical Insulation
Friction Products
Packaging
Gaskets
Others
8 North America Asbestos Market Analysis and Outlook To 2032
8.1 Introduction to North America Asbestos Markets in 2024
8.2 North America Asbestos Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Asbestos Market size Outlook by Segments, 2021-2032
By Type
Chrysotile
Amosite
Crocidolite
Anthophyllite
Tremolite
Actinolite
By Application
Building Materials
Electrical Insulation
Friction Products
Packaging
Gaskets
Others
9 Europe Asbestos Market Analysis and Outlook To 2032
9.1 Introduction to Europe Asbestos Markets in 2024
9.2 Europe Asbestos Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Asbestos Market Size Outlook by Segments, 2021-2032
By Type
Chrysotile
Amosite
Crocidolite
Anthophyllite
Tremolite
Actinolite
By Application
Building Materials
Electrical Insulation
Friction Products
Packaging
Gaskets
Others
10 Asia Pacific Asbestos Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Asbestos Markets in 2024
10.2 Asia Pacific Asbestos Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Asbestos Market size Outlook by Segments, 2021-2032
By Type
Chrysotile
Amosite
Crocidolite
Anthophyllite
Tremolite
Actinolite
By Application
Building Materials
Electrical Insulation
Friction Products
Packaging
Gaskets
Others
11 South America Asbestos Market Analysis and Outlook To 2032
11.1 Introduction to South America Asbestos Markets in 2024
11.2 South America Asbestos Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Asbestos Market size Outlook by Segments, 2021-2032
By Type
Chrysotile
Amosite
Crocidolite
Anthophyllite
Tremolite
Actinolite
By Application
Building Materials
Electrical Insulation
Friction Products
Packaging
Gaskets
Others
12 Middle East and Africa Asbestos Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Asbestos Markets in 2024
12.2 Middle East and Africa Asbestos Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Asbestos Market size Outlook by Segments, 2021-2032
By Type
Chrysotile
Amosite
Crocidolite
Anthophyllite
Tremolite
Actinolite
By Application
Building Materials
Electrical Insulation
Friction Products
Packaging
Gaskets
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
A.B.B. Lummus Global Inc
A.P. Green Industries
Abex Corp
Amatex Corp
Armstrong Contracting and Supply Corp
Armstrong World Industries
Babcock & Wilcox
Balaji Enterprises
Bell Asbestos Mines
Bestwall Gypsum
Borg Warner Company
Burnham Holdings
C.E. Thurston & Sons
Celotex
CertainTeed Corp
Chongqing Jincan Insulation Material Co Ltd
Cleaver-Brooks
Combustion Engineering
Congoleum Corp
Core Safety Group
Crown Cork and Seal
Daimler Chrysler
Dana Corp
EaglePicher Industries Inc
Johns-Manville
Oriental Enterprises
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Type
Chrysotile
Amosite
Crocidolite
Anthophyllite
Tremolite
Actinolite
By Application
Building Materials
Electrical Insulation
Friction Products
Packaging
Gaskets
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Asbestos Market Size is valued at $478.3 Million in 2024 and is forecast to register a growth rate (CAGR) of 5.4% to reach $728.5 Million by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
A.B.B. Lummus Global Inc, A.P. Green Industries, Abex Corp, Amatex Corp, Armstrong Contracting and Supply Corp, Armstrong World Industries, Babcock & Wilcox, Balaji Enterprises, Bell Asbestos Mines, Bestwall Gypsum, Borg Warner Company, Burnham Holdings, C.E. Thurston & Sons, Celotex, CertainTeed Corp, Chongqing Jincan Insulation Material Co Ltd, Cleaver-Brooks, Combustion Engineering, Congoleum Corp, Core Safety Group, Crown Cork and Seal, Daimler Chrysler, Dana Corp, EaglePicher Industries Inc, Johns-Manville, Oriental Enterprises
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume