Fiberglass for insulation (also referred to Glass wool) is a synthetic and very finely spun bunch of fibers of glass that forms a mass resembling wool. Glass wool is made by melting sand in combination with other oxides such as lime or soda without crystallizing them.
The KSA imports glass wool mainly from China and Kuwait and exports relatively small volumes of glass wool. The country has witnessed increased demand of glass wool products for building insulation, particularly for HVAC applications.
At present, only 30% of buildings in the KSA have been thermally insulated. In Jeddah, an estimated 85% of the Buildings lack insulation, and the ratio in the Eastern Province and Riyadh is 72.6% and 50%, respectively. Hence, the forecast for the glass wool product demand in KSA would be close to 54KT by 2020.
- Saudi demand (Tons): 54K
- Ideal Capacity Size (Tons): 10K
- Manpower: 75
- Feedstock: Recycled Glass Cullet, Sand, Soda Ash, Limestone, Borax and Binder Coatings-Phenol formaldehyde
- Investment Level: USD 25 Million
- investment Size: To be assessed by the investor (cost drivers and other financial figures to be shared upon request)
- Location: To be determined by the investor
- Timeline: Open to starting the project as soon as possible
Model: Opportunity to consider different operating models
- Pure private sector model
- Joint venture with the government